REG 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	13.47B EUR	14.6B EUR	13.85B EUR	12.63B EUR
Enterprise Value	18.51B EUR	14.6B EUR	19.31B EUR	17.86B EUR
Valuation Multiples
Trailing P/E	24.26x	33.16x	25.35x	23.94x
Forward P/E	28.66x	--	--	--
Price to Sales	7.99x	12.13x	8.74x	8.13x
Price to Book	1.98x	--	2.01x	1.83x
EV/Revenue	10.98x	12.13x	12.18x	11.5x
EV/EBITDA	17.28x	16.3x	16.7x	15.81x
Price to FCF (P/FCF)	18.12x	25.38x	16.91x	15.25x
EV/FCF	24.9x	25.38x	23.56x	21.58x
FCF Yield	5.52%	3.94%	5.92%	6.56%