ProSiebenSat.1 Media SE

DB:PSM Stock Report

Market Cap: €1.1b

ProSiebenSat.1 Media Valuation

Is PSM 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PSM (€4.98) is trading below our estimate of fair value (€28.44)

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

Key Valuation Metric

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

Key metric: As PSM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PSM. This is calculated by dividing PSM's market cap by their current revenue.
What is PSM's PS Ratio?
PS Ratio0.3x
Sales€3.94b
Market Cap€1.12b

Price to Sales Ratio vs Peers

How does PSM's PS Ratio compare to its peers?

The above table shows the PS ratio for PSM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1x
RRTL RTL Group
0.6x4.8%€3.7b
KA8 Klassik Radio
0.9xn/a€17.9m
M8G Verve Group
1.9x12.6%€733.2m
WIG1 Sporttotal
0.4xn/a€17.4m
PSM ProSiebenSat.1 Media
0.3x2.7%€1.1b

Price-To-Sales vs Peers: PSM is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1x).

Price to Sales Ratio vs Industry

How does PSM's PS Ratio compare vs other companies in the DE Media Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
TC1 Tele Columbus
0.1x2.3%US$109.29m
SBV Schwabenverlag
0.1xn/aUS$1.46m
53Y Bonhill Group
0.02xn/aUS$398.20k
69R Aventura Group
0.09xn/aUS$242.86k
No more companies available in this PS range
PSM 0.3xIndustry Avg. 0.7xNo. of Companies4PS00.61.21.82.43+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PSM is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Media industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

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

PSM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: PSM is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 PSM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.98
€7.71
+54.9%
29.9%€13.00€5.30n/a12
Nov ’25€5.54
€7.98
+44.1%
29.1%€13.00€5.30n/a12
Oct ’25€5.85
€8.05
+37.6%
28.3%€13.00€5.80n/a12
Sep ’25€5.76
€8.01
+39.2%
27.4%€12.50€5.80n/a12
Aug ’25€6.29
€8.07
+28.2%
26.6%€12.50€6.00n/a12
Jul ’25€6.64
€7.93
+19.4%
25.1%€12.50€6.00n/a12
Jun ’25€7.55
€7.83
+3.7%
24.8%€12.50€6.00n/a13
May ’25€7.28
€7.70
+5.9%
26.4%€12.50€5.70n/a13
Apr ’25€6.50
€7.42
+14.1%
29.4%€12.50€4.90n/a13
Mar ’25€6.36
€7.26
+14.1%
31.4%€12.50€4.70n/a13
Feb ’25€6.46
€7.41
+14.7%
38.5%€15.00€4.70n/a13
Jan ’25€5.52
€7.69
+39.5%
36.5%€15.00€4.90n/a13
Dec ’24€5.71
€7.97
+39.6%
34.7%€15.00€4.90n/a13
Nov ’24€5.14
€8.50
+65.4%
32.2%€15.00€5.30€5.5413
Oct ’24€6.42
€9.31
+45.1%
22.6%€15.00€6.50€5.8513
Sep ’24€7.38
€9.21
+24.8%
23.0%€15.00€6.50€5.7614
Aug ’24€8.91
€9.21
+3.3%
24.3%€15.00€6.00€6.2914
Jul ’24€8.54
€9.26
+8.5%
24.0%€15.00€6.00€6.6414
Jun ’24€7.88
€9.19
+16.7%
23.7%€15.00€6.00€7.5514
May ’24€8.10
€9.68
+19.5%
22.3%€15.00€6.00€7.2814
Apr ’24€9.41
€9.72
+3.3%
21.6%€15.00€6.00€6.5014
Mar ’24€9.09
€9.94
+9.4%
24.8%€15.00€6.00€6.3614
Feb ’24€9.54
€9.94
+4.2%
24.8%€15.00€6.00€6.4614
Jan ’24€8.30
€9.61
+15.7%
28.9%€15.00€6.00€5.5215
Dec ’23€8.84
€10.12
+14.5%
32.3%€16.00€6.20€5.7115
Nov ’23€7.04
€10.08
+43.2%
34.9%€16.00€5.91€5.1415

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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