BTS-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	30.42B EUR	33.15B EUR	33.15B EUR	46.35B EUR
Enterprise Value	214.23B EUR	197.6B EUR	204.55B EUR	199.33B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	--	--	--	--
Price to Sales	1.26x	1.54x	1.57x	2.91x
Price to Book	0.52x	0.57x	0.57x	0.81x
EV/Revenue	8.91x	9.16x	9.68x	12.51x
EV/EBITDA	53.22x	19.71x	19.63x	26.8x
Price to FCF (P/FCF)	--	0.86x	0.95x	1.45x
EV/FCF	--	5.11x	5.87x	6.22x
FCF Yield	-31.73%	116.53%	105.17%	69.19%