WEST 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	798.59M EUR	791.75M EUR	414.55M EUR	394.24M EUR
Enterprise Value	1.71B EUR	1.32B EUR	964.34M EUR	925.98M EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	45.44x	--	--	--
Price to Sales	0.61x	0.6x	0.32x	0.4x
Price to Book	--	3.27x	1.64x	1.45x
EV/Revenue	1.3x	1.01x	0.75x	0.95x
EV/EBITDA	27.72x	20.82x	19.24x	34.98x
Price to FCF (P/FCF)	22.2x	--	--	--
EV/FCF	47.42x	--	--	--
FCF Yield	4.5%	-2%	-15.3%	-11.3%