BHARTIARTL.BO 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	11.27T EUR	11.55T EUR	10.87T EUR	12.2T EUR
Enterprise Value	13.09T EUR	13.48T EUR	12.69T EUR	12.2T EUR
Valuation Multiples
Trailing P/E	37.76x	52.23x	54.61x	51.71x
Forward P/E	21.98x	--	--	--
Price to Sales	5.12x	6.88x	6.84x	8.07x
Price to Book	6.96x	7.14x	7.29x	--
EV/Revenue	5.95x	8.03x	7.99x	8.07x
EV/EBITDA	11.41x	13.7x	13.72x	13.93x
Price to FCF (P/FCF)	17.87x	32.44x	30.58x	42.78x
EV/FCF	20.75x	37.84x	35.69x	42.78x
FCF Yield	5.59%	3.08%	3.27%	2.34%