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TX Group (TXGN) Fair Value & Analysis

Communication Services · CH · Market cap CHF 1.4B

TG TX Group TXGN · SW
PriceCHF 150.40
Fair ValueCHF 81.31
Upside-45.9%
Quality62/100
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Weak Growth
Thin margins · 1.0% net margin
Low debt · generates free cash flow
3.02% dividend yield
Mixed vs. peers (6/15)
Narrow moat 27/100
Evidence: Medium Range CHF 74.79 – CHF 91.13 Share as image

Fair value as of: Jul 13, 2026

From 24 valuation models · updated 27 days ago

Fair value updated Jul 13, 2026, revised from CHF 45.01 to CHF 81.31 (+80.6%) since Jun 24, 2026. Share price +15.2% over the past month.

A solid business, but screening 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (CHF 91.13). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

CHF 227.47 CHF 66.94 Fair Value CHF 81.31 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range CHF 66.94 – CHF 227.47 · fair‑value band CHF 74.79 – CHF 91.13 · the CHF 150.40 price screens above the CHF 81.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

TX Group (TXGN) currently trades at CHF 150.40, while our model-based Fair Value estimate is CHF 81.31, implying the stock looks roughly 45.9% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, TX Group generated revenue of CHF 873M at a net margin of 1.0%. Revenue declined 7.1% year over year. It earns a return on equity of 1.4%. The balance sheet holds a net cash position of CHF 101M. Fundamentals as of Jul 13, 2026

Our scenario range runs from CHF 74.79 (bear case) to CHF 91.13 (bull case); at CHF 150.40, the current price sits above 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 34% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at -46%, TXGN screens richer 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 CHF 177.42 CHF 218.74 CHF 282.76 80
Residual Income CHF 138.82 CHF 126.76 CHF 78.99 76
Rev-Margin DCF CHF 97.24 CHF 108.92 CHF 125.64 74
All 24 models by family
DCF Models
FCF DCF CHF 172.78 CHF 216.36 CHF 289.49 38
Owner Earnings CHF 148.61 CHF 184.85 CHF 245.66 31
5Y Revenue Exit CHF 97.24 CHF 105.14 CHF 116.19 39
5Y EBITDA Exit CHF 160.64 CHF 214.78 CHF 286.50 41
5Y P/E Exit CHF 98.86 CHF 107.94 CHF 119.39 38
10Y Revenue Exit CHF 129.73 CHF 138.31 CHF 145.43 36
10Y EBITDA Exit CHF 165.13 CHF 200.21 CHF 236.65 37
10Y P/E Exit CHF 130.85 CHF 139.89 CHF 147.15 35
Earnings-Based
Graham-Dodd CHF 5.69 CHF 6.96 CHF 7.83 54
EPV CHF 33.52 CHF 34.11 CHF 34.59 59
Dividend Discount
Gordon GGM CHF 37.74 CHF 40.68 CHF 45.06 70
DDM Multi-Stage CHF 37.74 CHF 44.92 CHF 54.19 61
Multiples
P/E Multiple CHF 13.81 CHF 18.42 CHF 23.02 63
P/S Multiple CHF 10.67 CHF 14.23 CHF 17.79 58
P/B Multiple CHF 10.67 CHF 14.23 CHF 17.79 55
EV/EBIT CHF 42.09 CHF 46.37 CHF 50.66 53
EV/EBITDA CHF 171.51 CHF 218.94 CHF 266.36 54
EV/Revenue CHF 38.98 CHF 43.16 CHF 47.34 43
Asset-Based
NCAV (Graham) CHF 109.38 CHF 146.56 CHF 218.75 50
Growth DCF
Growth DCF CHF 177.42 CHF 218.74 CHF 282.76 80
Rev-Margin DCF CHF 97.24 CHF 108.92 CHF 125.64 74
Economic Profit
Residual Income CHF 138.82 CHF 126.76 CHF 78.99 76
ROIC Compounder CHF 33.52 CHF 34.11 CHF 34.59 72
Growth Earnings
Growth-Adj P/E CHF 9.74 CHF 13.91 CHF 18.08 68

Widest divergence: Asset-Based (CHF 146.56) versus Earnings-Based (CHF 6.96). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 873M
Revenue growth (YoY) -7.1%
Net margin 1.0%
Return on equity 1.4%
Free cash flow CHF 182M FY2025
P/E ratio 156.4
More key figures
Operating margin 4.5%
EPS (TTM) CHF 0.8300
Dividend yield 3.1%
EPS growth (YoY) +18,934%
Net cash CHF 101M FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 44

Profitability 15
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 94
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

TX Group AG operates a network of platforms and participations that provides users with information, orientation, entertainment, and other services in Switzerland. It operates through five segments: TX Markets, Goldbach, 20 Minuten, Tamedia, and Group & Ventures.

Full company description

TX Group AG operates a network of platforms and participations that provides users with information, orientation, entertainment, and other services in Switzerland. It operates through five segments: TX Markets, Goldbach, 20 Minuten, Tamedia, and Group & Ventures. The company operates platforms in the areas of real estate, automotive, marketplaces, and finance and insurance services, as well as operates JobCloud, a job portal. It also provides advertising marketing in the areas of TV, OOH, radio, online, mobile and performance marketing. In addition, the company offers daily newspapers, magazines, and publishing services. Further, the company provides news through news media outlets; Zattoo; and Doodle, as well as fintech area platforms. The company was formerly known as Tamedia AG and changed its name to TX Group AG in January 2020. TX Group AG was founded in 1893 and is based in Zurich, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TX Group reported revenue of CHF 872M in FY2025 versus CHF 952M in FY2021, a compound −2.2%/yr. Reported net income was CHF 8.6M in FY2025, compounding −67.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
CHF 872M
Latest YoY
−7.3%
Avg. growth/yr (3Y)
−1.8%
Avg. growth/yr (5Y)
−1.3%
Avg. growth/yr (23Y)
+1.4%
Revenue −2.2%/yr
FY21 CHF 952M
FY22 CHF 922M
FY23 CHF 983M
FY24 CHF 941M
FY25 CHF 872M
Net income −67.8%/yr
FY21 CHF 802M
FY22 −CHF 44.0M
FY23 CHF 24.4M
FY24 −CHF 3.2M
FY25 CHF 8.6M

TXGN screens 46% overvalued. Compare with The New York Times Company →

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

Peer Group

Publishing · 110 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 62 · Above median
Fair Value upside −46% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth -7% · Below median
Dividend yield (TTM) 3.0% · Above median
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 164.6× · Pricier than 75% of peers
P/B 0.76× · Cheaper than median
P/S (TTM) 1.97× · Pricier than 75% of peers
P/FCF 9.4× · Pricier than 75% of peers
EV/EBITDA 16.0× · Pricier than 75% of peers
PEG 0.85× · 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 0 · sector 39
FUTURE 0 · sector 0
PAST 6 · sector 21
HEALTH 100 · sector 99
DIVIDEND 60 · sector 57

VALUE 0: the price sits above our fair-value range.

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.

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Frequently asked questions

Is TX Group (TXGN) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of CHF 81.31 versus a price of CHF 150.40, about −46% (overvalued).
What is the fair value of TXGN?
Our model-based fair value for TX Group is CHF 81.31 (as of Jul 13, 2026), built from audited fundamentals. The current price is CHF 150.40.
What is the quality score of TXGN?
TX Group has a Quality Score of 62/100. 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 TX Group (TXGN)?
TX Group reported trailing-twelve-month revenue of about CHF 873M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of TXGN?
The net profit margin of TX Group is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
Does TX Group pay a dividend?
TX Group currently shows a dividend yield of about 3.11% relative to its recent price (as of Jul 13, 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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