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Tribune Media

DB:TM9
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TM9
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Media
Company description

Tribune Media Company, through its subsidiaries, operates as a diversified media and entertainment company in the United States. The last earnings update was 40 days ago. More info.


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TM9 Share Price and Events
7 Day Returns
-0.8%
DB:TM9
-0.1%
DE Media
0.4%
DE Market
1 Year Returns
29.6%
DB:TM9
-13.5%
DE Media
-4.5%
DE Market
TM9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tribune Media (TM9) -0.8% 0.7% 2.9% 29.6% 36.7% -
DE Media -0.1% 5.7% 1.5% -13.5% -26.1% -13.2%
DE Market 0.4% 6.4% 0.9% -4.5% 8.3% 14%
1 Year Return vs Industry and Market
  • TM9 outperformed the Media industry which returned -13.5% over the past year.
  • TM9 outperformed the Market in Germany which returned -4.5% over the past year.
Price Volatility
TM9
Industry
5yr Volatility vs Market

Value

 Is Tribune Media undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tribune Media to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tribune Media.

DB:TM9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TM9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.757 (1 + (1- 21%) (76.17%))
1.142
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.142 * 5.96%)
7.04%

Discounted Cash Flow Calculation for DB:TM9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tribune Media is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:TM9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.04%)
2020 295.49 Analyst x1 276.07
2021 384.00 Analyst x1 335.18
2022 486.30 Analyst x1 396.57
2023 560.30 Est @ 15.22% 426.88
2024 620.37 Est @ 10.72% 441.57
2025 667.35 Est @ 7.57% 443.79
2026 703.18 Est @ 5.37% 436.88
2027 730.09 Est @ 3.83% 423.78
2028 750.15 Est @ 2.75% 406.80
2029 765.09 Est @ 1.99% 387.63
Present value of next 10 years cash flows $3,975.00
DB:TM9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $765.09 × (1 + 0.23%) ÷ (7.04% – 0.23%)
$11,263.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,263.80 ÷ (1 + 7.04%)10
$5,706.76
DB:TM9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,975.00 + $5,706.76
$9,681.76
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,681.76 / 88.41
$109.52
DB:TM9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TM9 represents 0.89702x of NYSE:TRCO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89702x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 109.52 x 0.89702
€98.24
Value per share (EUR) From above. €98.24
Current discount Discount to share price of €41.86
= -1 x (€41.86 - €98.24) / €98.24
57.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tribune Media is available for.
Intrinsic value
>50%
Share price is €41.86 vs Future cash flow value of €98.24
Current Discount Checks
For Tribune Media to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tribune Media's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tribune Media's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tribune Media's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tribune Media's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TM9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $4.14
NYSE:TRCO Share Price ** NYSE (2019-09-18) in USD $46.66
Germany Media Industry PE Ratio Median Figure of 13 Publicly-Listed Media Companies 26.67x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.12x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tribune Media.

DB:TM9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:TRCO Share Price ÷ EPS (both in USD)

= 46.66 ÷ 4.14

11.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tribune Media is good value based on earnings compared to the DE Media industry average.
  • Tribune Media is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Tribune Media's expected growth come at a high price?
Raw Data
DB:TM9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-8.1%per year
Germany Media Industry PEG Ratio Median Figure of 8 Publicly-Listed Media Companies 2.23x
Germany Market PEG Ratio Median Figure of 266 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

DB:TM9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.28x ÷ -8.1%

-1.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tribune Media earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tribune Media's assets?
Raw Data
DB:TM9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $41.41
NYSE:TRCO Share Price * NYSE (2019-09-18) in USD $46.66
Germany Media Industry PB Ratio Median Figure of 14 Publicly-Listed Media Companies 3.13x
Germany Market PB Ratio Median Figure of 593 Publicly-Listed Companies 1.74x
DB:TM9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:TRCO Share Price ÷ Book Value per Share (both in USD)

= 46.66 ÷ 41.41

1.13x

* Primary Listing of Tribune Media.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tribune Media is good value based on assets compared to the DE Media industry average.
X
Value checks
We assess Tribune Media's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Media industry average (and greater than 0)? (1 check)
  5. Tribune Media has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Tribune Media expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-8.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tribune Media expected to grow at an attractive rate?
  • Tribune Media's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Tribune Media's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Tribune Media's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TM9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TM9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -8.1%
DB:TM9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.6%
Germany Media Industry Earnings Growth Rate Market Cap Weighted Average 7.5%
Germany Media Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TM9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TM9 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,217 293 1
2021-12-31 2,018 195 2
2020-12-31 2,120 339 3
2019-12-31 1,933 593 284 2
2019-09-18
DB:TM9 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 2,016 459 364
2019-03-31 2,021 469 384
2018-12-31 2,010 469 412
2018-09-30 1,920 358 609
2018-06-30 1,873 321 536
2018-03-31 1,853 305 422
2017-12-31 1,849 223 180
2017-09-30 1,890 269 -79
2017-06-30 1,909 166 93
2017-03-31 1,919 237 -29
2016-12-31 1,948 284 87
2016-09-30 1,757 205 -360

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tribune Media's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Tribune Media's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TM9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Tribune Media Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TM9 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.34 3.34 3.34 1.00
2021-12-31 2.33 2.43 2.22 2.00
2020-12-31 3.52 3.87 3.12 3.00
2019-12-31 3.19 3.19 3.19 1.00
2019-09-18
DB:TM9 Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 4.14
2019-03-31 4.38
2018-12-31 4.71
2018-09-30 6.96
2018-06-30 6.13
2018-03-31 4.83
2017-12-31 2.06
2017-09-30 -0.91
2017-06-30 1.07
2017-03-31 -0.33
2016-12-31 0.96
2016-09-30 -3.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tribune Media is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tribune Media's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tribune Media has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Tribune Media performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tribune Media's growth in the last year to its industry (Media).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tribune Media's year on year earnings growth rate has been positive over the past 5 years.
  • Tribune Media's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Tribune Media's 1-year earnings growth is negative, it can't be compared to the DE Media industry average.
Earnings and Revenue History
Tribune Media's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tribune Media Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TM9 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 2,015.77 363.68 539.85
2019-03-31 2,021.09 384.46 533.56
2018-12-31 2,009.73 412.43 529.80
2018-09-30 1,920.00 608.96 512.03
2018-06-30 1,872.53 536.18 485.39
2018-03-31 1,852.68 421.93 513.07
2017-12-31 1,848.96 179.55 537.06
2017-09-30 1,889.58 -79.09 549.17
2017-06-30 1,909.09 93.41 578.39
2017-03-31 1,919.37 -29.41 573.18
2016-12-31 1,947.93 86.88 577.12
2016-09-30 1,757.42 -359.56 509.23
2016-06-30 1,775.97 -485.76 519.98
2016-03-31 1,797.70 -336.32 540.74
2015-12-31 1,801.97 -315.66 538.42
2015-09-30 2,016.28 364.70 578.14
2015-06-30 2,002.54 389.16 576.51
2015-03-29 1,975.99 456.14 584.19
2014-12-28 1,780.63 460.56 515.15
2014-09-28 1,695.50 273.34 535.13
2014-06-29 1,501.25 255.25 455.08
2014-03-30 888.31 215.48 227.65
2013-12-29 1,147.24 237.94 290.45
2013-09-29 -193.35 151.35 -51.19
2013-06-30 254.72 86.80 87.68
2013-03-31 3,120.31 372.45 862.19
2012-12-30 1,232.85 283.64 386.43
2012-09-23 3,122.70 434.38 867.33

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tribune Media has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tribune Media used its assets more efficiently than the DE Media industry average last year based on Return on Assets.
  • Tribune Media has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tribune Media's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tribune Media has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Tribune Media's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tribune Media's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tribune Media is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tribune Media's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Tribune Media's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tribune Media Company Filings, last reported 2 months ago.

DB:TM9 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 3,666.52 2,929.52 1,314.11
2019-03-31 3,625.77 2,927.79 1,294.25
2018-12-31 3,523.10 2,926.08 1,063.04
2018-09-30 3,458.56 2,924.34 887.75
2018-06-30 3,411.38 2,922.60 828.85
2018-03-31 3,345.14 2,921.48 795.44
2017-12-31 3,217.18 2,919.19 673.69
2017-09-30 2,889.38 2,923.45 602.74
2017-06-30 2,923.08 3,034.66 380.57
2017-03-31 2,957.57 3,034.27 346.22
2016-12-31 3,545.68 3,411.55 577.66
2016-09-30 3,631.00 3,415.76 643.70
2016-06-30 3,583.93 3,420.01 366.64
2016-03-31 3,814.84 3,424.46 324.64
2015-12-31 3,831.72 3,429.35 247.82
2015-09-30 4,302.46 3,485.65 350.32
2015-06-30 4,375.15 3,492.27 403.51
2015-03-29 4,415.52 3,494.22 1,171.83
2014-12-28 5,195.43 3,494.93 1,455.18
2014-09-28 5,129.37 3,495.64 756.65
2014-06-29 5,062.70 3,780.68 851.22
2014-03-30 4,973.58 3,790.82 723.65
2013-12-29 4,925.56 3,962.75 640.70
2013-09-29 4,714.90 1,084.55 697.11
2013-06-30 4,661.74 1,084.20 630.91
2013-03-31 4,593.79 1,090.63 554.38
2012-12-30 -8,018.35 12,585.15 2,284.43
2012-09-23 -8,237.77 0.00 2,042.71
  • Tribune Media's level of debt (79.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (74.3% vs 79.9% today).
  • Debt is not well covered by operating cash flow (15.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Tribune Media's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tribune Media has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Tribune Media's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.14%
Current annual income from Tribune Media dividends. Estimated to be 2.34% next year.
If you bought €2,000 of Tribune Media shares you are expected to receive €43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tribune Media's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.4%).
  • Tribune Media's dividend is below the markets top 25% of dividend payers in Germany (3.9%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TM9 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Media Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 5.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TM9 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.16 1.00
2021-12-31 1.16 2.00
2020-12-31 1.05 3.00
2019-12-31 1.02 1.00
2019-09-18
DB:TM9 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-09 1.000 2.147
2019-05-10 1.000 2.159
2019-03-01 1.000 2.165
2018-11-09 1.000 2.264
2018-08-09 1.000 2.679
2018-03-01 1.000 2.658
2017-08-09 1.000 2.419
2017-05-10 1.000 2.471
2017-03-01 1.000 2.631
2016-11-09 1.000 3.045
2016-08-09 1.000 2.799
2016-05-10 1.000 2.597
2015-11-10 1.000 2.838
2015-07-31 1.000 2.518
2015-03-11 1.000 1.783

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Tribune Media has been paying a dividend for less than 10 years.
  • Tribune Media has only been paying a dividend for 5 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Tribune Media's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Tribune Media's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tribune Media afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tribune Media has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Tribune Media's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Kern
COMPENSATION $8,411,000
AGE 51
TENURE AS CEO 2.5 years
CEO Bio

Mr. Peter M. Kern is a Co-Founder, Managing Partner and Co-Managing Partner at InterMedia Advisors, LLC. Mr. Kern has been Chief Executive Officer at Tribune Media Company since March 1, 2017. He is Managing Partner of Intermedia Partners VII, L.P. and Gato Investments LP. He is Vice Chairman of Expedia Group, Inc. since June 20, 2018 and Director since August 9, 2005. From 1996 until its sale, Mr. Kern also served as a partner of InterMedia Partners, LLC. He served as a Partner at InterMedia Advisors, LLC. He has spent more than 25 years as an executive, investor, mergers and acquisitions adviser, advising and operating media companies in the cable, broadcast, digital and publishing industries. He serves as the Interim Chief Operating Officer for Tribune Media. He was employed at Alpine Equity Partners L.P. He served as Senior Managing Director and Principal at Alpine Capital LLC, which he joined in 2001. At Alpine he was responsible for direct investing in media companies. He was employed at Alpine Capital Group LLC. Mr. Kern founded Gemini Associates Inc. in 1996 and also served as its President since April 1996. He served as the Senior Financial and Chief Administrative Officer of the Home Shopping Network, Inc. From December 1993 to January 1996, he served as Senior Vice President of Strategic Development and Corporate Finance of Home Shopping Network, Inc. and served as its Vice President of Strategic Development and Assistant to the Chief Executive Officer from March 1993 to December 1993. Before joining Home Shopping Network, Mr. Kern served as Senior Vice President of Corporate Finance and Strategic Development of Whittle Communications. Mr. Kern began his career at Bear, Stearns Co., Inc. He has been the Chairman at Intermedia Outdoor Holdings, Inc. He has been the Chairman of the Board at Hemisphere Media Group, Inc. since April 2013. Mr. Kern has been a Director of Tribune Media Company since October 11, 2016 and Liberty Digital, Inc. since January 1997. He serves as Member of Supervisory Board at trivago N.V. since 2016. He has been an Independent Director at Luxury Retreats International Inc. since August 2007 and Expedia, Inc. since August 9, 2005. He serves as a Member of Board of Advisors of MConcierge Systems Inc. He also sits on the board of directors of InterMedia Español, Inc. and WAPA America, Inc. Mr. Kern is also the controlling person of Gemini Latin Holdings, LLC. He serves on the boards of TV Squared Limited, UP Entertainment, LLC, ASPIRE Channel, LLC, Televicentro of Puerto Rico, LLC, Luxury Retreats International Holdings, Inc., and Cine Latino, Inc. He served as a Director of On Command Corporation. Mr. Kern holds a B.S. from the Wharton School at the University of Pennsylvania.

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Tribune Media management team in years:

3.6
Average Tenure
60
Average Age
  • The tenure for the Tribune Media management team is about average.
Management Team

Peter Kern

TITLE
CEO & Director
COMPENSATION
$8M
AGE
51
TENURE
2.5 yrs

Chandler Bigelow

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
50
TENURE
4.1 yrs

Larry Wert

TITLE
President of Broadcast Media
COMPENSATION
$3M
AGE
63
TENURE
6.6 yrs

Gavin Harvey

TITLE
President of WGN America & Tribune Studios
COMPENSATION
$2M
AGE
60
TENURE
2.3 yrs

Eddie Lazarus

TITLE
Legal & Regulatory Advisor
COMPENSATION
$3M
AGE
60
TENURE
0.7 yrs

Brian Litman

TITLE
Chief Accounting Officer

David Ulmer

TITLE
Chief Technology Officer
AGE
62
TENURE
3.2 yrs

Gary Weitman

TITLE
Senior Vice President of Corporate Relations
AGE
62
TENURE
11.3 yrs

Kevin Connor

TITLE
Broadcasting Senior Vice President of Affiliate Sales & Marketing

Lynda King

TITLE
Chief Operating Officer of Broadcasting Division
TENURE
5.7 yrs
Board of Directors Tenure

Average tenure and age of the Tribune Media board of directors in years:

6.8
Average Tenure
56
Average Age
  • The tenure for the Tribune Media board of directors is about average.
Board of Directors

Peter Kern

TITLE
CEO & Director
COMPENSATION
$8M
AGE
51
TENURE
2.9 yrs

Peter Murphy

TITLE
Director
COMPENSATION
$483K
AGE
56
TENURE
6.8 yrs

Craig Jacobson

TITLE
Director
COMPENSATION
$240K
AGE
66
TENURE
6.8 yrs

Ross Levinsohn

TITLE
Director
COMPENSATION
$230K
AGE
56
TENURE
6.8 yrs

Laura Walker

TITLE
Director
COMPENSATION
$215K
AGE
61
TENURE
5.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Apr 19 Sell Magnetar Capital, LLC Company 25. Feb 19 25. Apr 19 -579,829 €41.53 €-24,027,932
26. Apr 19 Buy Magnetar Capital, LLC Company 28. Feb 19 05. Mar 19 152,389 €41.02 €6,235,230
27. Dec 18 Sell Magnetar Capital, LLC Company 02. Nov 18 02. Nov 18 -391 €33.77 €-13,204
27. Dec 18 Buy Magnetar Capital, LLC Company 03. Dec 18 24. Dec 18 4,882,073 €39.87 €191,483,722
19. Oct 18 Buy Associated Capital Group Inc, Asset Management Arm Company 20. Sep 18 01. Oct 18 200 €32.58 €6,495
19. Oct 18 Sell GAMCO Investors, Inc. Company 21. Aug 18 17. Oct 18 -15,850 €33.48 €0
19. Oct 18 Buy GAMCO Investors, Inc. Company 21. Aug 18 18. Oct 18 1,428,700 €33.72 €0
19. Oct 18 Sell Gabelli & Company Investment Advisers, Inc. Company 21. Aug 18 17. Oct 18 -13,150 €33.48 €0
19. Oct 18 Buy Gabelli & Company Investment Advisers, Inc. Company 17. Sep 18 01. Oct 18 9,900 €32.65 €0
19. Oct 18 Buy Mario Gabelli Individual 22. Aug 18 01. Oct 18 22,600 €32.76 €736,930
X
Management checks
We assess Tribune Media's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tribune Media has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Tribune Media Company, through its subsidiaries, operates as a diversified media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network. The company also operates Antenna TV and THIS TV digital multicast networks; and WGN 720 AM, a radio station in Chicago. It owns and operates 42 local television stations. The company was formerly known as Tribune Company and changed its name to Tribune Media Company in July 2014. Tribune Media Company was founded in 1847 and is based in Chicago, Illinois.

Details
Name: Tribune Media Company
TM9
Exchange: DB
Founded: 1847
$3,728,575,248
88,405,196
Website: http://www.tribunemedia.com
Address: Tribune Media Company
515 North State Street,
Chicago,
Illinois, 60654,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TRCO Class A Common Stock New York Stock Exchange US USD 03. Jan 2013
DB TM9 Class A Common Stock Deutsche Boerse AG DE EUR 03. Jan 2013
Number of employees
Current staff
Staff numbers
5,800
Tribune Media employees.
Industry
Broadcasting
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/18 21:39
End of day share price update: 2019/09/18 00:00
Last estimates confirmation: 2019/09/17
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.