4321.SR 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	7.16B EUR	7.49B EUR	7.49B EUR	8.28B EUR
Enterprise Value	24.39B EUR	24.68B EUR	23.79B EUR	23.76B EUR
Valuation Multiples
Trailing P/E	6.16x	6.43x	5.98x	7.88x
Forward P/E	5.8x	--	--	--
Price to Sales	3.17x	3.31x	3.29x	4.88x
Price to Book	0.44x	0.47x	0.48x	0.53x
EV/Revenue	10.81x	10.88x	10.43x	14x
EV/EBITDA	18.8x	17.23x	15.55x	22.68x
Price to FCF (P/FCF)	16.9x	5.35x	4.4x	5.21x
EV/FCF	57.56x	17.6x	13.98x	14.95x
FCF Yield	5.92%	18.71%	22.72%	19.21%