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 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.45x6.06x14.22x1.66% 26.19B
14x2.34x8.16x5.27% 18.81B
-126.79x1.54x10.45x-.--% 17.37B
14.34x6.58x10x3.5% 17.07B
15.37x2.46x9.11x7.16% 14.64B
228.47x1.86x17.09x-.--% 11.92B
30.66x3.57x16.96x3.45% 8.03B
16.39x2.43x8.92x2.22% 7.11B
Average 26.99x 3.36x 11.86x 2.91% 15.14B
Weighted average by Cap. 18.41x 3.68x 11.68x 2.9%

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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