CNC 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	32.29B EUR	31.71B EUR	16.17B EUR	20.24B EUR
Enterprise Value	21.03B EUR	23.66B EUR	11.27B EUR	20.51B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	12.22x	--	--	--
Price to Sales	0.18x	0.16x	0.08x	0.14x
Price to Book	1.43x	1.41x	0.75x	1.01x
EV/Revenue	0.12x	0.12x	0.06x	0.14x
EV/EBITDA	4.57x	8.27x	8.83x	--
Price to FCF (P/FCF)	3.35x	3.54x	2.27x	6.87x
EV/FCF	2.18x	2.64x	1.59x	6.96x
FCF Yield	29.86%	28.23%	43.99%	14.56%