PMZ-UN.TO 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	2.98B EUR	2.63B EUR	2.03B EUR	1.84B EUR
Enterprise Value	5.17B EUR	4.74B EUR	4.2B EUR	3.99B EUR
Valuation Multiples
Trailing P/E	17.46x	29.54x	13.27x	12.92x
Forward P/E	12.23x	--	--	--
Price to Sales	4.27x	4.85x	3.92x	3.74x
Price to Book	1.02x	1.05x	0.8x	0.73x
EV/Revenue	7.4x	8.74x	8.1x	8.12x
EV/EBITDA	15.01x	19.6x	17.8x	15.34x
Price to FCF (P/FCF)	7.43x	14.89x	11.98x	10.77x
EV/FCF	12.88x	26.86x	24.79x	23.38x
FCF Yield	13.45%	6.72%	8.34%	9.29%