PGY 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	1.52B EUR	1.52B EUR	964.33M EUR	1.71B EUR
Enterprise Value	1.23B EUR	2.18B EUR	1.57B EUR	2.34B EUR
Valuation Multiples
Trailing P/E	13.2x	11.99x	9.82x	23.33x
Forward P/E	4.44x	--	--	--
Price to Sales	1.09x	1.15x	0.75x	1.75x
Price to Book	2.56x	2.56x	1.82x	3.57x
EV/Revenue	0.88x	1.64x	1.23x	2.39x
EV/EBITDA	3.49x	4.58x	3.77x	7.38x
Price to FCF (P/FCF)	7.34x	6.04x	4.12x	8.83x
EV/FCF	5.92x	8.65x	6.73x	12.05x
FCF Yield	13.63%	16.55%	24.27%	11.32%