Canal+ (GB:CAN)
LSE:CAN
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Canal+
(LSE:CAN)
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Rating:49Neutral
Price Target:
200.00 p
▼(-9.83% Downside)
Action:ReiteratedDate:04/02/26
The score is held back primarily by weak technicals (price below all key moving averages with negative MACD) and loss-making profitability (negative P/E and net losses). Offsetting these, cash flow improved materially in 2025 and leverage is better than earlier years, but higher 2025 debt and margin pressure keep the risk profile elevated.
Positive Factors
Improving cash generation and robust FCF
The company produced materially stronger operating and free cash flow in 2025, generating positive FCF despite net losses. Sustained FCF provides liquidity and financial flexibility to fund content, service investment or reduce leverage, supporting durable operational resilience.
Negative Factors
Persistent net losses and negative ROE
Net losses across 2023–2025 and a persistently negative ROE indicate the company has not yet converted top-line gains into shareholder returns. Prolonged losses constrain retained earnings, limit dividend or buyback capacity and may force continued external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation and robust FCF
The company produced materially stronger operating and free cash flow in 2025, generating positive FCF despite net losses. Sustained FCF provides liquidity and financial flexibility to fund content, service investment or reduce leverage, supporting durable operational resilience.
Read all positive factors
Canal+ (CAN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.17B
Dividend Yield0.65%
Average Volume (3M)993.71K
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth0.88%
EPS Growth-133.77%
CountryUK
Employees8,834
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)N/A
Shares Outstanding980,551,300
10 Day Avg. Volume770,630
30 Day Avg. Volume993,710
Financial Highlights & Ratios
PEG Ratio0.97
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
£314.00Price Target Upside41.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.27
Revenue Forecast (FY)£8.71B
Canal+ Business Overview & Revenue Model
Company Description
Canal+ SA provides television services, broadcasting and distribution. It operates through the following segments: Europe, Africa and Asia, and Content Production, Distribution and Other. The Europe segment consists of subscription-TV and advertis...
How the Company Makes Money
Canal+ primarily makes money from (1) subscription revenue for pay-TV and streaming offers. Customers pay recurring fees for access to Canal+ bundles (premium channels, sports and movie packages, and on-demand libraries) delivered via set-top boxe...
Canal+ Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
45
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.35B | 6.95B | 6.45B | 6.22B | 6.01B | 5.87B |
| Gross Profit | 2.17B | 3.07B | 2.55B | 2.50B | 2.46B | 2.44B |
| EBITDA | 326.44M | 675.00M | 485.00M | 661.00M | 716.00M | 697.00M |
| Net Income | -83.22M | -47.00M | -147.00M | -61.00M | 141.00M | 119.00M |
Balance Sheet | ||||||
| Total Assets | 8.89B | 12.29B | 9.37B | 8.91B | 8.60B | 7.68B |
| Cash, Cash Equivalents and Short-Term Investments | 582.00M | 830.00M | 378.00M | 429.00M | 284.00M | 212.00M |
| Total Debt | 798.00M | 3.34B | 951.00M | 4.45B | 3.89B | 3.21B |
| Total Liabilities | 3.80B | 8.64B | 4.32B | 7.77B | 7.42B | 6.71B |
| Stockholders Equity | 4.83B | 3.57B | 4.79B | 894.00M | 970.00M | 767.00M |
Cash Flow | ||||||
| Free Cash Flow | 288.46M | 412.00M | 131.00M | 199.00M | 69.00M | 284.00M |
| Operating Cash Flow | 532.16M | 709.00M | 413.00M | 500.00M | 405.00M | 654.00M |
| Investing Cash Flow | -292.36M | -1.46B | -871.00M | -743.00M | -819.00M | -539.00M |
| Financing Cash Flow | -60.43M | 1.18B | 495.00M | 299.00M | 505.00M | -75.00M |
Canal+ Technical Analysis
Negative
221.80
Price Trends
264.04
Negative
261.49
Negative
248.76
Negative
Market Momentum
-12.59
Negative
46.70
Neutral
86.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CAN, the sentiment is Negative. The current price of 221.8 is above the 20-day moving average (MA) of 206.21, below the 50-day MA of 264.04, and below the 200-day MA of 248.76, indicating a neutral trend. The MACD of -12.59 indicates Negative momentum. The RSI at 46.70 is Neutral, neither overbought nor oversold. The STOCH value of 86.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:CAN.
Canal+ Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £21.03B | 22.14 | 2.32% | 4.42% | -2.53% | 24.52% | |
64 Neutral | £2.87B | 13.98 | 11.42% | 6.17% | -3.07% | -54.90% | |
63 Neutral | £27.21B | 7.41 | -8.37% | 3.74% | 16.15% | -279.78% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | £3.96B | ― | -35.13% | ― | ― | ― | |
49 Neutral | £2.17B | -64.39 | -5.19% | 0.65% | 0.88% | -133.77% | |
43 Neutral | £46.72M | -9.71 | 75.19% | 9.87% | 2.23% | -25.75% |
* Communication Services Sector Average
GB:CAN
Canal+
221.80
66.00
42.36%
GB:BT.A
BT Group plc
215.85
57.03
35.91%
GB:ITV
ITV plc
76.90
10.03
15.00%
GB:STVG
STV Group plc
100.00
-56.01
-35.90%
GB:VOD
Vodafone
117.90
52.68
80.77%
GB:ZEG
Zegona Communications
1,736.00
1,184.25
214.64%
Canal+ Corporate Events
Regulatory Filings and Compliance
Canal+ Board Member Anna Marsh Increases Stake With Share Purchase
Positive
Mar 20, 2026
Canal+ SA disclosed that management board member Anna Marsh purchased 25,500 ordinary shares in the company on 18 March 2026. The transaction, carried out on the London Stock Exchange at an aggregate price of about GBP 51,596, was reported in line...
Regulatory Filings and Compliance
Canal+ Board Member Anna Marsh Buys Additional Shares
Positive
Mar 17, 2026
Canal+ SA disclosed that Management Board member Anna Marsh purchased 4,500 ordinary shares in the company on 12 March 2026, in a transaction conducted on the London Stock Exchange. The acquisition, valued at about GBP 10,228.50, was reported unde...
Regulatory Filings and Compliance
Canal+ Supervisory Board Member Buys Shares on London Stock Exchange
Positive
Mar 17, 2026
Canal+ SA disclosed that Supervisory Board member Xavier Mayer purchased 3,750 ordinary shares of the company on 16 March 2026. The transaction, carried out on the London Stock Exchange at a price of GBP 2.129 per share, was reported under UK Mark...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Canal+ Publishes 2025 Annual Report as MultiChoice Integration Advances
Positive
Mar 17, 2026
Canal+ SA, the global media and entertainment group listed in London, has published its Annual Report and Accounts for the financial year ended 31 December 2025, complying with UK listing and transparency rules. The document has been filed with th...
Regulatory Filings and Compliance
Canal+ Board Member Increases Stake With Share Purchase on LSE
Positive
Mar 12, 2026
Canal+ SA disclosed that Management Board member Amandine Ferré purchased 35,000 ordinary shares in the company on 11 March 2026, in a transaction executed on the London Stock Exchange. The acquisition, valued at about GBP 84,630.70 and repor...
Regulatory Filings and Compliance
Canal+ Board Member Maxime Saada Increases Stake With Share Purchase
Positive
Mar 12, 2026
Canal+ SA disclosed that Management Board member Maxime Saada purchased 35,700 ordinary shares in the company on 11 March 2026. The transaction, conducted on the London Stock Exchange at a total value of about GBP 87,436, was notified under UK Mar...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A Transactions
Canal+ Delivers Strong 2025 and Accelerates Strategy After MultiChoice Deal
Positive
Mar 11, 2026
Canal+ reported a strong and transformational 2025, its first full year as an independent listed company, achieving or exceeding guidance on revenue, profitability, and cash flow while improving its European margins and resolving major tax dispute...
Business Operations and StrategyProduct-Related Announcements
Canal+ Unit MultiChoice to Shut Showmax in Streaming Strategy Overhaul
Negative
Mar 5, 2026
Canal+ SA, the global media and entertainment group that recently took effective control of Africa-focused MultiChoice, is consolidating its position in the continent’s pay-TV and streaming markets through a broad portfolio spanning TV chann...
Business Operations and StrategyExecutive/Board Changes
Canal+ Board Member Arnaud de Puyfontaine to Chair SWI Capital Holding
Positive
Feb 27, 2026
Canal+ SA, the global media and entertainment group listed in London, has expanded its governance reach with the appointment of Arnaud de Puyfontaine, a non-executive member of its Supervisory Board, as non-executive director and chairman of SWI C...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Canal+ Targets Over €400m in Cost Synergies From MultiChoice Deal by 2030
Positive
Jan 29, 2026
Canal+ has outlined the financial and strategic impact of its acquisition of MultiChoice Group, projecting more than €400 million in EBITA and over €300 million in free cash flow in annual run-rate cost synergies from 2030, with meanin...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Canal+ Sets Date to Detail MultiChoice Synergies and Combined Group Strategy
Positive
Jan 26, 2026
Canal+ SA will announce the expected synergies from its acquisition of MultiChoice Group on 29 January 2026, accompanied by a webcast presentation and QA with senior management for investors and analysts. The company also plans to publish its full...
Business Operations and StrategyRegulatory Filings and Compliance
Canal+ Confirms Total Voting Rights at Year-End 2025
Neutral
Jan 2, 2026
Canal+ SA, the global media and entertainment company listed in London, reported that as of 31 December 2025 it had 991,959,494 ordinary shares in issue, of which 11,408,237 are held in treasury and therefore do not carry voting rights. This leave...
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.