MKTX 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	5.79B EUR	3.99B EUR	5.86B EUR	6.48B EUR
Enterprise Value	5.63B EUR	3.93B EUR	5.78B EUR	6.25B EUR
Valuation Multiples
Trailing P/E	19.43x	13.03x	18.95x	28x
Forward P/E	18.81x	--	--	--
Price to Sales	6.66x	4.59x	6.73x	10.17x
Price to Book	4.67x	3.22x	4.93x	5.66x
EV/Revenue	6.47x	4.51x	6.63x	9.8x
EV/EBITDA	12.94x	8.56x	12.45x	18.58x
Price to FCF (P/FCF)	--	28.01x	26.8x	20.82x
EV/FCF	--	27.54x	26.41x	20.07x
FCF Yield	-7.9%	3.57%	3.73%	4.8%