ETOR 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	2.06B EUR	3.15B EUR	2.4B EUR	2.91B EUR
Enterprise Value	1.15B EUR	2.24B EUR	1.38B EUR	1.89B EUR
Valuation Multiples
Trailing P/E	9.56x	12.05x	10.07x	18.69x
Forward P/E	8.34x	--	--	--
Price to Sales	0.17x	0.26x	0.19x	0.29x
Price to Book	1.55x	2.31x	1.74x	2.09x
EV/Revenue	0.1x	0.19x	0.11x	0.19x
EV/EBITDA	--	6.14x	4.1x	8.4x
Price to FCF (P/FCF)	--	10.4x	7.48x	13.32x
EV/FCF	--	7.39x	4.31x	8.66x
FCF Yield	--	9.61%	13.38%	7.51%