SBSI 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	898.5M EUR	1.05B EUR	924.98M EUR	903.28M EUR
Enterprise Value	2.16B EUR	2.31B EUR	1.45B EUR	1.25B EUR
Valuation Multiples
Trailing P/E	11.98x	13.8x	13.03x	18.93x
Forward P/E	9.32x	--	--	--
Price to Sales	3.67x	4.24x	3.82x	5.23x
Price to Book	1.02x	1.19x	1.08x	1.07x
EV/Revenue	8.83x	9.34x	5.98x	7.26x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	8.28x	9.54x	17.38x
EV/FCF	--	18.22x	14.95x	24.12x
FCF Yield	--	12.08%	10.48%	5.75%