FRME 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	2.45B EUR	2.72B EUR	2.42B EUR	2.13B EUR
Enterprise Value	3.5B EUR	2.72B EUR	3.53B EUR	2.71B EUR
Valuation Multiples
Trailing P/E	12.54x	19.13x	12.18x	9.44x
Forward P/E	8.72x	--	--	--
Price to Sales	3.81x	5.48x	3.67x	3.22x
Price to Book	0.91x	--	0.91x	0.87x
EV/Revenue	5.45x	5.48x	5.36x	4.09x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	11.97x	8.63x	7.53x
EV/FCF	--	11.97x	12.59x	9.56x
FCF Yield	--	8.35%	11.59%	13.29%