SOLS 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	9.75B EUR	14.07B EUR	12.09B EUR	7.71B EUR
Enterprise Value	11.25B EUR	15.75B EUR	13.88B EUR	9.67B EUR
Valuation Multiples
Trailing P/E	46.48x	67.02x	64.33x	32.54x
Forward P/E	18.17x	--	--	--
Price to Sales	2.38x	3.44x	3.04x	2.58x
Price to Book	6.14x	8.87x	8.14x	5.47x
EV/Revenue	2.75x	3.85x	3.49x	3.24x
EV/EBITDA	12.61x	16.14x	14.11x	13.12x
Price to FCF (P/FCF)	--	78.62x	94.48x	1,542.39x
EV/FCF	--	87.99x	108.47x	1,934.59x
FCF Yield	-0.28%	1.27%	1.06%	0.06%