ANF Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q3 '26 31.07.2026	Q2 '26 30.04.2026	Q1 '26 31.01.2026	Q4 '25 31.10.2025
Market & Enterprise Value
Market Cap	6.05B EUR	4.22B EUR	3.79B EUR	4.34B EUR	3.33B EUR
Enterprise Value	6.67B EUR	4.88B EUR	4.49B EUR	4.75B EUR	3.85B EUR
Valuation Multiples
Trailing P/E	12.31x	7.88x	7.68x	10.17x	13.08x
Forward P/E	11.01x	--	--	--	--
Price to Sales	1.13x	0.79x	0.72x	1.04x	1.33x
Price to Book	4.47x	3.12x	2.83x	3.09x	2.53x
EV/Revenue	1.25x	0.91x	0.85x	1.14x	1.54x
EV/EBITDA	7.27x	5.28x	5.18x	6.5x	8.61x
Price to FCF (P/FCF)	13.88x	7.46x	9.11x	10.01x	18.22x
EV/FCF	15.29x	8.62x	10.79x	10.96x	21.1x
FCF Yield	7.2%	13.41%	10.97%	9.99%	5.49%