DEWA.JK 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	14.29T EUR	11.09T EUR	17.74T EUR	27.26T EUR
Enterprise Value	19.07T EUR	15.05T EUR	20.85T EUR	29.23T EUR
Valuation Multiples
Trailing P/E	3.31x	2.47x	4.1x	6.43x
Forward P/E	--	--	--	--
Price to Sales	2.2x	1.71x	2.79x	5.67x
Price to Book	1.77x	1.37x	2.25x	3.18x
EV/Revenue	2.94x	2.32x	3.28x	6.08x
EV/EBITDA	11.4x	3.18x	4.66x	6.81x
Price to FCF (P/FCF)	--	--	1,158.1x	209.63x
EV/FCF	--	--	1,361.18x	224.77x
FCF Yield	-0.34%	-5.83%	0.09%	0.48%