IVR 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	621.3M EUR	808.85M EUR	706.89M EUR	603.76M EUR
Enterprise Value	6.9B EUR	735.47M EUR	654.29M EUR	547.72M EUR
Valuation Multiples
Trailing P/E	3.68x	6.74x	11.45x	7.4x
Forward P/E	3.29x	--	--	--
Price to Sales	4.46x	5.8x	8.78x	6.32x
Price to Book	0.71x	0.82x	0.81x	0.76x
EV/Revenue	49.45x	5.27x	8.13x	5.73x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	4.87x	4.3x	4.38x
EV/FCF	--	4.43x	3.98x	3.98x
FCF Yield	--	20.53%	23.26%	22.81%