COKE 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	13.06B EUR	12.71B EUR	12.76B EUR	10.2B EUR
Enterprise Value	15.22B EUR	15.16B EUR	15.28B EUR	12.83B EUR
Valuation Multiples
Trailing P/E	26.06x	23.11x	22.06x	21.85x
Forward P/E	5.04x	--	--	--
Price to Sales	1.7x	1.65x	1.7x	1.81x
Price to Book	--	--	--	--
EV/Revenue	1.98x	1.97x	2.04x	2.27x
EV/EBITDA	12.49x	12.75x	13.02x	14.58x
Price to FCF (P/FCF)	29.45x	19.73x	19.3x	19.65x
EV/FCF	34.32x	23.54x	23.11x	24.71x
FCF Yield	3.4%	5.07%	5.18%	5.09%