WU 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	1.91B EUR	2.4B EUR	2.73B EUR	2.94B EUR
Enterprise Value	3.75B EUR	3.74B EUR	3.87B EUR	4.41B EUR
Valuation Multiples
Trailing P/E	4.98x	6.07x	6.19x	7.81x
Forward P/E	4.07x	--	--	--
Price to Sales	0.47x	0.59x	0.67x	0.96x
Price to Book	2.1x	2.62x	3x	3.07x
EV/Revenue	0.93x	0.93x	0.96x	1.44x
EV/EBITDA	4.51x	4.49x	4.37x	6.19x
Price to FCF (P/FCF)	5.34x	5.66x	8.24x	10.92x
EV/FCF	10.5x	8.81x	11.68x	16.37x
FCF Yield	18.72%	17.66%	12.14%	9.16%