Company Valuation: TF1

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,836 1,506 1,505 1,544 1,757 1,331 - -
Change - -17.99% -0.08% 2.58% 13.82% -24.23% - -
Enterprise Value (EV) 1 1,702 1,180 999.7 1,038 1,242 932.6 956.7 994.4
Change - -30.64% -15.31% 3.79% 19.75% -24.93% 2.59% 3.93%
P/E 8.15x 8.62x 7.84x 7.54x 11.6x 13.9x 13.2x 11x
PBR 1.04x 0.81x 0.77x 0.75x 0.85x 0.65x 0.66x 0.69x
PEG - -0.4x 0.81x 1.14x -0.5x -0.4x 2.43x 0.6x
Capitalization / Revenue 0.76x 0.6x 0.66x 0.66x 0.76x 0.61x 0.6x 0.59x
EV / Revenue 0.7x 0.47x 0.44x 0.44x 0.54x 0.43x 0.43x 0.44x
EV / EBITDA 2.38x 1.55x 1.58x 1.48x 1.87x 1.67x 1.69x 1.71x
EV / EBIT 4.96x 3.73x 3.54x 3.59x 5.14x 6.18x 6.61x 5.99x
EV / FCF 5.35x 7.81x 3.04x 5.32x 16.2x -44.4x - -
FCF Yield 18.7% 12.8% 32.9% 18.8% 6.19% -2.25% - -
Dividend per Share 2 0.45 0.5 0.55 0.6 0.63 0.6506 0.6744 0.7233
Rate of return 5.16% 6.99% 7.71% 8.2% 7.56% 10.3% 10.7% 11.4%
EPS 2 1.07 0.83 0.91 0.97 0.72 0.456 0.4808 0.5768
Distribution rate 42.1% 60.2% 60.4% 61.9% 87.5% 143% 140% 125%
Net sales 1 2,427 2,508 2,297 2,356 2,297 2,175 2,211 2,248
EBITDA 1 714.2 762.1 632.4 700 665.3 556.9 567 583.2
EBIT 1 343.2 316.2 282.7 289 241.8 151 144.7 165.9
Net income 1 225.3 176.1 191.9 206 152.8 96.34 105.1 125.5
Net Debt 1 -134.8 -325.7 -505.1 -506.1 -514.6 -398.6 -374.5 -336.9
Reference price 2 8.725 7.155 7.135 7.315 8.330 6.330 6.330 6.330
Nbr of stocks (in thousands) 210,486 210,486 210,898 211,022 210,925 210,308 - -
Announcement Date 2/11/22 2/15/23 2/15/24 2/13/25 2/13/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.64x2.19x9.77x1.42% 183B
42.68x6.12x26.32x-.--% 23.5B
17.94x1.87x19.46x1.71% 5.71B
46.79x - - 1.91% 4.45B
13.02x1.8x17.46x4.91% 3.69B
11.81x0.86x5.6x7.22% 3.39B
-5.2x2.12x7.6x-.--% 3.23B
13.78x0.58x4.55x1.63% 3.06B
7.36x0.71x3.22x6.68% 2.08B
Average 18.54x 2.03x 11.75x 2.83% 25.82B
Weighted average by Cap. 20.91x 2.52x 11.62x 1.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield