SSD 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	7.01B EUR	8.54B EUR	7.05B EUR	6.66B EUR
Enterprise Value	7.04B EUR	8.52B EUR	7.17B EUR	6.76B EUR
Valuation Multiples
Trailing P/E	18.7x	22.55x	19.83x	24.93x
Forward P/E	17.62x	--	--	--
Price to Sales	2.9x	3.53x	2.96x	3.71x
Price to Book	3.3x	4.02x	3.41x	3.27x
EV/Revenue	2.91x	3.52x	3.01x	3.77x
EV/EBITDA	12.16x	15x	13.15x	16.89x
Price to FCF (P/FCF)	15.71x	18.24x	19.68x	19.58x
EV/FCF	15.78x	18.19x	20.01x	19.88x
FCF Yield	6.36%	5.48%	5.08%	5.11%