603538.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	9.67B EUR	7.9B EUR	9.02B EUR	4.24B EUR
Enterprise Value	9.9B EUR	8.2B EUR	9.83B EUR	5.05B EUR
Valuation Multiples
Trailing P/E	63.22x	112.92x	138.1x	76.68x
Forward P/E	20.04x	--	--	--
Price to Sales	5.74x	6.35x	8.02x	3.99x
Price to Book	3.3x	2.7x	3.79x	1.82x
EV/Revenue	5.88x	6.59x	8.74x	4.74x
EV/EBITDA	31.24x	54.13x	67.24x	36.84x
Price to FCF (P/FCF)	--	333.15x	--	378.16x
EV/FCF	--	345.85x	--	449.52x
FCF Yield	-2.73%	0.3%	-0.07%	0.26%