Eutelsat Group

LSE:ETL Stock Report

Market Cap: €1.8b

Eutelsat Group Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 ETL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ETL (€4.27) is trading above our estimate of fair value (€2.63)

Significantly Below Fair Value: ETL is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ETL. This is calculated by dividing ETL's market cap by their current revenue.
What is ETL's PS Ratio?
PS Ratio1.4x
Sales€1.21b
Market Cap€1.75b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ETL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
ITV ITV
0.7x2.0%UK£2.4b
FOUR 4imprint Group
1.3x5.3%UK£1.4b
FUTR Future
1.2x1.0%UK£961.0m
NEXN Nexxen International
1.5x8.7%UK£403.3m
ETL Eutelsat Group
1.4x7.3%€1.8b

Price-To-Sales vs Peers: ETL is expensive based on its Price-To-Sales Ratio (1.4x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does ETL's PS Ratio compare vs other companies in the GB Media Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
TMG Mission Group
0.09x-41.9%US$21.19m
JWNG Jaywing
0.08xn/aUS$2.06m
BONH Bonhill Group
0.04xn/aUS$681.51k
No more companies available in this PS range
ETL 1.4xIndustry Avg. 0.7xNo. of Companies11PS00.81.62.43.24+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ETL is expensive based on its Price-To-Sales Ratio (1.4x) compared to the UK Media industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is ETL'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.

ETL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.4x
Fair PS Ratio3.5x

Price-To-Sales vs Fair Ratio: ETL is good value based on its Price-To-Sales Ratio (1.4x) compared to the estimated Fair Price-To-Sales Ratio (3.5x).

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 ETL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.27
€3.50
-17.9%
15.3%€4.50€3.00n/a10
Nov ’25€4.27
€3.54
-17.0%
17.2%€4.80€3.00n/a10
Oct ’25€4.27
€3.66
-14.1%
20.8%€5.50€3.00n/a11
Sep ’25€4.27
€3.69
-13.5%
21.6%€5.50€3.00n/a10
Aug ’25€4.27
€3.77
-11.6%
22.0%€5.50€3.00n/a10
Jul ’25€4.27
€3.77
-11.6%
22.0%€5.50€3.00n/a10
Jun ’25€4.27
€3.72
-12.7%
23.1%€5.50€3.00n/a9
May ’25€4.27
€4.16
-2.6%
47.7%€9.50€3.00n/a9
Apr ’25€4.27
€4.47
+4.8%
48.0%€9.50€3.00n/a7
Mar ’25€4.27
€4.48
+4.9%
44.7%€9.50€3.00n/a8
Feb ’25€4.27
€4.73
+10.8%
42.5%€9.50€3.00n/a8
Jan ’25€4.26
€4.97
+16.8%
40.8%€9.50€3.00n/a7
Dec ’24€3.88
€5.84
+50.8%
30.1%€9.50€4.00n/a7
Nov ’24€4.10
€7.81
+90.5%
34.8%€14.00€5.30€4.278
Oct ’24€5.50
€8.13
+47.7%
32.0%€14.00€5.30€4.278
Sep ’24€5.57
€8.13
+45.8%
32.0%€14.00€5.30€4.278
Aug ’24€6.23
€8.09
+29.8%
32.6%€14.00€5.30€4.278
Jul ’24€5.99
€8.29
+38.4%
30.7%€14.00€5.40€4.278
Jun ’24€5.94
€8.36
+40.7%
29.4%€14.00€6.00€4.278
May ’24€5.99
€8.43
+40.8%
29.7%€14.00€6.00€4.278
Apr ’24€6.13
€8.81
+43.7%
27.2%€14.00€6.00€4.279
Mar ’24€6.62
€9.04
+36.5%
23.8%€14.00€6.00€4.2710
Feb ’24€7.00
€9.74
+39.1%
22.2%€14.00€6.00€4.2710
Jan ’24€7.02
€9.94
+41.5%
22.7%€14.00€6.00€4.2610
Dec ’23€7.75
€9.94
+28.3%
22.7%€14.00€6.00€3.8810
Nov ’23€10.01
€10.14
+1.3%
23.9%€14.00€6.00€4.1010

Analyst Forecast: Target price is lower than the current share price.

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