ARQT 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	3.34B EUR	3.29B EUR	2.95B EUR	3.58B EUR
Enterprise Value	2.95B EUR	3.37B EUR	3.03B EUR	3.65B EUR
Valuation Multiples
Trailing P/E	120.82x	115.47x	--	401.57x
Forward P/E	19.54x	--	--	--
Price to Sales	7.2x	7.1x	7.09x	11.55x
Price to Book	15.14x	14.93x	15.53x	18.9x
EV/Revenue	6.37x	7.27x	7.28x	11.77x
EV/EBITDA	80.92x	74.31x	211.19x	177.33x
Price to FCF (P/FCF)	154.06x	84.11x	174.15x	244.03x
EV/FCF	136.21x	86.15x	178.88x	248.89x
FCF Yield	0.65%	1.19%	0.57%	0.41%