WCN 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	38.45B EUR	42.03B EUR	41.29B EUR	44.82B EUR
Enterprise Value	48.53B EUR	51.54B EUR	50.61B EUR	53.91B EUR
Valuation Multiples
Trailing P/E	36.92x	39.63x	39.16x	53.68x
Forward P/E	24.63x	--	--	--
Price to Sales	3.94x	4.3x	4.3x	6.19x
Price to Book	4.87x	5.31x	5.12x	5.44x
EV/Revenue	4.97x	5.28x	5.27x	7.45x
EV/EBITDA	15.53x	15.88x	15.97x	22.42x
Price to FCF (P/FCF)	36.66x	36.03x	36.24x	50.33x
EV/FCF	46.28x	44.18x	44.41x	60.53x
FCF Yield	2.73%	2.78%	2.76%	1.99%