EZTC3.SA 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	5.48B EUR	3.61B EUR	3.88B EUR	3.81B EUR
Enterprise Value	5.17B EUR	5.36B EUR	5.57B EUR	5.47B EUR
Valuation Multiples
Trailing P/E	10.57x	6.8x	6.92x	8.64x
Forward P/E	8.61x	--	--	--
Price to Sales	3.81x	2.51x	2.57x	3.21x
Price to Book	1.05x	0.69x	0.75x	0.76x
EV/Revenue	3.6x	3.73x	3.69x	4.6x
EV/EBITDA	15.51x	8.39x	8.38x	11.03x
Price to FCF (P/FCF)	12.13x	6.81x	6.04x	7.84x
EV/FCF	11.45x	10.1x	8.68x	11.26x
FCF Yield	8.24%	14.68%	16.55%	12.76%