FTRE 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	1.98B EUR	1.65B EUR	891.13M EUR	1.61B EUR
Enterprise Value	2.89B EUR	2.6B EUR	1.86B EUR	2.55B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	18.49x	--	--	--
Price to Sales	0.74x	0.62x	0.33x	0.78x
Price to Book	3.78x	3.16x	1.69x	2.85x
EV/Revenue	1.08x	0.97x	0.69x	1.23x
EV/EBITDA	29.36x	23.76x	22.11x	42.04x
Price to FCF (P/FCF)	7.11x	8.44x	4.68x	7.46x
EV/FCF	10.35x	13.28x	9.78x	11.83x
FCF Yield	14.07%	11.84%	21.37%	13.41%