VNT 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	4.36B EUR	3.96B EUR	5B EUR	5.29B EUR
Enterprise Value	6.03B EUR	5.62B EUR	6.7B EUR	6.93B EUR
Valuation Multiples
Trailing P/E	13.32x	11.38x	12.12x	16.62x
Forward P/E	8.53x	--	--	--
Price to Sales	1.42x	1.29x	1.62x	2.26x
Price to Book	3.61x	3.32x	3.97x	4.25x
EV/Revenue	1.96x	1.83x	2.17x	2.97x
EV/EBITDA	8.62x	8.01x	9.61x	13.05x
Price to FCF (P/FCF)	12.54x	10.29x	13.39x	15.18x
EV/FCF	17.33x	14.61x	17.96x	19.89x
FCF Yield	7.98%	9.72%	7.47%	6.59%