TV 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	1.16B EUR	835.57B EUR	897.24B EUR	905.34B EUR
Enterprise Value	57B EUR	893.73B EUR	960.82B EUR	969.17B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	15.84x	--	--	--
Price to Sales	0.02x	14.41x	15.36x	20.62x
Price to Book	0.21x	8.21x	9.46x	9.73x
EV/Revenue	0.98x	15.42x	16.45x	22.07x
EV/EBITDA	2.59x	37.88x	38.57x	55.72x
Price to FCF (P/FCF)	0.22x	148.73x	270.44x	624.61x
EV/FCF	10.67x	159.08x	289.6x	668.64x
FCF Yield	458.62%	0.67%	0.37%	0.16%