MING.OL 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	30.14B EUR	27.11B EUR	29.77B EUR	29.71B EUR
Enterprise Value	35.23B EUR	77.94B EUR	68.6B EUR	77.81B EUR
Valuation Multiples
Trailing P/E	11.34x	8.98x	10.01x	9.51x
Forward P/E	10.53x	--	--	--
Price to Sales	3.45x	4.64x	5.01x	4.91x
Price to Book	1.07x	0.9x	1.02x	0.95x
EV/Revenue	4.03x	13.33x	11.54x	12.86x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	3.3x	2.57x	2.62x
EV/FCF	--	9.49x	5.93x	6.86x
FCF Yield	--	30.29%	38.88%	38.16%