CAI 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	8.39B EUR	5.04B EUR	5.05B EUR	7.62B EUR
Enterprise Value	7.43B EUR	4.8B EUR	4.66B EUR	7.25B EUR
Valuation Multiples
Trailing P/E	17.57x	47.9x	148.72x	220.99x
Forward P/E	80.46x	--	--	--
Price to Sales	8.48x	5.09x	5.57x	11.03x
Price to Book	14.18x	8.51x	8.52x	13.2x
EV/Revenue	7.51x	4.85x	5.14x	10.5x
EV/EBITDA	42.7x	23.75x	30.84x	54.14x
Price to FCF (P/FCF)	132.67x	40.62x	40.94x	75.53x
EV/FCF	117.46x	38.7x	37.78x	71.88x
FCF Yield	0.75%	2.46%	2.44%	1.32%