ProSiebenSat.1 Media SE

PSM.DE

Broadcasting · Communication Services

Price

€3.76

+0.01 (+0.21%)

Market Cap

€874.4M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Mixed

Stability

Mixed

Valuation

Data not available

Dividends

Weak

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Share count rising — dilution

+1.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 227.2M (2021) → 230.6M (2025)

Winston Score History

The full picture

ProSiebenSat.1 Media SE is a German media company that owns and operates several free-to-air television channels, including ProSieben, Sat.1, and Kabel Eins. These channels broadcast entertainment, news, and reality programming to millions of viewers across Germany, Austria, and Switzerland. It is one of the largest commercial broadcasting groups in the German-speaking world.

The company earns most of its revenue from selling advertising time on its TV channels, though it has also built a portfolio of digital and entertainment businesses, including online video platforms and commerce ventures. Operations are concentrated in the DACH region — Germany, Austria, and Switzerland. The core TV advertising business faces ongoing pressure as viewers shift to streaming services like Netflix and YouTube, reducing the audience that advertisers are willing to pay a premium to reach. Managing this structural decline in linear TV while growing its digital revenue streams is the central challenge the business faces.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-8.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+132.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

51.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€390M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

ProSiebenSat.1 Media SE's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

24.2%

Thin — 24.2% gross margin

Profit after running costs

Operating Margin

6.0%

Thin — 6.0% operating margin

Return on the money invested

ROCE

7.5%

Weak — 7.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-8.2%

Shrinking sales (-8.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

N/A

Data not available

Spare cash per sale

FCF Margin

23.5%

Converts sales into free cash efficiently (23.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

1.64

Elevated debt (1.64)

Covers its interest

Interest Cover

3.08x

Tight — interest eats into profit (3.1x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

1.29%

Small dividend — 1.29% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-95.5%

Dividend cut (-95.5% YoY) — warning sign

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