2020.SR Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	55.55B EUR	58.93B EUR	69.03B EUR
Enterprise Value	44.28B EUR	55.48B EUR	65.93B EUR
Valuation Multiples
Trailing P/E	14.3x	16.13x	16.21x
Forward P/E	15.23x	--	--
Price to Sales	4.63x	5.01x	5.55x
Price to Book	2.62x	2.78x	3.31x
EV/Revenue	3.69x	4.71x	5.3x
EV/EBITDA	9.72x	10.94x	11.48x
Price to FCF (P/FCF)	22.11x	17.33x	20.17x
EV/FCF	17.62x	16.31x	19.26x
FCF Yield	4.52%	5.77%	4.96%