ESRT 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	1.42B EUR	934.62M EUR	894.71M EUR	1.11B EUR
Enterprise Value	3.68B EUR	3.08B EUR	3.17B EUR	3.38B EUR
Valuation Multiples
Trailing P/E	231.5x	128.49x	22.58x	29.78x
Forward P/E	77.17x	--	--	--
Price to Sales	1.81x	1.19x	1.15x	1.89x
Price to Book	0.77x	0.9x	0.84x	1.05x
EV/Revenue	4.7x	3.93x	4.09x	5.75x
EV/EBITDA	11.48x	9.05x	9.19x	12.75x
Price to FCF (P/FCF)	4.98x	4.11x	3.81x	6.7x
EV/FCF	12.9x	13.51x	13.51x	20.36x
FCF Yield	20.09%	24.36%	26.25%	14.92%