BTE.TO 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	4.8B EUR	4.03B EUR	4.54B EUR	3.4B EUR
Enterprise Value	4.16B EUR	3.46B EUR	3.93B EUR	2.56B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	17.39x	--	--	--
Price to Sales	2.87x	4.52x	6.85x	16.19x
Price to Book	2.26x	1.87x	2.13x	1.42x
EV/Revenue	2.49x	3.88x	5.93x	12.21x
EV/EBITDA	5.73x	3.42x	3.76x	2.94x
Price to FCF (P/FCF)	--	15.31x	29.93x	18.57x
EV/FCF	--	13.14x	25.9x	14.01x
FCF Yield	-4.7%	6.53%	3.34%	5.39%