ADAML Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	--	2.19B EUR	2.11B EUR	2.02B EUR
Enterprise Value	13.8B EUR	6.23B EUR	6.04B EUR	6.07B EUR
Valuation Multiples
Trailing P/E	--	10.81x	13.57x	18.91x
Forward P/E	--	--	--	--
Price to Sales	--	4.76x	5.2x	7.68x
Price to Book	2.35x	1.48x	1.45x	1.42x
EV/Revenue	36.16x	13.57x	14.86x	23.06x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	13.82x	23.06x	18.67x
EV/FCF	--	39.37x	65.96x	56.05x
FCF Yield	--	7.24%	4.34%	5.35%