DX 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	2.69B EUR	3.11B EUR	2.64B EUR	2.45B EUR
Enterprise Value	24.79B EUR	2.5B EUR	1.87B EUR	1.92B EUR
Valuation Multiples
Trailing P/E	3.76x	7.14x	10.93x	7.6x
Forward P/E	7.05x	--	--	--
Price to Sales	5.35x	6.2x	8.7x	6.75x
Price to Book	0.84x	0.98x	0.97x	0.99x
EV/Revenue	49.36x	4.99x	6.15x	5.28x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	13.16x	14.34x	21.4x
EV/FCF	--	10.59x	10.15x	16.76x
FCF Yield	--	7.6%	6.97%	4.67%