ALHC 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	1.57B EUR	4.93B EUR	3.64B EUR	4.03B EUR
Enterprise Value	1.44B EUR	4.57B EUR	3.27B EUR	3.79B EUR
Valuation Multiples
Trailing P/E	39.71x	121.2x	183.86x	480.58x
Forward P/E	10.27x	--	--	--
Price to Sales	0.34x	1.08x	0.86x	1.33x
Price to Book	5.89x	18.61x	17.6x	22.49x
EV/Revenue	0.31x	1x	0.77x	1.25x
EV/EBITDA	16.42x	52.81x	49.15x	87.88x
Price to FCF (P/FCF)	8.3x	27.79x	16.11x	38.48x
EV/FCF	7.61x	25.74x	14.44x	36.13x
FCF Yield	12.05%	3.6%	6.21%	2.6%