GSL 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	1.61B EUR	1.35B EUR	1.34B EUR	1.26B EUR
Enterprise Value	1.79B EUR	1.64B EUR	1.59B EUR	1.67B EUR
Valuation Multiples
Trailing P/E	4.35x	3.54x	3.46x	4.29x
Forward P/E	5.03x	--	--	--
Price to Sales	2.11x	1.78x	1.77x	2.23x
Price to Book	0.83x	0.7x	0.71x	0.7x
EV/Revenue	2.35x	2.15x	2.09x	2.96x
EV/EBITDA	3.91x	3.1x	2.94x	4.11x
Price to FCF (P/FCF)	12.42x	4.66x	3.31x	3.87x
EV/FCF	13.83x	5.63x	3.92x	5.15x
FCF Yield	8.05%	21.46%	30.25%	25.83%