ALX Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	1.23B EUR	1.21B EUR	1.11B EUR
Enterprise Value	1.79B EUR	2.08B EUR	1.93B EUR
Valuation Multiples
Trailing P/E	7.29x	58.63x	39.44x
Forward P/E	18.52x	--	--
Price to Sales	5.73x	5.7x	5.22x
Price to Book	5.5x	13.3x	10.2x
EV/Revenue	8.32x	9.81x	9.04x
EV/EBITDA	18.57x	18.82x	16.34x
Price to FCF (P/FCF)	26.94x	26.67x	15.16x
EV/FCF	39.1x	45.9x	26.25x
FCF Yield	3.71%	3.75%	6.6%