TT 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	104.95B EUR	108.57B EUR	92.18B EUR	86.2B EUR
Enterprise Value	106.72B EUR	111.87B EUR	95.73B EUR	89.05B EUR
Valuation Multiples
Trailing P/E	35.54x	36.82x	31.81x	37.25x
Forward P/E	27.1x	--	--	--
Price to Sales	4.73x	4.89x	4.27x	5.18x
Price to Book	12.19x	12.59x	10.73x	10.05x
EV/Revenue	4.81x	5.04x	4.43x	5.35x
EV/EBITDA	24.77x	25.7x	22.37x	26.3x
Price to FCF (P/FCF)	33.62x	30.61x	29.38x	33.27x
EV/FCF	34.19x	31.54x	30.51x	34.37x
FCF Yield	2.97%	3.27%	3.4%	3.01%