MIKA.JK 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	24.27T EUR	23.5T EUR	29.06T EUR	33.1T EUR
Enterprise Value	22.19T EUR	20.66T EUR	27T EUR	30.57T EUR
Valuation Multiples
Trailing P/E	17.21x	22.78x	29x	33.52x
Forward P/E	18.45x	--	--	--
Price to Sales	4.35x	5.65x	7.2x	8.38x
Price to Book	3.32x	3.22x	3.84x	4.56x
EV/Revenue	3.98x	4.97x	6.69x	7.74x
EV/EBITDA	10.49x	13.38x	17.94x	20.67x
Price to FCF (P/FCF)	59.1x	47.9x	51.48x	56.74x
EV/FCF	54.04x	42.1x	47.81x	52.4x
FCF Yield	1.69%	2.09%	1.94%	1.76%