Company Valuation: OPAP

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 7,068 10,507 - -
Change - 48.65% - -
Enterprise Value (EV) 1 7,068 17,285 17,132 16,978
Change - 144.55% -0.89% -0.9%
P/E - 24.1x 16.5x 13.7x
PBR - -4.24x -6.66x -7.52x
PEG - - 0.4x 0.7x
Capitalization / Revenue 0.79x 1.01x 0.95x 0.9x
EV / Revenue 0.79x 1.66x 1.55x 1.46x
EV / EBITDA - 9x 8.25x 7.62x
EV / EBIT - 10.8x 9.03x 8.33x
EV / FCF - 24.6x 16.1x 14.4x
FCF Yield - 4.06% 6.21% 6.95%
Dividend per Share 2 - 1 1.014 1.058
Rate of return - 7.56% 7.67% 8%
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 13.22 13.22 13.22
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.($)
- 1.66x9x - 12.22B
23.13x5.98x14.03x1.69% 25.65B
13.27x2.2x7.66x5.56% 17.9B
-107.44x1.52x10.35x-.--% 17.12B
14.31x6.57x9.98x3.51% 17.04B
14.5x2.36x8.77x7.59% 13.81B
225.62x1.84x16.88x-.--% 11.77B
29.87x3.49x16.62x3.55% 7.77B
20.94x3.57x8.87x2.01% 7.5B
15.98x2.37x8.67x2.27% 6.93B
Average 27.80x 3.16x 11.08x 2.91% 13.77B
Weighted average by Cap. 20.64x 3.45x 11.11x 2.91%

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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