ALL-PI 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	--	4.73B EUR	4.78B EUR	5.04B EUR
Enterprise Value	7.95B EUR	11.38B EUR	11.58B EUR	11.85B EUR
Valuation Multiples
Trailing P/E	1.38x	0.36x	0.39x	0.52x
Forward P/E	--	--	--	--
Price to Sales	--	0.07x	0.07x	0.1x
Price to Book	0.13x	0.14x	0.15x	0.16x
EV/Revenue	0.11x	0.16x	0.17x	0.23x
EV/EBITDA	0.46x	--	--	--
Price to FCF (P/FCF)	--	0.39x	0.41x	0.63x
EV/FCF	0.52x	0.93x	1x	1.48x
FCF Yield	--	258.85%	241.01%	158.88%