GRFS Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026
Market & Enterprise Value
Market Cap	5.08B EUR	4.82B EUR	5.46B EUR
Enterprise Value	21.34B EUR	12.82B EUR	14.43B EUR
Valuation Multiples
Trailing P/E	9.69x	10.87x	15.67x
Forward P/E	5.17x	--	--
Price to Sales	0.68x	0.65x	0.74x
Price to Book	1.63x	0.87x	1x
EV/Revenue	2.88x	1.72x	1.96x
EV/EBITDA	12.97x	8.05x	9.35x
Price to FCF (P/FCF)	8.86x	9.88x	12.76x
EV/FCF	37.25x	26.29x	33.73x
FCF Yield	11.28%	10.12%	7.84%