600645.SS 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	8.94B EUR	8.01B EUR	14.46B EUR	11.79B EUR
Enterprise Value	7B EUR	6.79B EUR	12.95B EUR	10.85B EUR
Valuation Multiples
Trailing P/E	76.4x	119.55x	241.36x	185.14x
Forward P/E	43.41x	--	--	--
Price to Sales	6.39x	7.84x	13.83x	10.93x
Price to Book	2.33x	2.14x	3.89x	3.18x
EV/Revenue	5.01x	6.65x	12.39x	10.06x
EV/EBITDA	29.93x	47x	83.97x	68.42x
Price to FCF (P/FCF)	41.12x	41.75x	89.26x	66.43x
EV/FCF	32.21x	35.41x	79.94x	61.14x
FCF Yield	2.43%	2.4%	1.12%	1.51%