MLR 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	595.54M EUR	580.66M EUR	519.07M EUR	424.96M EUR
Enterprise Value	549.47M EUR	530.74M EUR	491.09M EUR	413.86M EUR
Valuation Multiples
Trailing P/E	41.97x	40.56x	33.48x	28.43x
Forward P/E	18.87x	--	--	--
Price to Sales	0.77x	0.75x	0.7x	0.75x
Price to Book	1.42x	1.38x	1.24x	1.01x
EV/Revenue	0.71x	0.69x	0.66x	0.73x
EV/EBITDA	14.63x	14.23x	12.83x	12.81x
Price to FCF (P/FCF)	5.82x	5.15x	4.71x	4.86x
EV/FCF	5.37x	4.71x	4.45x	4.73x
FCF Yield	17.17%	19.41%	21.24%	20.57%