ENXTPA:TFI

Stock Analysis Report

Télévision Française 1

Executive Summary

Télévision Française 1 SA, an integrated media company, engages in broadcasting business in France and internationally.

Snowflake

Fundamentals

Flawless balance sheet, undervalued and pays a dividend.


Similar Companies

Share Price & News

How has Télévision Française 1's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.5%

TFI

1.8%

FR Media

-0.03%

FR Market


1 Year Return

-5.9%

TFI

-18.3%

FR Media

10.4%

FR Market

Return vs Industry: TFI exceeded the French Media industry which returned -18.3% over the past year.

Return vs Market: TFI underperformed the French Market which returned 10.4% over the past year.


Shareholder returns

TFIIndustryMarket
7 Day2.5%1.8%-0.03%
30 Day-1.5%-7.5%-0.8%
90 Day-3.1%-6.6%-0.8%
1 Year-1.7%-5.9%-14.6%-18.3%14.2%10.4%
3 Year12.2%1.1%-10.7%-19.8%42.3%28.5%
5 Year1.4%-22.3%1.7%-14.0%72.6%46.3%

Price Volatility Vs. Market

How volatile is Télévision Française 1's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Télévision Française 1 undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TFI (€8.28) is trading below our estimate of fair value (€18.58)

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


Price To Earnings Ratio

PE vs Industry: TFI is good value based on its PE Ratio (10.3x) compared to the Media industry average (17.5x).

PE vs Market: TFI is good value based on its PE Ratio (10.3x) compared to the French market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: TFI is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: TFI is good value based on its PB Ratio (1.1x) compared to the FR Media industry average (1.3x).


Next Steps

Future Growth

How is Télévision Française 1 forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

9.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TFI's forecast earnings growth (9.9% per year) is above the savings rate (0.7%).

Earnings vs Market: TFI's earnings (9.9% per year) are forecast to grow slower than the French market (11.5% per year).

High Growth Earnings: TFI's earnings are forecast to grow, but not significantly.

Revenue vs Market: TFI's revenue (1.3% per year) is forecast to grow slower than the French market (4.4% per year).

High Growth Revenue: TFI's revenue (1.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TFI's Return on Equity is forecast to be low in 3 years time (11.2%).


Next Steps

Past Performance

How has Télévision Française 1 performed over the past 5 years?

10.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TFI's earnings have grown by 10.1% per year over the past 5 years.

Accelerating Growth: TFI's earnings growth over the past year (33.4%) exceeds its 5-year average (10.1% per year).

Earnings vs Industry: TFI earnings growth over the past year (33.4%) exceeded the Media industry 13%.


Return on Equity

High ROE: TFI's Return on Equity (10.8%) is considered low.


Return on Assets

ROA vs Industry: TFI has a higher Return on Assets than the Media industry average last year.


Return on Capital Employed

ROCE Improving: TFI has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Télévision Française 1's financial position?


Financial Position Analysis

Short Term Liabilities: TFI's short term assets (€1.9B) exceeds its short term liabilities (€1.5B)

Long Term Liabilities: TFI's short term assets (1.9B) exceeds its long term liabilities (322.6M)


Debt to Equity History and Analysis

Debt Level: TFI's debt to equity ratio (11.3%) is considered satisfactory

Reducing Debt: TFI had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: TFI's debt is well covered by operating cash flow (270.9%).

Interest Coverage: TFI's interest payments on its debt are well covered by EBIT (132.2x coverage).


Balance Sheet

Inventory Level: TFI has a low level of unsold assets or inventory.

Debt Coverage by Assets: TFI's debt is covered by short term assets (assets are 10.575360x debt).


Next Steps

Dividend

What is Télévision Française 1's current dividend yield, its reliability and sustainability?

4.83%

Current Dividend Yield


Dividend Yield vs Market

company4.8%marketbottom25%1.5%markettop25%4.7%industryaverage4.9%forecastin3Years6.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TFI's dividend (4.83%) is higher than the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: TFI's dividend (4.83%) is in the top 25% of dividend payers in the French market (4.72%)

Stable Dividend: TFI's dividend payments have been volatile in the past 10 years.

Growing Dividend: TFI's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.5%), TFI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TFI's dividends in 3 years are forecast to be covered by earnings (53.8% payout ratio).


Next Steps

Management

What is the CEO of Télévision Française 1's salary, the management and board of directors tenure and is there insider trading?

3.7yrs

Average management tenure


CEO

Gilles Christian Pélisson (62yo)

3.7yrs

Tenure

€2,472,864

Compensation

Mr. Gilles Christian Gérard Pélisson serves as the Chief Executive Officer of TF1 Group since February 19, 2016. Mr. Pélisson serves as a Member of the Management Board of Lenôtre SA. He served as the Chie ...


CEO Compensation Analysis

Compensation vs. Market: Gilles Christian's total compensation ($USD2.75M) is about average for companies of similar size in the French market ($USD1.12M).

Compensation vs Earnings: Gilles Christian's compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.7yrs

Average Tenure

57.5yo

Average Age

Experienced Management: TFI's management team is considered experienced (3.7 years average tenure).


Board Age and Tenure

6.9yrs

Average Tenure

62.5yo

Average Age

Experienced Board: TFI's board of directors are considered experienced (6.9 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Gilles Christian Pélisson (62yo)

    Chairman & CEO

    • Tenure: 3.7yrs
    • Compensation: €2.47m
  • Jean-François Lancelier (64yo)

    Chief Executive of Broadcasting

    • Tenure: 0yrs
  • Arnaud Bosom (59yo)

    Executive VP of Human Resources & Corporate Social Responsibility

    • Tenure: 3.7yrs
  • Santi Casariego

    Head of Production of Musical Content

    • Tenure: 12.8yrs
  • Philippe Denery (62yo)

    Executive VP of Finance & Procurement

    • Tenure: 3.7yrs
  • Hervé Pavard (52yo)

    Director of Technologies

    • Tenure: 4.9yrs
  • Ara Aprikian (53yo)

    Executive Vice President of Content

    • Tenure: 3.7yrs
  • Thierry Thuillier (56yo)

    Executive Vice President of News

    • Tenure: 2yrs
  • Maylis Carcabal (47yo)

    Vice President of Communication & Brands

    • Tenure: 1.6yrs
  • Stéphanie Laval

    Head of Financial Communication and Investor Relations

    • Tenure: 0yrs

Board Members

  • Martin Bouygues (67yo)

    Non-Independent Director

    • Tenure: 32.1yrs
    • Compensation: €23.90k
  • Olivier Bouygues (69yo)

    Non-Independent Director

    • Tenure: 14.5yrs
    • Compensation: €18.50k
  • Laurence Danon Arnaud (63yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: €30.50k
  • Gilles Christian Pélisson (62yo)

    Chairman & CEO

    • Tenure: 3.7yrs
    • Compensation: €2.47m
  • Laurent-Éric Le Lay (51yo)

    Chairman of TF1 Publicité

    • Tenure: 6yrs
  • Philippe Marien (63yo)

    Non-Independent Director

    • Tenure: 11.7yrs
    • Compensation: €33.74k
  • Olivier Roussat (55yo)

    Non-Independent Director

    • Tenure: 6.5yrs
    • Compensation: €23.90k
  • Philippe Balland (61yo)

    Advisor to the Chief Executive

    • Tenure: 7.3yrs
  • Catherine Dussart (66yo)

    Independent Director

    • Tenure: 6.5yrs
    • Compensation: €27.14k
  • Pascaline de Dreuzy (61yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: €30.50k

Company Information

Télévision Française 1 SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Télévision Française 1 SA
  • Ticker: TFI
  • Exchange: ENXTPA
  • Founded: 1975
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: €1.738b
  • Shares outstanding: 209.86m
  • Website: https://www.groupe-tf1.fr

Number of Employees


Location

  • Télévision Française 1 SA
  • 1, quai du Point-du-Jour
  • Cedex
  • Boulogne-Billancourt
  • Ile-de-France
  • 92656
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TVFC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
TFIENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
FSEDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0NQTLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
TFIPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

Télévision Française 1 SA, an integrated media company, engages in broadcasting business in France and internationally. The company’s Broadcasting segment operates TF1, an event-based channel; TMC, a digit ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:38
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.