MFA 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	695.48M EUR	979.54M EUR	973.29M EUR	946.48M EUR
Enterprise Value	12.25B EUR	7.27B EUR	7.25B EUR	7.33B EUR
Valuation Multiples
Trailing P/E	6.81x	6.61x	7.23x	6.98x
Forward P/E	4.97x	--	--	--
Price to Sales	2.3x	3.62x	3.78x	4.23x
Price to Book	0.39x	0.55x	0.55x	0.52x
EV/Revenue	40.46x	26.88x	28.18x	32.76x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	3.88x	6.01x	10.42x
EV/FCF	--	28.83x	44.77x	80.74x
FCF Yield	--	25.75%	16.63%	9.59%