TFII.TO 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	13.38B EUR	16.78B EUR	12.44B EUR	11.65B EUR
Enterprise Value	16.32B EUR	19.62B EUR	15.44B EUR	14.67B EUR
Valuation Multiples
Trailing P/E	29.02x	49.97x	41.78x	45.79x
Forward P/E	14.52x	--	--	--
Price to Sales	1.65x	2.07x	1.58x	1.97x
Price to Book	3.55x	6.13x	4.68x	4.35x
EV/Revenue	2.01x	2.42x	1.96x	2.48x
EV/EBITDA	16.42x	16.74x	13.62x	16.31x
Price to FCF (P/FCF)	21.39x	25.63x	19.56x	21.5x
EV/FCF	26.09x	29.98x	24.27x	27.06x
FCF Yield	4.68%	3.9%	5.11%	4.65%