PSA-PH 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	--	3.8B EUR	3.83B EUR	4.01B EUR
Enterprise Value	17.86B EUR	13.72B EUR	13.73B EUR	13.95B EUR
Valuation Multiples
Trailing P/E	1.94x	1.86x	2.01x	2.91x
Forward P/E	--	--	--	--
Price to Sales	--	0.78x	0.79x	1.1x
Price to Book	0.72x	0.41x	0.42x	0.43x
EV/Revenue	3.64x	2.8x	2.83x	3.83x
EV/EBITDA	5.2x	3.92x	3.92x	5.29x
Price to FCF (P/FCF)	--	1.33x	1.33x	1.78x
EV/FCF	7.65x	4.79x	4.77x	6.2x
FCF Yield	--	75.36%	75.07%	56.08%