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 1,382 - -
Change - -17.99% -0.08% 2.58% 13.82% -21.36% - -
Enterprise Value (EV) 1 1,702 1,180 999.7 1,038 1,242 983.1 1,007 1,045
Change - -30.64% -15.31% 3.79% 19.75% -20.87% 2.45% 3.74%
P/E 8.15x 8.62x 7.84x 7.54x 11.6x 14.4x 13.7x 11.4x
PBR 1.04x 0.81x 0.77x 0.75x 0.85x 0.68x 0.69x 0.72x
PEG - -0.4x 0.81x 1.14x -0.5x -0.4x 2.52x 0.6x
Capitalization / Revenue 0.76x 0.6x 0.66x 0.66x 0.76x 0.64x 0.62x 0.61x
EV / Revenue 0.7x 0.47x 0.44x 0.44x 0.54x 0.45x 0.46x 0.46x
EV / EBITDA 2.38x 1.55x 1.58x 1.48x 1.87x 1.77x 1.78x 1.79x
EV / EBIT 4.96x 3.73x 3.54x 3.59x 5.14x 6.51x 6.96x 6.3x
EV / FCF 5.35x 7.81x 3.04x 5.32x 16.2x -46.8x - -
FCF Yield 18.7% 12.8% 32.9% 18.8% 6.19% -2.14% - -
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% 9.9% 10.3% 11%
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 6.570 6.570 6.570
Nbr of stocks (in thousands) 210,486 210,486 210,898 211,022 210,925 210,308 - -
Announcement Date 11/2/22 15/2/23 15/2/24 13/2/25 13/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.41x0.45x1.77x9.9% 1.58B
18.02x2.13x9.49x1.47% 177B
42.65x6.12x26.3x-.--% 23.47B
17.98x1.88x19.51x1.71% 5.73B
45.63x - - 1.96% 4.35B
12.91x1.79x17.38x4.95% 3.67B
-6.05x2.15x7.67x-.--% 3.37B
11.88x0.86x5.62x7.18% 3.45B
15.86x0.61x4.81x1.38% 3.42B
7.63x0.72x3.25x6.45% 2.14B
Average 18.09x 1.86x 10.64x 3.5% 22.85B
Weighted average by Cap. 20.39x 2.47x 11.36x 1.56%

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

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