APG 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	17.42B EUR	18.28B EUR	17.55B EUR	15.91B EUR
Enterprise Value	20.27B EUR	21.27B EUR	19.98B EUR	18.07B EUR
Valuation Multiples
Trailing P/E	--	52.84x	54.18x	59.6x
Forward P/E	20.23x	--	--	--
Price to Sales	2.07x	2.17x	2.15x	2.57x
Price to Book	4.77x	5.2x	5.04x	4.67x
EV/Revenue	2.4x	2.52x	2.44x	2.92x
EV/EBITDA	18.77x	22.61x	22.17x	25.31x
Price to FCF (P/FCF)	26.86x	27.04x	25.82x	25.96x
EV/FCF	31.25x	31.47x	29.38x	29.48x
FCF Yield	3.72%	3.7%	3.87%	3.85%