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Prosiebensat 1 Media AG (PSM) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Prosiebensat 1 Media AG stock €7.78, price €3.26, upside +138.7%, quality 49 out of 100. Rating: strongly undervalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.

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Communication Services DE · ISIN DE000PSM7770

P1 Prosiebensat 1 Media AG logo Some data Nov 6, 2026

Prosiebensat 1 Media AG

PSM · XETRA
Cheap, value-trap risk

The stock costs 58% less than our calculation considers fair.

Fair value €7.78 · Strongly undervalued (58%)
Generates free cash flow
3.1% dividend yield · Cash covered
Even on cautious assumptions the value is 26% above the price (€4.11).
Quality 49/100
Moderate debt
Mixed vs. peers (5/12)
Some data
Weak Growth (revenue 5y −1.9 %/yr in EUR)
Loss-making · -2.4% net margin (TTM)
Narrow moat 19/100 · thin data
⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€14.91 €3.11 Fair Value €7.78 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range €3.11 – €14.91 · fair‑value band €4.11 – €11.46 · the €3.26 price screens below the €7.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.

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Company profile

ProSiebenSat.1 Media SE operates as a media company in Germany, Austria, Switzerland, the United States, and internationally. It operates through three segments: Entertainment, Dating & Video, and Commerce & Ventures.

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The Entertainment segment operates free TV channels and digital platforms, such as SAT.1, ProSieben, Kabel Eins, sixx, SAT.1 Gold, ProSieben MAXX, and Kabel Eins Doku, as well as PULS4, PULS24, ATV I, ATV II, and PLUS 8. This segment is involved in operating commercial websites; production and distribution programming portfolio, including entertainment, reality, and factual formats, as well as TV series, TV films, and digital content; and operates Studio71 which creates and sells digital offerings for influencers.

Its Dating & Video segment engages in online matchmaking services for online dating and entertainment under Parship, ElitePartner, eharmony, LOVOO help singles brand names.

This segment provides video-based social entertainment applications, such as MeetMe, Skout, Tagged, and GROWLr content for users.

The Commerce & Ventures segment bundles investments in digital commerce companies, offering a flexible investment model using media-for-revenue and media-for-equity deals, and includes consumer-focused businesses such as online beauty provider flaconi, car rental comparison portal FLOYT Mobility, and experience provider Jochen Schweizer mydays.

This segment involves operating Marktguru and wetter.com. The compny was founded in 1984 and is headquartered in Unterföhring, Germany. ProSiebenSat.1 Media SE operates as a subsidiary of MFE-Mediaforeurope N.V.

Stock analysis

Prosiebensat 1 Media AG (PSM) currently trades at €3.26, while our model-based Fair Value estimate is €7.78, implying the stock looks roughly 58% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €30.53 per share, and 12 of the 12 models we run sit above the €3.26 price.

Bear case: the Earnings-Based group reads lowest at €4.18, and 0 of the 12 models stay below the price. Data coverage for this calculation is medium.

Scenario range: €4.11 (bear) to €11.46 (bull), the price of €3.26 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 49/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Prosiebensat 1 Media AG reported revenue of €3.7B in FY2025 versus €4.5B in FY2021, a compound −4.9%/yr. Reported net income was −€169M in FY2025.

Key figures

Market cap €759M Small · P/E ex one-offs 3.6 · P/S ratio 0.21 · EPS (TTM) €−0.3700 · Dividend yield 3.1% · Net margin −2.4% · Return on equity −7.0% · Return on assets (EBIT) 3.2% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (low confidence).

What moves the price

The share trades about 35% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 6% fair-value upside, at 139%, PSM screens cheaper than that median.

Fair Value models

Bear €4.11 Fair Value €7.78 Bull €11.46
Price €3.26 · Upside +138.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF €30.99 €39.62 €54.43 81
Growth DCF €31.77 €39.96 €52.91 80
5Y EBITDA Exit €19.63 €25.78 €34.00 76
All 12 models by family
DCF Models
FCF DCF €30.99 €39.62 €54.43 81
5Y Revenue Exit €16.39 €20.28 €25.93 74
5Y EBITDA Exit €19.63 €25.78 €34.00 76
10Y Revenue Exit €22.54 €26.68 €30.89 68
10Y EBITDA Exit €24.50 €29.91 €35.61 70
Earnings-Based
EPV €3.36 €4.18 €4.86 74
Multiples
EV/EBIT €4.11 €7.78 €11.46 63
EV/EBITDA €8.77 €14.00 €19.23 66
EV/Revenue €1.44 €5.03 €8.61 49
Growth DCF
Growth DCF €31.77 €39.96 €52.91 80
Rev-Margin DCF €16.39 €21.10 €27.54 74
Economic Profit
ROIC Compounder €3.36 €4.18 €4.86 72

Open the full fair value analysis →

Quality Score breakdown

Overall quality 49/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 19
How much profit the company makes from its sales and capital
Quality Growth 17
Are margins and returns getting better?
Cashflow 93
Do the profits arrive as real cash?
Financial strength 19
Debt, balance sheet and risk of trouble
Investment 95
Does it invest with discipline instead of growing at any price?
Low Volatility 57
How calm the share price moves, does not count
Price momentum 17
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 72
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−6.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.9%
Start year 2020 (pandemic). Over 10 years: +1.2% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
13.7% (2020) → 5.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Broadcasting · 62 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside +138.7% · Top 25%
Profitability
Return on assets −3.4% · Bottom 25%
Net margin (12 months) −2.4% · Below median
Operating margin (12 months) 5.2% · Above median
Growth and dividend
Revenue growth (quarter YoY) −8.6% · Bottom 25%
Dividend yield (12 months) 3.1% · Below median
Balance sheet
Debt / equity 1.07× · Highest 25%

Valuation Multiplesvs Broadcasting median · lower = cheaper

P/B 0.66× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 0.22× · Cheapest 25%
Price / free cash flow (fiscal year) 0.8× · Cheapest 25%
EV/EBITDA 3.9× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 59
FUTURE (revenue growth)0 · sector 15
PAST (return on equity)0 · sector 9
HEALTH (low debt)47 · sector 95
DIVIDEND (yield)61 · sector 79

Context: sector, industry, market

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

Similar stocks

10 more Broadcasting stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
MFE-Mediaforeurope N.V MFEA €2.18 €4.87 +123% vs PSM
SES S.A SESG €4.50 €9.90 +120% vs PSM
Métropole Télévision S.A MMT €11.30 €15.98 +41% vs PSM
Nexstar Media Group NXST $190.02 $206.77 +9% vs PSM
Sinclair, Inc SBGI $13.68 $14.49 +6% vs PSM
Sun TV Network Limited SUNTV ₹595.45 ₹586.58 −1% vs PSM
Beijing Gehua Catv Network Co 600037 ¥6.70 ¥4.26 −36% vs PSM
Jiangsu Broadcasting Cable Information Network Corporation 600959 ¥3.23 ¥1.72 −47% vs PSM
MBC Group 4072 17.50 SAR 8.97 SAR −49% vs PSM
Guizhou BC&TV Information Network CO.,LTD 600996 ¥6.50 ¥1.23 −81% vs PSM

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Prosiebensat 1 Media AG: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Prosiebensat 1 Media AG Fair Value". https://www.fairvalue-calculator.com/stock/PSM

Frequently asked questions

Is Prosiebensat 1 Media AG (PSM) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of €7.78 versus a price of €3.26, about +139% upside (undervalued).
What is the fair value of PSM?
Our model-based fair value for Prosiebensat 1 Media AG is €7.78 (as of Nov 6, 2026), built from audited fundamentals. The current price: €3.26.
What is the quality score of PSM?
Prosiebensat 1 Media AG has a Quality Score of 49/100. 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 price target for Prosiebensat 1 Media AG (PSM)?
Our model-based price target is the fair value of €7.78 (as of Nov 6, 2026) from 12 valuation models. Cautious scenario €4.11, optimistic scenario €11.46. It is a calculation from audited fundamentals, not an analyst target.
What is the Prosiebensat 1 Media AG stock forecast for 2026?
Our models put fair value at €7.78, about +139% upside versus a price of €3.26 (undervalued). Cautious scenario €4.11, optimistic scenario €11.46. The calculation is refreshed regularly with new filings.
What is the revenue of Prosiebensat 1 Media AG (PSM)?
Prosiebensat 1 Media AG reported trailing-twelve-month revenue of about €3.5B (latest available figure, as of Nov 6, 2026).
Does Prosiebensat 1 Media AG pay a dividend?
Prosiebensat 1 Media AG currently shows a dividend yield of 3.07% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Prosiebensat 1 Media AG (PSM) and when is the ex-dividend date?
Prosiebensat 1 Media AG pays a dividend of €0.1 per share a year, a dividend yield of 3.1%. The last ex-dividend date was May 29, 2026. A dividend has been paid every year since at least 1998. Free cash flow covers the dividend 38.66 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What is the intrinsic value of Prosiebensat 1 Media AG (PSM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Prosiebensat 1 Media AG it is €7.78 per share (as of Nov 6, 2026), against a price of €3.26. It is the blended result of 12 valuation models in 5 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit).
Is Prosiebensat 1 Media AG stock overvalued or undervalued in 2026?
As of Nov 6, 2026, PSM trades below its calculated fair value: price €3.26, fair value €7.78, a gap of about +139% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PSM?
No. The price is what the market pays today (€3.26); the fair value is what the company's own numbers justify (€7.78). For Prosiebensat 1 Media AG the two are €4.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is Prosiebensat 1 Media AG worth?
The market values Prosiebensat 1 Media AG at about €759M (market capitalisation, as of Nov 6, 2026). Per share that is €3.26; our models calculate a fair value of €7.78 per share.
What do the bullish and bearish scenarios say about PSM?
Our models span a range for Prosiebensat 1 Media AG: cautious scenario €4.11, base €7.78, optimistic €11.46 per share (as of Nov 6, 2026, price €3.26). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Prosiebensat 1 Media AG (PSM)?
Balance-sheet figures for Prosiebensat 1 Media AG (as of Nov 6, 2026): return on equity −7.0%, debt of 1.07 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is PSM from its 52-week high?
Prosiebensat 1 Media AG trades at €3.26, about 35% below its 52-week high of €4.98 and 5% above the low of €3.11 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €7.78 is for.
Which stocks are comparable to Prosiebensat 1 Media AG?
From the same area (Communication Services) we also value Nexstar Media Group, Sun TV Network Limited, Jiangsu Broadcasting Cable Information Network Corporation, SES S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Prosiebensat 1 Media AG stock attractive at the current price?
The data as of Nov 6, 2026: price €3.26, calculated fair value €7.78 (+139%), Quality Score 49/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PSM calculated?
We run Prosiebensat 1 Media AG through 12 models from 5 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of €7.78 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Prosiebensat 1 Media AG currently trades 58% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Prosiebensat 1 Media AG (PSM)?
The closing price on Nov 6, 2026 was €3.26. Our model-based fair value is €7.78, about +139% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Prosiebensat 1 Media AG right now?
The large discount to fair value meets weak quality (49/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€4.11). The market is more pessimistic than our downside scenario. The model range is unusually wide (€4.11 to €11.46). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Key figures of Prosiebensat 1 Media AG

How large is the market capitalisation of Prosiebensat 1 Media AG (PSM)?
The market capitalisation of Prosiebensat 1 Media AG is €759M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Prosiebensat 1 Media AG (PSM) excluding one-off items?
Excluding one-off items, the price-to-earnings ratio of Prosiebensat 1 Media AG is 3.6 (fiscal year 2025, the reported result was a loss, median at FY-end 14.0 (9 FY)).
What is the P/S ratio of Prosiebensat 1 Media AG (PSM)?
The price-to-sales ratio of Prosiebensat 1 Media AG is 0.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Prosiebensat 1 Media AG (PSM)?
Earnings per share at Prosiebensat 1 Media AG are €−0.3700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Prosiebensat 1 Media AG (PSM)?
The dividend yield of Prosiebensat 1 Media AG is 3.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Prosiebensat 1 Media AG (PSM)?
The net margin of Prosiebensat 1 Media AG is −2.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Prosiebensat 1 Media AG (PSM)?
The return on equity (ROE) of Prosiebensat 1 Media AG is −7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Prosiebensat 1 Media AG (PSM)?
On an EBIT basis the return on assets of Prosiebensat 1 Media AG is 3.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Prosiebensat 1 Media AG (PSM)?
The operating margin of Prosiebensat 1 Media AG is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Prosiebensat 1 Media AG (PSM)?
Revenue at Prosiebensat 1 Media AG is growing −8.6% versus a year earlier (3y avg −4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Prosiebensat 1 Media AG (PSM)?
Earnings per share at Prosiebensat 1 Media AG are growing +1,000% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Prosiebensat 1 Media AG (PSM) generate?
The free cash flow of Prosiebensat 1 Media AG is €900M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Prosiebensat 1 Media AG (PSM) carry?
The net debt of Prosiebensat 1 Media AG is €1.6B (fiscal year 2025, ≈ 1.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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