ICHI-R.BK 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	17.16B EUR	13.78B EUR	13.78B EUR	13.78B EUR
Enterprise Value	16.51B EUR	13.62B EUR	13.47B EUR	13.64B EUR
Valuation Multiples
Trailing P/E	14.19x	10.84x	10.07x	12.73x
Forward P/E	--	--	--	--
Price to Sales	2.38x	1.69x	1.67x	2.17x
Price to Book	3.11x	2.5x	2.32x	2.44x
EV/Revenue	2.29x	1.67x	1.63x	2.15x
EV/EBITDA	8.74x	7.03x	6.3x	8.26x
Price to FCF (P/FCF)	15.93x	8.98x	9.22x	26.54x
EV/FCF	15.33x	8.88x	9.02x	26.26x
FCF Yield	6.28%	11.13%	10.84%	3.77%