MAR 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	95.41B EUR	97.02B EUR	86.58B EUR
Enterprise Value	111.47B EUR	114.33B EUR	103.53B EUR
Valuation Multiples
Trailing P/E	37.88x	37.5x	33.5x
Forward P/E	27.81x	--	--
Price to Sales	12.92x	3.61x	3.26x
Price to Book	--	--	--
EV/Revenue	15.09x	4.25x	3.9x
EV/EBITDA	23.16x	22.8x	20.94x
Price to FCF (P/FCF)	46.31x	30.98x	30.66x
EV/FCF	54.1x	36.5x	36.66x
FCF Yield	2.16%	3.23%	3.26%