Company Valuation: OPAP

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 7,068 8,806 - -
Change - 24.59% - -
Enterprise Value (EV) 1 7,068 15,766 15,692 15,622
Change - 123.06% -0.47% -0.45%
P/E - 18.8x 14.7x 12.2x
PBR - -3.99x -3.72x -3.61x
PEG - - 0.5x 0.6x
Capitalization / Revenue 0.79x 0.84x 0.8x 0.76x
EV / Revenue 0.79x 1.51x 1.42x 1.35x
EV / EBITDA - 8.43x 7.84x 7.25x
EV / EBIT - 10x 9.3x 8.55x
EV / FCF - 21.1x 19.7x 16.1x
FCF Yield - 4.74% 5.08% 6.2%
Dividend per Share 2 - 1 1.017 1.059
Rate of return - 9.03% 9.18% 9.56%
EPS 2 - 0.588 0.7552 0.9065
Distribution rate - 170% 135% 117%
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 1 732 631.3 746.1 843.3
Net Debt 1 - 6,961 6,886 6,816
Reference price 2 19.10 11.08 11.08 11.08
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.($)
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