NAMS 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	2.58B EUR	3.99B EUR	3.73B EUR	4.01B EUR
Enterprise Value	1.91B EUR	3.56B EUR	3.28B EUR	3.52B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	-14.11x	--	--	--
Price to Sales	362.17x	559.92x	165.46x	205.54x
Price to Book	4.02x	6.31x	5.61x	5.87x
EV/Revenue	267.88x	500.37x	145.19x	180.45x
EV/EBITDA	-7.81x	--	--	--
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-1.76%	-3.6%	-3.81%	-2.78%