600903.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	7.9B EUR	7.73B EUR	7.34B EUR	7.6B EUR
Enterprise Value	14.06B EUR	12.89B EUR	12.85B EUR	13.16B EUR
Valuation Multiples
Trailing P/E	339.5x	112.27x	57.46x	77.7x
Forward P/E	37.72x	--	--	--
Price to Sales	1.26x	1.53x	1.43x	1.4x
Price to Book	2.43x	2.37x	2.28x	2.44x
EV/Revenue	2.25x	2.56x	2.51x	2.42x
EV/EBITDA	21.25x	37.94x	31.2x	33.78x
Price to FCF (P/FCF)	--	34.49x	42.63x	350.64x
EV/FCF	--	57.54x	74.66x	606.9x
FCF Yield	-1.6%	2.9%	2.35%	0.29%