BSET Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 31.05.2026	Q1 '26 28.02.2026	Q4 '25 30.11.2025
Market & Enterprise Value
Market Cap	181.25M EUR	129.12M EUR	129.48M EUR	134.35M EUR
Enterprise Value	217.31M EUR	181.04M EUR	181.53M EUR	181.73M EUR
Valuation Multiples
Trailing P/E	26.86x	23.55x	24.15x	31.64x
Forward P/E	15.58x	--	--	--
Price to Sales	0.54x	0.39x	0.39x	0.53x
Price to Book	1.1x	0.79x	0.79x	0.81x
EV/Revenue	0.65x	0.54x	0.54x	0.72x
EV/EBITDA	12.32x	9.46x	9.87x	12.27x
Price to FCF (P/FCF)	19.44x	35.5x	36.44x	13.59x
EV/FCF	23.3x	49.78x	51.09x	18.39x
FCF Yield	5.15%	2.82%	2.74%	7.36%