BSY 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	10.56B EUR	9.02B EUR	10.66B EUR	11.54B EUR
Enterprise Value	11.97B EUR	10.14B EUR	11.72B EUR	12.7B EUR
Valuation Multiples
Trailing P/E	38.43x	31.11x	37.83x	61.88x
Forward P/E	22.15x	--	--	--
Price to Sales	6.59x	5.63x	6.86x	10.2x
Price to Book	9.02x	7.5x	8.7x	9.7x
EV/Revenue	7.47x	6.33x	7.54x	11.23x
EV/EBITDA	25.59x	21.86x	26.39x	41.99x
Price to FCF (P/FCF)	26.54x	18.09x	21.69x	37.98x
EV/FCF	30.08x	20.34x	23.84x	41.8x
FCF Yield	3.77%	5.53%	4.61%	2.63%