TEND3.SA 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	3.79B EUR	4.48B EUR	3.82B EUR	2.98B EUR
Enterprise Value	3.98B EUR	5.61B EUR	5.19B EUR	4.3B EUR
Valuation Multiples
Trailing P/E	6.55x	7.74x	6.34x	7.08x
Forward P/E	4.53x	--	--	--
Price to Sales	0.79x	0.96x	0.87x	0.93x
Price to Book	2.46x	2.91x	2.82x	2.48x
EV/Revenue	0.83x	1.2x	1.19x	1.35x
EV/EBITDA	5.04x	7.16x	8x	10.26x
Price to FCF (P/FCF)	6.87x	13.57x	10.3x	10.92x
EV/FCF	7.23x	17.01x	13.97x	15.77x
FCF Yield	14.55%	7.37%	9.71%	9.16%