HMPRO-R.BK 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	82.48B EUR	76.8B EUR	77.11B EUR	91.45B EUR
Enterprise Value	104.87B EUR	99.06B EUR	97.42B EUR	112.54B EUR
Valuation Multiples
Trailing P/E	14.22x	16.7x	17.51x	19.42x
Forward P/E	--	--	--	--
Price to Sales	1.18x	1.51x	1.53x	1.77x
Price to Book	3.19x	2.97x	2.81x	3.5x
EV/Revenue	1.51x	1.95x	1.94x	2.17x
EV/EBITDA	9.78x	11.02x	11.2x	12.46x
Price to FCF (P/FCF)	20.19x	18.04x	28.45x	25.96x
EV/FCF	25.67x	23.27x	35.95x	31.95x
FCF Yield	4.95%	5.54%	3.51%	3.85%