HURN 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	2.66B EUR	1.46B EUR	2.09B EUR	2.97B EUR
Enterprise Value	3.3B EUR	1.46B EUR	2.95B EUR	3.5B EUR
Valuation Multiples
Trailing P/E	25.16x	17.33x	20.14x	28.31x
Forward P/E	15.77x	--	--	--
Price to Sales	1.5x	1.09x	1.2x	1.75x
Price to Book	6.49x	--	5.26x	5.62x
EV/Revenue	1.86x	1.09x	1.69x	2.06x
EV/EBITDA	13.55x	8.09x	12.58x	15.25x
Price to FCF (P/FCF)	17.6x	48.91x	20.16x	18.32x
EV/FCF	21.82x	48.91x	28.47x	21.55x
FCF Yield	5.68%	2.04%	4.96%	5.46%