IPCO.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	4.07B EUR	3.48B EUR	4.23B EUR	2.78B EUR
Enterprise Value	4.63B EUR	3.98B EUR	4.74B EUR	3.26B EUR
Valuation Multiples
Trailing P/E	140.38x	196.09x	195.37x	110.79x
Forward P/E	12.09x	--	--	--
Price to Sales	5.8x	5.76x	7.47x	4.83x
Price to Book	3.18x	3.83x	4.75x	3x
EV/Revenue	6.59x	6.59x	8.37x	5.66x
EV/EBITDA	18.42x	23.42x	30.43x	20.23x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-2.28%	-1.99%	-2.25%	-4.15%