BANR 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	2.26B EUR	2.26B EUR	2.06B EUR	2.14B EUR
Enterprise Value	2.39B EUR	2.25B EUR	1.73B EUR	1.98B EUR
Valuation Multiples
Trailing P/E	10.96x	10.84x	10.03x	14.22x
Forward P/E	9.85x	--	--	--
Price to Sales	3.36x	3.35x	3.1x	4.31x
Price to Book	1.13x	1.13x	1.05x	1.1x
EV/Revenue	3.56x	3.35x	2.61x	3.99x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	7.92x	6.81x	11.11x
EV/FCF	--	7.91x	5.73x	10.29x
FCF Yield	--	12.63%	14.68%	9%