AVAH 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	2.67B EUR	1.87B EUR	1.4B EUR	1.72B EUR
Enterprise Value	4.07B EUR	3.28B EUR	2.71B EUR	3.05B EUR
Valuation Multiples
Trailing P/E	9.72x	6.8x	5.36x	7.84x
Forward P/E	13.5x	--	--	--
Price to Sales	1.03x	0.72x	0.56x	0.92x
Price to Book	9.28x	6.49x	5.82x	8.83x
EV/Revenue	1.56x	1.26x	1.08x	1.62x
EV/EBITDA	13.07x	10.41x	8.7x	13.17x
Price to FCF (P/FCF)	25.76x	11.8x	10.84x	13.32x
EV/FCF	39.18x	20.69x	21.01x	23.53x
FCF Yield	3.88%	8.47%	9.22%	7.51%