SPINNEYS.AE 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	4.41B EUR	4.68B EUR	4.25B EUR	5.44B EUR
Enterprise Value	4.6B EUR	4.91B EUR	4.38B EUR	5.7B EUR
Valuation Multiples
Trailing P/E	12.25x	13.4x	12.33x	21.5x
Forward P/E	11.41x	--	--	--
Price to Sales	1.18x	1.25x	1.13x	1.98x
Price to Book	9.14x	9.68x	10.85x	12.59x
EV/Revenue	1.23x	1.31x	1.17x	2.08x
EV/EBITDA	8.47x	6.39x	5.72x	9.92x
Price to FCF (P/FCF)	9.4x	7.47x	6.56x	10.54x
EV/FCF	9.81x	7.83x	6.76x	11.05x
FCF Yield	10.64%	13.39%	15.25%	9.48%