BCAL 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	682.56M EUR	669.17M EUR	569.74M EUR	605.25M EUR
Enterprise Value	481.52M EUR	666.96M EUR	566.75M EUR	606M EUR
Valuation Multiples
Trailing P/E	11.48x	11.12x	9.5x	13.1x
Forward P/E	11.44x	--	--	--
Price to Sales	3.7x	3.71x	3.17x	4.47x
Price to Book	1.16x	1.14x	0.99x	1.05x
EV/Revenue	2.61x	3.7x	3.16x	4.48x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	11.29x	9.76x	12.09x
EV/FCF	--	11.25x	9.71x	12.1x
FCF Yield	--	8.86%	10.24%	8.27%