NRIM 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	539.21M EUR	617.07M EUR	508.96M EUR	588.39M EUR
Enterprise Value	466.2M EUR	537.89M EUR	447.53M EUR	530.15M EUR
Valuation Multiples
Trailing P/E	7.97x	9.01x	7.84x	11.47x
Forward P/E	8.73x	--	--	--
Price to Sales	2.5x	2.78x	2.33x	3.49x
Price to Book	1.55x	1.78x	1.52x	1.8x
EV/Revenue	2.16x	2.43x	2.05x	3.15x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	3.32x	3.59x	5.01x
EV/FCF	--	2.89x	3.15x	4.51x
FCF Yield	--	30.16%	27.87%	19.98%