FVR 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	501.7M EUR	478.45M EUR	347.41M EUR	326.36M EUR
Enterprise Value	817.83M EUR	815.41M EUR	665.21M EUR	641.57M EUR
Valuation Multiples
Trailing P/E	1,660x	328.38x	--	--
Forward P/E	374.38x	--	--	--
Price to Sales	7.3x	6.89x	5.03x	6.42x
Price to Book	0.9x	1.09x	0.83x	0.83x
EV/Revenue	11.89x	11.74x	9.64x	12.62x
EV/EBITDA	16.5x	16.72x	13.61x	17.79x
Price to FCF (P/FCF)	7.15x	11.05x	8.45x	9.59x
EV/FCF	11.66x	18.83x	16.17x	18.86x
FCF Yield	13.98%	9.05%	11.84%	10.42%