BFH 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	3.86B EUR	4.19B EUR	3.09B EUR	3.26B EUR
Enterprise Value	3.47B EUR	3.81B EUR	3.4B EUR	4.05B EUR
Valuation Multiples
Trailing P/E	7.8x	7.37x	5.5x	8.57x
Forward P/E	7.33x	--	--	--
Price to Sales	1.45x	1.06x	0.79x	1.14x
Price to Book	1.16x	1.25x	0.93x	0.98x
EV/Revenue	1.3x	0.96x	0.87x	1.41x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	1.91x	1.41x	1.92x
EV/FCF	--	1.74x	1.55x	2.39x
FCF Yield	--	52.3%	70.68%	52.04%