JCAP 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	1.14B EUR	1.12B EUR	1.06B EUR	1.3B EUR
Enterprise Value	2.53B EUR	2.5B EUR	2.48B EUR	2.69B EUR
Valuation Multiples
Trailing P/E	21.9x	7.21x	6.6x	10.52x
Forward P/E	6.48x	--	--	--
Price to Sales	1.78x	1.7x	1.68x	2.84x
Price to Book	2.4x	2.35x	2.4x	2.74x
EV/Revenue	3.94x	3.8x	3.9x	5.86x
EV/EBITDA	6.5x	7.53x	7.61x	11.21x
Price to FCF (P/FCF)	--	5.08x	4.16x	6.02x
EV/FCF	--	11.38x	9.68x	12.43x
FCF Yield	-11.15%	19.68%	24.03%	16.6%