TOASO.IS 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	132.5B EUR	154B EUR	136.88B EUR	123.5B EUR
Enterprise Value	191.63B EUR	213.67B EUR	185.59B EUR	157.47B EUR
Valuation Multiples
Trailing P/E	10.26x	12.11x	11.47x	13.81x
Forward P/E	8.36x	--	--	--
Price to Sales	0.32x	0.36x	0.33x	0.39x
Price to Book	2.02x	2.34x	2.32x	2.06x
EV/Revenue	0.46x	0.5x	0.44x	0.49x
EV/EBITDA	22.06x	10.73x	9.21x	10.28x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-31.88%	-19.31%	-10.54%	-9.17%