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Canal+
(LSE:CAN)
Select Model
Select Model
Rating:53Neutral
Price Target:
267.00 p
▲(14.01% Upside)
Action:Reiterated
Date:08/02/26
The score is primarily held back by financial performance—ongoing net losses, negative ROE, and weakening free cash flow despite improving revenue and EBIT margin. Technicals are a relative positive with the price above major moving averages, but valuation remains pressured due to the negative P/E and only a modest dividend yield.
Positive Factors
Recurring subscription revenue model
A subscription-first business provides structurally recurring revenue and customer lifetime value. Over a multi-month horizon, predictable monthly receipts support steady cash generation, allow tiered ARPU strategies, and facilitate retention-focused investments that compound value.
Negative Factors
Persistent net losses and negative ROE
Multi-year net losses and negative ROE constrain shareholder returns and internal reinvestment capacity. Over a 2-6 month horizon, sustained losses can force continued reliance on external financing, limit strategic optionality, and keep earnings recovery uncertain.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring subscription revenue model
A subscription-first business provides structurally recurring revenue and customer lifetime value. Over a multi-month horizon, predictable monthly receipts support steady cash generation, allow tiered ARPU strategies, and facilitate retention-focused investments that compound value.
Read all positive factors
Canal+ (CAN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.58B
Dividend Yield0.01%
Average Volume (3M)993.71K
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth9.24%
EPS Growth64.97%
CountryUK
Employees8,892
SectorGeneral
Sector StrengthN/A
IndustryBroadcasting
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding980,551,300
10 Day Avg. Volume770,630
30 Day Avg. Volume993,710
Financial Highlights & Ratios
PEG Ratio0.92
Price to Book (P/B)0.85
Price to Sales (P/S)0.44
P/FCF Ratio7.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£400.00Price Target Upside70.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.3
Revenue Forecast (FY)£8.70B
Canal+ Business Overview & Revenue Model
Company Description
Canal+ SA operates as a provider of television services, focusing on broadcasting and content distribution. Its business is structured into three primary divisions: Europe, Africa and Asia, and a segment dedicated to Content Production, Distributi...
How the Company Makes Money
Canal+ makes money primarily by monetizing access to audiovisual content through subscriptions and, to a lesser extent, related distribution and advertising activities.
1) Subscription revenue (core): The largest and most structurally recurring r...
Canal+ Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.14B | 6.95B | 6.45B | 6.22B | 6.01B | 5.87B |
| Gross Profit | 3.81B | 3.07B | 2.55B | 2.50B | 2.46B | 2.44B |
| EBITDA | 1.03B | 675.00M | 485.00M | 661.00M | 716.00M | 697.00M |
| Net Income | -87.84M | -47.00M | -147.00M | -61.00M | 141.00M | 119.00M |
Balance Sheet | ||||||
| Total Assets | 12.20B | 12.29B | 9.37B | 8.91B | 8.60B | 7.68B |
| Cash, Cash Equivalents and Short-Term Investments | 951.00M | 830.00M | 378.00M | 429.00M | 284.00M | 212.00M |
| Total Debt | 3.52B | 3.34B | 951.00M | 4.45B | 3.89B | 3.21B |
| Total Liabilities | 8.41B | 8.64B | 4.32B | 7.77B | 7.42B | 6.71B |
| Stockholders Equity | 3.59B | 3.57B | 4.79B | 894.00M | 970.00M | 767.00M |
Cash Flow | ||||||
| Free Cash Flow | 90.10M | 412.00M | 131.00M | 199.00M | 69.00M | 284.00M |
| Operating Cash Flow | 380.48M | 709.00M | 413.00M | 500.00M | 405.00M | 654.00M |
| Investing Cash Flow | -1.46B | -1.46B | -871.00M | -743.00M | -819.00M | -539.00M |
| Financing Cash Flow | 1.43B | 1.18B | 495.00M | 299.00M | 505.00M | -75.00M |
Canal+ Technical Analysis
Positive
234.20
Price Trends
251.47
Positive
236.44
Positive
250.97
Positive
Market Momentum
2.32
Negative
65.17
Neutral
84.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CAN, the sentiment is Positive. The current price of 234.2 is below the 20-day moving average (MA) of 242.33, below the 50-day MA of 251.47, and below the 200-day MA of 250.97, indicating a bullish trend. The MACD of 2.32 indicates Negative momentum. The RSI at 65.17 is Neutral, neither overbought nor oversold. The STOCH value of 84.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CAN.
Canal+ Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | £2.77B | 14.20 | 11.42% | 6.84% | 1.58% | 27.05% | |
59 Neutral | £27.14B | -69.93 | -0.79% | 3.46% | 11.08% | 87.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | £19.61B | 13.71 | 11.37% | 4.25% | -3.55% | 2.13% | |
53 Neutral | £2.58B | -76.48 | -1.13% | 0.02% | 9.24% | 64.97% | |
51 Neutral | £3.30B | -56.97 | -23.48% | ― | ― | ― | |
47 Neutral | £48.59M | -9.37 | 75.19% | ― | -5.90% | -146.37% |
* General Sector Average
GB:CAN
Canal+
268.00
22.14
9.01%
GB:BT.A
BT Group plc
202.20
-0.44
-0.22%
GB:ITV
ITV plc
73.35
-2.00
-2.66%
GB:STVG
STV Group plc
107.00
-22.00
-17.05%
GB:VOD
Vodafone
116.90
36.81
45.96%
GB:ZEG
Zegona Communications
1,478.00
625.62
73.40%
Canal+ Corporate Events
Business Operations and StrategyFinancial Disclosures
Canal+ lifts profit on MultiChoice integration and stronger cash flow
Positive
Jul 28, 2026
Canal+ reported a 40% rise in first-half 2026 revenue to €4.29 billion, largely driven by consolidating MultiChoice, while adjusted EBIT jumped 68% to €433 million and free cash flow improved on cash optimisation and favourable content...
Business Operations and Strategy
Canal+ Pledges €980m in Landmark Five-Year Deal to Bolster French Cinema
Positive
Jul 27, 2026
Canal+ has signed a landmark five-year agreement with key French film industry bodies to reinforce the role of cinema in France’s cultural model. The deal, covering Canal+ and CINÉ+ OCS from 2028, commits €980 million over five ye...
Executive/Board Changes
Canal+ announces immediate resignation of Supervisory Board member
Negative
Jul 16, 2026
Canal+ SA, listed primarily in London and secondarily on the JSE, is a diversified media and entertainment group spanning pay-TV, streaming, film and TV production, video platforms and telecom services across Europe, Africa and Asia. With around 1...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Canal+ executives increase stakes via employee share ownership plan
Positive
Jul 13, 2026
Canal+ SA has disclosed share acquisitions by two members of its Management Board, Anna Marsh and Amandine Ferré, through subscriptions to fund units of the company’s employee investment vehicle, the Fond Commun de Placement d’Ent...
Business Operations and StrategyDividends
Canal+ details tax, currency terms for €21.6m 2025 final dividend
Positive
Jun 8, 2026
Canal+ has confirmed the details of its 2025 final dividend of 2.2 euro cents per ordinary share, amounting to a total payout of about €21.6 million, funded roughly equally from retained earnings and distributable share premiums. The dividen...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Canal+ Bolsters Supervisory Board With Strategic Appointments in Europe and Africa
Positive
Jun 1, 2026
Canal+, the global media and entertainment group, has strengthened its supervisory board with the appointment of advertising veteran Mercedes Erra as a non-independent member and South African economist and governance expert Elias Masilela as an i...
Business Operations and StrategyExecutive/Board ChangesStock BuybackFinancial DisclosuresShareholder Meetings
Canal+ Wins Strong Shareholder Backing for Governance, Capital Flexibility at 2026 AGM
Positive
May 29, 2026
Canal+ shareholders approved all ordinary and extraordinary resolutions at the combined general meeting held in Paris on 29 May 2026, including the 2025 annual and consolidated financial statements and the allocation of distributable profit. The s...
Private Placements and FinancingRegulatory Filings and Compliance
Canal+ Files Final Memorandum for €700m Institutional Bond Issue
Positive
May 18, 2026
Canal+ has published the final information memorandum for its recently priced €700 million senior unsecured notes due 2032, which have been approved by the Luxembourg Stock Exchange and made available on both the company’s and the exch...
Business Operations and StrategyPrivate Placements and Financing
Canal+ Raises €700 Million in Oversubscribed Bond to Refinance Debt
Positive
May 13, 2026
Canal+ SA has successfully priced a €700 million senior unsecured bond issue maturing in 2032 with an annual coupon of 4.875%, its second bond transaction, which was 3.7 times oversubscribed and attracted a diversified, high-quality investor...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Canal+ Publishes Documents for Shareholders’ Meeting on New Articles
Positive
May 13, 2026
Canal+ SA, listed in London under the ticker CAN, has published the convening brochure for its Combined Shareholders’ General Meeting scheduled for 29 May 2026 at L’Olympia in Paris, which will also be broadcast live via its website to...
Business Operations and StrategyDelistings and Listing Changes
Canal+ secures fast-track secondary listing on Johannesburg Stock Exchange
Positive
May 12, 2026
Canal+, the global media and entertainment group listed in London, has secured approval for a fast-track inward secondary listing by way of introduction on the Johannesburg Stock Exchange, with trading set to begin on 3 June 2026. The company will...
Business Operations and StrategyPrivate Placements and Financing
Canal+ Lines Up Banks for Potential € Benchmark Bond to Refinance Bridge Loan
Positive
May 11, 2026
Canal+ S.A. has appointed a syndicate of major international banks to arrange fixed-income investor calls and release a pre-recorded presentation as it prepares the ground for a potential benchmark euro-denominated senior unsecured bond with a six...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.