SSB 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	9.72B EUR	9.69B EUR	9.06B EUR	9.33B EUR
Enterprise Value	10.09B EUR	9.71B EUR	8.86B EUR	9.13B EUR
Valuation Multiples
Trailing P/E	10.53x	10.2x	9.69x	13.15x
Forward P/E	9.66x	--	--	--
Price to Sales	3.63x	3.65x	3.42x	4.7x
Price to Book	1.06x	1.06x	1x	1.03x
EV/Revenue	3.77x	3.65x	3.35x	4.6x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	11.26x	13.88x	25.24x
EV/FCF	--	11.28x	13.58x	24.7x
FCF Yield	--	8.88%	7.2%	3.96%