KTB 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	3.59B EUR	4.55B EUR	3.88B EUR	3.37B EUR
Enterprise Value	4.84B EUR	5.77B EUR	5.1B EUR	4.56B EUR
Valuation Multiples
Trailing P/E	16.04x	17x	14x	18.28x
Forward P/E	9.97x	--	--	--
Price to Sales	1.04x	1.48x	1.3x	1.43x
Price to Book	5.8x	7.36x	6.27x	5.97x
EV/Revenue	1.41x	1.88x	1.71x	1.93x
EV/EBITDA	8.02x	13.86x	12.24x	14.57x
Price to FCF (P/FCF)	8.14x	10.91x	9.83x	9.46x
EV/FCF	10.99x	13.82x	12.92x	12.78x
FCF Yield	12.29%	9.16%	10.18%	10.57%