MBRF3.SA 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	26.08B EUR	24.93B EUR	30.32B EUR	28.15B EUR
Enterprise Value	79.45B EUR	93.75B EUR	99.73B EUR	99.27B EUR
Valuation Multiples
Trailing P/E	66.96x	68.33x	79.47x	104.13x
Forward P/E	11.57x	--	--	--
Price to Sales	0.16x	0.15x	0.18x	0.23x
Price to Book	2.28x	2.19x	2.65x	2.49x
EV/Revenue	0.48x	0.57x	0.61x	0.8x
EV/EBITDA	7.5x	6.5x	6.9x	8.88x
Price to FCF (P/FCF)	26.75x	5.18x	5.38x	5.26x
EV/FCF	81.52x	19.49x	17.71x	18.54x
FCF Yield	3.74%	19.29%	18.57%	19.03%