STWD 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	4.83B EUR	6.07B EUR	6.38B EUR	6.67B EUR
Enterprise Value	28.8B EUR	19.64B EUR	19.17B EUR	19.38B EUR
Valuation Multiples
Trailing P/E	21.18x	26.64x	18.18x	22.3x
Forward P/E	6.74x	--	--	--
Price to Sales	8.08x	7.48x	7.77x	10.33x
Price to Book	0.72x	0.93x	0.96x	0.98x
EV/Revenue	48.22x	24.19x	23.33x	29.99x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	12.62x	15.2x	14.03x
EV/FCF	--	40.82x	45.66x	40.74x
FCF Yield	--	7.92%	6.58%	7.13%