CUZ 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	4.55B EUR	4.93B EUR	3.71B EUR	4.33B EUR
Enterprise Value	8.33B EUR	8.71B EUR	7.53B EUR	7.72B EUR
Valuation Multiples
Trailing P/E	690.5x	768.06x	--	220.88x
Forward P/E	60.04x	--	--	--
Price to Sales	4.43x	4.77x	3.69x	5.82x
Price to Book	1.01x	1.1x	0.82x	0.93x
EV/Revenue	8.12x	8.42x	7.48x	10.38x
EV/EBITDA	12.82x	13.69x	12.12x	16.93x
Price to FCF (P/FCF)	--	31.36x	29.61x	29.94x
EV/FCF	--	55.35x	60.03x	53.35x
FCF Yield	-0.55%	3.19%	3.38%	3.34%