NEXA 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	1.75B EUR	1.62B EUR	1.4B EUR	1.17B EUR
Enterprise Value	3.46B EUR	3.12B EUR	2.9B EUR	2.48B EUR
Valuation Multiples
Trailing P/E	6.32x	5.84x	6.68x	9.7x
Forward P/E	4.13x	--	--	--
Price to Sales	0.5x	0.47x	0.43x	0.49x
Price to Book	1.45x	1.35x	1.23x	1.17x
EV/Revenue	1x	0.9x	0.89x	1.05x
EV/EBITDA	3.66x	2.95x	3.28x	4.27x
Price to FCF (P/FCF)	4.71x	13.06x	11.77x	4.75x
EV/FCF	9.31x	25.18x	24.31x	10.07x
FCF Yield	21.24%	7.65%	8.5%	21.03%