ADPT 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	4.23B EUR	3.41B EUR	2.22B EUR	2.5B EUR
Enterprise Value	4.24B EUR	3.65B EUR	2.22B EUR	2.51B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	-146.8x	--	--	--
Price to Sales	13.72x	11.07x	7.5x	11.12x
Price to Book	29.5x	23.87x	10.25x	11.41x
EV/Revenue	13.76x	11.86x	7.5x	11.16x
EV/EBITDA	-198.71x	--	--	--
Price to FCF (P/FCF)	222.78x	--	--	--
EV/FCF	223.32x	--	--	--
FCF Yield	0.45%	-0.7%	-1.33%	-0.77%