TFC 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	56.33B EUR	61.02B EUR	57.27B EUR	62.13B EUR
Enterprise Value	84.66B EUR	61.02B EUR	90.14B EUR	90.05B EUR
Valuation Multiples
Trailing P/E	10.6x	14.23x	10.36x	11.71x
Forward P/E	9.25x	--	--	--
Price to Sales	2.96x	3.92x	2.78x	3.06x
Price to Book	0.96x	--	0.89x	0.95x
EV/Revenue	4.45x	3.92x	4.38x	4.43x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	12.83x	10.1x	10.83x
EV/FCF	--	12.83x	15.89x	15.69x
FCF Yield	--	7.8%	9.9%	9.24%