VTRU3.SA 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	3B EUR	1.96B EUR	1.83B EUR	1.9B EUR
Enterprise Value	4.34B EUR	4.11B EUR	4.61B EUR	4.55B EUR
Valuation Multiples
Trailing P/E	2.54x	1.79x	1.64x	5.94x
Forward P/E	6.19x	--	--	--
Price to Sales	1.28x	0.84x	0.8x	1.11x
Price to Book	0.75x	0.49x	0.49x	0.65x
EV/Revenue	1.85x	1.75x	2.01x	2.65x
EV/EBITDA	5.9x	3.8x	4.31x	5.62x
Price to FCF (P/FCF)	10.76x	4.94x	5.23x	15.1x
EV/FCF	15.57x	10.34x	13.19x	36.14x
FCF Yield	9.29%	20.24%	19.11%	6.62%