OR-R.BK 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	144B EUR	143.57B EUR	143.57B EUR	165.8B EUR
Enterprise Value	154.89B EUR	154.39B EUR	118.17B EUR	156.13B EUR
Valuation Multiples
Trailing P/E	27.27x	26.92x	15.37x	23.95x
Forward P/E	--	--	--	--
Price to Sales	0.21x	0.21x	0.22x	0.35x
Price to Book	1.31x	1.3x	1.23x	1.46x
EV/Revenue	0.22x	0.22x	0.18x	0.33x
EV/EBITDA	16.29x	8.91x	5.36x	10.7x
Price to FCF (P/FCF)	--	--	5.84x	37.53x
EV/FCF	--	--	4.8x	35.34x
FCF Yield	-17.12%	-14.75%	17.14%	2.66%