Loading…
Operator of the Channel Tunnel (Eurotunnel) linking the UK and France for rail and shuttle traffic.
Operator of the Channel Tunnel (Eurotunnel) linking the UK and France for rail and shuttle traffic.
Holds the concession to run the Channel Tunnel until 2086. Revenue comes from fares on its vehicle shuttles and from access charges paid by rail operators such as Eurostar and freight trains; ElecLink, a power cable through the tunnel, adds income from selling transmission capacity between the UK and France.
Moat: wide (regulatory licence, scale, installed base). Sole fixed rail link under the English Channel, an irreplaceable cross-border infrastructure asset.
Headquarters: Coquelles, France · Founded: 1986 · Employees: 3,892
Size Getlink (GET.PA) is a France Industrials company (Railroads) with a market value of $12.3B, the 43rd largest of 206 France companies the cockpit tracks. Shares closed at €20.22 on 6 Nov 2026.
Performance Over six months the shares gained 8.9%, against +1.9% for the median peer and -0.4% for the France market (cap-weighted) — 6th highest of 13 in its peer set.
Growth Revenue grew 8.7% over the last twelve months (peer median +5.0%); the operating margin is 40.1% (peer median 13.2%).
Valuation It trades at 35.3× forward earnings against a peer median of 15.6× (most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.0 points above its cost of capital (7.1% WACC).
Credit Getlink has 1 bond outstanding ($668M), rated BB+ by the agencies and trading like BBB- at a weighted spread of 140 bp.
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.68B | €1.59B | €1.61B | €1.83B | €1.61B |
| Revenue growth | — | -1% | -12% | +14% | — |
| Gross profit | €837M | €765M | €796M | €1.00B | €896M |
| EBITDA | €902M | €859M | €830M | €975M | €884M |
| Net income | €325M | €320M | €317M | €326M | €252M |
| Free cash flow | €550M | €473M | €573M | €732M | €749M |
| Capital expenditure | €207M | €192M | €155M | €144M | €188M |
| Total debt | n/a | €5.08B | €5.48B | €5.39B | €5.30B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GET.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +6.1% | 6th highest of 13 |
| 6-month return | +8.9% | +1.9% | 6th highest of 13 |
| Distance from 52-week high | -0.9% | -9.7% | 2nd highest of 13 |
| Revenue growth (TTM) | +8.7% | +5.0% | 2nd highest of 13 |
| Operating margin | 40.1% | 13.2% | 2nd highest of 13 |
| Forward P/E | 35.3× | 15.6× | most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 10.1% | 2.4% | 2nd most demanding of 6 |
| Growth delivered (Del g) | +14.3% | +11.3% | 2nd highest of 6 |
| Hurdle (Req g minus delivered) | -4.2 pp | -12.5 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | +1.0 pp | -1.3 pp | 3rd highest of 13 |
| EV / EBITDA | 16.3× | 10.5× | most expensive of 10 |
| Net debt / EBITDA | 4.1× | 5.6× | 4th least indebted of 10 |
| Bond spread | 140 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Getlink GET.PA | France | $12.3B | +9% | +9% | 40% | 35.3× | 10.1% | +14.3% |
| Daqin Railway 601006.SS | China | $14.5B | -7% | +3% | 6% | 16.3× | n/a | n/a |
| West Japan Railway 9021.T | Japan | $9.19B | +12% | +6% | 10% | 13.8× | 2.4% | +14.9% |
| GATX GATX | United States | $6.38B | -2% | +30% | 30% | 17.0× | n/a | n/a |
| East Japan Railway 9020.T | Japan | $27.4B | +13% | +9% | 14% | 15.8× | n/a | n/a |
| Keisei Electric Railway 9009.T | Japan | $4.51B | +26% | +4% | 11% | 15.5× | n/a | n/a |
| Aurizon AZJ.AX | Australia | $4.49B | -5% | +6% | 21% | 14.8× | 4.4% | +6.7% |
| Beijing-Shanghai High-Speed Railway 601816.SS | China | $39.3B | +9% | +3% | 44% | 18.7× | -2.8% | +11.3% |
| Odakyu Electric Railway 9007.T | Japan | $3.80B | +11% | +3% | 13% | 15.1× | n/a | n/a |
| Tobu Railway 9001.T | Japan | $3.58B | +3% | +5% | 11% | 10.0× | n/a | n/a |
| Container Corporation of India CONCOR.NS | India | $3.55B | -16% | +1% | 14% | 25.4× | 33.8% | +7.2% |
| Kyushu Railway 9142.T | Japan | $3.53B | 0% | +5% | 14% | 11.3× | n/a | n/a |
| Guangshen Railway 601333.SS | China | $3.16B | +1% | +5% | 6% | 16.3× | -14.9% | +11.9% |
Getlink has 1 bond outstanding with $668M face value. The agencies rate it BB+; its bonds trade like BBB-. Weighted yield 4.39%, a spread of 140 bp over government bonds.