FIX 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	60.38B EUR	69.77B EUR	48.52B EUR	32.83B EUR
Enterprise Value	58.42B EUR	68.24B EUR	47.81B EUR	32.33B EUR
Valuation Multiples
Trailing P/E	41.99x	48.64x	39.65x	38.48x
Forward P/E	28.51x	--	--	--
Price to Sales	5.38x	6.21x	4.79x	4.52x
Price to Book	18.74x	21.68x	17.24x	13.41x
EV/Revenue	5.2x	6.08x	4.72x	4.45x
EV/EBITDA	29.17x	33.51x	27.16x	26.35x
Price to FCF (P/FCF)	32.78x	32.3x	35.09x	28.76x
EV/FCF	31.72x	31.59x	34.57x	28.32x
FCF Yield	3.05%	3.1%	2.85%	3.48%