DINO 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	21.57B EUR	12.5B EUR	11.25B EUR	8.38B EUR
Enterprise Value	22.6B EUR	12.5B EUR	13.35B EUR	10.63B EUR
Valuation Multiples
Trailing P/E	11.55x	12.22x	9.14x	14.47x
Forward P/E	8.86x	--	--	--
Price to Sales	0.69x	0.6x	0.41x	0.31x
Price to Book	2.1x	--	1.16x	0.91x
EV/Revenue	0.72x	0.6x	0.48x	0.4x
EV/EBITDA	7.05x	5.87x	5.03x	5.68x
Price to FCF (P/FCF)	10.59x	14.74x	8.49x	10.55x
EV/FCF	11.1x	14.74x	10.09x	13.39x
FCF Yield	9.44%	6.79%	11.77%	9.48%