MGM 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	7.36B EUR	12.03B EUR	9.47B EUR	9.43B EUR
Enterprise Value	35.81B EUR	39.33B EUR	38.51B EUR	38.74B EUR
Valuation Multiples
Trailing P/E	18.07x	28.24x	51.9x	164.48x
Forward P/E	14.82x	--	--	--
Price to Sales	0.41x	0.68x	0.53x	0.71x
Price to Book	2.93x	4.78x	3.89x	3.88x
EV/Revenue	2.02x	2.21x	2.17x	2.92x
EV/EBITDA	16.01x	16.51x	19.7x	27.93x
Price to FCF (P/FCF)	8.38x	8.05x	6.09x	8.26x
EV/FCF	40.74x	26.31x	24.77x	33.94x
FCF Yield	11.94%	12.43%	16.42%	12.11%