BIPC 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	4.6B EUR	4.74B EUR	4.86B EUR	5.45B EUR
Enterprise Value	20.08B EUR	16.93B EUR	17.71B EUR	18.29B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	18.31x	--	--	--
Price to Sales	1.24x	1.28x	1.34x	1.99x
Price to Book	--	--	--	--
EV/Revenue	5.43x	4.58x	4.89x	6.68x
EV/EBITDA	7.01x	6.44x	8.41x	12.02x
Price to FCF (P/FCF)	--	4.76x	4.27x	4.71x
EV/FCF	--	17.02x	15.57x	15.82x
FCF Yield	-11.34%	21.01%	23.41%	21.22%