SANB11.SA 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	154.92B EUR	200.67B EUR	229.41B EUR	254.47B EUR
Enterprise Value	268.01B EUR	11.67B EUR	19.14B EUR	80.6B EUR
Valuation Multiples
Trailing P/E	14.09x	20.04x	25.36x	28.47x
Forward P/E	6.66x	--	--	--
Price to Sales	3.21x	5.37x	6.64x	7.37x
Price to Book	0.85x	1.58x	1.82x	2.03x
EV/Revenue	5.55x	0.31x	0.55x	2.33x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	5.96x	40.73x	--
EV/FCF	--	0.35x	3.4x	--
FCF Yield	--	16.79%	2.46%	-0.45%