SAPR4.SA 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	13.07B EUR	10.79B EUR	12.86B EUR	11.83B EUR
Enterprise Value	5.07B EUR	13.43B EUR	14.83B EUR	13.62B EUR
Valuation Multiples
Trailing P/E	30.89x	23.7x	10.5x	13.58x
Forward P/E	11.09x	--	--	--
Price to Sales	1.73x	1.43x	1.75x	2.19x
Price to Book	0.22x	0.89x	1.01x	0.96x
EV/Revenue	0.67x	1.78x	2.02x	2.52x
EV/EBITDA	1.74x	9.3x	10.98x	53.89x
Price to FCF (P/FCF)	--	2.52x	2.65x	2.82x
EV/FCF	--	3.14x	3.06x	3.25x
FCF Yield	-2.85%	39.64%	37.7%	35.46%