UTL Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	953.05M EUR	960.33M EUR	939.79M EUR	868.01M EUR
Enterprise Value	1.91B EUR	1.91B EUR	1.86B EUR	1.79B EUR
Valuation Multiples
Trailing P/E	16.49x	16.97x	16.81x	38.24x
Forward P/E	14.89x	--	--	--
Price to Sales	1.6x	1.61x	1.61x	2.38x
Price to Book	1.48x	1.49x	1.48x	1.42x
EV/Revenue	3.2x	3.21x	3.19x	4.89x
EV/EBITDA	9.22x	8.95x	8.88x	13.9x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-6.91%	-4.74%	-5.92%	-8.44%