MTB 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	31.52B EUR	34.49B EUR	30.37B EUR	30.59B EUR
Enterprise Value	34.86B EUR	35.17B EUR	33B EUR	24.83B EUR
Valuation Multiples
Trailing P/E	11.5x	11.37x	10.36x	13.49x
Forward P/E	10.33x	--	--	--
Price to Sales	3.34x	3.51x	3.12x	4.18x
Price to Book	1.24x	1.23x	1.09x	1.05x
EV/Revenue	3.69x	3.58x	3.39x	3.39x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	9.6x	9.59x	13.6x
EV/FCF	--	9.78x	10.42x	11.04x
FCF Yield	--	10.42%	10.42%	7.36%