PAY 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	4.01B EUR	3.04B EUR	3.2B EUR
Enterprise Value	3.65B EUR	2.67B EUR	2.86B EUR
Valuation Multiples
Trailing P/E	48.3x	35.86x	43.17x
Forward P/E	29.22x	--	--
Price to Sales	2.95x	2.24x	2.5x
Price to Book	6.54x	4.96x	5.48x
EV/Revenue	2.69x	1.97x	2.24x
EV/EBITDA	33.75x	18.8x	22.61x
Price to FCF (P/FCF)	36.67x	25.06x	30.48x
EV/FCF	33.36x	22.03x	27.31x
FCF Yield	2.73%	3.99%	3.28%