GRND3.SA 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	4.24B EUR	3.41B EUR	4.28B EUR	4.15B EUR
Enterprise Value	3.74B EUR	3.42B EUR	4.37B EUR	4.15B EUR
Valuation Multiples
Trailing P/E	7.34x	7.73x	8.64x	8.2x
Forward P/E	6.27x	--	--	--
Price to Sales	1.66x	2.18x	2.73x	2.6x
Price to Book	1.32x	1.06x	1.35x	1.32x
EV/Revenue	1.47x	2.19x	2.79x	2.6x
EV/EBITDA	14.63x	6.23x	7.1x	6.38x
Price to FCF (P/FCF)	17.64x	10.02x	9.92x	8.49x
EV/FCF	15.56x	10.04x	10.15x	8.49x
FCF Yield	5.67%	9.98%	10.08%	11.78%