VSTS 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	1.87B EUR	1.92B EUR	1.04B EUR	880.27M EUR
Enterprise Value	3.13B EUR	3.2B EUR	2.37B EUR	2.25B EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	18.18x	--	--	--
Price to Sales	0.69x	0.71x	0.38x	0.43x
Price to Book	2.13x	2.19x	1.2x	1.02x
EV/Revenue	1.16x	1.19x	0.87x	1.1x
EV/EBITDA	12.43x	14.37x	11.18x	14.65x
Price to FCF (P/FCF)	27x	14.07x	10.66x	16.97x
EV/FCF	45.28x	23.46x	24.28x	43.3x
FCF Yield	3.7%	7.11%	9.38%	5.89%