DIR-UN.TO 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	3.75B EUR	4.02B EUR	3.57B EUR	3.7B EUR
Enterprise Value	6.36B EUR	6.74B EUR	6.41B EUR	6.79B EUR
Valuation Multiples
Trailing P/E	21.91x	32.81x	25.59x	29.79x
Forward P/E	11.25x	--	--	--
Price to Sales	6.77x	10.23x	9.24x	9.8x
Price to Book	0.76x	0.85x	0.75x	0.77x
EV/Revenue	11.48x	17.13x	16.58x	17.99x
EV/EBITDA	18.25x	22.57x	22.57x	25.11x
Price to FCF (P/FCF)	31.9x	18.51x	13.95x	12.31x
EV/FCF	54.11x	31.01x	25.03x	22.59x
FCF Yield	3.14%	5.4%	7.17%	8.13%