Getlink SE (GET.PA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+84.2%

€36.76

vs €19.96 price

Levered DCF

€16.23

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.77

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	27.12×	26.12×	27.62×	31.87×	-33.86×	-67.52×	51.7×	48.88×
P/B	3.12×	3.35×	3.63×	3.33×	5.95×	5.56×	5.07×	3.12×
P/S	5.42×	5.17×	4.9×	5.04×	10.13×	9.34×	7.66×	5.81×
EV / EBITDA	14.28×	16.47×	15.09×	17.63×	103.39×	52.92×	22.9×	22.58×
Gross margin	48.0%	51.6%	40.2%	47.0%	21.5%	25.8%	51.6%	52.7%
Operating margin	39.5%	37.1%	39.6%	40.9%	11.8%	17.0%	34.5%	36.8%
Net margin	20.1%	19.6%	17.8%	15.7%	-29.6%	-13.8%	14.6%	12.1%
Current ratio	3.31×	1.36×	3.18×	2.45×	2.23×	2.41×	2.04×	2.28×
Debt / equity	1.85×	2.21×	2.19×	2.18×	4.02×	3.61×	3.02×	2.42×
Interest coverage	3.03×	2.47×	3.4×	3.35×	0.55×	0.75×	1.99×	2.24×
Dividend yield	3.6%	3.6%	3.0%	0.7%	0.3%	0.0%	2.3%	2.6%
Payout ratio	98.1%	94.0%	83.1%	21.5%	-11.8%	0.0%	121.4%	123.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	12.7%	13.2%	10.4%	-17.4%	-8.2%	9.7%	6.5%
Return on invested capital	7.3%	6.8%	6.7%	7.5%	1.1%	1.8%	5.0%	5.3%
Return on assets	3.6%	3.4%	3.6%	2.9%	-2.8%	-1.4%	2.0%	1.6%
Free cash flow yield	5.5%	8.5%	10.0%	9.3%	0.4%	1.0%	4.2%	4.8%
Earnings yield	3.7%	3.8%	3.6%	3.1%	-2.9%	-1.5%	1.9%	2.1%
Enterprise value	€12.3B	€12.3B	€13.1B	€12.2B	€12.4B	€11.9B	€12.7B	€10.5B
Net debt / EBITDA	4.21×	5.29×	4.76×	5.93×	38.11×	19.16×	7.95×	9.11×
Cash conversion cycle (days)	-23	-15	-26	-28	3	9	-18	-20