RAND.AS Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	6.21B EUR	4.42B EUR	3.91B EUR
Enterprise Value	8.06B EUR	6.26B EUR	5.52B EUR
Valuation Multiples
Trailing P/E	19.9x	15.52x	13.98x
Forward P/E	12.21x	--	--
Price to Sales	0.27x	0.19x	0.17x
Price to Book	1.59x	1.13x	1.03x
EV/Revenue	0.35x	0.27x	0.24x
EV/EBITDA	12.71x	7.63x	6.77x
Price to FCF (P/FCF)	17.24x	10.29x	8.57x
EV/FCF	22.35x	14.55x	12.08x
FCF Yield	5.8%	9.72%	11.68%