WTS 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	11.77B EUR	13.07B EUR	9.69B EUR	9.2B EUR
Enterprise Value	11.45B EUR	12.83B EUR	9.52B EUR	9B EUR
Valuation Multiples
Trailing P/E	30.81x	34.05x	26.46x	34.5x
Forward P/E	25.13x	--	--	--
Price to Sales	4.4x	4.88x	3.79x	4.89x
Price to Book	5.38x	5.97x	4.62x	4.54x
EV/Revenue	4.28x	4.79x	3.72x	4.78x
EV/EBITDA	19.71x	21.71x	16.75x	21.52x
Price to FCF (P/FCF)	51.47x	37.4x	30.55x	29.62x
EV/FCF	50.06x	36.71x	29.99x	28.95x
FCF Yield	1.94%	2.67%	3.27%	3.38%