CBAV3.SA 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	7.32B EUR	7.01B EUR	6.84B EUR	4.67B EUR
Enterprise Value	10.41B EUR	9.97B EUR	10.03B EUR	7.9B EUR
Valuation Multiples
Trailing P/E	12.22x	11.73x	55.81x	--
Forward P/E	9.61x	--	--	--
Price to Sales	0.79x	0.75x	0.78x	0.72x
Price to Book	1.45x	1.38x	1.48x	1.09x
EV/Revenue	1.12x	1.07x	1.15x	1.22x
EV/EBITDA	6.98x	5.59x	8.23x	11.03x
Price to FCF (P/FCF)	12.23x	9.31x	45.47x	37.88x
EV/FCF	17.39x	13.24x	66.73x	64.03x
FCF Yield	8.18%	10.74%	2.2%	2.64%