AMS.MC 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	21.97B EUR	21.45B EUR	20.56B EUR	27.08B EUR
Enterprise Value	24.61B EUR	24.08B EUR	23.24B EUR	29.33B EUR
Valuation Multiples
Trailing P/E	17.26x	16.39x	15.37x	27.62x
Forward P/E	13.51x	--	--	--
Price to Sales	3.33x	3.25x	3.13x	5.54x
Price to Book	4.8x	4.69x	4.28x	5.58x
EV/Revenue	3.73x	3.65x	3.54x	6x
EV/EBITDA	9.92x	9.46x	9.09x	15.45x
Price to FCF (P/FCF)	7.54x	14.83x	14.49x	24.42x
EV/FCF	8.45x	16.65x	16.37x	26.44x
FCF Yield	13.26%	6.74%	6.9%	4.1%