TOTS3.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	23.92B EUR	16.45B EUR	20.26B EUR	24.73B EUR
Enterprise Value	26.4B EUR	19.46B EUR	23.69B EUR	24.78B EUR
Valuation Multiples
Trailing P/E	28.32x	13.91x	29.68x	38.14x
Forward P/E	20.09x	--	--	--
Price to Sales	3.63x	3.37x	4.64x	6.1x
Price to Book	4.43x	3.01x	4.08x	4.84x
EV/Revenue	4.01x	3.99x	5.42x	6.11x
EV/EBITDA	18.31x	11.01x	14.73x	21.67x
Price to FCF (P/FCF)	34.76x	14.46x	19.78x	29.01x
EV/FCF	38.36x	17.1x	23.13x	29.07x
FCF Yield	2.88%	6.92%	5.05%	3.45%