AMH-PH 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	--	8.37B EUR	8.6B EUR	8.91B EUR
Enterprise Value	13.69B EUR	13.43B EUR	13.69B EUR	13.92B EUR
Valuation Multiples
Trailing P/E	45.28x	17.48x	18.28x	26.25x
Forward P/E	--	--	--	--
Price to Sales	--	4.46x	4.62x	6.41x
Price to Book	1.15x	1.23x	1.24x	1.27x
EV/Revenue	7.3x	7.16x	7.35x	10.01x
EV/EBITDA	14.08x	13.45x	13.78x	18.71x
Price to FCF (P/FCF)	--	11.03x	11.73x	16.1x
EV/FCF	16.65x	17.7x	18.66x	25.14x
FCF Yield	--	9.07%	8.53%	6.21%