LHX 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	44.13B EUR	54.1B EUR	64.41B EUR	54.85B EUR
Enterprise Value	55.53B EUR	63.57B EUR	75.17B EUR	64.9B EUR
Valuation Multiples
Trailing P/E	23.89x	29.08x	37.19x	44.96x
Forward P/E	17.5x	--	--	--
Price to Sales	1.92x	2.36x	2.87x	3.28x
Price to Book	2.22x	2.59x	3.27x	2.79x
EV/Revenue	2.42x	2.77x	3.34x	3.88x
EV/EBITDA	13.41x	15.93x	19.55x	22.78x
Price to FCF (P/FCF)	27.43x	19.26x	24.88x	19.71x
EV/FCF	34.51x	22.64x	29.04x	23.32x
FCF Yield	3.65%	5.19%	4.02%	5.07%