COGN3.SA 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	6.37B EUR	4.5B EUR	6.31B EUR	6.31B EUR
Enterprise Value	11.26B EUR	11.12B EUR	12.84B EUR	12.88B EUR
Valuation Multiples
Trailing P/E	8.83x	6.41x	9.39x	11.89x
Forward P/E	6.53x	--	--	--
Price to Sales	0.81x	0.57x	0.84x	1.17x
Price to Book	0.46x	0.33x	0.46x	0.47x
EV/Revenue	1.44x	1.42x	1.7x	2.39x
EV/EBITDA	6.07x	4.04x	4.78x	6.41x
Price to FCF (P/FCF)	12.54x	4.5x	7.54x	11.38x
EV/FCF	22.15x	11.1x	15.36x	23.24x
FCF Yield	7.98%	22.23%	13.26%	8.79%