UGPA3.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	41.59B EUR	27.9B EUR	30.69B EUR	22.34B EUR
Enterprise Value	54.19B EUR	42.81B EUR	47.96B EUR	40.99B EUR
Valuation Multiples
Trailing P/E	11.92x	8.07x	10.24x	10.53x
Forward P/E	12.76x	--	--	--
Price to Sales	0.27x	0.18x	0.21x	0.2x
Price to Book	2.54x	1.55x	1.86x	1.43x
EV/Revenue	0.35x	0.28x	0.33x	0.38x
EV/EBITDA	5.93x	4.06x	5.17x	6.19x
Price to FCF (P/FCF)	7.14x	3.29x	6.73x	5.84x
EV/FCF	9.3x	5.05x	10.52x	10.71x
FCF Yield	14.01%	30.39%	14.86%	17.13%