AP-UN.TO 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	1.25B EUR	1.81B EUR	1.8B EUR	1.87B EUR
Enterprise Value	5.2B EUR	5.83B EUR	5.93B EUR	6.48B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	3.31x	--	--	--
Price to Sales	2.15x	4.18x	4.11x	4.2x
Price to Book	0.33x	0.5x	0.41x	0.47x
EV/Revenue	8.95x	13.45x	13.54x	14.58x
EV/EBITDA	69.97x	32.74x	31.44x	31.49x
Price to FCF (P/FCF)	--	11.9x	11.83x	11.54x
EV/FCF	--	38.26x	39.01x	40x
FCF Yield	-31.25%	8.4%	8.46%	8.67%