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TF1 SA (TFI) Fair Value & Analysis

Communication Services · FR · Market cap €1.4B

TS TF1 SA TFI · PA
Price€7.01
Fair Value€12.53
Upside+78.9%
Quality53/100
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Mixed Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
9.21% dividend yield
Ranks above peers (9/15)
Narrow moat 37/100
Evidence: High Range €9.33 – €17.38 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Share price +4.2% over the past month.

A solid business, screening 79% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€9.33). The market is more pessimistic than our downside scenario.
  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€9.33 to €17.38) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€8.19 €4.27 Fair Value €12.53 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €4.27 – €8.19 · fair‑value band €9.33 – €17.38 · the €7.01 price screens below the €12.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

TF1 SA (TFI) currently trades at €7.01, while our model-based Fair Value estimate is €12.53, implying the stock looks roughly 78.9% undervalued today. The Quality Score stands at 53/100 (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, TF1 SA generated revenue of €2.2B at a net margin of 6.3%. Revenue declined 9.3% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of €461M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €9.33 (bear case) to €17.38 (bull case); at €7.01, 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 share trades about 15% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 12% fair-value upside, at 79%, TFI 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 €7.09 €8.12 €9.81 80
Residual Income €7.65 €8.02 €8.23 76
Rev-Margin DCF €9.09 €12.32 €16.32 74
All 24 models by family
DCF Models
FCF DCF €6.98 €8.06 €9.99 38
Owner Earnings €11.70 €14.07 €18.36 31
5Y Revenue Exit €9.09 €12.22 €16.89 39
5Y EBITDA Exit €17.60 €26.73 €39.07 41
5Y P/E Exit €10.64 €14.86 €20.00 38
10Y Revenue Exit €7.95 €10.25 €12.85 36
10Y EBITDA Exit €12.89 €18.80 €25.51 37
10Y P/E Exit €9.00 €11.80 €14.62 35
Earnings-Based
Graham-Dodd €4.94 €7.37 €8.75 54
EPV €7.91 €8.57 €9.11 59
Dividend Discount
Gordon GGM €4.68 €5.26 €5.93 70
DDM Multi-Stage €4.68 €5.79 €7.08 61
Multiples
P/E Multiple €11.99 €15.98 €19.98 63
P/S Multiple €9.26 €12.35 €15.44 58
P/B Multiple €9.26 €12.35 €15.44 55
EV/EBIT €13.97 €17.59 €21.21 53
EV/EBITDA €29.38 €38.13 €46.89 54
EV/Revenue €11.35 €14.87 €18.40 43
Asset-Based
NCAV (Graham) €4.89 €6.56 €9.79 50
Growth DCF
Growth DCF €7.09 €8.12 €9.81 80
Rev-Margin DCF €9.09 €12.32 €16.32 74
Economic Profit
Residual Income €7.65 €8.02 €8.23 76
ROIC Compounder €7.91 €8.57 €9.11 72
Growth Earnings
Growth-Adj P/E €8.45 €12.07 €15.69 68

Widest divergence: Multiples (€14.87) versus Dividend Discount (€5.26). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €2.2B
Revenue growth (YoY) -9.3%
Net margin 6.3%
Return on equity 7.3%
Free cash flow €98.3M FY2025
P/E ratio 10.2
More key figures
Operating margin 2.0%
EPS (TTM) €0.6700
Dividend yield 9.2%
EPS growth (YoY) -71.4%
Net cash €461M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 54 · Market factors (momentum, volatility) 49

Profitability 34
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 81
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

TF1 SA operates as a media and entertainment company, primarily engages in television broadcasting, content creation, and distribution of audiovisual rights in France, Continental Europe, and internationally. The company operates through two segments, Media and Studio TF1.

Full company description

TF1 SA operates as a media and entertainment company, primarily engages in television broadcasting, content creation, and distribution of audiovisual rights in France, Continental Europe, and internationally. The company operates through two segments, Media and Studio TF1. The Media segment includes TV channels and content creation activities, the TF1+ free streaming platform, and produces and acquires audiovisual rights for TV channels in line with French broadcasting industry regulations. This segment engages in the sale of advertising space through individually negotiated space-buying deals and programmatic ad sale auctions; and making content and services. The Studio TF1 segment produces, acquires, develops, and distributes audiovisual rights, such as films, drama, TV movies, cartoons, documentaries, unscripted shows, etc. TF1 SA was incorporated in 1982 and is based in Boulogne-Billancourt, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TF1 SA reported revenue of €2.3B in FY2025 versus €2.4B in FY2021, a compound −1.4%/yr. Reported net income was €153M in FY2025, compounding −9.3%/yr from FY2021.

Growth Quality 51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€2.3B
Latest YoY
−2.5%
Avg. growth/yr (3Y)
−2.9%
Avg. growth/yr (5Y)
+2.0%
Avg. growth/yr (21Y)
−1.0%
Revenue −1.4%/yr
FY21 €2.4B
FY22 €2.5B
FY23 €2.3B
FY24 €2.4B
FY25 €2.3B
Net income −9.3%/yr
FY21 €225M
FY22 €176M
FY23 €192M
FY24 €206M
FY25 €153M

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Cite: Fair Value Calculator (2026). "TF1 SA Fair Value". https://www.fairvalue-calculator.com/stock/TFI

Peer Group

Broadcasting · 69 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 53 · Above median
Fair Value upside +79% · Top 25%
Return on equity (TTM) 7% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth -9% · Below median
Dividend yield (TTM) 9.2% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Broadcasting median · lower = cheaper

P/E (TTM) 10.2× · Cheaper than 75% of peers
P/B 0.81× · Pricier than median
P/S (TTM) 0.74× · Pricier than median
P/FCF 16.9× · Pricier than 75% of peers
EV/EBITDA 3.7× · Cheaper than 75% of peers
PEG 6.36× · Pricier than 75% of peers

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 100 · sector 36
FUTURE 0 · sector 0
PAST 29 · sector 3
HEALTH 99 · sector 96
DIVIDEND 100 · sector 47

Insider activity: 45/100

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 Broadcasting stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Nexstar Media Group NXST $183.71 $78.52 -57%
SES S.A SESG €7.46 €15.46 +107%
PT Elang Mahkota Teknologi Tbk, through its subsidiaries, EMTK 505.00 IDR 1,094 IDR +117%
MFE-Mediaforeurope N.V MFEB €3.64 €5.38 +48%
Jiangsu Broadcasting Cable Information Network Corporation 600959 ¥3.07 ¥1.14 -63%
Sun TV Network Limited SUNTV ₹489.20 ₹586.58 +20%
MBC Group 4072 20.06 SAR 19.56 SAR -2%
Beijing Gehua Catv Network Co 600037 ¥7.13 ¥3.64 -49%
PT Surya Citra Media Tbk, SCMA 206.00 IDR 229.91 IDR +12%
Zee Entertainment Enterprises Limited ZEEL ₹92.61 ₹53.22 -43%

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Frequently asked questions

Is TF1 SA (TFI) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €12.53 versus a price of €7.01, about +79% (undervalued).
What is the fair value of TFI?
Our model-based fair value for TF1 SA is €12.53 (as of Jul 18, 2026), built from audited fundamentals. The current price is €7.01.
What is the quality score of TFI?
TF1 SA has a Quality Score of 53/100. 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 TF1 SA (TFI)?
TF1 SA reported trailing-twelve-month revenue of about €2.2B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of TFI?
The net profit margin of TF1 SA is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does TF1 SA pay a dividend?
TF1 SA currently shows a dividend yield of about 9.24% relative to its recent price (as of Jul 18, 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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