LOPE 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	4.17B EUR	3.75B EUR	4.54B EUR	4.56B EUR
Enterprise Value	3.95B EUR	3.69B EUR	4.55B EUR	4.55B EUR
Valuation Multiples
Trailing P/E	19.35x	16.75x	20.65x	31.52x
Forward P/E	14.13x	--	--	--
Price to Sales	3.65x	3.29x	4.03x	5.58x
Price to Book	6.18x	5.61x	6.52x	6.1x
EV/Revenue	3.46x	3.23x	4.04x	5.57x
EV/EBITDA	11.02x	9.31x	11.69x	16.08x
Price to FCF (P/FCF)	20.24x	15.48x	17.46x	25.32x
EV/FCF	19.22x	15.21x	17.5x	25.3x
FCF Yield	4.94%	6.46%	5.73%	3.95%