TFF Group (TFF) AI Stock Analysis

• Market Cap: €400.92M
• Dividend Yield: 2.75%
• Average Volume (3M): 9.57K
• Price to Earnings (P/E): 17.2
• Beta (1Y): 0.25
• Revenue Growth: -12.56%
• EPS Growth: -45.58%
• Country: FR
• Employees: 1,802
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Packaging & Containers
• EPS (TTM): 0.71
• Shares Outstanding: 21,680,000
• 10 Day Avg. Volume: 4,122
• 30 Day Avg. Volume: 9,570
• PEG Ratio: -0.32
• Price to Book (P/B): 0.93
• Price to Sales (P/S): 1.06
• P/FCF Ratio: -25.83
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €17.00
• Price Target Upside: -7.86% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.92
• Revenue Forecast (FY): €324.23M

• Rating: 67 Neutral
• Price Target: €19.50 ▲(5.69% Upside)
• Action: Reiterated Date: 10/23/25
• Date: Action: Reiterated 10/23/25

TFF Group's overall stock score is driven by a reasonable valuation and a strong gross profit margin. However, negative revenue growth and cash flow challenges weigh on the score. Technical indicators show mixed signals, with short-term bullish momentum but longer-term bearish trends.

Positive Factors

Business Model Strength

A diversified revenue model with contract manufacturing, licensing, and partnerships ensures stability and resilience against market fluctuations.

Gross Profit Margin

An improving gross profit margin indicates efficient cost management, enhancing the company's ability to reinvest in growth and innovation.

Stable Balance Sheet

A stable balance sheet with manageable leverage supports long-term financial health, providing flexibility for strategic investments and growth.

Negative Factors

Negative Revenue Growth

Negative revenue growth suggests challenges in market expansion or product demand, potentially impacting future profitability and market position.

Declining Net Profit Margin

A declining net profit margin indicates pressure on profitability, which could affect the company's ability to fund operations and growth initiatives.

Negative Cash Flow Trends

Negative cash flow trends highlight cash generation issues, limiting the company's capacity to invest in new opportunities and manage financial obligations.

TFF Group Business Overview & Revenue Model

Company Description

TFF Group manufactures and distributes barrels and wood products for the aging of wines, spirits, and alcohols in France, rest of Europe, Australasia, the United States, and internationally. The company also offers staves, cooperages, casks, wood and oenological products, and stainless steel containers. It primarily serves wine, whisky, and bourbon markets. The company was formerly known as Tonnellerie François Frères. TFF Group was founded in 1910 and is based in Saint-Romain, France.

How the Company Makes Money

TFF Group generates revenue through a multifaceted business model that includes contract manufacturing services for pharmaceutical companies, licensing agreements for its proprietary technologies, and partnerships with research institutions. The primary revenue stream comes from fees charged for the development and production of drug formulations, where TFF collaborates with clients to create tailored solutions that meet specific therapeutic needs. Additionally, TFF benefits from licensing its thin-film freezing technology to other pharmaceutical manufacturers, allowing them to utilize its innovative approaches in their own product lines. Strategic partnerships with biotech firms and pharmaceutical companies further bolster TFF’s earning potential by providing access to new markets and collaborative research initiatives aimed at advancing drug delivery systems.

TFF Group Financial Statement Overview

Summary

TFF Group shows a mixed financial performance. The gross profit margin is strong at 57.24%, but the net profit margin has declined to 7.22%. Revenue growth is negative at -8.02%, and cash flow issues are significant, with negative free cash flow growth of -24.47%.

Income Statement

The income statement shows a mixed performance. The gross profit margin has improved over the years, reaching 57.24% in the latest period, indicating efficient cost management. However, the net profit margin has declined to 7.22% from 11.60% the previous year, reflecting challenges in maintaining profitability. Revenue growth has been negative at -8.02%, which is concerning, though historically, the company has shown periods of strong growth. EBIT and EBITDA margins have decreased, suggesting pressure on operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.81, which is manageable but has increased over the years, indicating rising leverage. The return on equity has decreased to 6.30%, showing reduced profitability for shareholders. The equity ratio remains healthy at around 49%, suggesting a solid capital structure with a good proportion of equity financing.

Cash Flow

Cash flow analysis reveals significant challenges. Free cash flow has been negative, with a growth rate of -24.47%, indicating cash flow issues. The operating cash flow to net income ratio is low at 0.03, suggesting limited cash generation from operations relative to net income. The free cash flow to net income ratio is negative, highlighting cash flow constraints despite reported profits.

Breakdown	TTM	Apr 2025	Apr 2024	Apr 2023	Apr 2022	Apr 2021
Income Statement
Total Revenue	366.14M	425.43M	486.55M	439.79M	302.62M	260.88M
Gross Profit	169.19M	243.53M	265.30M	81.33M	39.62M	37.30M
EBITDA	65.17M	81.01M	115.16M	90.50M	63.62M	53.55M
Net Income	23.29M	30.70M	56.45M	52.82M	35.86M	20.04M
Balance Sheet
Total Assets	981.52M	995.14M	968.99M	843.55M	735.00M	659.67M
Cash, Cash Equivalents and Short-Term Investments	96.71M	79.67M	92.94M	102.34M	97.58M	94.64M
Total Debt	397.73M	392.80M	359.53M	286.50M	234.44M	232.65M
Total Liabilities	464.31M	476.77M	457.86M	381.31M	308.88M	285.93M
Stockholders Equity	485.77M	487.57M	489.70M	442.45M	407.54M	368.34M
Cash Flow
Free Cash Flow	16.49M	-17.53M	-55.72M	-29.16M	17.98M	40.40M
Operating Cash Flow	36.08M	9.90M	3.54M	-1.73M	29.93M	48.27M
Investing Cash Flow	-19.24M	-34.09M	-70.38M	-28.68M	-23.53M	-10.19M
Financing Cash Flow	-4.84M	13.42M	56.21M	38.98M	-7.52M	-24.95M

TFF Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TFF, the sentiment is Positive. The current price of 18.45 is above the 20-day moving average (MA) of 17.49, above the 50-day MA of 17.75, and below the 200-day MA of 18.58, indicating a neutral trend. The MACD of 0.25 indicates Negative momentum. The RSI at 61.00 is Neutral, neither overbought nor oversold. The STOCH value of 91.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:TFF.

TFF Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALDEL	68 Neutral	€79.41M	5.92	9.65%	2.13%	-7.45%	―
TFF	67 Neutral	€400.92M	17.19	―	2.75%	-12.56%	-45.58%
OPM	66 Neutral	€2.41B	13.06	7.91%	3.86%	-0.29%	-1.66%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ALCAT	56 Neutral	€83.81M	5.73	13.33%	6.23%	-23.79%	-56.20%
ALBI	46 Neutral	€85.82M	93.06	―	―	7.25%	―
VRLA	46 Neutral	€2.45B	26.35	―	7.54%	-3.17%	-37.20%