CNR 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	4.39B EUR	3.99B EUR	5.3B EUR	4.51B EUR
Enterprise Value	4.37B EUR	3.96B EUR	5.34B EUR	4.53B EUR
Valuation Multiples
Trailing P/E	44.68x	39.84x	--	--
Forward P/E	13.31x	--	--	--
Price to Sales	1.03x	0.93x	1.25x	1.43x
Price to Book	1.19x	1.07x	1.45x	1.23x
EV/Revenue	1.02x	0.93x	1.26x	1.44x
EV/EBITDA	7.93x	5.86x	10.58x	13.35x
Price to FCF (P/FCF)	16.02x	9.45x	13.09x	24.56x
EV/FCF	15.94x	9.39x	13.2x	24.67x
FCF Yield	6.24%	10.58%	7.64%	4.07%