SEER3.SA 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	2.23B EUR	1.42B EUR	1.7B EUR	1.25B EUR
Enterprise Value	3.28B EUR	2.55B EUR	2.81B EUR	2.45B EUR
Valuation Multiples
Trailing P/E	8.23x	5.24x	6.87x	7.34x
Forward P/E	7.01x	--	--	--
Price to Sales	0.99x	0.62x	0.75x	0.75x
Price to Book	1.47x	0.93x	1.2x	0.93x
EV/Revenue	1.45x	1.11x	1.24x	1.46x
EV/EBITDA	5.37x	3.38x	3.84x	4.53x
Price to FCF (P/FCF)	6.62x	4.1x	5.25x	5.87x
EV/FCF	9.7x	7.36x	8.68x	11.5x
FCF Yield	15.11%	24.37%	19.06%	17.04%