TDS-PV 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	--	2.14B EUR	2.01B EUR	2.17B EUR
Enterprise Value	2.38B EUR	1.19B EUR	1.9B EUR	2.81B EUR
Valuation Multiples
Trailing P/E	19.98x	5.11x	15.38x	--
Forward P/E	--	--	--	--
Price to Sales	--	1.7x	1.61x	2.31x
Price to Book	0.5x	0.41x	0.41x	0.45x
EV/Revenue	1.89x	0.95x	1.52x	2.99x
EV/EBITDA	7.39x	1.69x	2.83x	5.69x
Price to FCF (P/FCF)	--	--	--	28.51x
EV/FCF	3.98x	--	--	36.9x
FCF Yield	--	-21.18%	-0.28%	3.51%