NTR.TO 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	45.97B EUR	42.74B EUR	50.48B EUR	40.83B EUR
Enterprise Value	59.33B EUR	54.54B EUR	63.65B EUR	52.15B EUR
Valuation Multiples
Trailing P/E	14.1x	17.96x	21.15x	18.1x
Forward P/E	13.36x	--	--	--
Price to Sales	1.68x	1.52x	1.81x	1.87x
Price to Book	1.25x	1.65x	2.01x	1.61x
EV/Revenue	2.17x	1.93x	2.29x	2.39x
EV/EBITDA	10.5x	8.75x	10.25x	10.06x
Price to FCF (P/FCF)	28.69x	20.48x	22.86x	12.07x
EV/FCF	37.03x	26.13x	28.83x	15.41x
FCF Yield	3.49%	4.88%	4.37%	8.29%