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Operates TF1, France's leading commercial television channel, plus digital and content production businesses.
Operates TF1, France's leading commercial television channel, plus digital and content production businesses.
Earns mostly from advertising sold around its channels, where audience size sets prices, plus income from its TF1+ streaming service and from producing and selling content through its production arm. Construction and media group Bouygues is its largest shareholder.
Moat: narrow (brand, regulatory licence, distribution). Leading French broadcast audience share and licensed spectrum are difficult for new entrants to replicate.
Headquarters: Boulogne-Billancourt, France · Founded: 1975 · Employees: 3,640
Size Television Francaise 1 (TFI.PA) is a France Communication Services company (Broadcasting) with a market value of $1.53B, the 118th largest of 206 France companies the cockpit tracks. Shares closed at €6.46 on 6 Nov 2026.
Performance Over six months the shares fell 6.0%, against -4.1% for the median peer and -0.4% for the France market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 2.5% over the last twelve months (peer median +1.3%); the operating margin is 8.3% (peer median 8.1%).
Valuation It trades at 14.7× forward earnings against a peer median of 13.5× (5th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points above its cost of capital (8.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | €2.30B | €2.36B | €2.30B | €2.51B |
| Revenue growth | — | -3% | +3% | -8% | — |
| Gross profit | n/a | €443M | €513M | €534M | €579M |
| EBITDA | n/a | €611M | €661M | €614M | €742M |
| Net income | n/a | €153M | €206M | €192M | €176M |
| Free cash flow | n/a | €103M | €166M | €339M | €145M |
| Capital expenditure | n/a | €358M | €321M | €299M | €313M |
| Total debt | n/a | €223M | €274M | €237M | €236M |
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 |
|---|---|---|---|---|---|---|
| Television Francaise 1 TFI.PA | $1.53B | -6% | -3% | 8% | 14.7× | -7.5% |
| Metropole Television MMT.PA | $1.60B | -4% | -2% | 11% | 12.5× | -0.9% |
| Vivendi VIV.PA | $1.81B | -22% | -98% | -31% | 29.9× | n/a |
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 | TFI.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.1% | +3.4% | 7th highest of 21 |
| 6-month return | -6.0% | -4.1% | 10th lowest of 21 |
| Distance from 52-week high | -22.6% | -32.2% | 6th highest of 21 |
| Revenue growth (TTM) | -2.5% | +1.3% | 8th lowest of 21 |
| Operating margin | 8.3% | 8.1% | 10th highest of 21 |
| Forward P/E | 14.7× | 13.5× | 5th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -7.5% | 2.0% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +2.0% | +3.9% | 7th lowest of 17 |
| Hurdle (Req g minus delivered) | -9.5 pp | +0.1 pp | 5th least demanding of 17 |
| ROIC minus cost of capital | +0.1 pp | -1.0 pp | 8th highest of 20 |
| EV / EBITDA | 1.7× | 8.1× | 2nd cheapest of 17 |
| Net debt / EBITDA | -0.6× | 0.6× | 9th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Television Francaise 1 TFI.PA | France | $1.53B | -6% | -3% | 8% | 14.7× | -7.5% | +2.0% |
| Atresmedia Corporacion de Medios de Comunicacion A3M.MC | Spain | $1.52B | +16% | +1% | 8% | 14.1× | 6.9% | +2.3% |
| Hebei Broadcasting Wireless Media 301551.SZ | China | $1.58B | -4% | -1% | 35% | n/a | 20.7% | -0.8% |
| Metropole Television MMT.PA | France | $1.60B | -4% | -2% | 11% | 12.5× | -0.9% | -0.3% |
| MFE-MediaForEurope MFEA.MI | Italy | $1.83B | -26% | +90% | 3% | 5.0× | 0.6% | +8.9% |
| Rai Way RWAY.MI | Italy | $1.27B | -28% | +3% | 44% | 12.9× | -10.3% | +4.8% |
| TV Asahi 9409.T | Japan | $2.15B | +3% | +4% | 7% | 14.5× | -0.9% | +5.1% |
| Sinclair SBGI | United States | $989M | -4% | -6% | 6% | 230.3× | 10.9% | -11.8% |
| Newsmax NMAX | United States | $948M | +16% | +11% | -7% | n/a | n/a | n/a |
| Sun TV Network SUNTV.NS | India | $2.48B | +4% | -5% | 38% | 14.2× | 9.5% | +6.4% |
| Nine Entertainment NEC.AX | Australia | $895M | -15% | -18% | 9% | 8.2× | 7.4% | -1.3% |
| Entravision Communications EVC | United States | $830M | +26% | +71% | 8% | n/a | 13.5% | +5.4% |
| SKY Perfect JSAT 9412.T | Japan | $3.13B | -50% | +8% | 30% | 17.2× | 6.2% | -1.8% |
| CJ ENM 035760.KS | South Korea | $706M | -15% | -3% | 2% | 30.0× | -5.1% | +8.7% |
| Zee Entertainment Enterprises ZEEL.NS | India | $651M | -32% | +6% | -1% | 14.3× | 1.8% | +0.9% |
| Fuji Media 4676.T | Japan | $3.62B | +2% | +9% | 3% | 12.1× | n/a | n/a |
| TV Tokyo 9413.T | Japan | $582M | -15% | +2% | 6% | 12.7× | -18.7% | +3.5% |
| Gray Media GTN | United States | $520M | +11% | -11% | 14% | 2.7× | 2.2% | +5.4% |
| Nippon Television 9404.T | Japan | $4.57B | -3% | +3% | 13% | 12.9× | -7.5% | +4.4% |
| NRJ NRG.PA | France | $509M | -18% | -12% | 8% | 16.0× | n/a | n/a |
| Network18 Media & Invest NETWORK18.NS | India | $438M | -23% | -23% | -3% | n/a | n/a | n/a |