QEWS.QA 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	14.08B EUR	15.74B EUR	15.8B EUR	16.56B EUR
Enterprise Value	19.41B EUR	20.84B EUR	19.99B EUR	20.87B EUR
Valuation Multiples
Trailing P/E	10.94x	17.24x	15.74x	16.62x
Forward P/E	8.71x	--	--	--
Price to Sales	4.63x	7.02x	7.24x	7.74x
Price to Book	0.9x	1.01x	1.04x	1.06x
EV/Revenue	6.38x	9.3x	9.16x	9.76x
EV/EBITDA	17.7x	14.16x	12.77x	13.39x
Price to FCF (P/FCF)	--	99.49x	58.49x	26.17x
EV/FCF	--	131.71x	74.01x	32.99x
FCF Yield	-15.99%	1.01%	1.71%	3.82%