4013.SR 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	80.04B EUR	74.2B EUR	90.44B EUR	89.95B EUR
Enterprise Value	87.97B EUR	81.55B EUR	97.53B EUR	96.97B EUR
Valuation Multiples
Trailing P/E	33.1x	40.83x	51.81x	49.99x
Forward P/E	30.45x	--	--	--
Price to Sales	5.48x	6.66x	8.6x	8.78x
Price to Book	9.69x	8.98x	11.38x	11.38x
EV/Revenue	6.02x	7.32x	9.27x	9.47x
EV/EBITDA	25.88x	28.48x	36.47x	36.77x
Price to FCF (P/FCF)	781.75x	56.18x	110.37x	2,462.26x
EV/FCF	859.2x	61.74x	119.01x	2,654.5x
FCF Yield	0.13%	1.78%	0.91%	0.04%