TGS 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	3.87B EUR	22.38B EUR	26.05B EUR	23.4B EUR
Enterprise Value	-493.63B EUR	1.44T EUR	1.23T EUR	924.9B EUR
Valuation Multiples
Trailing P/E	9.63x	0.04x	0.06x	0.08x
Forward P/E	9.82x	--	--	--
Price to Sales	0x	0.01x	0.01x	0.02x
Price to Book	1.48x	0.01x	0.01x	0.01x
EV/Revenue	-0.27x	0.72x	0.64x	0.64x
EV/EBITDA	-0.48x	1.38x	1.24x	1.27x
Price to FCF (P/FCF)	0.01x	0.07x	0.16x	0.22x
EV/FCF	-1.37x	4.27x	7.76x	8.68x
FCF Yield	9,281.21%	1,509.78%	610.04%	455.27%