AP 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	191.09M EUR	178.31M EUR	135.99M EUR	108.34M EUR
Enterprise Value	337.09M EUR	313.33M EUR	265.5M EUR	235.94M EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	40.22x	--	--	--
Price to Sales	0.45x	0.42x	0.31x	0.33x
Price to Book	6.13x	5.73x	4.34x	3.32x
EV/Revenue	0.79x	0.73x	0.61x	0.72x
EV/EBITDA	10.56x	10.21x	8.93x	10.93x
Price to FCF (P/FCF)	26.53x	--	--	--
EV/FCF	46.8x	--	--	--
FCF Yield	3.77%	-2.24%	-1.71%	-0.54%