FBRT 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	514.05M EUR	614.05M EUR	655.55M EUR	817.99M EUR
Enterprise Value	4.99B EUR	5.16B EUR	5.12B EUR	4.9B EUR
Valuation Multiples
Trailing P/E	14.07x	9.82x	9.34x	14.05x
Forward P/E	5.51x	--	--	--
Price to Sales	1.76x	1.24x	1.32x	2.15x
Price to Book	0.42x	0.45x	0.47x	0.57x
EV/Revenue	17.05x	10.46x	10.31x	12.89x
EV/EBITDA	--	--	--	265.79x
Price to FCF (P/FCF)	--	3.89x	5.41x	4.67x
EV/FCF	--	32.74x	42.24x	27.95x
FCF Yield	--	25.68%	18.49%	21.44%