AGO 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	3.08B EUR	3.53B EUR	3.63B EUR	4.06B EUR
Enterprise Value	3.59B EUR	4.93B EUR	5.03B EUR	5.38B EUR
Valuation Multiples
Trailing P/E	9.32x	10.06x	8.75x	12.42x
Forward P/E	9.95x	--	--	--
Price to Sales	3.79x	4.05x	3.84x	5.89x
Price to Book	0.55x	0.64x	0.66x	0.72x
EV/Revenue	4.42x	5.66x	5.31x	7.79x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	210.59x	10.9x	10.04x	23.61x
EV/FCF	245.78x	15.21x	13.88x	31.26x
FCF Yield	0.47%	9.17%	9.96%	4.24%