600850.SS Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	11.11B EUR	15.36B EUR	20.16B EUR
Enterprise Value	11.24B EUR	15.45B EUR	19.01B EUR
Valuation Multiples
Trailing P/E	38.89x	98.19x	111.02x
Forward P/E	--	--	--
Price to Sales	1x	1.9x	2.51x
Price to Book	2.3x	3.13x	4.12x
EV/Revenue	1.01x	1.91x	2.37x
EV/EBITDA	33.94x	51.37x	59.42x
Price to FCF (P/FCF)	63.89x	--	1,839.75x
EV/FCF	64.63x	--	1,734.53x
FCF Yield	1.57%	-0.65%	0.05%