EMR 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	90.64B EUR	79.99B EUR	73.38B EUR	74.59B EUR
Enterprise Value	100.36B EUR	79.99B EUR	85.65B EUR	86.76B EUR
Valuation Multiples
Trailing P/E	35.41x	43.03x	30.01x	32.26x
Forward P/E	22.26x	--	--	--
Price to Sales	4.86x	5.81x	4.01x	4.1x
Price to Book	4.43x	--	3.61x	3.68x
EV/Revenue	5.39x	5.81x	4.68x	4.77x
EV/EBITDA	16.57x	19.3x	15.66x	15.95x
Price to FCF (P/FCF)	24.46x	37.41x	23.56x	28.97x
EV/FCF	27.08x	37.41x	27.5x	33.69x
FCF Yield	4.09%	2.67%	4.24%	3.45%