HRTA.JK 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	10.04T EUR	7.76T EUR	10.04T EUR	9.9T EUR
Enterprise Value	13.26T EUR	10.97T EUR	11.42T EUR	12.41T EUR
Valuation Multiples
Trailing P/E	7.55x	5.83x	7.95x	11.95x
Forward P/E	--	--	--	--
Price to Sales	0.16x	0.12x	0.17x	0.26x
Price to Book	2.69x	2.08x	2.75x	3.07x
EV/Revenue	0.21x	0.17x	0.2x	0.33x
EV/EBITDA	6.41x	5.35x	5.8x	9.33x
Price to FCF (P/FCF)	25.19x	17.1x	4.77x	10.22x
EV/FCF	33.26x	24.16x	5.43x	12.82x
FCF Yield	3.97%	5.85%	20.96%	9.78%