QCRH 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	1.59B EUR	1.59B EUR	1.41B EUR	1.39B EUR
Enterprise Value	1.89B EUR	2.07B EUR	1.71B EUR	1.82B EUR
Valuation Multiples
Trailing P/E	11.5x	11.22x	10.46x	13.71x
Forward P/E	10.85x	--	--	--
Price to Sales	4.2x	4.12x	3.77x	4.87x
Price to Book	1.38x	1.39x	1.26x	1.25x
EV/Revenue	4.98x	5.36x	4.57x	6.39x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	2.01x	3.93x	3.79x
EV/FCF	--	2.61x	4.76x	4.97x
FCF Yield	--	49.75%	25.46%	26.38%