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TFF GROUP (TFF.PA) Stock Fundamental Analysis

EPA:TFF - Euronext Paris - Matif - FR0013295789 - Common Stock - Currency: EUR

29  +2.1 (+7.81%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to TFF. TFF was compared to 13 industry peers in the Containers & Packaging industry. TFF has a medium profitability rating, but doesn't score so well on its financial health evaluation. TFF does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year TFF was profitable.
In the past year TFF had a positive cash flow from operations.
In the past 5 years TFF has always been profitable.
In multiple years TFF reported negative operating cash flow during the last 5 years.
TFF.PA Yearly Net Income VS EBIT VS OCF VS FCFTFF.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

With a Return On Assets value of 3.96%, TFF perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
TFF has a Return On Equity (8.00%) which is in line with its industry peers.
TFF's Return On Invested Capital of 6.90% is in line compared to the rest of the industry. TFF outperforms 50.00% of its industry peers.
Industry RankSector Rank
ROA 3.96%
ROE 8%
ROIC 6.9%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
TFF.PA Yearly ROA, ROE, ROICTFF.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

The Profit Margin of TFF (8.61%) is better than 83.33% of its industry peers.
TFF's Profit Margin has been stable in the last couple of years.
Looking at the Operating Margin, with a value of 17.14%, TFF belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
TFF's Operating Margin has improved in the last couple of years.
TFF has a Gross Margin (43.41%) which is comparable to the rest of the industry.
TFF's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 17.14%
PM (TTM) 8.61%
GM 43.41%
OM growth 3Y9.79%
OM growth 5Y4.16%
PM growth 3Y14.73%
PM growth 5Y0.49%
GM growth 3Y1.7%
GM growth 5Y1.6%
TFF.PA Yearly Profit, Operating, Gross MarginsTFF.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TFF is destroying value.
TFF has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
TFF.PA Yearly Shares OutstandingTFF.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M 20M
TFF.PA Yearly Total Debt VS Total AssetsTFF.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 200M 400M 600M

2.2 Solvency

TFF has an Altman-Z score of 2.47. This is not the best score and indicates that TFF is in the grey zone with still only limited risk for bankruptcy at the moment.
TFF has a Altman-Z score of 2.47. This is comparable to the rest of the industry: TFF outperforms 58.33% of its industry peers.
TFF has a Debt/Equity ratio of 0.55. This is a neutral value indicating TFF is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.55, TFF perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF N/A
Altman-Z 2.47
ROIC/WACC0.87
WACC7.96%
TFF.PA Yearly LT Debt VS Equity VS FCFTFF.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

2.3 Liquidity

A Current Ratio of 1.72 indicates that TFF should not have too much problems paying its short term obligations.
TFF has a Current ratio of 1.72. This is in the better half of the industry: TFF outperforms 66.67% of its industry peers.
A Quick Ratio of 0.55 indicates that TFF may have some problems paying its short term obligations.
TFF's Quick ratio of 0.55 is on the low side compared to the rest of the industry. TFF is outperformed by 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.72
Quick Ratio 0.55
TFF.PA Yearly Current Assets VS Current LiabilitesTFF.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 100M 200M 300M 400M

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3

3. Growth

3.1 Past

TFF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -26.90%.
The Earnings Per Share has been growing by 12.92% on average over the past years. This is quite good.
The Revenue has decreased by -1.90% in the past year.
TFF shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.36% yearly.
EPS 1Y (TTM)-26.9%
EPS 3Y41.23%
EPS 5Y12.92%
EPS Q2Q%-42.3%
Revenue 1Y (TTM)-1.9%
Revenue growth 3Y23.09%
Revenue growth 5Y12.36%
Sales Q2Q%-9.1%

3.2 Future

The Earnings Per Share is expected to decrease by -4.81% on average over the next years.
TFF is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.11% yearly.
EPS Next Y-39.17%
EPS Next 2Y-13.24%
EPS Next 3Y-4.81%
EPS Next 5YN/A
Revenue Next Year-9.64%
Revenue Next 2Y-1.91%
Revenue Next 3Y0.76%
Revenue Next 5Y3.11%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
TFF.PA Yearly Revenue VS EstimatesTFF.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M
TFF.PA Yearly EPS VS EstimatesTFF.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0.5 1 1.5 2 2.5

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3

4. Valuation

4.1 Price/Earnings Ratio

TFF is valuated correctly with a Price/Earnings ratio of 15.76.
The rest of the industry has a similar Price/Earnings ratio as TFF.
TFF's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.35.
With a Price/Forward Earnings ratio of 13.24, TFF is valued correctly.
TFF's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.10. TFF is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.76
Fwd PE 13.24
TFF.PA Price Earnings VS Forward Price EarningsTFF.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

TFF's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.69
TFF.PA Per share dataTFF.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

The decent profitability rating of TFF may justify a higher PE ratio.
A cheap valuation may be justified as TFF's earnings are expected to decrease with -4.81% in the coming years.
PEG (NY)N/A
PEG (5Y)1.22
EPS Next 2Y-13.24%
EPS Next 3Y-4.81%

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4

5. Dividend

5.1 Amount

TFF has a Yearly Dividend Yield of 2.23%. Purely for dividend investing, there may be better candidates out there.
TFF's Dividend Yield is slightly below the industry average, which is at 4.63.
Compared to an average S&P500 Dividend Yield of 2.33, TFF has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.23%

5.2 History

On average, the dividend of TFF grows each year by 11.98%, which is quite nice.
Dividend Growth(5Y)11.98%
Div Incr Years0
Div Non Decr Years1
TFF.PA Yearly Dividends per shareTFF.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2023 2024 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

TFF pays out 33.24% of its income as dividend. This is a sustainable payout ratio.
DP33.24%
EPS Next 2Y-13.24%
EPS Next 3Y-4.81%
TFF.PA Yearly Income VS Free CF VS DividendTFF.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M
TFF.PA Dividend Payout.TFF.PA Dividend Payout, showing the Payout Ratio.TFF.PA Dividend Payout.PayoutRetained Earnings

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TFF GROUP

EPA:TFF (3/7/2025, 7:00:00 PM)

29

+2.1 (+7.81%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryContainers & Packaging
Earnings (Last)01-09 2025-01-09
Earnings (Next)03-12 2025-03-12
Inst Owners7.74%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap628.72M
Analysts80
Price Target36.64 (26.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.23%
Yearly Dividend0.35
Dividend Growth(5Y)11.98%
DP33.24%
Div Incr Years0
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-23.09%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-22.36%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.18%
Valuation
Industry RankSector Rank
PE 15.76
Fwd PE 13.24
P/S 1.36
P/FCF N/A
P/OCF 44.17
P/B 1.26
P/tB 1.66
EV/EBITDA 7.69
EPS(TTM)1.84
EY6.34%
EPS(NY)2.19
Fwd EY7.55%
FCF(TTM)-1.07
FCFYN/A
OCF(TTM)0.66
OCFY2.26%
SpS21.33
BVpS22.97
TBVpS17.43
PEG (NY)N/A
PEG (5Y)1.22
Profitability
Industry RankSector Rank
ROA 3.96%
ROE 8%
ROCE 12.6%
ROIC 6.9%
ROICexc 7.73%
ROICexgc 9.25%
OM 17.14%
PM (TTM) 8.61%
GM 43.41%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y9.79%
OM growth 5Y4.16%
PM growth 3Y14.73%
PM growth 5Y0.49%
GM growth 3Y1.7%
GM growth 5Y1.6%
F-Score4
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF N/A
Debt/EBITDA 2.86
Cap/Depr 223.73%
Cap/Sales 8.1%
Interest Coverage 250
Cash Conversion 14.82%
Profit Quality N/A
Current Ratio 1.72
Quick Ratio 0.55
Altman-Z 2.47
F-Score4
WACC7.96%
ROIC/WACC0.87
Cap/Depr(3y)228.54%
Cap/Depr(5y)238.38%
Cap/Sales(3y)7.46%
Cap/Sales(5y)8.24%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-26.9%
EPS 3Y41.23%
EPS 5Y12.92%
EPS Q2Q%-42.3%
EPS Next Y-39.17%
EPS Next 2Y-13.24%
EPS Next 3Y-4.81%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.9%
Revenue growth 3Y23.09%
Revenue growth 5Y12.36%
Sales Q2Q%-9.1%
Revenue Next Year-9.64%
Revenue Next 2Y-1.91%
Revenue Next 3Y0.76%
Revenue Next 5Y3.11%
EBIT growth 1Y-9.62%
EBIT growth 3Y35.14%
EBIT growth 5Y17.04%
EBIT Next Year1.67%
EBIT Next 3Y8.73%
EBIT Next 5YN/A
FCF growth 1Y-658.53%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-17.77%
OCF growth 3Y-58.15%
OCF growth 5Y-6.84%