CMC Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 31.05.2026	Q1 '26 28.02.2026	Q4 '25 30.11.2025
Market & Enterprise Value
Market Cap	7.07B EUR	8.42B EUR	8.13B EUR	7.08B EUR
Enterprise Value	10.05B EUR	11.26B EUR	11B EUR	9.41B EUR
Valuation Multiples
Trailing P/E	12.08x	14.15x	16.1x	17.18x
Forward P/E	8.79x	--	--	--
Price to Sales	0.8x	0.95x	0.97x	1.13x
Price to Book	1.56x	1.86x	1.85x	1.64x
EV/Revenue	1.14x	1.27x	1.31x	1.5x
EV/EBITDA	8.34x	9.64x	10.74x	12.27x
Price to FCF (P/FCF)	52.72x	20.78x	20.67x	20.23x
EV/FCF	74.93x	27.8x	27.95x	26.88x
FCF Yield	1.9%	4.81%	4.84%	4.94%