Financials Paramount Global Nasdaq

Equities

PARAA

US92556H1077

Broadcasting

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-01 pm EDT			5-day change	1st Jan Change
21.46 ^USD	+3.72%		-6.45%	+9.16%

May. 01	Telecoms Climb as Paramount Bounces Back -- Communications Services Roundup	DJ
May. 01	North American Morning Briefing : Traders Wait for -2-	DJ

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	25,962	23,028	19,669	11,069	9,833	8,545	-	-
Enterprise Value (EV) ¹	44,049	39,777	31,111	11,069	21,975	20,849	20,787	19,683
P/E ratio	7.83 x	9.51 x	4.35 x	10.5 x	-14.5 x	-41.8 x	9.38 x	6.9 x
Yield	1.86%	2.58%	3.18%	-	2.64%	1.63%	1.63%	1.63%
Capitalization / Revenue	0.93 x	0.91 x	0.69 x	0.37 x	0.33 x	0.28 x	0.28 x	0.27 x
EV / Revenue	1.58 x	1.57 x	1.09 x	0.37 x	0.74 x	0.68 x	0.68 x	0.62 x
EV / EBITDA	7.96 x	7.75 x	7 x	3.38 x	9.19 x	7.28 x	7.13 x	6.16 x
EV / FCF	50.2 x	20.2 x	51.9 x	-	392 x	68.8 x	34.7 x	21.8 x
FCF Yield	1.99%	4.95%	1.93%	-	0.25%	1.45%	2.88%	4.59%
Price to Book	1.95 x	1.5 x	0.86 x	-	0.43 x	0.36 x	0.35 x	0.34 x
Nbr of stocks (in thousands)	615,000	617,246	647,414	649,174	651,406	666,479	-	-
Reference price ²	41.97	37.26	30.18	16.88	14.79	12.26	12.26	12.26
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	27,812	25,285	28,586	30,154	29,652	30,540	30,737	31,616
EBITDA ¹	5,531	5,132	4,444	3,276	2,390	2,866	2,916	3,195
EBIT ¹	5,088	4,702	4,054	2,871	1,972	2,445	2,513	2,923
Operating Margin	18.29%	18.6%	14.18%	9.52%	6.65%	8.01%	8.18%	9.25%
Earnings before Tax (EBT) ¹	3,345	3,147	5,206	1,266	-1,253	239.6	1,568	1,843
Net income ¹	3,308	2,422	4,543	1,104	-608	-266.8	824.3	1,158
Net margin	11.89%	9.58%	15.89%	3.66%	-2.05%	-0.87%	2.68%	3.66%
EPS ²	5.360	3.920	6.940	1.610	-1.020	-0.2932	1.307	1.777
Free Cash Flow ¹	877	1,970	599	-	56	303.2	598.7	904.3
FCF margin	3.15%	7.79%	2.1%	-	0.19%	0.99%	1.95%	2.86%
FCF Conversion (EBITDA)	15.86%	38.39%	13.48%	-	2.34%	10.58%	20.53%	28.31%
FCF Conversion (Net income)	26.51%	81.34%	13.19%	-	-	-	72.63%	78.08%
Dividend per Share ²	0.7800	0.9600	0.9600	-	0.3900	0.2000	0.2000	0.1999
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	8,000	7,328	7,779	6,916	8,131	7,265	7,616	7,133	7,638	7,685	7,307	7,255	8,244	7,490	7,762
EBITDA ¹	557	913	963	786	614	548	606	716	520	987	591.2	725	639.3	905.2	658.8
EBIT ¹	456	817	869	694	491	448	501	611	412	887	493.8	631	478.6	819.4	-
Operating Margin	5.7%	11.15%	11.17%	10.03%	6.04%	6.17%	6.58%	8.57%	5.39%	11.54%	6.76%	8.7%	5.81%	10.94%	-
Earnings before Tax (EBT) ¹	2,417	470	519	323	-46	-1,463	-349	376	183	-635	277.3	442.5	311.6	523.3	432.9
Net income ¹	2,058	433	419	231	21	-1,118	-299	295	514	-554	78.54	221.1	98.28	495	447
Net margin	25.72%	5.91%	5.39%	3.34%	0.26%	-15.39%	-3.93%	4.14%	6.73%	-7.21%	1.07%	3.05%	1.19%	6.61%	5.76%
EPS ²	3.110	0.6400	0.6200	0.3300	0.0100	-1.740	-0.4800	0.4300	0.7700	-0.8700	0.1162	0.2878	0.1531	0.4667	0.1500
Dividend per Share ²	0.2400	0.2400	0.2400	0.2400	-	0.2400	0.0500	0.0500	0.0500	-	0.0500	0.0500	0.0500	0.0500	0.0500
Announcement Date	2/15/22	5/3/22	8/4/22	11/2/22	2/16/23	5/4/23	8/7/23	11/2/23	2/28/24	4/29/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	18,087	16,749	11,442	-	12,142	12,303	12,242	11,138
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.27 x	3.264 x	2.575 x	-	5.08 x	4.293 x	4.198 x	3.486 x
Free Cash Flow ¹	877	1,970	599	-	56	303	599	904
ROE (net income / shareholders' equity)	26.1%	18.2%	12.1%	-	1.76%	2.71%	3.63%	4.6%
ROA (Net income/ Total Assets)	6.57%	5.08%	4.12%	-	-1.09%	2.57%	2.27%	2.96%
Assets ¹	50,324	47,715	110,288	-	55,970	-10,367	36,257	39,074
Book Value Per Share ²	21.50	24.90	34.90	-	34.50	34.00	35.00	36.40
Cash Flow per Share ²	1.990	3.710	1.450	-	0.5900	0.9800	1.330	2.130
Capex ¹	353	324	354	-	328	304	332	331
Capex / Sales	1.27%	1.28%	1.24%	-	1.11%	0.99%	1.08%	1.05%
Announcement Date	2/20/20	2/24/21	2/15/22	2/16/23	2/28/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Paramount Global

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

12.26 USD

Average target price

13.65 USD

Spread / Average Target

+11.31%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Broadcasting

	1st Jan change	Capi.
WALT DISNEY COMPANY (THE)	+22.36%	204B
FORMULA ONE GROUP	+11.41%	16.21B
THE LIBERTY SIRIUSXM GROUP	-14.42%	7.87B
MBC GROUP	-.--%	4.7B
TBS HOLDINGS,INC.	+35.45%	4.26B
ITV PLC	+10.94%	3.51B
LIBERTY LIVE GROUP	-0.62%	3.38B
MULTICHOICE GROUP LIMITED	+48.65%	2.72B
FUJI MEDIA HOLDINGS, INC.	+19.13%	2.58B

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