OTL.OL 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	2.4B EUR	2.16B EUR	2.91B EUR	2.23B EUR
Enterprise Value	3.88B EUR	3.64B EUR	4.38B EUR	3.21B EUR
Valuation Multiples
Trailing P/E	8.12x	7.18x	9.75x	8.95x
Forward P/E	5.39x	--	--	--
Price to Sales	0.43x	0.39x	0.52x	0.53x
Price to Book	1.88x	1.69x	2.51x	1.76x
EV/Revenue	0.69x	0.65x	0.79x	0.76x
EV/EBITDA	5.77x	7.28x	9.2x	8.48x
Price to FCF (P/FCF)	21.34x	9.52x	29.92x	13.4x
EV/FCF	34.5x	16.04x	45.1x	19.26x
FCF Yield	4.69%	10.51%	3.34%	7.46%