MRE.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	687.15M EUR	699.75M EUR	662.15M EUR	746.01M EUR
Enterprise Value	1.73B EUR	1.74B EUR	1.72B EUR	1.69B EUR
Valuation Multiples
Trailing P/E	5.74x	5.72x	5.64x	8.33x
Forward P/E	3.97x	--	--	--
Price to Sales	0.15x	0.15x	0.14x	0.2x
Price to Book	0.43x	0.43x	0.43x	0.49x
EV/Revenue	0.37x	0.37x	0.36x	0.46x
EV/EBITDA	3.71x	3.12x	2.99x	3.85x
Price to FCF (P/FCF)	4.87x	4.49x	3.85x	3.41x
EV/FCF	12.23x	11.15x	10.03x	7.72x
FCF Yield	20.54%	22.29%	25.96%	29.36%