BBVA.MC 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	127.1B EUR	121.25B EUR	102.82B EUR	114.11B EUR
Enterprise Value	153.72B EUR	118.89B EUR	110.27B EUR	133.53B EUR
Valuation Multiples
Trailing P/E	12.36x	10.91x	9.52x	14.61x
Forward P/E	9.79x	--	--	--
Price to Sales	3.72x	2.98x	2.64x	4.03x
Price to Book	2.26x	2.06x	1.83x	1.99x
EV/Revenue	4.5x	2.92x	2.83x	4.72x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	6.05x	5.13x	5.73x
EV/FCF	--	5.93x	5.5x	6.71x
FCF Yield	--	16.54%	19.51%	17.44%