ZIM 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	3.61B EUR	3.13B EUR	3.18B EUR	2.56B EUR
Enterprise Value	7.32B EUR	7.41B EUR	7.73B EUR	7.23B EUR
Valuation Multiples
Trailing P/E	26.08x	22.61x	32.44x	13.91x
Forward P/E	4.48x	--	--	--
Price to Sales	0.56x	0.49x	0.5x	0.52x
Price to Book	0.93x	0.81x	0.83x	0.64x
EV/Revenue	1.14x	1.15x	1.23x	1.48x
EV/EBITDA	15.69x	3.86x	4x	4.52x
Price to FCF (P/FCF)	3.65x	2.09x	2.07x	1.96x
EV/FCF	7.39x	4.93x	5.03x	5.54x
FCF Yield	27.43%	47.95%	48.38%	51.03%