TX Group AG (TXGN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of TX Group AG stock CHF 76.93, price CHF 188, that is 59.0% below the price, quality 62 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range CHF 71.75 – CHF 227.47 · fair‑value band CHF 67.57 – CHF 85.30 · the CHF 187.60 price screens above the CHF 76.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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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.
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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.
Stock analysis
TX Group AG (TXGN) currently trades at CHF 187.60, while our model-based Fair Value estimate is CHF 76.93, 59% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of CHF 156.99 per share, and 0 of the 24 models we run sit above the CHF 187.60 price.
Bear case: the Dividend Discount group reads lowest at CHF 12.60, and 24 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: CHF 67.57 (bear) to CHF 85.30 (bull), the price of CHF 187.60 sits above 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 62/100 (solid 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.
TX Group AG 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.
Key figures
Market cap CHF 1.9B Mid · P/S ratio 2.22 · EPS (TTM) CHF −0.8600 · Dividend yield 2.1% · Net margin −1.0% · Return on equity 0.7% · Return on assets (EBIT) 0.9% (5-year average) · Operating margin 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −3% fair-value upside, at −59%, TXGN screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (CHF 5.57 to CHF 156.99). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
BearCHF 67.57Fair Value CHF 76.93BullCHF 85.30
Price CHF 187.60 · Downside -59.0%
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 DCFCHF 49.66CHF 66.98CHF 99.5279
Growth DCFCHF 51.73CHF 68.60CHF 97.8878
Owner EarningsCHF 48.96CHF 65.99CHF 98.0076
All 24 models by family
DCF Models
FCF DCFCHF 49.66CHF 66.98CHF 99.5279
Owner EarningsCHF 48.96CHF 65.99CHF 98.0076
5Y Revenue ExitCHF 24.41CHF 26.48CHF 29.3873
5Y EBITDA ExitCHF 40.85CHF 54.96CHF 73.6675
5Y P/E ExitCHF 30.44CHF 36.92CHF 44.8071
10Y Revenue ExitCHF 33.79CHF 36.22CHF 38.2567
10Y EBITDA ExitCHF 43.92CHF 53.99CHF 64.4969
10Y P/E ExitCHF 37.54CHF 42.74CHF 47.3964
Earnings-Based
Graham-DoddCHF 5.69CHF 6.96CHF 7.8367
EPVCHF 8.09CHF 8.30CHF 8.4873
Dividend Discount
Gordon GGMCHF 10.68CHF 11.71CHF 13.2869
DDM Multi-StageCHF 10.68CHF 13.49CHF 17.4767
Multiples
P/E MultipleCHF 13.81CHF 18.42CHF 23.0263
P/S MultipleCHF 10.67CHF 14.23CHF 17.7957
P/B MultipleCHF 107.46CHF 143.28CHF 179.1055
EV/EBITCHF 5.32CHF 6.32CHF 7.3365
EV/EBITDACHF 35.73CHF 46.87CHF 58.0267
EV/RevenueCHF 4.59CHF 5.57CHF 6.5553
Asset-Based
NCAV (Graham)CHF 103.61CHF 156.99CHF 196.2354
Growth DCF
Growth DCFCHF 51.73CHF 68.60CHF 97.8878
Rev-Margin DCFCHF 24.41CHF 27.47CHF 31.8673
Economic Profit
Residual IncomeCHF 132.93CHF 139.35CHF 148.7876
ROIC CompounderCHF 8.09CHF 8.30CHF 8.4871
Growth Earnings
Growth-Adj P/ECHF 9.74CHF 13.91CHF 18.0867
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.3%
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.
−1.8%
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.
−1.3%
Start year 2020 (pandemic). Over 10 years: −2.0% a year
Revenue growth 23 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.
+1.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−52.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−54.2%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−54.2% vs −24.5%, slowing
Profit margin 2020 to 2025 ⓘ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.−8% → 1%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.2%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −7.8% a year for the price.
Price, fair value, quality and upside side by side.
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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.Publishing · 98 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−59.0% · Bottom 25%
Profitability
Return on equity (12 months)0.7% · Bottom 25%
Return on assets1.1% · Below median
Net margin (12 months)−4.3% · Bottom 25%
Operating margin (12 months)4.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−5.7% · Below median
Dividend yield (12 months)2.1% · Below median
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Publishing median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "TX Group AG Fair Value". https://www.fairvalue-calculator.com/stock/TXGN
Frequently asked questions
Is TX Group AG (TXGN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of CHF 76.93 versus a price of CHF 187.60, about 59% lower (overvalued).
What is the fair value of TXGN?
Our model-based fair value for TX Group AG is CHF 76.93 (as of Nov 7, 2026), built from audited fundamentals. The current price: CHF 187.60.
What is the quality score of TXGN?
TX Group AG 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 price target for TX Group AG (TXGN)?
Our model-based price target is the fair value of CHF 76.93 (as of Nov 7, 2026) from 24 valuation models. Cautious scenario CHF 67.57, optimistic scenario CHF 85.30. It is a calculation from audited fundamentals, not an analyst target.
What is the TX Group AG stock forecast for 2026?
Our models put fair value at CHF 76.93, about 59% lower versus a price of CHF 187.60 (overvalued). Cautious scenario CHF 67.57, optimistic scenario CHF 85.30. The calculation is refreshed regularly with new filings.
What is the revenue of TX Group AG (TXGN)?
TX Group AG reported trailing-twelve-month revenue of about CHF 849M (latest available figure, as of Nov 7, 2026).
Does TX Group AG pay a dividend?
TX Group AG currently shows a dividend yield of 2.13% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of TX Group AG (TXGN) and when is the ex-dividend date?
TX Group AG pays a dividend of CHF 4.00 per share a year, a dividend yield of 2.1%. The last ex-dividend date was Apr 14, 2026. A dividend has been paid every year since 2022. Free cash flow covers the dividend 4.42 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into TX Group AG (TXGN)?
For today's price to be fair in a discounted-cash-flow model, TX Group AG would have to grow free cash flow by -7.2 % per year for five years (discount rate 8.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of TXGN use?
Our models discount TX Group AG at 8.8 %: a base by market capitalisation (mid), damped by beta 0.70, country premium for Switzerland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For TX Group AG that is -7.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.8 %) and the same formula as our fair value.
How much growth has TX Group AG (TXGN) delivered so far?
Over the past 5 years revenue at TX Group AG grew -1.3 % a year. The price currently implies free-cash-flow growth of -7.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of TX Group AG (TXGN) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into TX Group AG (-7.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TX Group AG (TXGN)?
The free-cash-flow yield on the price is 9.43 %: that much free cash flow TX Group AG produces per unit of market value. When it exceeds the discount rate of our models (8.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TX Group AG (TXGN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TX Group AG it is CHF 76.93 per share (as of Nov 7, 2026), against a price of CHF 187.60. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is TX Group AG stock overvalued or undervalued in 2026?
As of Nov 7, 2026, TXGN trades above its calculated fair value: price CHF 187.60, fair value CHF 76.93, a gap of about −59% (overvalued). 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 TXGN?
No. The price is what the market pays today (CHF 187.60); the fair value is what the company's own numbers justify (CHF 76.93). For TX Group AG the two are CHF 110.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is TX Group AG worth?
The market values TX Group AG at about CHF 1.9B (market capitalisation, as of Nov 7, 2026). Per share that is CHF 187.60; our models calculate a fair value of CHF 76.93 per share.
What do the bullish and bearish scenarios say about TXGN?
Our models span a range for TX Group AG: cautious scenario CHF 67.57, base CHF 76.93, optimistic CHF 85.30 per share (as of Nov 7, 2026, price CHF 187.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TXGN?
The PEG ratio of TX Group AG is 0.85 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of TX Group AG (TXGN)?
Balance-sheet figures for TX Group AG (as of Nov 7, 2026): return on equity 0.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is TXGN from its 52-week high?
TX Group AG trades at CHF 187.60, about 3% below its 52-week high of CHF 192.80 and 54% above the low of CHF 121.80 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 76.93 is for.
Which stocks are comparable to TX Group AG?
From the same area (Communication Services) we also value The New York Times Company, Xinhua Winshare Publishing and Media Co, Jiangsu Phoenix Publishing & Media Corporation, China Science Publishing & Media Ltd, 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 TX Group AG stock attractive at the current price?
The data as of Nov 7, 2026: price CHF 187.60, calculated fair value CHF 76.93 (−59%), Quality Score 62/100, from 24 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 TXGN calculated?
We run TX Group AG through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 76.93 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. TX Group AG itself currently trades above fair value. 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 TX Group AG (TXGN)?
The closing price on Nov 6, 2026 was CHF 187.60. Our model-based fair value is CHF 76.93, about 59% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TX Group AG right now?
The price sits above even our optimistic bull case (CHF 85.30). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of TX Group AG (TXGN) come from?
Earnings per share at TX Group AG grew −23.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.3 %, EBIT margin −11.6 %, tax rate −4.6 %, residual (interest, one-offs) −8.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of TX Group AG
How large is the market capitalisation of TX Group AG (TXGN)?
The market capitalisation of TX Group AG is CHF 1.9B. 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/S ratio of TX Group AG (TXGN)?
The price-to-sales ratio of TX Group AG is 2.22 (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 TX Group AG (TXGN)?
Earnings per share at TX Group AG are CHF −0.8600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TX Group AG (TXGN)?
The dividend yield of TX Group AG is 2.1%. 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 TX Group AG (TXGN)?
The net margin of TX Group AG is −1.0% (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 TX Group AG (TXGN)?
The return on equity (ROE) of TX Group AG is 0.7% (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 TX Group AG (TXGN)?
On an EBIT basis the return on assets of TX Group AG is 0.9% (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 TX Group AG (TXGN)?
The operating margin of TX Group AG is 4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TX Group AG (TXGN)?
Revenue at TX Group AG is growing −5.7% versus a year earlier (3y avg −1.8%). 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 TX Group AG (TXGN)?
Earnings per share at TX Group AG are growing +189% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does TX Group AG (TXGN) hold?
TX Group AG holds more cash than debt, CHF 101M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026