STUB 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	2.34B EUR	4.89B EUR	2.33B EUR	4.68B EUR
Enterprise Value	2.48B EUR	4.59B EUR	2.3B EUR	4.95B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	10.05x	--	--	--
Price to Sales	1.21x	2.53x	1.3x	3.47x
Price to Book	1.43x	3.01x	1.49x	3.96x
EV/Revenue	1.28x	2.37x	1.28x	3.67x
EV/EBITDA	-1.94x	--	--	--
Price to FCF (P/FCF)	2.14x	8.18x	7.83x	661.44x
EV/FCF	2.28x	7.69x	7.73x	698.93x
FCF Yield	46.64%	12.22%	12.76%	0.15%