ENR 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	1.46B EUR	1.47B EUR	1.12B EUR	1.36B EUR
Enterprise Value	4.73B EUR	4.73B EUR	4.36B EUR	4.57B EUR
Valuation Multiples
Trailing P/E	17.92x	18.02x	5.76x	7.36x
Forward P/E	6.31x	--	--	--
Price to Sales	0.49x	0.49x	0.38x	0.58x
Price to Book	7.19x	7.23x	6.49x	9.64x
EV/Revenue	1.58x	1.58x	1.46x	1.96x
EV/EBITDA	10.49x	10.49x	7.69x	10.23x
Price to FCF (P/FCF)	7.51x	9.75x	7.05x	7.62x
EV/FCF	24.3x	31.38x	27.34x	25.58x
FCF Yield	13.32%	10.26%	14.18%	13.13%