KD 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	2.56B EUR	2.48B EUR	2.92B EUR	6B EUR
Enterprise Value	5.51B EUR	5.31B EUR	5.25B EUR	8.63B EUR
Valuation Multiples
Trailing P/E	31.76x	28.52x	14.76x	33.16x
Forward P/E	4.72x	--	--	--
Price to Sales	0.17x	0.17x	0.19x	0.53x
Price to Book	2.41x	2.32x	2.49x	5.03x
EV/Revenue	0.37x	0.35x	0.35x	0.76x
EV/EBITDA	4.21x	3.22x	3.13x	6.86x
Price to FCF (P/FCF)	0.96x	16.77x	8.59x	--
EV/FCF	2.08x	35.86x	15.46x	--
FCF Yield	103.64%	5.96%	11.64%	-0.7%