BNED Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q3 '26 31.07.2026	Q2 '26 30.04.2026	Q1 '26 31.01.2026	Q4 '25 31.10.2025
Market & Enterprise Value
Market Cap	433.66M EUR	431.23M EUR	339.48M EUR	306.94M EUR	310.91M EUR
Enterprise Value	679.3M EUR	696.64M EUR	554.56M EUR	612.81M EUR	611.14M EUR
Valuation Multiples
Trailing P/E	19.55x	19.4x	20.12x	22.93x	46.18x
Forward P/E	12.39x	--	--	--	--
Price to Sales	0.25x	0.25x	0.2x	0.21x	0.33x
Price to Book	1.56x	1.55x	1.15x	1.06x	1.1x
EV/Revenue	0.4x	0.41x	0.32x	0.42x	0.66x
EV/EBITDA	9.16x	8.88x	7.22x	10.09x	15.98x
Price to FCF (P/FCF)	8.19x	8.84x	10.03x	--	--
EV/FCF	12.83x	14.27x	16.38x	--	--
FCF Yield	12.2%	11.32%	9.97%	-13.86%	-3.03%