(GET) Getlink SE - PA
Sector: Industrials | Industry: Railroads | Exchange: PA (France) | Market Cap: 9.987m EUR | Total Return: 17.2% in 12m
Avg Turnover: 11.3M
Warnings
High Debt/EBITDA (9.5) with thin interest coverage (0.8)
Interest Coverage Ratio 0.8 is critical
Below Avwap Earnings
Tailwinds
No distinct edge detected
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: 263.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -3.53 > 1.0 |
| NWC/Revenue: 101.5% < 20% (prev 32.09%; Δ 69.37% < -1%) |
| CFO/TA 0.07 > 3% & CFO 665.0m > Net Income 263.5m |
| Net Debt (3.68b) to EBITDA (389.5m): 9.45 < 3 |
| Current Ratio: 3.31 > 1.5 & < 3 |
| Outstanding Shares: last quarter (549.9m) vs 12m ago 1.43% < -2% |
| Gross Margin: 21.91% > 18% (prev 51.61%; Δ -29.71% > 0.5%) |
| Asset Turnover: 13.46% > 50% (prev 17.48%; Δ -4.01% > 0%) |
| Interest Coverage Ratio: 0.77 > 6 (EBIT TTM 214.5m / Interest Expense TTM 279.0m) |
| A: 0.14 (Total Current Assets 1.78b - Total Current Liabilities 539.0m) / Total Assets 9.01b |
| B: 0.12 (Retained Earnings 1.12b / Total Assets 9.01b) |
| C: 0.02 (EBIT TTM 214.5m / Avg Total Assets 9.12b) |
| D: 0.44 (Book Value of Equity 2.77b / Total Liabilities 6.24b) |
| Altman-Z'' = 1.94 = BBB |
| DSRI: 0.72 (Receivables 122.0m/224.0m, Revenue 1.23b/1.61b) |
| GMI: 2.36 (GM 51.61% / 21.91%) |
| AQI: 0.72 (AQ_t 0.07 / AQ_t-1 0.09) |
| SGI: 0.76 (Revenue 1.23b / 1.61b) |
| TATA: -0.04 (NI 263.5m - CFO 665.0m) / TA 9.01b) |
| Beneish M = -2.37 (Cap -4..+1) = BBB |
As of June 15, 2026, the stock is trading at EUR 18.41 with a total of 530,233 shares traded.
Over the past week, the price has changed by +0.99%,
over one month by +3.57%,
over three months by +7.68% and
over the past year by +17.20%.
Getlink SE has no consensus analysts rating.
P/E Trailing = 31.2034
P/E Forward = 30.6748
P/S = 6.0527
P/B = 3.608
P/EG = 0.5527
Revenue TTM = 1.23b EUR
EBIT TTM = 214.5m EUR
EBITDA TTM = 389.5m EUR
Long Term Debt = 4.92b EUR (from longTermDebt, last quarter)
Short Term Debt = 109.0m EUR (from shortLongTermDebt, last quarter)
Debt = 5.18b EUR (from shortLongTermDebtTotal, last quarter) + Leases 65.0m
Net Debt = 3.68b EUR (calculated: Debt 5.18b - CCE 1.50b)
Enterprise Value = 13.7b EUR (9.99b + Debt 5.18b - CCE 1.50b)
Interest Coverage Ratio = 0.77 (Ebit TTM 214.5m / Interest Expense TTM 279.0m)
EV/FCF = 36.50x (Enterprise Value 13.7b / FCF TTM 374.5m)
FCF Yield = 2.74% (FCF TTM 374.5m / Enterprise Value 13.7b)
FCF Margin = 30.50% (FCF TTM 374.5m / Revenue TTM 1.23b)
Net Margin = 21.46% (Net Income TTM 263.5m / Revenue TTM 1.23b)
Gross Margin = 21.91% ((Revenue TTM 1.23b - Cost of Revenue TTM 959.0m) / Revenue TTM)
Gross Margin QoQ = 10.05% (prev 49.19%)
Tobins Q-Ratio = 1.52 (Enterprise Value 13.7b / Total Assets 9.01b)
Interest Expense / Debt = 5.39% (Interest Expense 279.0m / Debt 5.18b)
Taxrate = 0.0% (0.0 / 316.0m)
NOPAT = 214.5m (EBIT 214.5m * (1 - 0.00%))
Current Ratio = 3.31 (Total Current Assets 1.78b / Total Current Liabilities 539.0m)
Debt / Equity = 1.87 (Debt 5.18b / totalStockholderEquity, last quarter 2.77b)
Debt / EBITDA = 9.45 (Net Debt 3.68b / EBITDA 389.5m)
Debt / FCF = 9.83 (Net Debt 3.68b / FCF TTM 374.5m)
Total Stockholder Equity = 2.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.89% (Net Income 263.5m / Total Assets 9.01b)
RoE = 10.44% (Net Income TTM 263.5m / Total Stockholder Equity 2.52b)
RoCE = 2.88% (EBIT 214.5m / Capital Employed (Equity 2.52b + L.T.Debt 4.92b))
RoIC = 2.55% (NOPAT 214.5m / Invested Capital 8.41b)
WACC = 5.92% (E(9.99b)/V(15.2b) * Re(6.19%) + D(5.18b)/V(15.2b) * Rd(5.39%) * (1-Tc(0.0)))
Discount Rate = 6.19% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 0.86%
[DCF] Terminal Value 73.10% ; FCFF base≈508.7m ; Y1≈446.1m ; Y5≈360.4m
[DCF] Fair Price = 3.88 (EV 5.79b - Net Debt 3.68b = Equity 2.10b / Shares 542.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -23.96 | Revenue CAGR: -5.26% | SUE: -0.02 | # QB: 0
EPS current Year (2026-12-31): EPS=0.59 | Chg30d=+0.00% | Revisions=N/A | GrowthEPS=+0.8% | GrowthRev=+6.9%
EPS next Year (2027-12-31): EPS=0.59 | Chg30d=+0.57% | Revisions=+20% | GrowthEPS=-1.3% | GrowthRev=+1.8%
[Analyst] Revisions Ratio: +20%