CWEN 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	7.45B EUR	7.02B EUR	4.75B EUR	3.97B EUR
Enterprise Value	16.99B EUR	16.66B EUR	14.37B EUR	13.14B EUR
Valuation Multiples
Trailing P/E	39.21x	77.1x	--	24.53x
Forward P/E	18.44x	--	--	--
Price to Sales	4.73x	4.46x	3.2x	3.51x
Price to Book	1.98x	3.79x	2.69x	2.07x
EV/Revenue	10.8x	10.58x	9.67x	11.62x
EV/EBITDA	14.55x	13.51x	12.44x	14.87x
Price to FCF (P/FCF)	17.65x	13.19x	8.5x	13.11x
EV/FCF	40.29x	31.31x	25.7x	43.38x
FCF Yield	5.66%	7.58%	11.77%	7.63%