Is Getlink (ENXTPA:GET) Expensive As June Traffic Trends Split?

June 2026 traffic update puts Getlink in focus

Getlink (ENXTPA:GET) is back on investors' radar after reporting June 2026 operating data, with LeShuttle Freight truck volumes and passenger vehicle traffic moving in different directions for both the month and year to date.

For June, LeShuttle Freight carried 100,485 trucks compared with 93,726 a year earlier, while LeShuttle transported 206,311 passenger vehicles compared with 215,751 in the same month last year.

See our latest analysis for Getlink.

Beyond the June traffic update, Getlink's €18.61 share price has delivered a 16.97% year to date share price return and a 21.89% one year total shareholder return, although the 90 day share price return declined 4.22%. This hints that recent momentum has cooled compared with the longer term record of a 66.49% five year total shareholder return.

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After a strong run in Getlink’s share price and a softer 90 day patch, the debate now is whether most of the easy gains are already behind the stock or if the current valuation still leaves meaningful upside ahead.

Price-to-earnings of 31.5x for Getlink: Is it justified?

On the latest numbers, Getlink is trading on a P/E of 31.5x, which points to a richer valuation relative to its earnings when set against several reference points.

The P/E ratio simply compares the current share price with earnings per share and is a common way to see how much you are paying for each unit of profit. For a mature, profitable infrastructure operator such as Getlink, this tends to reflect what the market is expecting in terms of the stability and growth of future earnings and cash flows.

Here, the signals are consistent. Getlink is described as expensive versus its estimated fair P/E of 15.1x, expensive versus the peer average of 13.9x, and expensive versus the wider European infrastructure industry average of 18.7x. At the same time, forecasts point to revenue growth of 2.3% per year and earnings growth of 2.2% per year, which are both slower than the broader French market. The current premium therefore suggests investors are paying up for the quality and scarcity of the asset rather than rapid growth.

Compared with the fair ratio indication of 15.1x, the current 31.5x multiple is at a much higher level. This implies a valuation that could move closer to that fair ratio if expectations or sentiment change.

Explore the SWS fair ratio for Getlink

Result: Price-to-earnings of 31.5x (OVERVALUED).

However, investors in Getlink also need to factor in execution risks related to its large fixed link assets, as well as any changes in truck or passenger traffic trends.

Find out about the key risks to this Getlink narrative.

Another view on Getlink’s valuation

Alongside the P/E comparison, Getlink also screens as expensive on a discounted cash flow basis. Our DCF model points to a future cash flow value of around €11.24 per share versus the current €18.61 price. This suggests the stock is trading well above that estimate. How should you weigh these conflicting signals?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Getlink for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 218 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

If this Getlink update leaves you on the fence, use the traffic data, valuation metrics and risk flags to stress test your own thesis quickly. To balance the concerns against the potential rewards in one place, start with the 1 key reward and 2 important warning signs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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