PNDX-B.ST 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	29.54B EUR	33.67B EUR	34.91B EUR	39.5B EUR
Enterprise Value	82.87B EUR	86.63B EUR	87.05B EUR	91.36B EUR
Valuation Multiples
Trailing P/E	9.28x	13.19x	11.51x	15.76x
Forward P/E	13.88x	--	--	--
Price to Sales	3.73x	5.66x	6.16x	7.19x
Price to Book	0.85x	0.97x	1x	1.17x
EV/Revenue	10.47x	14.57x	15.37x	16.62x
EV/EBITDA	17.26x	21.6x	21.45x	24.53x
Price to FCF (P/FCF)	18.87x	--	--	--
EV/FCF	52.93x	--	--	--
FCF Yield	5.3%	-32.7%	-34.73%	-33.19%