600650.SS 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	5.73B EUR	5.32B EUR	7.17B EUR	8.38B EUR
Enterprise Value	4.12B EUR	3.54B EUR	5.44B EUR	6.63B EUR
Valuation Multiples
Trailing P/E	47.18x	49.16x	55.86x	65.64x
Forward P/E	--	--	--	--
Price to Sales	4.1x	5.33x	6.83x	7.67x
Price to Book	1.31x	1.22x	1.69x	1.9x
EV/Revenue	2.95x	3.55x	5.19x	6.07x
EV/EBITDA	23.01x	18.65x	28.42x	38.45x
Price to FCF (P/FCF)	182.73x	167.7x	259.07x	182.64x
EV/FCF	131.4x	111.71x	196.72x	144.38x
FCF Yield	0.55%	0.6%	0.39%	0.55%