TSEM 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	25.85B EUR	29.46B EUR	19.8B EUR	13.21B EUR
Enterprise Value	24.5B EUR	29.37B EUR	19.71B EUR	13.14B EUR
Valuation Multiples
Trailing P/E	90.4x	101.74x	80.69x	73.28x
Forward P/E	34.08x	--	--	--
Price to Sales	15.12x	17.23x	12.21x	10.94x
Price to Book	8.38x	9.55x	6.62x	4.53x
EV/Revenue	14.33x	17.18x	12.16x	10.88x
EV/EBITDA	41.04x	45.93x	33.98x	30.37x
Price to FCF (P/FCF)	154.97x	98x	61.46x	--
EV/FCF	146.88x	97.7x	61.19x	--
FCF Yield	0.65%	1.02%	1.63%	-0.24%