BRES.QA 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	8.02B EUR	9.18B EUR	9.03B EUR	10.18B EUR
Enterprise Value	20.77B EUR	21.19B EUR	20.9B EUR	21.7B EUR
Valuation Multiples
Trailing P/E	7.1x	10.04x	8.89x	10.03x
Forward P/E	0.8x	--	--	--
Price to Sales	4.04x	5.98x	5.97x	7.27x
Price to Book	0.35x	0.41x	0.4x	0.45x
EV/Revenue	10.47x	13.81x	13.83x	15.51x
EV/EBITDA	18.31x	11.72x	11.01x	14.54x
Price to FCF (P/FCF)	--	17.28x	14.07x	21.16x
EV/FCF	--	39.88x	32.58x	45.1x
FCF Yield	--	5.79%	7.11%	4.73%