DLR-PL Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	--	6.77B EUR	7.03B EUR
Enterprise Value	27.71B EUR	23.56B EUR	23.24B EUR
Valuation Multiples
Trailing P/E	3.75x	4.91x	5.37x
Forward P/E	--	--	--
Price to Sales	--	1.07x	1.15x
Price to Book	0.25x	0.29x	0.31x
EV/Revenue	4.1x	3.72x	3.8x
EV/EBITDA	8.63x	7.68x	7.89x
Price to FCF (P/FCF)	--	2.66x	2.92x
EV/FCF	7.35x	9.25x	9.63x
FCF Yield	--	37.6%	34.3%