SKY 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	4.32B EUR	4.78B EUR	4.08B EUR	4.67B EUR
Enterprise Value	3.76B EUR	4.12B EUR	3.56B EUR	4.13B EUR
Valuation Multiples
Trailing P/E	23.22x	24.99x	19.71x	26.36x
Forward P/E	18.68x	--	--	--
Price to Sales	1.62x	1.79x	1.53x	2.29x
Price to Book	2.75x	3.04x	2.59x	2.93x
EV/Revenue	1.41x	1.54x	1.34x	2.02x
EV/EBITDA	13.17x	13.46x	11x	15.32x
Price to FCF (P/FCF)	23.46x	17.98x	15.12x	20.65x
EV/FCF	20.41x	15.49x	13.19x	18.26x
FCF Yield	4.26%	5.56%	6.61%	4.84%