BDN 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	462.97M EUR	554.43M EUR	470.76M EUR	507.2M EUR
Enterprise Value	3.08B EUR	554.43M EUR	3.08B EUR	3.06B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	-4x	--	--	--
Price to Sales	1.02x	1.5x	0.96x	1.05x
Price to Book	0.68x	--	0.64x	0.64x
EV/Revenue	6.81x	1.5x	6.29x	6.31x
EV/EBITDA	15.67x	3.48x	14.57x	14.97x
Price to FCF (P/FCF)	--	283.6x	65.3x	153.46x
EV/FCF	--	283.6x	427.32x	924.51x
FCF Yield	-5.4%	0.35%	1.53%	0.65%