Atresmedia Corporación de Medios de Comunicación S.A.
🇪🇸 A3M.MC · Madrid · ES0109427734
Communication Services
EUR 4.91 price at analysis
Scores
Key Metrics
Powered by EODHDP/E (TTM)
17.9
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Calculation: 4.91 ÷ 0.28 = 17.9
TTM period through: 2025-12-31
Forward P/E (estimated): 8.3
Based on analyst estimates
Reference: Provider P/E (Trailing): 17.5
Yield (Fwd)
3.67%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Trailing Yield (TTM): 7.93%
Net Debt/EBITDA (TTM)
-0.5x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
TTM through: 2025-12-31
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
Payout (Fwd)
65.4%
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Payout (TTM): 235.7%
Cash Flow Payout (TTM): 179.5%
FCF Coverage (TTM): 0.45x
ROE
7.9%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
9.5x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Summary
Atresmedia is a leading Spanish media and broadcasting company facing structural headwinds in traditional television advertising. The exceptionally high 7.9% trailing yield is a value trap given the announced 59.9% dividend cut and severe lack of free cash flow coverage (0.45x). Not recommended for new positions, as the risks of secular decline heavily outweigh the benefits of its debt-free balance sheet.
Sector Context
Atresmedia operates primarily in television broadcasting, radio, and digital content production in Spain, generating the bulk of its revenue through advertising. The traditional linear TV industry is not an essential service and faces secular disruption from digital and streaming platforms, making its cash flows highly cyclical, inherently unpredictable, and unsuitable for conservative long-term dividend strategies.
📊 Strategy Analysis
- • Maintains an exceptionally strong balance sheet with a net cash position (Net Debt/EBITDA of -0.51x) and very low Debt/Equity (0.27), insulating the company from immediate insolvency risks.
⚠ What to Watch
- • Announced a massive 59.9% impending dividend cut (from €0.45 to €0.18) due to severe cash flow shortages, as Free Cash Flow covers only 0.45x of the previous dividend obligations.
- • Facing structural business decline evidenced by a 5-year EPS CAGR of -12.1% and stagnant 10-year revenue growth (-0.7%), indicating permanent technological disruption rather than cyclical weakness.
- • Valuation multiples are elevated relative to declining fundamentals, with a trailing P/E of 17.85x exceeding the strict 15x strategy threshold.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-04-04
Disclaimer: This information is for educational purposes only. Not financial advice.