Company Valuation: OPAP

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 7,068 9,068 - -
Change - 28.3% - -
Enterprise Value (EV) 1 7,068 15,896 15,715 15,587
Change - 124.9% -1.14% -0.81%
P/E - 22.1x 14.5x 12.1x
PBR - -3.99x -5.62x -6.25x
PEG - - 0.3x 0.6x
Capitalization / Revenue 0.79x 0.87x 0.82x 0.78x
EV / Revenue 0.79x 1.52x 1.42x 1.34x
EV / EBITDA - 8.34x 7.62x 7.04x
EV / EBIT - 9.96x 8.35x 7.71x
EV / FCF - 21.3x 15.2x 13.3x
FCF Yield - 4.7% 6.6% 7.51%
Dividend per Share 2 - 1 1.014 1.058
Rate of return - 8.76% 8.89% 9.27%
EPS 2 - 0.5153 0.7872 0.9418
Distribution rate - 194% 129% 112%
Net sales 1 8,991 10,437 11,046 11,611
EBITDA 1 - 1,907 2,064 2,213
EBIT 1 - 1,596 1,881 2,022
Net income 1 732 599 736.9 841.3
Net Debt 1 - 6,828 6,646 6,519
Reference price 2 19.10 11.41 11.41 11.41
Nbr of stocks (in thousands) 370,063 794,759 - -
Announcement Date 19/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 1.52x8.34x - 10.28B
22.86x5.89x13.81x1.71% 24.56B
12.89x2.14x7.48x5.75% 17.56B
13.07x5.94x9.03x3.87% 15.01B
-72.52x1.29x8.83x-.--% 12.92B
12.97x2.17x8.04x8.57% 12.16B
186.73x1.53x14.35x-.--% 9.73B
29.49x3.47x16.52x3.58% 7.42B
19.58x3.39x8.44x2.15% 6.83B
-31.54x1.38x4.44x-.--% 6.03B
Average 21.50x 2.87x 9.93x 2.85% 12.25B
Weighted average by Cap. 19.45x 3.28x 10.21x 3.09%

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