WFC-PZ 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	--	56.57B EUR	58.22B EUR	60.28B EUR
Enterprise Value	50.34B EUR	60.5B EUR	99.66B EUR	79.1B EUR
Valuation Multiples
Trailing P/E	3.46x	2.5x	2.68x	3.67x
Forward P/E	--	--	--	--
Price to Sales	--	0.65x	0.69x	0.95x
Price to Book	0.31x	0.31x	0.33x	0.33x
EV/Revenue	0.61x	0.7x	1.18x	1.25x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	2.95x	49.38x	--
EV/FCF	--	3.16x	84.53x	--
FCF Yield	--	33.89%	2.02%	-13.21%