KCE-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	93.09B EUR	28.37B EUR	28.37B EUR	29.32B EUR
Enterprise Value	23B EUR	28.03B EUR	27.58B EUR	28.82B EUR
Valuation Multiples
Trailing P/E	100.96x	30.48x	33.89x	48.64x
Forward P/E	--	--	--	--
Price to Sales	7.08x	2.16x	2.21x	3.01x
Price to Book	1.79x	2.19x	2.12x	2.23x
EV/Revenue	1.75x	2.13x	2.15x	2.96x
EV/EBITDA	12.47x	12.83x	13.14x	18.64x
Price to FCF (P/FCF)	83.95x	17.77x	20.94x	27.39x
EV/FCF	20.74x	17.56x	20.36x	26.92x
FCF Yield	1.19%	5.63%	4.77%	3.65%