UGR.F 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	7.03B EUR	4.52B EUR	4.75B EUR	3.55B EUR
Enterprise Value	19.45B EUR	19.44B EUR	22.01B EUR	22.21B EUR
Valuation Multiples
Trailing P/E	12.45x	1.31x	1.58x	1.67x
Forward P/E	27.5x	--	--	--
Price to Sales	0.05x	0.03x	0.03x	0.03x
Price to Book	2.52x	0.25x	0.29x	0.23x
EV/Revenue	0.13x	0.13x	0.15x	0.2x
EV/EBITDA	2.13x	1.84x	2.37x	3.35x
Price to FCF (P/FCF)	1.21x	0.53x	1.04x	0.93x
EV/FCF	3.34x	2.29x	4.83x	5.8x
FCF Yield	82.84%	187.68%	96.1%	107.84%