HEM.ST Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	6.21B EUR	6.69B EUR	9.85B EUR
Enterprise Value	7B EUR	7.38B EUR	10.46B EUR
Valuation Multiples
Trailing P/E	16.46x	14.97x	22.57x
Forward P/E	8.64x	--	--
Price to Sales	4.66x	4.61x	7x
Price to Book	7.48x	7.92x	10.2x
EV/Revenue	5.25x	5.09x	7.44x
EV/EBITDA	12.18x	10.91x	15.82x
Price to FCF (P/FCF)	16.4x	13.11x	21.23x
EV/FCF	18.49x	14.47x	22.55x
FCF Yield	6.1%	7.62%	4.71%