ATS.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	2.47B EUR	3.97B EUR	3.8B EUR	3.67B EUR
Enterprise Value	3.66B EUR	5.16B EUR	4.95B EUR	4.9B EUR
Valuation Multiples
Trailing P/E	52.48x	84.01x	53.09x	41.78x
Forward P/E	13.18x	--	--	--
Price to Sales	0.84x	1.35x	1.28x	1.65x
Price to Book	1.36x	2.2x	2.14x	2.06x
EV/Revenue	1.25x	1.76x	1.67x	2.2x
EV/EBITDA	12.09x	14.34x	12.81x	15.5x
Price to FCF (P/FCF)	12.7x	19.25x	10.24x	14.81x
EV/FCF	18.8x	25.03x	13.34x	19.8x
FCF Yield	7.87%	5.2%	9.77%	6.75%