HWX.TO 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	3.32B EUR	2.81B EUR	3.06B EUR
Enterprise Value	3.21B EUR	2.73B EUR	2.99B EUR
Valuation Multiples
Trailing P/E	17.9x	14.94x	19.98x
Forward P/E	21.15x	--	--
Price to Sales	5.61x	3.96x	4.75x
Price to Book	4.08x	3.45x	4.03x
EV/Revenue	5.43x	3.84x	4.66x
EV/EBITDA	8.83x	7.13x	8.62x
Price to FCF (P/FCF)	50.97x	39.66x	122.27x
EV/FCF	49.36x	38.45x	119.83x
FCF Yield	1.96%	2.52%	0.82%