VRNO 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	382.93M EUR	478.11M EUR	404.42M EUR	457.69M EUR
Enterprise Value	790.33M EUR	886.6M EUR	826.75M EUR	877.77M EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	9.81x	--	--	--
Price to Sales	0.46x	0.76x	0.66x	0.74x
Price to Book	0.57x	0.71x	0.59x	0.65x
EV/Revenue	0.95x	1.4x	1.34x	1.42x
EV/EBITDA	4.53x	8.88x	6.62x	6.73x
Price to FCF (P/FCF)	9.33x	17.85x	47.79x	--
EV/FCF	19.25x	33.1x	97.7x	--
FCF Yield	10.72%	5.6%	2.09%	-1.59%