BKU 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	3.01B EUR	3.5B EUR	3.31B EUR	3.3B EUR
Enterprise Value	4.9B EUR	5.08B EUR	5B EUR	4.96B EUR
Valuation Multiples
Trailing P/E	11.62x	12.8x	12.19x	15.74x
Forward P/E	9.52x	--	--	--
Price to Sales	2.88x	3.12x	2.98x	3.94x
Price to Book	1.02x	1.17x	1.1x	1.08x
EV/Revenue	4.69x	4.53x	4.5x	5.92x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	9.42x	9.19x	9.66x
EV/FCF	--	13.68x	13.87x	14.5x
FCF Yield	--	10.61%	10.88%	10.36%