CNR.TO 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	101.53B EUR	102.38B EUR	87B EUR	83.26B EUR
Enterprise Value	122.87B EUR	124.72B EUR	108.94B EUR	104.54B EUR
Valuation Multiples
Trailing P/E	21.57x	21.41x	18.49x	23.39x
Forward P/E	18.71x	--	--	--
Price to Sales	5.72x	5.76x	5.03x	6.45x
Price to Book	4.64x	4.67x	4.06x	3.86x
EV/Revenue	6.92x	7.02x	6.3x	8.1x
EV/EBITDA	13.43x	13.62x	12.08x	15.41x
Price to FCF (P/FCF)	33.55x	28.86x	24.36x	30.32x
EV/FCF	40.6x	35.15x	30.5x	38.07x
FCF Yield	2.98%	3.47%	4.11%	3.3%