CLF 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	7.41B EUR	5.36B EUR	4.82B EUR	7.57B EUR
Enterprise Value	14.82B EUR	12.99B EUR	12.54B EUR	14.76B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	15.13x	--	--	--
Price to Sales	0.39x	0.28x	0.25x	0.54x
Price to Book	1.32x	0.96x	0.83x	1.24x
EV/Revenue	0.77x	0.68x	0.66x	1.06x
EV/EBITDA	28.78x	24.93x	41.65x	77.29x
Price to FCF (P/FCF)	1,209.08x	--	--	--
EV/FCF	2,419.9x	--	--	--
FCF Yield	0.08%	-16%	-20.69%	-6.87%