CAAP 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	4.01B EUR	4.15B EUR	4.13B EUR	4.24B EUR
Enterprise Value	4.29B EUR	4.15B EUR	4.56B EUR	4.75B EUR
Valuation Multiples
Trailing P/E	13.71x	14.19x	14.27x	20x
Forward P/E	10.83x	--	--	--
Price to Sales	1.89x	1.92x	1.96x	2.71x
Price to Book	2.15x	--	2.29x	2.67x
EV/Revenue	2.02x	1.92x	2.16x	3.03x
EV/EBITDA	5.7x	5.82x	5.83x	7.93x
Price to FCF (P/FCF)	6.62x	11.63x	8.82x	9.5x
EV/FCF	7.08x	11.63x	9.74x	10.65x
FCF Yield	15.1%	8.59%	11.33%	10.52%