AIT 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	12.32B EUR	12.44B EUR	9.83B EUR	9.6B EUR
Enterprise Value	12.54B EUR	12.58B EUR	10.03B EUR	9.77B EUR
Valuation Multiples
Trailing P/E	30.63x	30.02x	24.35x	31.58x
Forward P/E	25.36x	--	--	--
Price to Sales	2.48x	2.51x	2.03x	2.68x
Price to Book	6.81x	6.68x	5.29x	5.12x
EV/Revenue	2.53x	2.53x	2.07x	2.72x
EV/EBITDA	20.39x	20.13x	16.42x	21.42x
Price to FCF (P/FCF)	33.95x	27.02x	22.4x	27.94x
EV/FCF	34.57x	27.32x	22.84x	28.42x
FCF Yield	2.95%	3.7%	4.46%	3.58%