BQE Water Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 25, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	96	76	37	37	33	23
Market Cap Growth	40.11%	107.43%	-0.15%	11.96%	41.54%	124.93%
Enterprise Value	81	67	32	31	29	22
Last Close Price	73.95	59.30	29.51	29.50	26.50	19.10
PE Ratio	12.62	15.89	13.87	31.72	12.52	19.92
PS Ratio	2.90	4.44	2.03	3.03	4.38	3.02
PB Ratio	3.54	3.72	2.49	2.92	2.91	2.88
P/TBV Ratio	3.55	3.75	2.53	2.99	3.02	2.88
P/FCF Ratio	27.87	32.12	53.33	-	-	185.71
P/OCF Ratio	25.50	25.80	42.28	-	-	159.87
EV/Sales Ratio	2.46	3.92	1.76	2.55	3.90	2.86
EV/EBITDA Ratio	12.84	82.93	13.10	40208.67	-	122.73
EV/EBIT Ratio	13.51	105.85	13.81	-	-	158.94
EV/FCF Ratio	23.62	28.32	46.23	-	-	175.56
Debt / Equity Ratio	0.09	0.10	0.13	0.04	0.05	0.09
Debt / EBITDA Ratio	0.38	1.81	0.70	3.70	8.82	2.42
Debt / FCF Ratio	0.68	0.82	2.78	-	-	5.52
Net Debt / Equity Ratio	-0.54	-0.48	-0.41	-0.45	-0.30	-0.31
Net Debt / EBITDA Ratio	-2.49	-12.11	-2.47	-7387.58	67.40	-14.23
Net Debt / FCF Ratio	-4.26	-4.14	-8.71	12.78	11.49	-20.35
Asset Turnover	1.13	0.75	1.04	0.82	0.62	0.82
Quick Ratio	5.31	3.44	5.64	3.38	3.48	3.17
Current Ratio	5.41	3.67	5.83	3.56	3.66	3.28
Return on Equity (ROE)	32.88%	27.22%	19.36%	9.70%	27.11%	16.11%
Return on Assets (ROA)	12.37%	1.73%	8.29%	-0.49%	-0.54%	0.92%
Return on Invested Capital (ROIC)	46.38%	6.53%	27.42%	-1.23%	-1.48%	2.46%
Return on Capital Employed (ROCE)	19.90%	2.80%	13.90%	-0.90%	-0.90%	1.60%
Earnings Yield	7.95%	6.30%	7.21%	3.15%	7.99%	5.02%
FCF Yield	3.59%	3.11%	1.88%	-1.21%	-0.90%	0.54%
Buyback Yield / Dilution	-1.82%	-0.59%	-0.86%	-1.33%	-1.18%	-1.62%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.