BH-A 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	1.15B EUR	6.61B EUR	5.47B EUR	5.4B EUR
Enterprise Value	1.17B EUR	6.9B EUR	5.63B EUR	5.49B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	--	--	--	--
Price to Sales	2.82x	16.29x	13.75x	17.98x
Price to Book	2.08x	12.15x	10.54x	10.32x
EV/Revenue	2.88x	17x	14.15x	18.28x
EV/EBITDA	17.95x	612.06x	175.45x	171.5x
Price to FCF (P/FCF)	41.35x	131.3x	67.14x	79.27x
EV/FCF	42.12x	137.07x	69.08x	80.59x
FCF Yield	2.42%	0.76%	1.49%	1.26%