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Banijay Group (BNJ) Fair Value & Analysis

Communication Services · NL · Market cap €3.6B

BG Banijay Group BNJ · AS
Price€8.98
Fair Value€12.87
Upside+43.3%
Quality60/100
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Healthy Growth
Thin margins · 4.9% net margin
High debt · generates free cash flow
3.97% dividend yield
Ranks above peers (11/14)
Moderate moat 58/100
Evidence: High Range €9.24 – €16.08 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Share price +5.4% over the past month.

A solid business, screening 43% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€9.24). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€10.19 €7.06 Fair Value €12.87 Dec 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

56‑month range €7.06 – €10.19 · fair‑value band €9.24 – €16.08 · the €8.98 price screens below the €12.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Banijay Group (BNJ) currently trades at €8.98, while our model-based Fair Value estimate is €12.87, implying the stock looks roughly 43.3% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Banijay Group generated revenue of €4.9B at a net margin of 4.9%. Revenue grew 5.8% year over year. It earns a return on equity of 187.0%. Net debt stands at €2.8B. Fundamentals as of Jul 19, 2026

Our scenario range runs from €9.24 (bear case) to €16.08 (bull case); at €8.98, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 19% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -52% fair-value upside, at 43%, BNJ screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €9.52 €21.11 €40.26 80
Residual Income €1.27 €1.74 €17.49 76
Rev-Margin DCF €9.00 €20.52 €35.83 74
All 26 models by family
DCF Models
FCF DCF €9.77 €22.89 €45.61 38
Owner Earnings €2.47 €9.45 €21.53 31
5Y Revenue Exit €9.00 €20.89 €37.32 39
5Y EBITDA Exit €11.85 €26.92 €46.22 41
5Y P/E Exit €5.02 €12.49 €21.04 38
10Y Revenue Exit €8.63 €19.99 €37.98 36
10Y EBITDA Exit €10.99 €24.37 €45.45 37
10Y P/E Exit €6.51 €13.88 €24.33 35
Earnings-Based
Graham-Dodd €3.98 €20.09 €27.75 54
Lynch FV €5.45 €7.79 €10.13 50
PEG = 1.0 €5.45 €7.79 €10.13 46
EPV €5.98 €7.84 €9.45 59
Dividend Discount
Gordon GGM €3.07 €6.12 €9.27 70
DDM Multi-Stage €3.07 €5.29 €6.46 61
Multiples
P/E Multiple €9.21 €12.28 €15.35 63
P/S Multiple €7.46 €9.94 €12.43 58
P/B Multiple €1.04 €1.38 €1.73 55
EV/EBIT €15.02 €21.97 €28.92 53
EV/EBITDA €14.29 €21.00 €27.71 54
EV/Revenue €8.70 €14.93 €21.15 43
Asset-Based
NCAV (Graham) €0.1500 €0.2100 €0.3100 50
Growth DCF
Growth DCF €9.52 €21.11 €40.26 80
Rev-Margin DCF €9.00 €20.52 €35.83 74
Economic Profit
Residual Income €1.27 €1.74 €17.49 76
ROIC Compounder €7.69 €12.35 €18.34 72
Growth Earnings
Growth-Adj P/E €8.28 €11.83 €15.38 68

Widest divergence: Growth DCF (€20.52) versus Asset-Based (€0.2100). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €4.9B
Revenue growth (YoY) +5.8%
Net margin 4.9%
Return on equity 187%
Free cash flow €522M FY2025
P/E ratio 15.1
More key figures
Operating margin 11.1%
EPS (TTM) €0.5700
Dividend yield 4.0%
EPS growth (YoY) -15.4%
Net debt €2.8B FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 57 · Market factors (momentum, volatility) 60

Profitability 66
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Banijay Group N.V. engages in the content production, distribution, online sports betting, and gaming businesses in the United States, Europe, and internationally.

Full company description

Banijay Group N.V. engages in the content production, distribution, online sports betting, and gaming businesses in the United States, Europe, and internationally. The company produces scripted and non-scripted content across various genres, including reality, entertainment, and talk shows; game shows, factual entertainment, documentary, drama, animation, and comedy; live experiences; and non-scripted content shows. It also operates online sports betting platforms. The company was formerly known as FL Entertainment N.V. and changed its name to Banijay Group N.V. in May 2024. Banijay Group N.V. was founded in 2007 and is headquartered in Paris, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Banijay Group reported revenue of €4.9B in FY2025 versus €3.5B in FY2021, a compound +8.7%/yr. Reported net income was €248M in FY2025.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€4.9B
Latest YoY
+1.6%
Avg. growth/yr (3Y)
+6.4%
Avg. growth/yr (5Y)
+18.1%
Avg. growth/yr (6Y)
+22.3%
Revenue +8.7%/yr
FY21 €3.5B
FY22 €4.0B
FY23 €4.3B
FY24 €4.8B
FY25 €4.9B
Net income
FY21 −€43.0M
FY22 −€88.0M
FY23 €60.8M
FY24 €146M
FY25 €248M

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Cite: Fair Value Calculator (2026). "Banijay Group Fair Value". https://www.fairvalue-calculator.com/stock/BNJ

Peer Group

Entertainment · 267 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 60 · Top 25%
Fair Value upside +43% · Top 25%
Return on equity (TTM) 187% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 11% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 4.0% · Above median
Debt / equity 22.82× · Higher than 75% of peers

Valuation Multiples vs Entertainment median · lower = cheaper

P/E (TTM) 15.1× · Cheaper than median
P/B 32.40× · Pricier than 75% of peers
P/S (TTM) 0.85× · Cheaper than median
P/FCF 8.1× · Pricier than median
EV/EBITDA 8.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 91 · sector 9
FUTURE 29 · sector 10
PAST 100 · sector 0
HEALTH 0 · sector 97
DIVIDEND 79 · sector 44

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.77 C$2.96 -56%
The Walt Disney Company DIS $96.30 $89.55 -7%
Warner Bros. Discovery, Inc WBD $26.87 $9.13 -66%
Live Nation Entertainment, Inc LYV $178.44 $46.89 -74%
Universal Music Group UMG €18.91 €14.78 -22%
TKO Group TKO $184.40 $22.16 -88%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 60.49 MXN +10%
Beijing Enlight Media Co 300251 ¥11.77 ¥10.97 -7%
PT MNC Digital Entertainment Tbk, MSIN 456.00 IDR 221.09 IDR -52%
Prime Focus Limited PFOCUS ₹298.25 ₹63.45 -79%

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Frequently asked questions

Is Banijay Group (BNJ) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €12.87 versus a price of €8.98, about +43% (undervalued).
What is the fair value of BNJ?
Our model-based fair value for Banijay Group is €12.87 (as of Jul 19, 2026), built from audited fundamentals. The current price is €8.98.
What is the quality score of BNJ?
Banijay Group has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Banijay Group (BNJ)?
Banijay Group reported trailing-twelve-month revenue of about €4.9B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of BNJ?
The net profit margin of Banijay Group is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does Banijay Group pay a dividend?
Banijay Group currently shows a dividend yield of about 4.03% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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