8932.TWO 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	39.2B EUR	38.42B EUR	28.51B EUR	29.7B EUR
Enterprise Value	37.77B EUR	37.12B EUR	27.35B EUR	28.76B EUR
Valuation Multiples
Trailing P/E	92.7x	50.96x	40.67x	57.93x
Forward P/E	--	--	--	--
Price to Sales	16.29x	15.95x	12.1x	16.96x
Price to Book	15.94x	15.65x	11.31x	13.05x
EV/Revenue	15.69x	15.41x	11.61x	16.42x
EV/EBITDA	32.25x	30.56x	23.68x	33.62x
Price to FCF (P/FCF)	32.53x	36.85x	30.28x	44.89x
EV/FCF	31.34x	35.6x	29.05x	43.47x
FCF Yield	3.07%	2.71%	3.3%	2.23%