CBSH 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	7.8B EUR	8.31B EUR	7.19B EUR	7.21B EUR
Enterprise Value	6.17B EUR	5.43B EUR	3.36B EUR	3.67B EUR
Valuation Multiples
Trailing P/E	13.4x	14.24x	12.48x	16.58x
Forward P/E	11.84x	--	--	--
Price to Sales	4.23x	4.37x	3.92x	5.35x
Price to Book	1.8x	1.91x	1.67x	1.9x
EV/Revenue	3.34x	2.86x	1.83x	2.73x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	6.85x	6.28x	15.46x
EV/FCF	--	4.48x	2.94x	7.88x
FCF Yield	--	14.6%	15.91%	6.47%