| Valuation method | Value, CHF | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 166.73 | 0 |
| Intrinsic value (DCF) | 98.18 | -41 |
| Graham-Dodd Method | 63.92 | -62 |
| Graham Formula | n/a |
TX Group AG is a leading Swiss media and digital platform company, operating across multiple segments including publishing, advertising, job portals, and fintech services. Headquartered in Zurich, the company serves as a key information and entertainment provider in Switzerland through its divisions: TX Markets, Goldbach, 20 Minuten, Tamedia, and Group & Ventures. TX Group owns prominent platforms such as JobCloud, Zattoo (a digital entertainment service), and Doodle (an online scheduling tool), alongside traditional media assets like newspapers and magazines. With a history dating back to 1893, the company has evolved from its roots as Tamedia AG into a diversified digital-first media conglomerate. Its revenue streams span advertising, subscriptions, and digital services, positioning it at the intersection of Switzerland’s media and tech ecosystems. Despite industry headwinds in traditional publishing, TX Group maintains a strong market presence through its hybrid digital and print strategy.
TX Group AG presents a mixed investment case. On the positive side, its diversified digital platforms (JobCloud, Zattoo, Doodle) provide growth potential in Switzerland’s evolving media landscape, while its stable advertising and publishing segments offer cash flow resilience. The company’s CHF 4.8 dividend per share suggests a commitment to shareholder returns, supported by a solid operating cash flow of CHF 266.7 million. However, a net loss of CHF 3.2 million in the latest fiscal year and exposure to declining print media raise concerns. The stock’s low beta (0.617) indicates lower volatility relative to the market, which may appeal to conservative investors. Key risks include digital disruption in advertising, competition from global tech players, and structural declines in print revenue. Investors should weigh its strong Swiss market position against sector-wide challenges.
TX Group AG holds a dominant position in Switzerland’s media and digital services market, leveraging its well-established brands and local expertise. Its competitive advantage lies in its integrated ecosystem—combining traditional media (newspapers, magazines) with digital platforms (JobCloud, Zattoo, Doodle), which creates cross-promotional opportunities and diversified revenue streams. The company’s ownership of 20 Minuten, Switzerland’s leading free daily newspaper, ensures broad reach in advertising. However, its reliance on the Swiss market limits geographic diversification, exposing it to local economic conditions. While TX Group competes effectively against local publishers, it faces pressure from global digital giants like Google and Meta in advertising, as well as LinkedIn in job listings. Its fintech and scheduling tools (Doodle) differentiate it from pure-play media rivals, but scaling these digitally native services against international competitors remains a challenge. The company’s ability to monetize its digital assets while managing print declines will be critical to maintaining its competitive edge.