Photon Energy Ratios and Metrics

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

Millions PLN. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 27, 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	81	114	256	485	769	402
Market Cap Growth	-65.34%	-55.42%	-47.25%	-36.98%	91.34%	-38.18%
Enterprise Value	790	833	977	1,298	1,322	850
PE Ratio	-	-	-	-	26.06	-
PS Ratio	0.20	0.28	0.66	1.58	1.73	2.41
PB Ratio	0.37	0.52	1.00	1.61	2.33	1.70
P/FCF Ratio	1.46	2.06	8.14	-	-	-
P/OCF Ratio	0.93	1.31	4.18	15.47	57.75	14.09
EV/Sales Ratio	1.97	2.08	2.52	4.23	2.97	5.10
EV/EBITDA Ratio	34.89	38.87	39.14	485.03	12.59	23.19
EV/EBIT Ratio	-	-	-	-	19.33	-
EV/FCF Ratio	14.27	15.06	31.08	-	-	-
Debt / Equity Ratio	3.28	3.28	2.91	2.58	2.13	2.51
Debt / EBITDA Ratio	33.79	33.79	25.31	103.55	6.49	15.11
Debt / FCF Ratio	13.09	13.09	23.79	-	-	-
Net Debt / Equity Ratio	3.22	3.22	2.74	2.47	1.89	1.84
Net Debt / EBITDA Ratio	33.15	33.15	28.23	278.41	5.94	11.85
Net Debt / FCF Ratio	12.84	12.84	22.42	-10.67	-5.39	-39.46
Quick Ratio	0.66	0.66	0.72	0.80	0.93	1.23
Current Ratio	0.96	0.96	1.24	1.77	1.93	1.60
Asset Turnover	0.35	0.35	0.33	0.27	0.42	0.21
Return on Equity (ROE)	-31.04%	-31.04%	-20.37%	-22.50%	10.26%	-14.04%
Return on Assets (ROA)	-1.15%	-1.15%	-0.76%	-2.07%	4.06%	-0.53%
Return on Capital Employed (ROCE)	-2.30%	-2.30%	-1.50%	-3.60%	6.60%	-0.90%
Earnings Yield	-90.91%	-64.39%	-21.94%	-14.06%	3.84%	-7.31%
FCF Yield	68.51%	48.52%	12.28%	-14.40%	-15.04%	-2.73%
Buyback Yield / Dilution	-0.42%	-0.42%	-0.36%	-5.30%	-4.14%	-4.13%

Source: S&P Global Market Intelligence. Utility template. Financial Sources.