ISAE4.SA 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	20.69B EUR	18.52B EUR	19.17B EUR	18.15B EUR
Enterprise Value	36.04B EUR	35.78B EUR	34.82B EUR	32.8B EUR
Valuation Multiples
Trailing P/E	6.85x	9.11x	12.3x	10.91x
Forward P/E	9.66x	--	--	--
Price to Sales	1.94x	2.28x	2.76x	2.65x
Price to Book	0.87x	0.84x	0.89x	0.86x
EV/Revenue	3.38x	4.41x	5.01x	4.79x
EV/EBITDA	7.7x	7.22x	8.48x	7.88x
Price to FCF (P/FCF)	13.96x	--	--	--
EV/FCF	24.32x	--	--	--
FCF Yield	7.16%	-6.1%	-6.77%	-6.06%