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1. Company Snapshot

1.a. Company Description

TX Group AG operates a network of media and platforms that provides users with information, orientation, entertainment, and services in Switzerland.It operates through five divisions: TX Markets, Goldbach, 20 Minuten, Tamedia, and Group & Ventures.The company operates platforms in the areas of property, vehicles, marketplaces and financial services, as well as operates JobCloud, a job portal; multilanguage app; and video and photo, and internal sports news agencies.


It also provides TV, print, online, radio, out-of-home advertising, and performance marketing services, as well as third-party marketing services.In addition, the company offers paid-for daily and Sunday newspapers, magazines, and publishing services.Further, it provides Zattoo, a digital entertainment platform; and Doodle, an online scheduling platform, as well as fintech platforms.


The company was formerly known as Tamedia AG and changed its name to TX Group AG in January 2020.TX Group AG was founded in 1893 and is based in Zurich, Switzerland.

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1.b. Last Insights on TXGN

TX Group's recent performance has been impacted by its half-year 2025 earnings call results, which revealed a mixed bag. The company's decision to launch a share buyback program, allowing it to repurchase its own shares over the next three years, signals a focus on returning capital to shareholders. This move may indicate management's confidence in the company's prospects. However, investors are closely watching the company's progress, particularly in terms of its ability to execute on its strategic plans. TX Group's valuation is currently being reassessed by the market.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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TX Group AG (VTX:TXGN) insiders have significant skin in the game with 49% ownership

Nov -25

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Sep -25

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.80%)

6. Segments

Tamedia

Expected Growth: 2.5%

Tamedia's 2.5% growth is driven by increasing digital advertising revenue, expansion of online classifieds, and strategic acquisitions. Additionally, the company's focus on digital transformation, cost optimization, and investments in data analytics have contributed to its growth. Furthermore, the Swiss media market's stability and Tamedia's strong brand portfolio have also supported its growth momentum.

Goldbach

Expected Growth: 9.27%

Goldbach's 9.27% growth is driven by increasing demand for digital advertising solutions, strategic acquisitions, and expansion into new markets. The company's strong brand portfolio, innovative product offerings, and growing presence in the TX Group AG ecosystem also contribute to its growth momentum.

TX Markets

Expected Growth: 10.27%

TX Markets' 10.27% growth is driven by increasing demand for digital media, strategic acquisitions, and expansion into new markets. The company's strong brand portfolio, including TX Markets and 20 Minuten, has enabled it to capitalize on the growing online advertising market. Additionally, its focus on digital transformation and investment in data analytics has improved operational efficiency and enhanced customer engagement.

20 Minuten

Expected Growth: 2.5%

20 Minuten's 2.5% growth is driven by increasing online advertising revenue, rising circulation numbers, and strategic cost management. The TX Group AG's diversification into digital media and strong brand recognition also contribute to its growth. Additionally, the Swiss market's stable economy and high consumer spending power support the segment's expansion.

Group and Ventures

Expected Growth: 10.98%

TX Group AG's Group and Ventures segment growth of 10.98% is driven by increasing demand for digital media and online services, strategic acquisitions, and expansion into new markets. Additionally, the company's focus on innovation, cost optimization, and operational efficiency have contributed to the segment's growth.

7. Detailed Products

20 Minuten

A free daily newspaper in Switzerland, providing news, entertainment, and lifestyle content to a wide audience.

Tamedia Advertising

A digital advertising platform offering targeted online advertising solutions for businesses in Switzerland.

Homegate

A leading online real estate platform in Switzerland, providing property listings and services for buyers, sellers, and renters.

Carforall

A digital marketplace for buying and selling new and used cars in Switzerland.

Ricardo

A popular online marketplace in Switzerland for buying and selling new and used goods.

Tamedia Data

A data analytics and insights platform providing businesses with actionable data-driven solutions.

8. TX Group AG's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for TX Group AG is moderate, as there are alternative media platforms and advertising channels available to customers.

Bargaining Power Of Customers

The bargaining power of customers is low, as TX Group AG has a diverse customer base and is not dependent on a single customer.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate, as TX Group AG relies on a few large suppliers for its media and advertising services.

Threat Of New Entrants

The threat of new entrants is high, as the media and advertising industry is constantly evolving and new players can easily enter the market.

Intensity Of Rivalry

The intensity of rivalry is high, as TX Group AG operates in a highly competitive market with many established players.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 3.41%
Debt Cost 5.36%
Equity Weight 96.59%
Equity Cost 7.53%
WACC 7.45%
Leverage 3.53%

11. Quality Control: TX Group AG passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
RCS MediaGroup

A-Score: 7.5/10

Value: 8.5

Growth: 3.7

Quality: 6.9

Yield: 9.4

Momentum: 8.5

Volatility: 8.0

1-Year Total Return ->

Stock-Card
Alma Media

A-Score: 5.7/10

Value: 2.8

Growth: 4.6

Quality: 7.8

Yield: 6.2

Momentum: 8.0

Volatility: 5.0

1-Year Total Return ->

Stock-Card
TX Group

A-Score: 5.4/10

Value: 6.6

Growth: 2.6

Quality: 4.1

Yield: 4.4

Momentum: 9.0

Volatility: 6.0

1-Year Total Return ->

Stock-Card
Bloomsbury Publishing

A-Score: 5.0/10

Value: 6.0

Growth: 7.4

Quality: 7.0

Yield: 5.6

Momentum: 0.5

Volatility: 3.3

1-Year Total Return ->

Stock-Card
Storytel

A-Score: 4.6/10

Value: 4.1

Growth: 6.7

Quality: 6.7

Yield: 1.2

Momentum: 7.5

Volatility: 1.7

1-Year Total Return ->

Stock-Card
Future

A-Score: 4.5/10

Value: 8.9

Growth: 7.3

Quality: 6.9

Yield: 0.6

Momentum: 1.0

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

171.0$

Current Price

171$

Potential

-0.00%

Expected Cash-Flows