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 1,389 - -
Change - -17.99% -0.08% 2.58% 13.82% -20.94% - -
Enterprise Value (EV) 1 1,702 1,180 999.7 1,038 1,242 990.4 1,015 1,052
Change - -30.64% -15.31% 3.79% 19.75% -20.28% 2.43% 3.71%
P/E 8.15x 8.62x 7.84x 7.54x 11.6x 14.5x 13.7x 11.5x
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 0.63x 0.62x
EV / Revenue 0.7x 0.47x 0.44x 0.44x 0.54x 0.46x 0.46x 0.47x
EV / EBITDA 2.38x 1.55x 1.58x 1.48x 1.87x 1.78x 1.79x 1.8x
EV / EBIT 4.96x 3.73x 3.54x 3.59x 5.14x 6.56x 7.01x 6.34x
EV / FCF 5.35x 7.81x 3.04x 5.32x 16.2x -47.2x - -
FCF Yield 18.7% 12.8% 32.9% 18.8% 6.19% -2.12% - -
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% 9.85% 10.2% 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 6.605 6.605 6.605
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.($)
18.49x2.17x9.69x1.43% 182B
42.49x6.1x26.22x-.--% 23.39B
18.26x1.91x19.84x1.68% 5.86B
44.37x - - 2.02% 4.23B
13.27x1.82x17.63x4.81% 3.8B
-6.31x2.17x7.75x-.--% 3.48B
11.99x0.87x5.67x7.11% 3.48B
15.61x0.61x4.77x1.4% 3.36B
7.7x0.72x3.26x6.39% 2.16B
Average 18.43x 2.05x 11.85x 2.76% 25.74B
Weighted average by Cap. 20.68x 2.51x 11.56x 1.47%

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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