TA.TO 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	5.94B EUR	6.21B EUR	5.44B EUR	5.15B EUR
Enterprise Value	10.75B EUR	10.14B EUR	9.63B EUR	9.29B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	31.74x	--	--	--
Price to Sales	2.62x	2.74x	2.46x	3.13x
Price to Book	7.07x	3.48x	3.87x	3.68x
EV/Revenue	4.74x	4.48x	4.36x	5.64x
EV/EBITDA	12.66x	14.07x	15.61x	21.7x
Price to FCF (P/FCF)	20.42x	13.98x	10.66x	12.35x
EV/FCF	36.95x	22.84x	18.85x	22.28x
FCF Yield	4.9%	7.15%	9.38%	8.1%