Tivoli Ratios and Metrics

Market cap in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 26, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	3,533	3,407	3,750	4,025	4,333	4,630
Market Cap Growth	4.75%	-9.15%	-6.82%	-7.12%	-6.42%	11.57%
Enterprise Value	3,785	3,736	4,048	4,321	4,681	5,152
Last Close Price	618.00	596.00	650.40	694.44	745.09	796.21
PE Ratio	29.01	28.04	30.34	46.63	66.56	-
PS Ratio	2.63	2.53	2.84	3.32	3.83	6.44
PB Ratio	2.85	2.75	3.27	3.84	4.38	5.28
P/TBV Ratio	3.05	2.95	3.44	4.02	4.58	5.53
P/FCF Ratio	91.53	88.27	72.96	58.24	41.99	61.82
P/OCF Ratio	14.60	14.09	17.46	21.07	23.20	28.18
EV/Sales Ratio	2.81	2.78	3.06	3.56	4.14	7.16
EV/EBITDA Ratio	13.47	13.29	15.53	22.07	24.94	-
EV/EBIT Ratio	23.20	22.88	26.63	37.80	46.35	-
EV/FCF Ratio	98.05	96.78	78.75	62.53	45.36	68.78
Debt / Equity Ratio	0.24	0.24	0.28	0.33	0.39	0.51
Debt / EBITDA Ratio	1.05	1.05	1.24	1.64	1.89	-
Debt / FCF Ratio	7.68	7.68	6.29	5.00	3.71	5.96
Net Debt / Equity Ratio	0.20	0.20	0.22	0.26	0.32	0.49
Net Debt / EBITDA Ratio	0.90	0.90	0.95	1.38	1.70	-19.00
Net Debt / FCF Ratio	6.52	6.52	4.84	3.90	3.09	5.78
Asset Turnover	0.74	0.74	0.76	0.72	0.70	0.43
Inventory Turnover	21.10	21.10	27.39	31.20	32.00	25.12
Quick Ratio	0.48	0.48	0.62	0.64	0.58	0.21
Current Ratio	0.60	0.60	0.73	0.69	0.63	0.25
Return on Equity (ROE)	10.18%	10.18%	11.26%	8.47%	6.98%	-4.66%
Return on Assets (ROA)	5.58%	5.58%	5.43%	4.23%	3.88%	-4.21%
Return on Invested Capital (ROIC)	8.56%	8.79%	8.91%	6.76%	5.74%	-8.17%
Return on Capital Employed (ROCE)	10.50%	10.50%	10.20%	8.10%	7.30%	-8.60%
Earnings Yield	3.44%	3.57%	3.30%	2.14%	1.50%	-0.90%
FCF Yield	1.09%	1.13%	1.37%	1.72%	2.38%	1.62%
Dividend Yield	0.89%	0.92%	0.83%	0.55%	0.38%	-
Payout Ratio	25.43%	25.43%	17.48%	18.89%	-	-
Buyback Yield / Dilution	0.32%	0.32%	-0.10%	-	-	-
Total Shareholder Return	1.20%	1.24%	0.73%	0.55%	0.38%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.