Has Getlink (ENXTPA:GET) Run Too Far Ahead On October Shuttle Traffic Data?

Detailed summary

Fresh traffic data is back in focus for Getlink (ENXTPA:GET) after the company reported October 2026 shuttle volumes, with monthly and year-to-date figures for freight trucks and…

Fresh traffic data is back in focus for Getlink (ENXTPA:GET) after the company reported October 2026 shuttle volumes, with monthly and year-to-date figures for freight trucks and passenger vehicles giving investors new usage reference points.

The fresh shuttle data lands while Getlink's share price has been climbing, with a 30 day share price return of 8.5% and year to date share price return of 30%, alongside a 1 year total shareholder return of 37%. This indicates momentum that has been building rather than fading over the past few months.

Scan how Getlink's recent traffic and share price momentum compares with other transport and infrastructure stocks by reviewing our curated list of list of solid balance sheet and fundamentals (198 results).

Getlink looks like a solid infrastructure franchise backed by recurring tunnel traffic and a long asset life. After such a strong share price run into late 2026, is that quality now fully reflected in the valuation or not?

On recent numbers, the Getlink share price of €20.68 equates to a P/E of 34.5x, while the broader European Infrastructure peer group trades on 17.5x and the immediate peer set on 10.4x. That is a steep premium for a business where analyst forecasts point to revenue growth of 2% per year and earnings growth of 4.17% per year.

The P/E ratio compares the current share price to earnings per share. For an infrastructure operator like Getlink, it reflects what investors are willing to pay today for each euro of current profit in a sector that often grows steadily rather than rapidly.

With earnings forecast to expand more slowly than both the French market on 11.7% earnings growth and the wider 5.7% revenue growth outlook, the current 34.5x P/E suggests the market is paying up heavily for Getlink's tunnel and interconnector assets.

Against this backdrop, the 34.5x earnings multiple towers over the 17.5x average for the European Infrastructure industry and the 10.4x peer group figure.

Still, any setback in tunnel traffic…

Opening of the article, excerpted from Yahoo Finance. To read the rest, open the article on the publisher's site.