NATU3.SA 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	10.23B EUR	12B EUR	14.35B EUR	10.24B EUR
Enterprise Value	14.53B EUR	17.46B EUR	19.49B EUR	15.51B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	7.89x	--	--	--
Price to Sales	0.48x	0.56x	0.66x	0.6x
Price to Book	0.81x	0.95x	1.15x	0.79x
EV/Revenue	0.68x	0.82x	0.9x	0.91x
EV/EBITDA	8.5x	10.39x	10.94x	9.28x
Price to FCF (P/FCF)	2.68x	--	--	--
EV/FCF	3.81x	--	--	--
FCF Yield	37.28%	-3.06%	-6.93%	-3.13%