IRT 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	3.57B EUR	3.93B EUR	3.51B EUR	4.15B EUR
Enterprise Value	5.98B EUR	6.36B EUR	5.92B EUR	6.4B EUR
Valuation Multiples
Trailing P/E	82.06x	90.49x	72.91x	86.03x
Forward P/E	184.63x	--	--	--
Price to Sales	5.27x	5.9x	5.3x	8.35x
Price to Book	1.03x	1.17x	1.03x	1.2x
EV/Revenue	8.83x	9.53x	8.95x	12.9x
EV/EBITDA	15.82x	16.82x	15.77x	22.08x
Price to FCF (P/FCF)	19.18x	32.83x	28.99x	46.4x
EV/FCF	32.15x	53.03x	48.89x	71.67x
FCF Yield	5.21%	3.05%	3.45%	2.16%