MU Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 31.05.2026	Q1 '26 28.02.2026	Q4 '25 30.11.2025
Market & Enterprise Value
Market Cap	1.16T EUR	1.1T EUR	465.15B EUR	266.28B EUR
Enterprise Value	1.13T EUR	1.08T EUR	462.04B EUR	268.97B EUR
Valuation Multiples
Trailing P/E	13.84x	21.73x	19.29x	25.79x
Forward P/E	4.99x	--	--	--
Price to Sales	8.74x	12.15x	8x	7.77x
Price to Book	11.53x	10.89x	6.42x	4.53x
EV/Revenue	8.5x	11.94x	7.95x	7.85x
EV/EBITDA	10.4x	15.78x	12.47x	14.48x
Price to FCF (P/FCF)	39.85x	41.9x	45.24x	55.88x
EV/FCF	38.76x	41.19x	44.94x	56.45x
FCF Yield	2.51%	2.39%	2.21%	1.79%