BA 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	150.35B EUR	171.14B EUR	156.82B EUR	170.37B EUR
Enterprise Value	177.48B EUR	171.14B EUR	194.59B EUR	213.89B EUR
Valuation Multiples
Trailing P/E	67.99x	59.44x	69.14x	76.23x
Forward P/E	47.73x	--	--	--
Price to Sales	1.6x	2.46x	1.7x	1.9x
Price to Book	24.67x	--	26.19x	31.24x
EV/Revenue	1.89x	2.46x	2.11x	2.39x
EV/EBITDA	-61.2x	--	--	--
Price to FCF (P/FCF)	26.73x	--	--	--
EV/FCF	31.55x	--	--	--
FCF Yield	3.74%	-0.5%	-0.67%	-1.11%