WHF 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	150.76M EUR	143.89M EUR	161.48M EUR	154.53M EUR
Enterprise Value	466.96M EUR	459.88M EUR	473.83M EUR	471.33M EUR
Valuation Multiples
Trailing P/E	9x	8.2x	17.2x	15.34x
Forward P/E	7.18x	--	--	--
Price to Sales	2.31x	6.25x	10.53x	10.53x
Price to Book	0.6x	0.57x	0.65x	0.59x
EV/Revenue	7.16x	19.96x	30.9x	32.11x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	10.36x	1.85x	1.44x	1.83x
EV/FCF	32.09x	5.91x	4.21x	5.59x
FCF Yield	9.65%	54.1%	69.68%	54.54%