IPAR 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	3.59B EUR	3.58B EUR	2.91B EUR	2.72B EUR
Enterprise Value	3.75B EUR	3.58B EUR	3.01B EUR	2.77B EUR
Valuation Multiples
Trailing P/E	21.41x	21.35x	17.19x	21.61x
Forward P/E	21.57x	--	--	--
Price to Sales	2.39x	2.39x	1.95x	2.37x
Price to Book	4.13x	4.12x	3.3x	3.09x
EV/Revenue	2.5x	2.38x	2.02x	2.41x
EV/EBITDA	13.54x	11.87x	9.67x	12.1x
Price to FCF (P/FCF)	16.7x	14.73x	14.92x	13.74x
EV/FCF	17.41x	14.71x	15.45x	13.99x
FCF Yield	5.99%	6.79%	6.7%	7.28%