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Deep Value: cash covers about 97% of the stock price

This company holds roughly $491M in cash and investments — about 97% of its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

NRJ Group S.A. logo

NRJ Group S.A.

NRG.PA
48
Broadcasting · Communication Services
Price
€6.50
+0.00 (+0.00%)
Market Cap
€503.2M
Exchange
Euronext Paris
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Exceptional

Winston Score History

The full picture

NRJ Group is a French media company that owns and operates radio and television channels in Europe. Its best-known brand is NRJ, one of the most-listened-to radio stations in France, targeting young audiences with pop and hit music. The group also runs other radio brands like Chérie FM and Nostalgie, plus several TV channels under the NRJ 12 banner.

The company earns most of its revenue from selling advertising time on its radio and TV platforms, making it dependent on the health of the broader advertising market. NRJ Group operates mainly in France, with some radio presence in other European countries like Germany and Scandinavia. Its brand recognition and established listener base give it a degree of stability, but the shift of advertising budgets toward digital and streaming platforms is a persistent long-term pressure on traditional broadcast media companies like this one.

Share count broadly stable

+1.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 77.4M (2021) → 78.1M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
3.1%
Thin — 3.1% operating margin
Return on the money invested
ROCE
3.5%
Weak — 3.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-11.6%
Shrinking sales (-11.6% YoY)
Profit growth
EPS YoY
+166.0%
Earnings growing fast (+166.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
91%
Modest — 91% of profit becomes cash
Spare cash per sale
FCF Margin
16.1%
Converts sales into free cash efficiently (16.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
4.14x
Adequate interest coverage (4.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
6.0x
Attractive valuation — P/E 6.0

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-10.8
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
6.04%
Healthy income — 6.04% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+74.3%
Dividend growing fast (74.3% YoY)

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