ARIS.TO 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	5.11B EUR	4.37B EUR	5.33B EUR	4.58B EUR
Enterprise Value	5B EUR	4.45B EUR	5.4B EUR	4.71B EUR
Valuation Multiples
Trailing P/E	12.9x	15.33x	30.7x	60.22x
Forward P/E	6.03x	--	--	--
Price to Sales	4.03x	3.44x	4.66x	5.94x
Price to Book	2.04x	2.47x	3.39x	3.16x
EV/Revenue	3.94x	3.5x	4.73x	6.11x
EV/EBITDA	7.99x	6.5x	9.71x	12.89x
Price to FCF (P/FCF)	42.29x	24.86x	22.98x	33.19x
EV/FCF	41.41x	25.32x	23.29x	34.16x
FCF Yield	2.36%	4.02%	4.35%	3.01%