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	2020 - 2016
Period Ending	Apr '26 Apr 29, 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	2020 - 2016
Market Capitalization	66	114	256	485	769	402	Upgrade
Market Cap Growth	-68.91%	-55.42%	-47.25%	-36.98%	91.34%	-38.18%	Upgrade
Enterprise Value	775	833	977	1,298	1,322	850	Upgrade
PE Ratio	-	-	-	-	26.06	-	Upgrade
PS Ratio	0.17	0.28	0.66	1.58	1.73	2.41	Upgrade
PB Ratio	0.30	0.52	1.00	1.61	2.33	1.70	Upgrade
P/FCF Ratio	1.20	2.06	8.14	-	-	-	Upgrade
P/OCF Ratio	0.76	1.31	4.18	15.47	57.75	14.09	Upgrade
EV/Sales Ratio	1.94	2.08	2.52	4.23	2.97	5.10	Upgrade
EV/EBITDA Ratio	34.25	38.87	39.14	485.03	12.59	23.19	Upgrade
EV/EBIT Ratio	-	-	-	-	19.33	-	Upgrade
EV/FCF Ratio	14.01	15.06	31.08	-	-	-	Upgrade
Debt / Equity Ratio	3.28	3.28	2.91	2.58	2.13	2.51	Upgrade
Debt / EBITDA Ratio	33.79	33.79	25.31	103.55	6.49	15.11	Upgrade
Debt / FCF Ratio	13.09	13.09	23.79	-	-	-	Upgrade
Net Debt / Equity Ratio	3.22	3.22	2.74	2.47	1.89	1.84	Upgrade
Net Debt / EBITDA Ratio	33.15	33.15	28.23	278.41	5.94	11.85	Upgrade
Net Debt / FCF Ratio	12.84	12.84	22.42	-10.67	-5.39	-39.46	Upgrade
Quick Ratio	0.66	0.66	0.72	0.80	0.93	1.23	Upgrade
Current Ratio	0.96	0.96	1.24	1.77	1.93	1.60	Upgrade
Asset Turnover	0.35	0.35	0.33	0.27	0.42	0.21	Upgrade
Return on Equity (ROE)	-31.04%	-31.04%	-20.37%	-22.50%	10.26%	-14.04%	Upgrade
Return on Assets (ROA)	-1.15%	-1.15%	-0.76%	-2.07%	4.06%	-0.53%	Upgrade
Return on Capital Employed (ROCE)	-2.30%	-2.30%	-1.50%	-3.60%	6.60%	-0.90%	Upgrade
Earnings Yield	-110.75%	-64.39%	-21.94%	-14.06%	3.84%	-7.31%	Upgrade
FCF Yield	83.46%	48.52%	12.28%	-14.40%	-15.04%	-2.73%	Upgrade
Buyback Yield / Dilution	-0.42%	-0.42%	-0.36%	-5.30%	-4.14%	-4.13%	Upgrade

Source: S&P Capital IQ. Utility template. Financial Sources.