IESC 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	12.62B EUR	14.64B EUR	9.49B EUR	7.75B EUR
Enterprise Value	11.67B EUR	14.64B EUR	9.55B EUR	7.73B EUR
Valuation Multiples
Trailing P/E	26.45x	32.09x	24.96x	28.66x
Forward P/E	--	--	--	--
Price to Sales	3.17x	3.67x	2.61x	2.92x
Price to Book	9.64x	11.91x	8.85x	8.07x
EV/Revenue	2.93x	3.67x	2.63x	2.91x
EV/EBITDA	21.16x	26.17x	19.6x	21.56x
Price to FCF (P/FCF)	38.3x	64.09x	39.65x	46.15x
EV/FCF	35.41x	64.09x	39.89x	46.01x
FCF Yield	2.61%	1.56%	2.52%	2.17%