CFR 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	9.34B EUR	9.6B EUR	8.61B EUR	8.01B EUR
Enterprise Value	8.53B EUR	3.36B EUR	1.69B EUR	-627.3M EUR
Valuation Multiples
Trailing P/E	14.2x	14.05x	12.87x	16.1x
Forward P/E	12.55x	--	--	--
Price to Sales	4.12x	4.18x	3.79x	4.73x
Price to Book	2.09x	2.08x	1.9x	1.75x
EV/Revenue	3.77x	1.46x	0.74x	-0.37x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	17.74x	12.98x	17.26x
EV/FCF	--	6.2x	2.55x	-1.35x
FCF Yield	--	5.64%	7.7%	5.79%