TTW-R.BK 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	39.9B EUR	36.68B EUR	36.68B EUR	35.75B EUR
Enterprise Value	42.88B EUR	42.25B EUR	42.41B EUR	41.69B EUR
Valuation Multiples
Trailing P/E	12.82x	11.71x	11.22x	13.76x
Forward P/E	--	--	--	--
Price to Sales	7.53x	6.94x	6.98x	9.03x
Price to Book	2.38x	2.19x	2.12x	2.15x
EV/Revenue	8.09x	7.99x	8.07x	10.53x
EV/EBITDA	10.61x	9.05x	8.92x	11.27x
Price to FCF (P/FCF)	15.23x	11.6x	11.92x	16.46x
EV/FCF	16.37x	13.37x	13.78x	19.2x
FCF Yield	6.57%	8.62%	8.39%	6.08%