(MMT) Métropole Télévision S.A. - Overview
Sector: Communication Services | Industry: Broadcasting | Exchange: PA (France) | Market Cap: 1.540m EUR | Total Return: 1.8% in 12m
Industry Rotation: +4.6
Avg Turnover: 1.95M EUR
Peers RS (IBD): 30.6
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Métropole Télévision S.A. (MMT) is a French multimedia group with operations across several segments: Video, Audio, Production and Audiovisual Rights, and Diversification.
The companys Video segment includes free-to-air channels (M6, W9, 6TER, Gulli), pay channels (Paris Première, Téva, sérieclub, Canal J, Tiji, M6 Music, MCM Top, RFM TV), and non-linear TV services (M6+, M6+ Max, Gulli Max, Gulli Replay). This segment also produces current affairs magazines.
The Audio segment operates radio stations like RTL, RTL2, and Fun Radio. Broadcast media companies often diversify revenue streams beyond traditional advertising, such as through subscription services and content syndication.
The Production and Audiovisual Rights segment focuses on film production for various platforms and the distribution of audiovisual rights. This is a common strategy in the media industry to leverage content across multiple channels and geographies.
MMTs Diversification segment encompasses a broad range of activities, including property franchisees, technical platforms, digital production, animated feature film production, film distribution, internet content provision, estate agency, sports, event production, print publication, childrens play centers, and cinematographic work development. This wide diversification aims to mitigate risks associated with the cyclical nature of advertising revenue.
Further research on ValueRay can provide detailed financial metrics and competitive analysis for MMT.
- Advertising revenue from free-to-air channels impacts profitability
- Subscription growth for pay channels boosts recurring income
- Regulatory changes in French media sector pose compliance risks
- Economic downturn reduces advertising spend and consumer subscriptions
- Content production costs directly affect operating margins
| Net Income: 221.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA 4.77 > 1.0 |
| NWC/Revenue: 24.60% < 20% (prev 43.52%; Δ -18.92% < -1%) |
| CFO/TA 0.17 > 3% & CFO 338.4m > Net Income 221.7m |
| Net Debt (-110.5m) to EBITDA (399.8m): -0.28 < 3 |
| Current Ratio: 1.79 > 1.5 & < 3 |
| Outstanding Shares: last quarter (126.4m) vs 12m ago 0.52% < -2% |
| Gross Margin: 22.09% > 18% (prev 0.40%; Δ 2.17k% > 0.5%) |
| Asset Turnover: 93.79% > 50% (prev 65.61%; Δ 28.18% > 0%) |
| Interest Coverage Ratio: 93.21 > 6 (EBITDA TTM 399.8m / Interest Expense TTM 3.30m) |
| A: 0.23 (Total Current Assets 1.06b - Total Current Liabilities 592.1m) / Total Assets 2.01b |
| B: 0.06 (Retained Earnings 123.4m / Total Assets 2.01b) |
| C: 0.15 (EBIT TTM 307.6m / Avg Total Assets 2.04b) |
| D: 2.00 (Book Value of Equity 1.42b / Total Liabilities 708.1m) |
| Altman-Z'' Score: 4.84 = AA |
| DSRI: 0.70 (Receivables 274.1m/277.8m, Revenue 1.91b/1.35b) |
| GMI: 1.80 (GM 22.09% / 39.69%) |
| AQI: 1.05 (AQ_t 0.42 / AQ_t-1 0.40) |
| SGI: 1.41 (Revenue 1.91b / 1.35b) |
| TATA: -0.06 (NI 221.7m - CFO 338.4m) / TA 2.01b) |
| Beneish M-Score: -2.29 (Cap -4..+1) = BBB |
Over the past week, the price has changed by +4.57%, over one month by +6.92%, over three months by +5.28% and over the past year by +1.78%.
| Analysts Target Price | - | - |
P/E Trailing = 12.5102
P/E Forward = 12.9032
P/S = 1.2262
P/B = 1.1935
P/EG = 3.7724
Revenue TTM = 1.91b EUR
EBIT TTM = 307.6m EUR
EBITDA TTM = 399.8m EUR
Long Term Debt = 4.20m EUR (from longTermDebt, last quarter)
Short Term Debt = 87.8m EUR (from shortTermDebt, last quarter)
Debt = 105.5m EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = -110.5m EUR (from netDebt column, last quarter)
Enterprise Value = 1.43b EUR (1.54b + Debt 105.5m - CCE 216.0m)
Interest Coverage Ratio = 93.21 (Ebit TTM 307.6m / Interest Expense TTM 3.30m)
EV/FCF = 4.56x (Enterprise Value 1.43b / FCF TTM 313.8m)
FCF Yield = 21.95% (FCF TTM 313.8m / Enterprise Value 1.43b)
FCF Margin = 16.43% (FCF TTM 313.8m / Revenue TTM 1.91b)
Net Margin = 11.61% (Net Income TTM 221.7m / Revenue TTM 1.91b)
Gross Margin = 22.09% ((Revenue TTM 1.91b - Cost of Revenue TTM 1.49b) / Revenue TTM)
Gross Margin QoQ = 18.66% (prev 19.58%)
Tobins Q-Ratio = 0.71 (Enterprise Value 1.43b / Total Assets 2.01b)
Interest Expense / Debt = 1.04% (Interest Expense 1.10m / Debt 105.5m)
Taxrate = 6.20% (4.00m / 64.5m)
NOPAT = 288.5m (EBIT 307.6m * (1 - 6.20%))
Current Ratio = 1.79 (Total Current Assets 1.06b / Total Current Liabilities 592.1m)
Debt / Equity = 0.08 (Debt 105.5m / totalStockholderEquity, last quarter 1.29b)
Debt / EBITDA = -0.28 (Net Debt -110.5m / EBITDA 399.8m)
Debt / FCF = -0.35 (Net Debt -110.5m / FCF TTM 313.8m)
Total Stockholder Equity = 1.27b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.89% (Net Income 221.7m / Total Assets 2.01b)
RoE = 17.48% (Net Income TTM 221.7m / Total Stockholder Equity 1.27b)
RoCE = 24.17% (EBIT 307.6m / Capital Employed (Equity 1.27b + L.T.Debt 4.20m))
RoIC = 21.18% (NOPAT 288.5m / Invested Capital 1.36b)
WACC = 6.16% (E(1.54b)/V(1.65b) * Re(6.51%) + D(105.5m)/V(1.65b) * Rd(1.04%) * (1-Tc(0.06)))
Discount Rate = 6.51% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 0.04%
[DCF] Terminal Value 84.17% ; FCFF base≈277.2m ; Y1≈242.2m ; Y5≈196.0m
[DCF] Fair Price = 45.76 (EV 5.64b - Net Debt -110.5m = Equity 5.75b / Shares 125.6m; r=6.16% [WACC]; 5y FCF grow -15.48% → 3.0% )
EPS Correlation: -38.73 | EPS CAGR: -47.24% | SUE: 0.0 | # QB: 0
Revenue Correlation: -70.34 | Revenue CAGR: -8.59% | SUE: -0.00 | # QB: 0
EPS current Year (2026-12-31): EPS=0.91 | Chg7d=+0.003 | Chg30d=+0.003 | Revisions Net=-1 | Growth EPS=-14.3% | Growth Revenue=+2.6%
EPS next Year (2027-12-31): EPS=1.27 | Chg7d=-0.008 | Chg30d=-0.008 | Revisions Net=-4 | Growth EPS=+40.3% | Growth Revenue=-2.5%
[Analyst] Revisions Ratio: -0.20 (2 Up / 3 Down within 30d for Current Year)
[Growth] Implied Growth Rate = -0.1% (Discount Rate 7.9% - Earnings Yield 8.0%)
[Growth] Growth Spread = -2.4% (Analyst -2.5% - Implied -0.1%)