MSGE 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	3.82B EUR	3.83B EUR	2.79B EUR	2.55B EUR
Enterprise Value	4.74B EUR	4.71B EUR	3.65B EUR	3.59B EUR
Valuation Multiples
Trailing P/E	58.58x	57.82x	56.86x	58.05x
Forward P/E	27.83x	--	--	--
Price to Sales	3.61x	3.61x	2.73x	3.3x
Price to Book	83.51x	83.58x	58.03x	70.74x
EV/Revenue	4.47x	4.44x	3.58x	4.64x
EV/EBITDA	21.22x	20.48x	17.21x	20.86x
Price to FCF (P/FCF)	11.12x	11.84x	8.91x	18.35x
EV/FCF	13.8x	14.57x	11.67x	25.83x
FCF Yield	8.99%	8.44%	11.23%	5.45%