Q 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	26.5B EUR	--	--	--
Enterprise Value	30.36B EUR	--	--	--
Valuation Multiples
Trailing P/E	45.21x	--	--	--
Forward P/E	23.54x	--	--	--
Price to Sales	5.09x	--	--	--
Price to Book	3.65x	--	--	--
EV/Revenue	5.83x	--	--	--
EV/EBITDA	19.89x	--	--	--
Price to FCF (P/FCF)	34.32x	--	--	--
EV/FCF	39.31x	--	--	--
FCF Yield	2.91%	--	--	--