HEI Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q3 '26 31.07.2026	Q2 '26 30.04.2026
Market & Enterprise Value
Market Cap	41.69B EUR	49.8B EUR	37.7B EUR
Enterprise Value	44.35B EUR	52.1B EUR	40.07B EUR
Valuation Multiples
Trailing P/E	49.71x	58.75x	47.74x
Forward P/E	41.27x	--	--
Price to Sales	8.05x	9.62x	7.68x
Price to Book	8.43x	10.07x	7.9x
EV/Revenue	8.57x	10.06x	8.16x
EV/EBITDA	30.09x	35.52x	29.29x
Price to FCF (P/FCF)	49.31x	48.34x	40.71x
EV/FCF	52.46x	50.57x	43.28x
FCF Yield	2.03%	2.07%	2.46%