3526.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	18.14B EUR	20.48B EUR	17.72B EUR	15.93B EUR
Enterprise Value	16.43B EUR	20.85B EUR	17.52B EUR	15.42B EUR
Valuation Multiples
Trailing P/E	17.53x	22.7x	20.09x	19x
Forward P/E	9.78x	--	--	--
Price to Sales	4.13x	5.98x	5.65x	5.38x
Price to Book	4.39x	4.95x	4.94x	3.78x
EV/Revenue	3.74x	6.09x	5.59x	5.21x
EV/EBITDA	10.72x	16.32x	14.31x	13.01x
Price to FCF (P/FCF)	33.85x	28.67x	30.47x	25.24x
EV/FCF	30.65x	29.19x	30.14x	24.42x
FCF Yield	2.95%	3.49%	3.28%	3.96%