GRDN 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	2.61B EUR	2.65B EUR	2.38B EUR	1.91B EUR
Enterprise Value	2.6B EUR	2.6B EUR	2.36B EUR	1.88B EUR
Valuation Multiples
Trailing P/E	40.08x	40.23x	44.94x	47.91x
Forward P/E	28.78x	--	--	--
Price to Sales	1.79x	1.81x	1.64x	1.7x
Price to Book	10.64x	10.8x	10.8x	9.26x
EV/Revenue	1.77x	1.77x	1.62x	1.68x
EV/EBITDA	23.73x	21.68x	23.04x	24.1x
Price to FCF (P/FCF)	40.51x	33.24x	34.06x	27.63x
EV/FCF	40.23x	32.55x	33.66x	27.21x
FCF Yield	2.47%	3.01%	2.94%	3.62%