HOV Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q3 '26 31.07.2026	Q2 '26 30.04.2026	Q1 '26 31.01.2026	Q4 '25 31.10.2025
Market & Enterprise Value
Market Cap	619.95M EUR	738.29M EUR	657.92M EUR	668.92M EUR	714.21M EUR
Enterprise Value	1.62B EUR	1.42B EUR	1.28B EUR	1.26B EUR	1.37B EUR
Valuation Multiples
Trailing P/E	101.73x	40.77x	18.01x	18.17x	44.78x
Forward P/E	8.25x	--	--	--	--
Price to Sales	0.22x	0.26x	0.23x	0.3x	0.44x
Price to Book	0.92x	0.9x	0.8x	0.8x	0.86x
EV/Revenue	0.57x	0.5x	0.44x	0.56x	0.85x
EV/EBITDA	21.71x	12.15x	9.22x	10.26x	17.47x
Price to FCF (P/FCF)	--	3.73x	2.42x	1.96x	3.4x
EV/FCF	--	7.2x	4.72x	3.68x	6.54x
FCF Yield	-15.09%	26.79%	41.26%	51.11%	29.37%