RAVE Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	32.69M EUR	37.66M EUR	46.9M EUR
Enterprise Value	18.43M EUR	36.81M EUR	46.67M EUR
Valuation Multiples
Trailing P/E	11.5x	12.86x	16.45x
Forward P/E	-15.33x	--	--
Price to Sales	2.53x	2.98x	3.79x
Price to Book	1.89x	2.29x	3.02x
EV/Revenue	1.43x	2.91x	3.77x
EV/EBITDA	5.06x	9.07x	11.7x
Price to FCF (P/FCF)	13.16x	11.75x	15.32x
EV/FCF	7.42x	11.49x	15.24x
FCF Yield	7.6%	8.51%	6.53%