LH-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	41.59B EUR	43.73B EUR	43.73B EUR	46.21B EUR
Enterprise Value	116.66B EUR	118.53B EUR	116.75B EUR	119.29B EUR
Valuation Multiples
Trailing P/E	15.13x	16.05x	12.24x	16.05x
Forward P/E	--	--	--	--
Price to Sales	2.06x	2.19x	2.04x	2.76x
Price to Book	0.81x	0.85x	0.84x	0.89x
EV/Revenue	5.79x	5.93x	5.46x	7.12x
EV/EBITDA	103.91x	17.56x	16.59x	21.97x
Price to FCF (P/FCF)	6.01x	13.3x	12.98x	15.51x
EV/FCF	16.86x	36.06x	34.65x	40.03x
FCF Yield	16.64%	7.52%	7.7%	6.45%