Loading…
Swiss media group publishing newspapers (Tages-Anzeiger, 20 Minuten) and operating online marketplaces and classifieds.
Swiss media group publishing newspapers (Tages-Anzeiger, 20 Minuten) and operating online marketplaces and classifieds.
Print and digital news is the largest part by revenue, but marketplaces such as classified ads for property, jobs and used goods earn far higher returns per franc, with advertising sold through Goldbach connecting both. Newspapers face shrinking print circulation, while the Coninx family keeps control.
In one line: A Swiss New York Times Co. plus a classifieds portfolio.
Moat: narrow (brand, network effects, scale). Leading Swiss news brands plus network effects across classifieds and marketplaces.
Headquarters: Zurich, Switzerland · Founded: 1893 · Employees: 2,874
Size TX Group AG (TXGN.SW) is a Switzerland Communication Services company (Publishing: Newspapers) with a market value of $2.43B, the 84th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 187.60 on 6 Nov 2026.
Performance Over six months the shares gained 54.0%, against -0.9% for the median peer and +11.6% for the Switzerland market (cap-weighted) — highest of 12 in its peer set.
Growth Revenue fell 6.6% over the last twelve months (peer median -0.2%); the operating margin is 3.9% (peer median 11.0%).
Valuation It trades at 35.4× forward earnings against a peer median of 15.8× (2nd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.0 points below its cost of capital (5.0% WACC).
Next results Next results expected around 9 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 847M | CHF 872M | CHF 941M | CHF 981M | CHF 922M |
| Revenue growth | — | -7% | -4% | +6% | — |
| Gross profit | CHF 219M | CHF 218M | CHF 209M | CHF 269M | CHF 230M |
| EBITDA | CHF 186M | CHF 162M | CHF 142M | CHF 191M | CHF 140M |
| Net income | -CHF 8.40M | CHF 8.60M | -CHF 3.20M | CHF 24.5M | -CHF 44.0M |
| Free cash flow | CHF 205M | CHF 182M | CHF 249M | CHF 176M | CHF 87.5M |
| Capital expenditure | CHF 29.3M | CHF 28.3M | CHF 34.5M | CHF 42.3M | CHF 33.2M |
| Total debt | n/a | CHF 208M | CHF 226M | CHF 263M | CHF 176M |
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.
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 | TXGN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.2% | -0.2% | highest of 12 |
| 6-month return | +54.0% | -0.9% | highest of 12 |
| Distance from 52-week high | -4.4% | -18.8% | highest of 12 |
| Revenue growth (TTM) | -6.6% | -0.2% | 3rd lowest of 12 |
| Operating margin | 3.9% | 11.0% | 4th lowest of 12 |
| Forward P/E | 35.4× | 15.8× | 2nd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 14.3% | 1.1% | 2nd most demanding of 12 |
| Growth delivered (Del g) | -1.3% | +1.2% | 4th lowest of 12 |
| Hurdle (Req g minus delivered) | +15.6 pp | -0.7 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | -4.0 pp | +0.3 pp | 3rd lowest of 11 |
| EV / EBITDA | 11.5× | 8.7× | 4th most expensive of 10 |
| Net debt / EBITDA | -0.4× | 0.8× | 4th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TX Group AG TXGN.SW | Switzerland | $2.43B | +54% | -7% | 4% | 35.4× | 14.3% | -1.3% |
| Sanoma SANOMA.HE | Finland | $1.61B | -1% | -1% | 13% | 11.5× | -7.6% | +4.2% |
| Alma Media ALMA.HE | Finland | $1.27B | +7% | +5% | 26% | 15.8× | 1.1% | +7.3% |
| USA TODAY TDAY | United States | $965M | -14% | -7% | 6% | 39.2× | 9.8% | -7.5% |
| Daily Journal DJCO | United States | $885M | +28% | +23% | 13% | n/a | 22.0% | +11.9% |
| Zhejiang Huamei 000607.SZ | China | $598M | -5% | +3% | -23% | n/a | -1.2% | -5.7% |
| New York Times NYT | United States | $11.0B | -14% | +11% | 17% | 21.9× | 8.9% | +9.6% |
| RCS MediaGroup RCS.MI | Italy | $484M | -15% | -3% | 8% | 7.6× | -5.9% | +1.0% |
| News Corp (Class A) NWSA | United States | $14.7B | -2% | +1% | 13% | 18.4× | 8.0% | -0.7% |
| Transcontinental TCL-A.TO | Canada | $338M | 0% | -43% | 11% | 5.0× | -12.6% | +1.3% |
| Caltagirone Editore CED.MI | Italy | $309M | +19% | -6% | -19% | n/a | -11.8% | -3.3% |
| Polaris Media POL.OL | Norway | $307M | +4% | 0% | 2% | n/a | 11.5% | +1.2% |