What Vocento, S.A.'s (BME:VOC) 37% Share Price Gain Is Not Telling You
Mar 22
Spanish (IBEX) Media Industry Analysis
UpdatedApr 22, 2024
DataAggregated Company Financials
Companies5
- 7D1.6%
- 3M20.9%
- 1Y18.2%
- YTD22.8%
The Media industry is up 1.9% in the last week, with Atresmedia Corporación de Medios de Comunicación up 2.1%. This means that the industry has gained 18% over the past year. Looking forward, earnings are forecast to decline by 8.7% per year.
Industry Valuation and Performance
Has the Spanish Media Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 22 Apr 2024 | €1.4b | €1.7b | €182.5m | 18.4x | 7.6x | 0.8x |
| Wed, 20 Mar 2024 | €1.3b | €1.7b | €183.4m | 19.5x | 7.2x | 0.8x |
| Fri, 16 Feb 2024 | €1.2b | €1.7b | €122.3m | 18.7x | 9.7x | 0.7x |
| Sun, 14 Jan 2024 | €2.0b | €2.5b | €295.6m | 9.9x | 6.8x | 0.8x |
| Tue, 12 Dec 2023 | €2.0b | €2.5b | €295.6m | 10.2x | 6.8x | 0.8x |
| Thu, 09 Nov 2023 | €2.0b | €2.5b | €293.8m | 10.3x | 6.8x | 0.8x |
| Sat, 07 Oct 2023 | €2.0b | €2.5b | €293.5m | 11x | 6.8x | 0.8x |
| Mon, 04 Sep 2023 | €2.0b | €2.5b | €293.5m | 11.9x | 6.9x | 0.8x |
| Wed, 02 Aug 2023 | €2.1b | €2.5b | €293.5m | 12.5x | 7x | 0.8x |
| Fri, 30 Jun 2023 | €2.0b | €2.4b | €294.2m | 18.1x | 6.9x | 0.8x |
| Sun, 28 May 2023 | €2.0b | €2.4b | €294.2m | 18.2x | 6.9x | 0.8x |
| Tue, 25 Apr 2023 | €2.2b | €2.4b | €297.8m | 18.2x | 7.3x | 0.9x |
| Thu, 23 Mar 2023 | €2.1b | €2.4b | €298.9m | 17.6x | 6.9x | 0.9x |
| Sat, 18 Feb 2023 | €2.2b | €2.4b | €304.6m | 15.5x | 7.1x | 0.9x |
| Mon, 16 Jan 2023 | €2.2b | €2.4b | €304.6m | 14.3x | 7.2x | 0.9x |
| Wed, 14 Dec 2022 | €2.0b | €2.4b | €304.6m | 14x | 6.7x | 0.9x |
| Fri, 11 Nov 2022 | €2.0b | €2.4b | €308.7m | 22x | 6.4x | 0.8x |
| Sun, 09 Oct 2022 | €1.7b | €2.2b | €308.1m | 13.9x | 5.5x | 0.8x |
| Tue, 06 Sep 2022 | €1.8b | €2.2b | €308.1m | 14x | 5.9x | 0.8x |
| Thu, 04 Aug 2022 | €2.1b | €2.2b | €308.1m | 14.9x | 6.7x | 0.9x |
| Sat, 02 Jul 2022 | €2.4b | €2.1b | €312.3m | 6.8x | 7.6x | 1.1x |
| Mon, 30 May 2022 | €2.5b | €2.2b | €313.8m | 7.6x | 8x | 1.1x |
| Wed, 27 Apr 2022 | €2.6b | €2.2b | €316.7m | 11.3x | 8.2x | 1.2x |
| Fri, 25 Mar 2022 | €2.7b | €2.2b | €316.7m | 11.2x | 8.5x | 1.2x |
| Sun, 20 Feb 2022 | €2.5b | €2.2b | €254.7m | 24.5x | 10x | 1.1x |
| Tue, 18 Jan 2022 | €2.6b | €2.2b | €254.7m | 24.9x | 10.2x | 1.2x |
| Thu, 16 Dec 2021 | €2.4b | €2.2b | €252.9m | 34.5x | 9.4x | 1.1x |
| Sat, 13 Nov 2021 | €2.7b | €2.2b | €252.5m | 36.8x | 10.8x | 1.2x |
| Mon, 11 Oct 2021 | €2.8b | €2.2b | €256.7m | 37.6x | 10.9x | 1.3x |
| Wed, 08 Sep 2021 | €2.8b | €2.2b | €256.7m | 36.2x | 11x | 1.3x |
| Fri, 06 Aug 2021 | €2.8b | €2.2b | €256.7m | 36.1x | 10.9x | 1.3x |
| Mon, 10 May 2021 | €2.9b | €2.0b | €169.4m | 40.5x | 17x | 1.5x |
Price to Earnings Ratio
17x
Current Industry PE
- Investors are pessimistic on the Spanish Media industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 7.6x which is lower than its 3-year average PE of 8.5x.
- The 3-year average PS ratio of 1.0x is higher than the industry's current PS ratio of 0.83x.
Past Earnings Growth
- The earnings for companies in the Media industry have grown 2.5% per year over the last three years.
- Meanwhile revenues for these companies have declined 5.3% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Spanish Telecom industry?
| ES Market | 0.46% | |
| Telecom | 1.73% | |
| Media | 1.56% | |
| Broadcasting | 1.96% | |
| Advertising | 0.20% | |
| Cable and Satellite | 0% | |
| Publishing | -0.49% | |
Industry PE
- Investors are most optimistic about the Advertising industry even though it's trading below its 3-year average PE ratio of 84.2x.
- Analysts are expecting annual earnings growth of 17.0%, which is lower than the prior year's growth of 19.7% per year.
- Investors are most pessimistic about the Broadcasting industry, which is trading below its 3-year average of 7.2x.
Forecasted Growth
- Analysts are most optimistic on the Advertising industry, expecting annual earnings growth of 17% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Broadcasting industry is expected to see its earnings decline by 13% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| A3M Atresmedia Corporación de Medios de Comunicación | €4.45 | 2.2% +€21.4m | 20.3% | PE5.8x | |
| PRS Promotora de Informaciones | €0.34 | 1.5% +€5.0m | -6.3% | PS0.4x | |
| LLYC Llorente & Cuenca | €9.10 | 2.8% +€2.8m | -16.5% | PE14.1x | |
| MIO Media Investment Optimization | €3.84 | 1.1% +€260.3k | -34.4% | PS0.4x |
