SPOT 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	108.8B EUR	94.39B EUR	99.71B EUR	119.53B EUR
Enterprise Value	101.7B EUR	88.92B EUR	94.93B EUR	116.23B EUR
Valuation Multiples
Trailing P/E	30.41x	28.27x	36.82x	60.16x
Forward P/E	30.7x	--	--	--
Price to Sales	6.01x	5.21x	5.69x	9.2x
Price to Book	11.57x	11.26x	12.45x	14.35x
EV/Revenue	5.62x	4.91x	5.42x	8.94x
EV/EBITDA	37.91x	29.59x	34.39x	59.42x
Price to FCF (P/FCF)	70.59x	28.89x	31.45x	51.1x
EV/FCF	65.98x	27.22x	29.95x	49.69x
FCF Yield	1.42%	3.46%	3.18%	1.96%