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UK commercial broadcaster operating ITV TV channels, a streaming service (ITVX) and a content production studio.
UK commercial broadcaster operating ITV TV channels, a streaming service (ITVX) and a content production studio.
Broadcasting earns from advertising sold around its channels and ITVX, so earnings rise and fall with UK ad spending and audience share. ITV Studios produces shows for ITV and for other broadcasters and streamers and keeps rights to resell formats abroad, which makes it less dependent on UK advertising.
In one line: A UK broadcaster akin to a smaller Paramount/CBS.
Moat: narrow (brand, scale, installed base). Established national broadcast license and content-production scale, though ad-exposed.
Headquarters: London, UK · Founded: 1955
Size Itv (ITV.L) is a United Kingdom Communication Services company (Movies/Entertainment) with a market value of $3.23B, the 127th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £66.20 on 6 Nov 2026.
Performance Over six months the shares fell 16.1%, against +15.7% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +4.5%); the operating margin is 12.8% (peer median 8.5%).
Valuation It trades at 8.3× forward earnings against a peer median of 32.1× (2nd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.4 points above its cost of capital (9.6% WACC).
Credit Itv has 1 bond outstanding ($557M), rated BBB- by the agencies and trading like BBB- at a weighted spread of 147 bp.
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £3.53B | £3.51B | £3.49B | £3.62B | £3.73B |
| Revenue growth | — | +1% | -4% | -3% | — |
| Gross profit | £453M | £464M | £382M | £321M | £593M |
| EBITDA | £557M | £570M | £552M | £454M | £722M |
| Net income | £232M | £220M | £408M | £210M | £428M |
| Free cash flow | £201M | £176M | £320M | £354M | £270M |
| Capital expenditure | £63.0M | £54.0M | £49.0M | £70.0M | £78.0M |
| Total debt | n/a | £876M | £838M | £878M | £962M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Itv ITV.L | $3.23B | -16% | +2% | 13% | 8.3× | -2.8% |
| Comcast CMCSA | $86.6B | -3% | 0% | 15% | 7.2× | -6.4% |
| Paramount Skydance PSKY | n/a | 0% | n/a | n/a | n/a | n/a |
| Banijay BNJ.AS | $3.83B | -13% | +7% | 14% | 8.0× | -4.5% |
| Netflix NFLX | $260B | -28% | +15% | 32% | 17.7× | 15.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ITV.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.6% | +11.2% | 6th lowest of 21 |
| 6-month return | -16.1% | +15.7% | 2nd lowest of 21 |
| Distance from 52-week high | -24.2% | -14.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +1.6% | +4.5% | 10th lowest of 21 |
| Operating margin | 12.8% | 8.5% | 10th highest of 21 |
| Forward P/E | 8.3× | 32.1× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.8% | 5.3% | 4th least demanding of 15 |
| Growth delivered (Del g) | +4.8% | +16.7% | 2nd lowest of 15 |
| Hurdle (Req g minus delivered) | -7.6 pp | -14.6 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +4.4 pp | +0.5 pp | 7th highest of 21 |
| EV / EBITDA | 5.5× | 12.0× | cheapest of 11 |
| Net debt / EBITDA | 1.2× | 3.2× | 2nd least indebted of 12 |
| Bond spread | 147 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Itv ITV.L | United Kingdom | $3.23B | -16% | +2% | 13% | 8.3× | -2.8% | +4.8% |
| Atlanta Braves BATRA | United States | $3.23B | +1% | +6% | -9% | n/a | n/a | n/a |
| Ruyi Film Entertainment 002739.SZ | China | $2.94B | -9% | -8% | 3% | 34.1× | 6.7% | +15.4% |
| Madison Square Garden Entertainment MSGE | United States | $3.65B | +18% | +16% | 17% | 32.1× | 5.0% | +66.9% |
| AMC Entertainment AMC | United States | $2.80B | +109% | +6% | 5% | n/a | n/a | n/a |
| Zhejiang Huace Film & TV 300133.SZ | China | $2.79B | +15% | +44% | 8% | 50.4× | n/a | n/a |
| Toei 9605.T | Japan | $2.77B | +5% | +3% | 20% | 23.5× | -3.3% | +11.5% |
| Banijay BNJ.AS | Netherlands | $3.83B | -13% | +7% | 14% | 8.0× | -4.5% | +18.1% |
| Manchester United MANU | United States | $3.90B | +15% | +5% | -2% | 142.1× | 18.3% | +6.5% |
| China Star Entertainment 0326.HK | Hong Kong | $2.54B | -10% | -69% | -157% | n/a | n/a | n/a |
| Toei Animation 4816.T | Japan | $4.17B | +23% | -2% | 31% | 27.9× | 0.5% | +12.7% |
| Lionsgate Studios LION | United States | $4.24B | +16% | -8% | 6% | 52.8× | 18.6% | -8.0% |
| Shanghai Film 601595.SS | China | $2.40B | +47% | -18% | -2% | 264.9× | 57.0% | +24.4% |
| MSG Rangers MSGR | United States | $2.37B | +1,624% | +2% | -9% | n/a | n/a | n/a |
| Beijing Jetsen Technology 300182.SZ | China | $2.36B | +6% | -23% | 9% | 37.1× | n/a | n/a |
| Prime Focus PFOCUS.NS | India | $2.36B | -7% | +29% | 16% | n/a | 26.0% | +12.6% |
| China Film 600977.SS | China | $4.48B | +16% | 0% | -9% | 141.5× | -7.1% | +10.4% |
| Cinemark CNK | United States | $4.51B | +44% | +13% | 15% | 14.8× | 2.4% | +35.3% |
| ROUND ONE 4680.T | Japan | $2.22B | +42% | +21% | 15% | 16.3× | 4.3% | +25.5% |
| Songcheng Performance Development 300144.SZ | China | $2.17B | -29% | -15% | 37% | 20.8× | 5.6% | +20.1% |
| Benefit Systems BFT.WA | Poland | $5.18B | +54% | +40% | 19% | 23.7× | 13.4% | +34.3% |
Itv has 1 bond outstanding with $557M face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 4.52%, a spread of 147 bp over government bonds.