GTM 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	1.13B EUR	856.48M EUR	1.77B EUR	3.13B EUR
Enterprise Value	2.48B EUR	2.23B EUR	3.17B EUR	4.52B EUR
Valuation Multiples
Trailing P/E	--	--	13.97x	32.09x
Forward P/E	3.44x	--	--	--
Price to Sales	0.9x	0.68x	1.41x	3.31x
Price to Book	1.37x	1.03x	1.2x	2.07x
EV/Revenue	1.97x	1.77x	2.53x	4.79x
EV/EBITDA	7.34x	7.39x	9.51x	17.78x
Price to FCF (P/FCF)	3.17x	2.41x	4.75x	10.99x
EV/FCF	6.96x	6.26x	8.5x	15.89x
FCF Yield	31.56%	41.54%	21.07%	9.1%