B3SA3.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	116.19B EUR	72.63B EUR	92.2B EUR	69.93B EUR
Enterprise Value	113.64B EUR	86.92B EUR	106.85B EUR	83.71B EUR
Valuation Multiples
Trailing P/E	23.35x	13.63x	18.6x	20.1x
Forward P/E	17.92x	--	--	--
Price to Sales	10.78x	6.74x	8.74x	9.11x
Price to Book	6.24x	3.88x	5.05x	4.01x
EV/Revenue	10.54x	8.07x	10.13x	10.9x
EV/EBITDA	15.65x	10.57x	13.17x	13.81x
Price to FCF (P/FCF)	27.16x	12.8x	14.75x	14.74x
EV/FCF	26.57x	15.31x	17.1x	17.65x
FCF Yield	3.68%	7.81%	6.78%	6.78%