AMTM 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	4.72B EUR	5.05B EUR	6.37B EUR	7.07B EUR
Enterprise Value	8.1B EUR	8.42B EUR	9.86B EUR	10.76B EUR
Valuation Multiples
Trailing P/E	23.24x	24.76x	43.01x	75.21x
Forward P/E	7.31x	--	--	--
Price to Sales	0.33x	0.36x	0.45x	0.66x
Price to Book	1x	1.08x	1.38x	1.55x
EV/Revenue	0.57x	0.6x	0.69x	1x
EV/EBITDA	8.05x	8.13x	9.92x	14.48x
Price to FCF (P/FCF)	9.74x	10.65x	14.5x	32.28x
EV/FCF	16.72x	17.76x	22.47x	49.12x
FCF Yield	10.27%	9.39%	6.9%	3.1%