WHA-R.BK 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	73.84B EUR	62.6B EUR	62.6B EUR	52.07B EUR
Enterprise Value	126.81B EUR	111.83B EUR	108.79B EUR	98.32B EUR
Valuation Multiples
Trailing P/E	17.64x	14.74x	13.7x	17.02x
Forward P/E	--	--	--	--
Price to Sales	5.22x	4.85x	4.56x	4.93x
Price to Book	1.97x	1.67x	1.63x	1.41x
EV/Revenue	8.96x	8.67x	7.92x	9.31x
EV/EBITDA	22.49x	16.42x	15.26x	17.77x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-2.32%	-0.36%	-2.11%	-1.47%