BEN Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	16.26B EUR	12.27B EUR	12.42B EUR
Enterprise Value	20.03B EUR	24.1B EUR	23.14B EUR
Valuation Multiples
Trailing P/E	21.77x	16.73x	20.14x
Forward P/E	10.11x	--	--
Price to Sales	1.74x	1.36x	1.4x
Price to Book	1.38x	1.01x	1.02x
EV/Revenue	2.15x	2.67x	2.62x
EV/EBITDA	11.13x	12.94x	13.09x
Price to FCF (P/FCF)	--	13.15x	14.22x
EV/FCF	--	25.82x	26.49x
FCF Yield	-18.4%	7.61%	7.03%