Company Valuation: OPAP

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 7,068 9,168 - -
Change - 29.7% - -
Enterprise Value (EV) 1 7,068 16,142 16,075 16,013
Change - 128.37% -0.41% -0.39%
P/E - 20x 15.5x 12.8x
PBR - -4.16x -3.87x -3.76x
PEG - - 0.5x 0.6x
Capitalization / Revenue 0.79x 0.88x 0.83x 0.79x
EV / Revenue 0.79x 1.55x 1.46x 1.38x
EV / EBITDA - 8.63x 8.03x 7.43x
EV / EBIT - 10.2x 9.53x 8.77x
EV / FCF - 23.3x 21.7x 17.2x
FCF Yield - 4.29% 4.61% 5.81%
Dividend per Share 2 - 1 1.017 1.059
Rate of return - 8.67% 8.81% 9.18%
EPS 2 - 0.5755 0.7427 0.899
Distribution rate - 174% 137% 118%
Net sales 1 8,991 10,437 11,046 11,611
EBITDA 1 - 1,870 2,002 2,154
EBIT 1 - 1,576 1,687 1,827
Net income 1 732 618.3 736.1 838.1
Net Debt 1 - 6,974 6,908 6,845
Reference price 2 19.10 11.54 11.54 11.54
Nbr of stocks (in thousands) 370,063 794,759 - -
Announcement Date 3/19/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.23x5.98x14.03x1.68% 24.85B
12.74x2.57x6.81x3.29% 23.47B
12.41x2.04x7.13x5.97% 16.91B
13.35x6.08x9.24x3.79% 15.23B
-72.87x1.3x8.86x-.--% 12.98B
12.52x2.12x7.84x8.88% 11.74B
175.46x1.46x13.84x-.--% 9.23B
16.87x2.28x7.66x1.32% 7.7B
Average 24.21x 2.98x 9.43x 3.12% 15.26B
Weighted average by Cap. 18.34x 3.35x 9.53x 3.21%

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