Company Valuation: OPAP

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 7,068 10,411 - -
Change - 47.3% - -
Enterprise Value (EV) 1 7,068 17,190 17,037 16,883
Change - 143.2% -0.89% -0.9%
P/E - 23.9x 16.3x 13.6x
PBR - -4.21x -6.6x -7.45x
PEG - - 0.4x 0.7x
Capitalization / Revenue 0.79x 1x 0.94x 0.89x
EV / Revenue 0.79x 1.66x 1.54x 1.45x
EV / EBITDA - 8.95x 8.2x 7.58x
EV / EBIT - 10.7x 8.98x 8.28x
EV / FCF - 24.5x 16x 14.3x
FCF Yield - 4.08% 6.24% 6.99%
Dividend per Share 2 - 1 1.014 1.058
Rate of return - 7.63% 7.74% 8.07%
EPS 2 - 0.5489 0.8018 0.9616
Distribution rate - 182% 127% 110%
Net sales 1 8,991 10,384 11,052 11,656
EBITDA 1 - 1,920 2,078 2,228
EBIT 1 - 1,604 1,898 2,039
Net income 1 732 610 735.5 843.1
Net Debt 1 - 6,778 6,625 6,471
Reference price 2 19.10 13.10 13.10 13.10
Nbr of stocks (in thousands) 370,063 794,759 - -
Announcement Date 3/19/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.18x5.99x14.05x1.68% 25.7B
13.54x2.26x7.89x5.44% 18.29B
-109.49x1.54x10.47x-.--% 17.45B
14.48x6.65x10.1x3.47% 17.2B
14.47x2.36x8.73x7.6% 13.79B
235.42x1.91x17.58x-.--% 12.28B
29.5x3.46x16.46x3.59% 7.67B
20.81x3.55x8.83x2.02% 7.44B
Average 30.24x 3.47x 11.77x 2.98% 14.98B
Weighted average by Cap. 22.15x 3.72x 11.60x 2.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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