CNOB 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	1.51B EUR	1.68B EUR	1.35B EUR	1.32B EUR
Enterprise Value	2.2B EUR	2.27B EUR	2.06B EUR	2.08B EUR
Valuation Multiples
Trailing P/E	9.69x	10.52x	13.73x	21.9x
Forward P/E	8.23x	--	--	--
Price to Sales	3.4x	3.65x	3.18x	4.28x
Price to Book	0.99x	1.03x	0.85x	0.84x
EV/Revenue	4.96x	4.93x	4.87x	6.74x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	13.18x	13.41x	15.26x
EV/FCF	--	17.78x	20.53x	24.02x
FCF Yield	--	7.59%	7.46%	6.55%