GPK 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	2.47B EUR	3.13B EUR	2.94B EUR	4.44B EUR
Enterprise Value	8.04B EUR	8.59B EUR	8.5B EUR	9.82B EUR
Valuation Multiples
Trailing P/E	12.65x	16.13x	10.73x	14.02x
Forward P/E	7.94x	--	--	--
Price to Sales	0.29x	0.36x	0.34x	0.68x
Price to Book	0.76x	0.97x	0.91x	1.33x
EV/Revenue	0.93x	0.99x	0.98x	1.51x
EV/EBITDA	7.03x	7.44x	6.84x	9.68x
Price to FCF (P/FCF)	10.39x	16.56x	19.22x	10.95x
EV/FCF	33.78x	45.46x	55.58x	24.19x
FCF Yield	9.63%	6.04%	5.2%	9.13%