NBK.KW 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	7.53B EUR	7.4T EUR	8.02T EUR	8.87T EUR
Enterprise Value	10.62B EUR	7.4T EUR	8.01T EUR	8.87T EUR
Valuation Multiples
Trailing P/E	13.67x	17,084.84x	18,867.3x	20,951.15x
Forward P/E	13.67x	--	--	--
Price to Sales	6.03x	7,426.9x	8,129.85x	9,185.02x
Price to Book	1,659.92x	1,483.08x	1,696.69x	1,766x
EV/Revenue	8.51x	7,424.15x	8,127.35x	9,181.65x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	--	24,495.74x	29,469.65x
EV/FCF	--	--	24,488.21x	29,458.83x
FCF Yield	--	-0.01%	0%	0%