IVT 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	2.32B EUR	2.76B EUR	2.37B EUR	2.19B EUR
Enterprise Value	3.32B EUR	3.78B EUR	3.29B EUR	2.98B EUR
Valuation Multiples
Trailing P/E	156.74x	181.1x	21.62x	20.95x
Forward P/E	-133.73x	--	--	--
Price to Sales	7.32x	8.7x	7.71x	9.72x
Price to Book	1.31x	1.56x	1.34x	1.22x
EV/Revenue	10.46x	11.91x	10.69x	13.21x
EV/EBITDA	17.93x	19.22x	17.38x	21.61x
Price to FCF (P/FCF)	19.82x	22.95x	21.16x	22.34x
EV/FCF	28.34x	31.43x	29.34x	30.35x
FCF Yield	5.05%	4.36%	4.73%	4.48%