ALFAS.IS 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	10.9B EUR	17.36B EUR	13.45B EUR	15.02B EUR
Enterprise Value	12.35B EUR	19.14B EUR	15.5B EUR	17.62B EUR
Valuation Multiples
Trailing P/E	35.26x	56.53x	171.47x	530.46x
Forward P/E	--	--	--	--
Price to Sales	1.59x	2.27x	1.71x	2.23x
Price to Book	1.65x	2.62x	2.29x	2.84x
EV/Revenue	1.8x	2.5x	1.98x	2.62x
EV/EBITDA	15.76x	22.96x	30.33x	129.53x
Price to FCF (P/FCF)	10.19x	7.23x	24.06x	34.74x
EV/FCF	11.54x	7.97x	27.73x	40.74x
FCF Yield	9.81%	13.84%	4.16%	2.88%