MILDEF.ST Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	10.4B EUR	8.7B EUR	6.52B EUR
Enterprise Value	10.9B EUR	9.19B EUR	6.98B EUR
Valuation Multiples
Trailing P/E	38.82x	37.73x	37.52x
Forward P/E	75.91x	--	--
Price to Sales	3.91x	3.47x	2.94x
Price to Book	6.28x	5.25x	4.04x
EV/Revenue	4.1x	3.67x	3.16x
EV/EBITDA	23.25x	20.58x	19.65x
Price to FCF (P/FCF)	85.02x	33.46x	36.95x
EV/FCF	89.08x	35.37x	39.59x
FCF Yield	1.18%	2.99%	2.71%