AMSC 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	1.48B EUR	2.01B EUR	1.61B EUR	1.37B EUR
Enterprise Value	1.36B EUR	1.87B EUR	1.48B EUR	1.24B EUR
Valuation Multiples
Trailing P/E	10.28x	14.72x	12.05x	10.6x
Forward P/E	22.52x	--	--	--
Price to Sales	4.61x	6.27x	5.39x	6.44x
Price to Book	2.58x	3.51x	2.9x	2.55x
EV/Revenue	4.24x	5.83x	4.93x	5.83x
EV/EBITDA	58.51x	106.18x	52.25x	73.07x
Price to FCF (P/FCF)	9,815.46x	97.98x	88.3x	127.33x
EV/FCF	9,025.56x	91.17x	80.81x	115.28x
FCF Yield	0.01%	1.02%	1.13%	0.79%