AAF.L Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	10.52B EUR	1.26T EUR	1.3T EUR
Enterprise Value	16.61B EUR	1.26T EUR	1.3T EUR
Valuation Multiples
Trailing P/E	19.35x	2,504.22x	3,609.77x
Forward P/E	11.17x	--	--
Price to Sales	1.53x	259.31x	293.39x
Price to Book	433.91x	399.34x	452.64x
EV/Revenue	2.42x	260.5x	294.71x
EV/EBITDA	5.63x	404.9x	469.61x
Price to FCF (P/FCF)	7.92x	739.92x	831.24x
EV/FCF	12.51x	743.31x	834.99x
FCF Yield	12.62%	0.14%	0.12%