CAKE 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	5.4B EUR	3.71B EUR	2.73B EUR	2.51B EUR
Enterprise Value	7.21B EUR	3.71B EUR	4.63B EUR	4.42B EUR
Valuation Multiples
Trailing P/E	29.39x	33.65x	16.52x	16.88x
Forward P/E	21.7x	--	--	--
Price to Sales	1.39x	1.3x	0.72x	0.67x
Price to Book	10.4x	--	5.94x	5.74x
EV/Revenue	1.86x	1.3x	1.22x	1.18x
EV/EBITDA	20.3x	13.78x	12.47x	11.98x
Price to FCF (P/FCF)	32.36x	23.75x	15.89x	16.27x
EV/FCF	43.21x	23.75x	27.01x	28.7x
FCF Yield	3.09%	4.21%	6.29%	6.15%