1815.TWO 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	82.9B EUR	61.83B EUR	53.31B EUR	52.17B EUR
Enterprise Value	85.59B EUR	65.91B EUR	56.72B EUR	54.78B EUR
Valuation Multiples
Trailing P/E	39.36x	30.62x	46.64x	76.14x
Forward P/E	18.53x	--	--	--
Price to Sales	11.54x	8.61x	8.23x	11.36x
Price to Book	6.05x	4.51x	4.04x	4.14x
EV/Revenue	11.92x	9.18x	8.76x	11.93x
EV/EBITDA	35.15x	18.33x	22.32x	32.75x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-2.48%	-3.35%	-3.2%	-2.22%