TOP-R.BK 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	168.1B EUR	105.39B EUR	105.39B EUR	77.07B EUR
Enterprise Value	260.92B EUR	176.96B EUR	150.47B EUR	148.19B EUR
Valuation Multiples
Trailing P/E	5.19x	3.26x	3.45x	6.96x
Forward P/E	--	--	--	--
Price to Sales	0.44x	0.24x	0.26x	0.27x
Price to Book	0.83x	0.47x	0.49x	0.45x
EV/Revenue	0.68x	0.41x	0.37x	0.51x
EV/EBITDA	4.82x	3.06x	2.98x	7.82x
Price to FCF (P/FCF)	--	56.02x	2.26x	1.81x
EV/FCF	--	94.06x	3.23x	3.47x
FCF Yield	-0.72%	1.79%	44.23%	55.39%