TF1 SA

DB:FSE Stock Report

Market Cap: €1.5b

TF1 Valuation

Is FSE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FSE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FSE (€7.06) is trading below our estimate of fair value (€33.5)

Significantly Below Fair Value: FSE is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FSE?

Key metric: As FSE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FSE. This is calculated by dividing FSE's market cap by their current earnings.
What is FSE's PE Ratio?
PE Ratio7.7x
Earnings€197.60m
Market Cap€1.51b

Price to Earnings Ratio vs Peers

How does FSE's PE Ratio compare to its peers?

The above table shows the PE ratio for FSE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.3x
RRTL RTL Group
9.3x-2.6%€3.7b
SAX Ströer SE KGaA
22.6x29.2%€2.6b
KA8 Klassik Radio
30.7xn/a€17.8m
M8G Verve Group
14.6x22.0%€746.3m
FSE TF1
7.7x12.6%€1.5b

Price-To-Earnings vs Peers: FSE is good value based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

How does FSE's PE Ratio compare vs other companies in the European Media Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FSE 7.7xIndustry Avg. 12.2xNo. of Companies17PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FSE is good value based on its Price-To-Earnings Ratio (7.7x) compared to the European Media industry average (12.2x).

Price to Earnings Ratio vs Fair Ratio

What is FSE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FSE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ratio17.1x

Price-To-Earnings vs Fair Ratio: FSE is good value based on its Price-To-Earnings Ratio (7.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FSE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.06
€10.33
+46.4%
16.9%€12.30€7.60n/a6
Nov ’25€7.54
€10.50
+39.3%
15.3%€12.30€7.60n/a6
Oct ’25€7.92
€10.57
+33.4%
15.9%€12.70€7.60n/a6
Sep ’25€7.95
€10.57
+32.9%
15.9%€12.70€7.60n/a6
Aug ’25€7.90
€10.57
+33.8%
15.9%€12.70€7.60n/a6
Jul ’25€7.39
€10.33
+39.9%
16.7%€12.50€7.60n/a6
Jun ’25€8.89
€10.72
+20.6%
17.6%€13.00€7.60n/a6
May ’25€8.83
€10.70
+21.2%
17.9%€13.00€7.50n/a6
Apr ’25€8.47
€10.70
+26.3%
17.9%€13.00€7.50n/a6
Mar ’25€8.46
€10.70
+26.5%
17.9%€13.00€7.50n/a6
Feb ’25€8.09
€10.28
+27.1%
19.2%€13.00€7.50n/a6
Jan ’25€7.06
€9.71
+37.5%
16.8%€12.30€7.50n/a6
Dec ’24€7.08
€9.89
+39.8%
19.7%€13.40€7.50n/a6
Nov ’24€6.66
€9.89
+48.6%
19.7%€13.40€7.50€7.546
Oct ’24€7.14
€10.11
+41.6%
20.1%€13.40€7.50€7.926
Sep ’24€7.46
€10.11
+35.5%
20.1%€13.40€7.50€7.956
Aug ’24€7.41
€9.93
+34.0%
22.0%€13.40€7.50€7.905
Jul ’24€6.31
€10.09
+60.1%
19.9%€13.30€7.50€7.396
Jun ’24€6.50
€10.16
+56.3%
19.4%€13.40€7.75€8.896
May ’24€7.85
€10.64
+35.5%
17.0%€13.40€7.80€8.835
Apr ’24€7.97
€10.68
+34.0%
17.5%€13.60€7.80€8.475
Mar ’24€7.54
€10.23
+35.7%
19.3%€13.60€7.80€8.466
Feb ’24€7.33
€10.50
+43.3%
20.9%€13.62€7.20€8.097
Jan ’24€7.17
€10.29
+43.6%
24.1%€13.62€6.50€7.067
Dec ’23€7.22
€9.90
+37.1%
23.2%€13.00€6.50€7.086
Nov ’23€6.45
€9.30
+44.3%
27.8%€13.00€5.70€6.667

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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