AROW 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	673.89M EUR	678.19M EUR	554.81M EUR	516.38M EUR
Enterprise Value	827.69M EUR	826.48M EUR	298.38M EUR	331.39M EUR
Valuation Multiples
Trailing P/E	11.74x	13.22x	10.85x	13.72x
Forward P/E	8.45x	--	--	--
Price to Sales	3.96x	3.87x	3.24x	4.09x
Price to Book	1.35x	1.52x	1.26x	1.2x
EV/Revenue	4.86x	4.72x	1.74x	2.62x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	15.19x	13.42x	18.85x
EV/FCF	--	18.51x	7.22x	12.1x
FCF Yield	--	6.58%	7.45%	5.31%