AEE 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	28.29B EUR	31.29B EUR	30.41B EUR	27.6B EUR
Enterprise Value	50.12B EUR	31.29B EUR	51.7B EUR	47.42B EUR
Valuation Multiples
Trailing P/E	17.99x	25.05x	19.95x	18.96x
Forward P/E	17.62x	--	--	--
Price to Sales	3.36x	4.7x	3.43x	3.14x
Price to Book	2.07x	--	2.24x	2.06x
EV/Revenue	5.96x	4.7x	5.82x	5.39x
EV/EBITDA	12.82x	9.82x	12.73x	12.02x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-6.31%	-3.64%	-4.42%	-2.97%