HWBK 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	276.61M EUR	271.2M EUR	232.12M EUR	240.72M EUR
Enterprise Value	313.85M EUR	321M EUR	277.92M EUR	290.86M EUR
Valuation Multiples
Trailing P/E	10.31x	10.68x	9.61x	13.07x
Forward P/E	--	--	--	--
Price to Sales	3.3x	3.19x	2.84x	3.91x
Price to Book	1.43x	1.48x	1.32x	1.38x
EV/Revenue	3.74x	3.78x	3.4x	4.73x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	9.72x	9.89x	13.85x
EV/FCF	--	11.5x	11.84x	16.74x
FCF Yield	--	10.29%	10.12%	7.22%