BJ Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q3 '26 31.07.2026	Q2 '26 30.04.2026	Q1 '26 31.01.2026	Q4 '25 31.10.2025
Market & Enterprise Value
Market Cap	12.45B EUR	12.36B EUR	11.99B EUR	11.98B EUR	11.55B EUR
Enterprise Value	15.25B EUR	15.11B EUR	14.82B EUR	14.66B EUR	14.2B EUR
Valuation Multiples
Trailing P/E	21.57x	20.8x	20.98x	27.96x	38.15x
Forward P/E	19.61x	--	--	--	--
Price to Sales	0.55x	0.54x	0.55x	0.74x	1.08x
Price to Book	5.67x	5.63x	5.64x	5.45x	5.32x
EV/Revenue	0.67x	0.66x	0.67x	0.9x	1.32x
EV/EBITDA	13.14x	12.59x	12.85x	17.14x	24.06x
Price to FCF (P/FCF)	50.48x	34.52x	54.9x	46.02x	163.68x
EV/FCF	61.84x	42.18x	67.88x	56.31x	201.26x
FCF Yield	1.98%	2.9%	1.82%	2.17%	0.61%