BH.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	149.45B EUR	149.45B EUR	129.58B EUR	125.21B EUR
Enterprise Value	142.32B EUR	145.65B EUR	125.76B EUR	117.72B EUR
Valuation Multiples
Trailing P/E	21.51x	19.67x	17.12x	21.67x
Forward P/E	19.22x	--	--	--
Price to Sales	5.82x	5.86x	5.12x	6.56x
Price to Book	5.46x	5.46x	3.97x	4.06x
EV/Revenue	5.55x	5.71x	4.97x	6.17x
EV/EBITDA	13.95x	13.8x	11.98x	14.74x
Price to FCF (P/FCF)	58.85x	34.83x	27.04x	28.28x
EV/FCF	56.04x	33.94x	26.24x	26.59x
FCF Yield	1.7%	2.87%	3.7%	3.54%