(GET) Getlink SE - Overview
Sector: Industrials | Industry: Railroads | Exchange: PA (France) | Market Cap: 9.976m EUR | Total Return: 8.8% in 12m
Industry Rotation: +5.4
Avg Turnover: 16.0M
Warnings
No concerns identified
Tailwinds
Confidence
Getlink SE manages critical cross-border infrastructure between France and the United Kingdom, primarily through the operation of the Channel Tunnel. The company’s business model is divided into three core segments: Eurotunnel, which provides vehicle shuttle services and rail freight access; Europorte, an integrated rail freight operator; and ElecLink, a 1-gigawatt electricity interconnector utilizing the tunnel infrastructure.
The Eurotunnel segment functions as a natural monopoly, operating the only fixed link between the UK and mainland Europe under a long-term concession agreement. This infrastructure-heavy model benefits from high barriers to entry and steady demand for trans-channel logistics and passenger transit.
Beyond transportation, Getlink leverages its physical assets for telecommunications cabling, property management, and professional rail training. Investors can further assess the companys valuation metrics and growth drivers on ValueRay.
The Rail Transportation sector is characterized by high capital expenditure requirements and a close correlation with regional trade volumes. Getlink’s diversification into energy transmission via ElecLink provides a distinct revenue stream that decouples a portion of its earnings from traditional freight and passenger traffic cycles.
- Cross-channel passenger and freight shuttle volumes drive core Eurotunnel segment revenue
- ElecLink interconnector profitability hinges on French and British electricity price spreads
- Post-Brexit border controls and regulatory changes impact operational efficiency and costs
- Shift toward sustainable transport increases demand for low-carbon rail freight services
- Macroeconomic stability in the UK and France dictates consumer discretionary travel spending
| Net Income: 580.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -3.85 > 1.0 |
| NWC/Revenue: 41.45% < 20% (prev 40.44%; Δ 1.01% < -1%) |
| CFO/TA 0.16 > 3% & CFO 1.46b > Net Income 580.5m |
| Net Debt (3.62b) to EBITDA (1.22b): 2.97 < 3 |
| Current Ratio: 2.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (549.9m) vs 12m ago 1.43% < -2% |
| Gross Margin: 38.78% > 18% (prev 0.50%; Δ 3.83k% > 0.5%) |
| Asset Turnover: 31.52% > 50% (prev 33.80%; Δ -2.28% > 0%) |
| Interest Coverage Ratio: 2.33 > 6 (EBITDA TTM 1.22b / Interest Expense TTM 348.0m) |
| A: 0.13 (Total Current Assets 1.78b - Total Current Liabilities 607.0m) / Total Assets 9.01b |
| B: 0.08 (Retained Earnings 710.0m / Total Assets 9.01b) |
| C: 0.09 (EBIT TTM 812.5m / Avg Total Assets 9.02b) |
| D: 0.44 (Book Value of Equity 2.77b / Total Liabilities 6.24b) |
| Altman-Z'' Score: 2.19 = BBB |
| DSRI: 0.70 (Receivables 122.0m/187.0m, Revenue 2.84b/3.05b) |
| GMI: 1.29 (GM 38.78% / 50.10%) |
| AQI: 1.05 (AQ_t 0.07 / AQ_t-1 0.06) |
| SGI: 0.93 (Revenue 2.84b / 3.05b) |
| TATA: -0.10 (NI 580.5m - CFO 1.46b) / TA 9.01b) |
| Beneish M-Score: -3.13 (Cap -4..+1) = AA |
Over the past week, the price has changed by -0.65%, over one month by -5.59%, over three months by +1.38% and over the past year by +8.77%.
| Analysts Target Price | - | - |
P/E Trailing = 31.1864
P/E Forward = 30.8642
P/S = 6.0458
P/B = 3.6253
P/EG = 0.5527
Revenue TTM = 2.84b EUR
EBIT TTM = 812.5m EUR
EBITDA TTM = 1.22b EUR
Long Term Debt = 4.98b EUR (from longTermDebt, two quarters ago)
Short Term Debt = 121.0m EUR (from shortTermDebt, two quarters ago)
Debt = 5.12b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.62b EUR (from netDebt column, last quarter)
Enterprise Value = 13.59b EUR (9.98b + Debt 5.12b - CCE 1.50b)
Interest Coverage Ratio = 2.33 (Ebit TTM 812.5m / Interest Expense TTM 348.0m)
EV/FCF = 12.53x (Enterprise Value 13.59b / FCF TTM 1.08b)
FCF Yield = 7.98% (FCF TTM 1.08b / Enterprise Value 13.59b)
FCF Margin = 38.16% (FCF TTM 1.08b / Revenue TTM 2.84b)
Net Margin = 20.43% (Net Income TTM 580.5m / Revenue TTM 2.84b)
Gross Margin = 38.78% ((Revenue TTM 2.84b - Cost of Revenue TTM 1.74b) / Revenue TTM)
Gross Margin QoQ = 10.05% (prev 49.19%)
Tobins Q-Ratio = 1.51 (Enterprise Value 13.59b / Total Assets 9.01b)
Interest Expense / Debt = 2.07% (Interest Expense 106.0m / Debt 5.12b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = 609.4m (EBIT 812.5m * (1 - 25.00%))
Current Ratio = 2.94 (Total Current Assets 1.78b / Total Current Liabilities 607.0m)
Debt / Equity = 1.85 (Debt 5.12b / totalStockholderEquity, last quarter 2.77b)
Debt / EBITDA = 2.97 (Net Debt 3.62b / EBITDA 1.22b)
Debt / FCF = 3.34 (Net Debt 3.62b / FCF TTM 1.08b)
Total Stockholder Equity = 2.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.44% (Net Income 580.5m / Total Assets 9.01b)
RoE = 22.99% (Net Income TTM 580.5m / Total Stockholder Equity 2.52b)
RoCE = 10.82% (EBIT 812.5m / Capital Employed (Equity 2.52b + L.T.Debt 4.98b))
RoIC = 7.87% (NOPAT 609.4m / Invested Capital 7.74b)
WACC = 4.68% (E(9.98b)/V(15.09b) * Re(6.28%) + D(5.12b)/V(15.09b) * Rd(2.07%) * (1-Tc(0.25)))
Discount Rate = 6.28% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: 82.22 | Cagr: 0.86%
[DCF] Terminal Value 83.71% ; FCFF base≈1.22b ; Y1≈974.8m ; Y5≈655.5m
[DCF] Fair Price = 30.38 (EV 20.09b - Net Debt 3.62b = Equity 16.47b / Shares 542.2m; r=6.0% [WACC]; 5y FCF grow -24.38% → 3.0% )
EPS Correlation: 6.75 | EPS CAGR: -26.22% | SUE: 0.0 | # QB: 0
Revenue Correlation: 61.23 | Revenue CAGR: 64.13% | SUE: -0.02 | # QB: 0
EPS current Year (2026-12-31): EPS=0.59 | Chg30d=+6.81% | Revisions=+60% | GrowthEPS=+0.8% | GrowthRev=+7.2%
EPS next Year (2027-12-31): EPS=0.58 | Chg30d=+1.14% | Revisions=+9% | GrowthEPS=-1.8% | GrowthRev=+1.0%
[Analyst] Revisions Ratio: +60%