WMS 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	9.49B EUR	11.89B EUR	10.58B EUR	10.58B EUR
Enterprise Value	11.15B EUR	13.49B EUR	12.15B EUR	11.02B EUR
Valuation Multiples
Trailing P/E	21.43x	26.36x	24.82x	26.89x
Forward P/E	17.12x	--	--	--
Price to Sales	2.94x	3.69x	3.47x	4.46x
Price to Book	5.01x	6.38x	5.48x	5.27x
EV/Revenue	3.46x	4.19x	3.98x	4.64x
EV/EBITDA	11.77x	14.44x	13.76x	14.96x
Price to FCF (P/FCF)	28.98x	21.61x	18.59x	18.17x
EV/FCF	34.07x	24.52x	21.35x	18.92x
FCF Yield	3.45%	4.63%	5.38%	5.5%