BGRIM-R.BK 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	50.31B EUR	29.13B EUR	29.13B EUR	40.5B EUR
Enterprise Value	176.42B EUR	140.92B EUR	138.14B EUR	138.1B EUR
Valuation Multiples
Trailing P/E	37.12x	12.08x	16.71x	39.65x
Forward P/E	--	--	--	--
Price to Sales	0.92x	0.53x	0.54x	0.97x
Price to Book	2.66x	0.84x	0.84x	1.21x
EV/Revenue	3.24x	2.59x	2.54x	3.31x
EV/EBITDA	13.8x	9.81x	9.48x	12.72x
Price to FCF (P/FCF)	18.13x	2.98x	2.52x	4.06x
EV/FCF	63.56x	14.4x	11.94x	13.85x
FCF Yield	5.52%	33.6%	39.73%	24.62%