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 1,441 - -
Change - -17.99% -0.08% 2.58% 13.82% -18.01% - -
Enterprise Value (EV) 1 1,702 1,180 999.7 1,038 1,242 1,065 1,062 1,104
Change - -30.64% -15.31% 3.79% 19.75% -14.31% -0.29% 3.98%
P/E 8.15x 8.62x 7.84x 7.54x 11.6x 14.9x 14.1x 11.9x
PBR 1.04x 0.81x 0.77x 0.75x 0.85x 0.7x 0.72x 0.75x
PEG - -0.4x 0.81x 1.14x -0.5x -0.4x 2.39x 0.6x
Capitalization / Revenue 0.76x 0.6x 0.66x 0.66x 0.76x 0.66x 0.65x 0.64x
EV / Revenue 0.7x 0.47x 0.44x 0.44x 0.54x 0.49x 0.48x 0.49x
EV / EBITDA 2.38x 1.55x 1.58x 1.48x 1.87x 1.91x 1.87x 1.89x
EV / EBIT 4.96x 3.73x 3.54x 3.59x 5.14x 7x 7.23x 6.65x
EV / FCF 5.35x 7.81x 3.04x 5.32x 16.2x -50.7x - -
FCF Yield 18.7% 12.8% 32.9% 18.8% 6.19% -1.97% - -
Dividend per Share 2 0.45 0.5 0.55 0.6 0.63 0.6633 0.6744 0.7233
Rate of return 5.16% 6.99% 7.71% 8.2% 7.56% 9.68% 9.85% 10.6%
EPS 2 1.07 0.83 0.91 0.97 0.72 0.4586 0.4856 0.5768
Distribution rate 42.1% 60.2% 60.4% 61.9% 87.5% 145% 139% 125%
Net sales 1 2,427 2,508 2,297 2,356 2,297 2,182 2,216 2,248
EBITDA 1 714.2 762.1 632.4 700 665.3 556.9 567 583.2
EBIT 1 343.2 316.2 282.7 289 241.8 152.1 146.7 165.9
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 -376 -379.1 -336.9
Reference price 2 8.725 7.155 7.135 7.315 8.330 6.850 6.850 6.850
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.48x2.17x9.69x1.43% 182B
43.09x6.18x26.57x-.--% 23.75B
18.24x1.89x19.38x1.69% 5.84B
44.63x - - 2% 4.25B
13.47x1.73x17.01x4.77% 3.83B
-6.52x2.2x7.86x-.--% 3.63B
12.48x0.89x5.82x6.96% 3.6B
16.52x0.62x4.92x1.11% 3.59B
8.23x0.71x3.21x6.06% 2.31B
Average 18.73x 2.05x 11.81x 2.67% 25.85B
Weighted average by Cap. 20.76x 2.51x 11.59x 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

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