LGND 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	6.02B EUR	6.3B EUR	4B EUR	3.74B EUR
Enterprise Value	5.65B EUR	6.42B EUR	4.34B EUR	4.02B EUR
Valuation Multiples
Trailing P/E	31.8x	31.93x	26.04x	22.4x
Forward P/E	25.26x	--	--	--
Price to Sales	20.71x	21.67x	14.57x	16.78x
Price to Book	6.21x	6.51x	4.01x	3.68x
EV/Revenue	19.46x	22.1x	15.8x	18.03x
EV/EBITDA	42.51x	40.19x	28.11x	32.6x
Price to FCF (P/FCF)	43.05x	52.58x	35.08x	57.06x
EV/FCF	40.46x	53.62x	38.04x	61.28x
FCF Yield	2.32%	1.9%	2.85%	1.75%