EHC 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	12.17B EUR	9.99B EUR	9.62B EUR	10.61B EUR
Enterprise Value	15.69B EUR	12.72B EUR	12.3B EUR	13.26B EUR
Valuation Multiples
Trailing P/E	20.62x	16.08x	15.79x	25.59x
Forward P/E	18.47x	--	--	--
Price to Sales	1.96x	1.61x	1.59x	2.37x
Price to Book	4.69x	3.84x	3.81x	4.35x
EV/Revenue	2.53x	2.05x	2.03x	2.96x
EV/EBITDA	10.72x	8.46x	8.41x	12.57x
Price to FCF (P/FCF)	52.92x	24.16x	20.71x	33.83x
EV/FCF	68.23x	30.77x	26.48x	42.25x
FCF Yield	1.89%	4.14%	4.83%	2.96%