PZZA 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	650.2M EUR	1.21B EUR	1.07B EUR	1.26B EUR
Enterprise Value	1.56B EUR	2.12B EUR	1.98B EUR	2.16B EUR
Valuation Multiples
Trailing P/E	24.38x	43.91x	37.33x	59.25x
Forward P/E	14.83x	--	--	--
Price to Sales	0.33x	0.62x	0.53x	0.82x
Price to Book	--	--	--	--
EV/Revenue	0.79x	1.08x	0.98x	1.41x
EV/EBITDA	7.96x	12.38x	11.52x	16.65x
Price to FCF (P/FCF)	11.04x	49.12x	40.75x	38.89x
EV/FCF	26.47x	85.92x	75.67x	66.68x
FCF Yield	9.06%	2.04%	2.45%	2.57%