4019.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	3.71B EUR	4.19B EUR	4.64B EUR	4.51B EUR
Enterprise Value	4.47B EUR	4.95B EUR	5.35B EUR	5.09B EUR
Valuation Multiples
Trailing P/E	13.49x	15.07x	17.22x	19.06x
Forward P/E	--	--	--	--
Price to Sales	2.36x	2.66x	2.99x	3.86x
Price to Book	3.78x	4.26x	4.55x	3.8x
EV/Revenue	2.84x	3.15x	3.45x	4.35x
EV/EBITDA	14.55x	11.54x	12.74x	14.51x
Price to FCF (P/FCF)	21.01x	13.2x	23.19x	34.65x
EV/FCF	25.31x	15.59x	26.79x	39.1x
FCF Yield	4.76%	7.58%	4.31%	2.89%