PECO 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	5.3B EUR	5.35B EUR	4.71B EUR	4.47B EUR
Enterprise Value	7.55B EUR	7.92B EUR	7.32B EUR	6.96B EUR
Valuation Multiples
Trailing P/E	32.96x	37.19x	40.86x	52.64x
Forward P/E	53.57x	--	--	--
Price to Sales	7.06x	7.12x	6.38x	8.16x
Price to Book	2.03x	2.25x	2.07x	1.96x
EV/Revenue	10.05x	10.55x	9.91x	12.7x
EV/EBITDA	16.31x	16.44x	15.46x	19.9x
Price to FCF (P/FCF)	33.11x	22.48x	22.78x	25.16x
EV/FCF	47.13x	33.32x	35.39x	39.16x
FCF Yield	3.02%	4.45%	4.39%	3.97%