ECOPETROL.CL 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	111.02T EUR	100.12T EUR	115.13T EUR	76.89T EUR
Enterprise Value	230.43T EUR	197.3T EUR	115.13T EUR	177.42T EUR
Valuation Multiples
Trailing P/E	7.71x	6.9x	11.24x	10.45x
Forward P/E	--	--	--	--
Price to Sales	0.87x	0.79x	0.98x	0.87x
Price to Book	1.31x	1.18x	--	0.94x
EV/Revenue	1.81x	1.55x	0.98x	2.01x
EV/EBITDA	4.68x	4.43x	2.77x	5.21x
Price to FCF (P/FCF)	9.14x	18.76x	11.12x	7.43x
EV/FCF	18.97x	36.97x	11.12x	17.14x
FCF Yield	10.94%	5.33%	8.99%	13.46%