RF-PE 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	--	13.74B EUR	13.93B EUR	14.96B EUR
Enterprise Value	19B EUR	11.24B EUR	7.92B EUR	8.93B EUR
Valuation Multiples
Trailing P/E	6.39x	6.15x	6.26x	8.98x
Forward P/E	--	--	--	--
Price to Sales	--	1.8x	1.83x	2.6x
Price to Book	0.75x	0.73x	0.74x	0.79x
EV/Revenue	2.63x	1.48x	1.04x	1.56x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	7.85x	7.13x	13.72x
EV/FCF	--	6.42x	4.05x	8.2x
FCF Yield	--	12.74%	14.02%	7.29%