SPHR 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	3.82B EUR	6.21B EUR	4.2B EUR	3.37B EUR
Enterprise Value	4.29B EUR	6.58B EUR	4.5B EUR	3.83B EUR
Valuation Multiples
Trailing P/E	--	--	35.01x	29.26x
Forward P/E	-41.19x	--	--	--
Price to Sales	2.82x	4.58x	3.16x	3.59x
Price to Book	1.72x	2.79x	1.87x	1.51x
EV/Revenue	3.16x	4.85x	3.4x	4.08x
EV/EBITDA	16.85x	24.17x	15.72x	20.27x
Price to FCF (P/FCF)	8.63x	17.31x	12.58x	16.7x
EV/FCF	9.68x	18.31x	13.51x	18.94x
FCF Yield	11.58%	5.78%	7.95%	5.99%