REI-UN.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	5.98B EUR	6.59B EUR	5.52B EUR	5.49B EUR
Enterprise Value	12.86B EUR	13.52B EUR	12.74B EUR	12.53B EUR
Valuation Multiples
Trailing P/E	23.85x	26.14x	22.38x	35.79x
Forward P/E	12.66x	--	--	--
Price to Sales	4.65x	4.9x	3.93x	5.08x
Price to Book	0.83x	0.92x	0.78x	0.77x
EV/Revenue	9.99x	10.05x	9.08x	11.59x
EV/EBITDA	21.34x	19.72x	18x	23.61x
Price to FCF (P/FCF)	55.64x	30.06x	23.84x	30.65x
EV/FCF	119.59x	61.64x	55.02x	69.91x
FCF Yield	1.8%	3.33%	4.19%	3.26%