DLR 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	67.51B EUR	63.59B EUR	62.88B EUR	53.15B EUR
Enterprise Value	86.16B EUR	63.59B EUR	79.67B EUR	69.36B EUR
Valuation Multiples
Trailing P/E	86.78x	183.94x	45.63x	40.62x
Forward P/E	64.72x	--	--	--
Price to Sales	9.99x	13.12x	9.92x	8.7x
Price to Book	2.48x	--	2.69x	2.32x
EV/Revenue	12.75x	13.12x	12.57x	11.35x
EV/EBITDA	26.84x	27.1x	25.97x	23.54x
Price to FCF (P/FCF)	17.91x	33.4x	24.7x	22.04x
EV/FCF	22.86x	33.4x	31.3x	28.75x
FCF Yield	5.58%	2.99%	4.05%	4.54%