Television Francaise 1 SA TF1 (TFI) AI Stock Analysis

• Market Cap: €1.50B
• Dividend Yield: 7.35%
• Average Volume (3M): 158.44K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 0.71
• Revenue Growth: 1.00%
• EPS Growth: -7.89%
• Country: FR
• Employees: 3,165
• Sector: Communication Services
• Sector Strength: 97
• Industry: Broadcasting
• EPS (TTM): 0.14
• Shares Outstanding: 211,034,260
• 10 Day Avg. Volume: 140,132
• 30 Day Avg. Volume: 158,435
• PEG Ratio: -0.45
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 0.77
• P/FCF Ratio: 17.89
• 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: €9.30
• Price Target Upside: 30.80% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): 0.62
• Revenue Forecast (FY): €2.24B

• Rating: 63 Neutral
• Price Target: €8.00 ▲(12.52% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven by solid financial footing (notably low leverage) and supportive valuation (low P/E and high yield), but is held back by weakening recent earnings/free-cash-flow trends and a clearly bearish technical picture with the stock below major moving averages and weak momentum indicators.

Positive Factors

Conservative leverage / strong balance sheet

TF1's very low debt relative to equity and steadily built equity create durable financial flexibility. This conservatism supports investment in content, dividend capacity and resilience through ad-demand cycles, reducing refinancing risk and enabling strategic optionality over months.

Consistent operating cash generation

Stable positive operating cash flow underpins the core broadcasting business's ability to fund content production and working capital without relying on external financing. Over a multi-month horizon this supports operational continuity and the ability to sustain programming and distribution investments.

Market leadership and diversified revenue streams

TF1's leading TV audience position in France plus revenue from advertising, streaming, licensing and production creates durable commercial advantages: pricing power for ad inventory, multiple monetization channels, and content/IP leverage that cushions single-channel ad cyclicality over time.

Negative Factors

Top-line weakness and flat-to-down revenue

A stagnant or slightly declining revenue trend reduces operating scale and limits reinvestment capacity. For an ad-driven broadcaster, persistent top-line weakness can compress strategic flexibility, constrain content spending and pressure long-term growth unless product or distribution gains reverse the trend.

Volatile and weakening free cash flow

Large swings and a downward trajectory in FCF impair the company's ability to consistently fund dividends, content investment and M&A. Volatility suggests working-capital or capex pressure that can limit predictable capital returns and strategic investment over the medium term.

Softening earnings momentum

A marked drop in earnings and negative EPS growth curtails internal financing for strategic initiatives and raises risk around maintaining margins. For a mature broadcaster, weakened profitability reduces buffer against cyclical ad downturns and may force cost cuts or reduced content spending.

Television Francaise 1 SA TF1 Business Overview & Revenue Model

Company Description

Télévision Française 1 Société anonyme engages in the broadcasting, studios and entertainment, and digital businesses in France and internationally. The company offers DTT channels, including TMC, TFX, and TF1 Séries Films; Theme channels, such as TV Breizh, Ushuaïa TV, and Histoire TV; e-TF1; websites; and advertising services, as well as TF1, which covers sports, French drama, news, entertainment, sports, and movies. It also operates studios, including Newen Studios; TF1 Studio; and entertainment channel comprising TF1 Entertainment. In addition, the company operates Unify, a digital channel. Further, it offers digital market consulting, digital content management, theme channel. content/broadcasting internet and TV services, and TV news images agency services. Télévision Française 1 Société anonyme was incorporated in 1982 and is based in Boulogne, France.

How the Company Makes Money

TF1 generates revenue through multiple streams, predominantly from advertising sales, which account for a significant portion of its income. The company sells advertising slots during its programming, capitalizing on its large viewership. Additionally, TF1 earns revenue from subscription services, particularly through its paid streaming platform, and through partnerships with other media companies for content distribution and syndication. The company also benefits from licensing its content for international distribution and engages in production contracts for creating television shows and films. Strategic partnerships with advertisers and digital platforms further bolster its revenue, enabling TF1 to capitalize on the evolving media landscape.

Television Francaise 1 SA TF1 Financial Statement Overview

Summary

Balance sheet strength (low leverage and steadily rising equity; solid ROE in 2021–2024) supports the score, but operating trends are softer: revenue has been flat-to-down and 2025 profitability and free cash flow weakened versus 2023–2024.

Income Statement

Revenue has been broadly flat to down over the last two years (2025 down ~2.8% after a modest increase in 2024), pointing to a choppy demand backdrop. Profitability remains positive with mid-to-high single-digit net margins in 2023–2024, but earnings momentum softened in 2025 (lower EBIT and net income versus 2024). Overall, the business shows resilient profitability for the industry, but with weakening recent trend and limited top-line growth.

Balance Sheet

Leverage looks conservative: debt has stayed relatively low versus equity (debt-to-equity around ~0.07–0.14 in 2021–2024), and equity has steadily built over time. Returns on equity have generally been solid for a mature broadcaster (roughly ~9–13% in 2021–2024), indicating decent capital efficiency. The main watch item is that total debt ticked up in 2024–2025 versus 2023, though still at manageable levels.

Cash Flow

Operating cash generation is consistently positive, but free cash flow has become more volatile: strong in 2023, then materially lower in 2024 and down again in 2025 (with a sharp negative growth rate in 2025). Cash conversion is mixed, with free cash flow meaningfully below net income in 2024, suggesting higher investment needs or working-capital pressure. Strength is steady operating cash flow; weakness is the recent step-down in free cash flow and variability year to year.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.30B	2.36B	2.30B	2.51B	2.43B
Gross Profit	443.00M	1.49B	974.50M	1.78B	1.71B
EBITDA	611.30M	716.40M	640.30M	770.00M	726.00M
Net Income	152.80M	205.50M	191.90M	176.10M	225.30M
Balance Sheet
Total Assets	3.75B	3.88B	3.66B	3.64B	3.72B
Cash, Cash Equivalents and Short-Term Investments	683.10M	709.00M	669.00M	484.50M	384.00M
Total Debt	265.90M	271.00M	143.90M	183.50M	249.20M
Total Liabilities	1.63B	1.78B	1.71B	1.78B	1.95B
Stockholders Equity	2.06B	2.04B	1.95B	1.86B	1.77B
Cash Flow
Free Cash Flow	98.30M	153.70M	327.20M	150.70M	310.40M
Operating Cash Flow	456.70M	475.00M	626.60M	463.30M	642.50M
Investing Cash Flow	-318.60M	-372.30M	-321.90M	-205.10M	-308.70M
Financing Cash Flow	-159.50M	-63.20M	-121.30M	-154.70M	-129.40M

Television Francaise 1 SA TF1 Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TFI, the sentiment is Negative. The current price of 7.11 is below the 20-day moving average (MA) of 7.52, below the 50-day MA of 7.86, and below the 200-day MA of 8.29, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 39.29 is Neutral, neither overbought nor oversold. The STOCH value of 75.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:TFI.

Television Francaise 1 SA TF1 Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NRG	75 Outperform	€541.60M	20.49	4.56%	3.59%	-9.30%	-47.10%
IPS	72 Outperform	€1.48B	7.94	12.70%	5.51%	0.66%	-0.38%
MMT	69 Neutral	€1.43B	11.60	11.94%	10.45%	-4.71%	-31.54%
TFI	63 Neutral	€1.50B	9.83	9.15%	7.35%	1.00%	-7.89%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SESG	57 Neutral	€2.73B	-49.59	-2.14%	8.33%	-0.99%	93.75%
VIV	54 Neutral	€2.06B	―	―	1.70%	―	―