ALL-PJ 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	--	6.61B EUR	6.56B EUR	6.84B EUR
Enterprise Value	10.18B EUR	13.26B EUR	13.35B EUR	13.66B EUR
Valuation Multiples
Trailing P/E	--	0.5x	0.54x	0.71x
Forward P/E	--	--	--	--
Price to Sales	--	0.1x	0.1x	0.13x
Price to Book	0.2x	0.2x	0.21x	0.22x
EV/Revenue	0.15x	0.19x	0.2x	0.27x
EV/EBITDA	0.6x	--	--	--
Price to FCF (P/FCF)	--	0.54x	0.57x	0.85x
EV/FCF	0.67x	1.08x	1.16x	1.7x
FCF Yield	--	185.34%	175.83%	117.03%