L3H.F 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	251.85B EUR	374.1B EUR	448.68B EUR	349.93B EUR
Enterprise Value	289.21B EUR	415.8B EUR	501.2B EUR	395.94B EUR
Valuation Multiples
Trailing P/E	11.08x	14.4x	23.93x	26.8x
Forward P/E	8.58x	--	--	--
Price to Sales	0.85x	1.26x	1.68x	1.77x
Price to Book	1.53x	2.07x	2.58x	2.01x
EV/Revenue	0.98x	1.4x	1.87x	2x
EV/EBITDA	5.02x	6.66x	9.45x	10.83x
Price to FCF (P/FCF)	11.74x	11.86x	21.75x	19.09x
EV/FCF	13.48x	13.18x	24.29x	21.61x
FCF Yield	8.52%	8.43%	4.6%	5.24%