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 1,227 - -
Change - -17.99% -0.08% 2.58% 13.82% -30.16% - -
Enterprise Value (EV) 1 1,702 1,180 999.7 1,038 1,242 827.1 850.8 890.6
Change - -30.64% -15.31% 3.79% 19.75% -33.43% 2.87% 4.67%
P/E 8.15x 8.62x 7.84x 7.54x 11.6x 13.4x 12.8x 11x
PBR 1.04x 0.81x 0.77x 0.75x 0.85x 0.6x 0.62x 0.64x
PEG - -0.4x 0.81x 1.14x -0.5x -0.3x 3.09x 0.6x
Capitalization / Revenue 0.76x 0.6x 0.66x 0.66x 0.76x 0.57x 0.56x 0.55x
EV / Revenue 0.7x 0.47x 0.44x 0.44x 0.54x 0.38x 0.39x 0.4x
EV / EBITDA 2.38x 1.55x 1.58x 1.48x 1.87x 1.49x 1.5x 1.53x
EV / EBIT 4.96x 3.73x 3.54x 3.59x 5.14x 5.48x 5.88x 5.37x
EV / FCF 5.35x 7.81x 3.04x 5.32x 16.2x -39.4x - -
FCF Yield 18.7% 12.8% 32.9% 18.8% 6.19% -2.54% - -
Dividend per Share 2 0.45 0.5 0.55 0.6 0.63 0.6506 0.6744 0.72
Rate of return 5.16% 6.99% 7.71% 8.2% 7.56% 11.2% 11.6% 12.3%
EPS 2 1.07 0.83 0.91 0.97 0.72 0.436 0.4541 0.5318
Distribution rate 42.1% 60.2% 60.4% 61.9% 87.5% 149% 149% 135%
Net sales 1 2,427 2,508 2,297 2,356 2,297 2,169 2,199 2,225
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 90.34 96.82 106
Net Debt 1 -134.8 -325.7 -505.1 -506.1 -514.6 -400 -376.3 -336.6
Reference price 2 8.725 7.155 7.135 7.315 8.330 5.835 5.835 5.835
Nbr of stocks (in thousands) 210,486 210,486 210,898 211,022 210,925 210,308 - -
Announcement Date 11/02/22 15/02/23 15/02/24 13/02/25 13/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.17x2.14x9.57x1.45% 179B
-27.51x2.89x12.47x-.--% 77.71B
10.66x1.47x6.32x0.91% 25.24B
42.86x6.15x26.43x-.--% 23.6B
8.83x2.13x6.93x4.11% 8.87B
17.89x1.9x20.32x1.69% 5.76B
14.23x0.71x5.64x8.23% 4.81B
4.9x1.98x5.54x4.72% 4.83B
12.38x1.02x7.74x1.59% 4.4B
Average 11.38x 2.27x 11.22x 2.52% 37.12B
Weighted average by Cap. 8.15x 2.51x 11.17x 1.19%

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