WAY 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	5.12B EUR	3.94B EUR	4.62B EUR	6.27B EUR
Enterprise Value	6.37B EUR	5.41B EUR	6.07B EUR	7.7B EUR
Valuation Multiples
Trailing P/E	38.11x	29.23x	36.65x	75.76x
Forward P/E	14.19x	--	--	--
Price to Sales	4.24x	3.27x	4x	7.44x
Price to Book	1.3x	0.99x	1.17x	1.62x
EV/Revenue	5.28x	4.49x	5.25x	9.14x
EV/EBITDA	14.67x	12.51x	14.7x	26.45x
Price to FCF (P/FCF)	16.31x	14.86x	14.78x	20.78x
EV/FCF	20.29x	20.41x	19.42x	25.51x
FCF Yield	6.13%	6.73%	6.77%	4.81%