SHIP 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	370.73M EUR	291M EUR	279.74M EUR	194.88M EUR
Enterprise Value	628.97M EUR	526.4M EUR	530.65M EUR	437.01M EUR
Valuation Multiples
Trailing P/E	5.96x	4.77x	7.45x	6.94x
Forward P/E	6.74x	--	--	--
Price to Sales	1.91x	1.49x	1.58x	1.46x
Price to Book	1.18x	0.93x	0.97x	0.69x
EV/Revenue	3.24x	2.7x	3x	3.26x
EV/EBITDA	6.13x	6.92x	9.11x	10.42x
Price to FCF (P/FCF)	42.76x	33.02x	11.01x	4.33x
EV/FCF	72.54x	59.74x	20.88x	9.7x
FCF Yield	2.34%	3.03%	9.09%	23.12%