FORR 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	216.85M EUR	162.18M EUR	108.54M EUR	154.39M EUR
Enterprise Value	154.36M EUR	166.65M EUR	96.97M EUR	162.95M EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	12.59x	--	--	--
Price to Sales	0.57x	0.43x	0.28x	0.5x
Price to Book	1.81x	1.33x	1.02x	1.22x
EV/Revenue	0.41x	0.44x	0.25x	0.53x
EV/EBITDA	10.59x	7.52x	3.77x	6.37x
Price to FCF (P/FCF)	18.75x	53.47x	9.52x	--
EV/FCF	13.35x	54.95x	8.51x	--
FCF Yield	5.33%	1.87%	10.5%	-5.17%