Want to see GB:ITV full AI Analyst Report?
Top Page
ITV plc
(LSE:ITV)
Select Model
Select Model
Rating:61Neutral
Price Target:
69.00 p
▼(-5.09% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by mixed financial performance: a strong revenue rebound and improved leverage are offset by weaker margins and a sharp drop in free cash flow. Technicals add pressure due to a downtrend and bearish momentum. Valuation is supportive via a reasonable P/E and high dividend yield, while the latest earnings call was constructive on strategy and capital returns but flagged near-term advertising softness, margin pressure, and regulatory timing risk.
Positive Factors
ITVX digital growth
Rapid ITVX audience growth is strengthening the company’s digital distribution platform and expanding addressable advertising inventory. A larger, more engaged streaming base can support better targeting, monetisation, and strategic relevance as viewing continues shifting toward online services.
Negative Factors
Studios margin pressure
Studios margin pressure indicates that revenue growth is not currently translating into proportional profit growth. If margins remain near the lower end of target, weaker operating leverage could constrain earnings progression and reduce the benefits of the content division’s scale.
Read all positive and negative factors
Positive Factors
Negative Factors
ITVX digital growth
Rapid ITVX audience growth is strengthening the company’s digital distribution platform and expanding addressable advertising inventory. A larger, more engaged streaming base can support better targeting, monetisation, and strategic relevance as viewing continues shifting toward online services.
Read all positive factors
ITV plc (ITV) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.34B
Dividend Yield7.76%
Average Volume (3M)9.96M
Price to Earnings (P/E)10.5
Beta (1Y)0.86
Revenue Growth1.58%
EPS Growth27.05%
CountryUK
Employees6,866
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)0.06
Shares Outstanding3,690,789,000
10 Day Avg. Volume9,876,193
30 Day Avg. Volume9,956,400
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)1.71
Price to Sales (P/S)0.88
P/FCF Ratio17.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£80.00Price Target Upside10.04% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.08
Revenue Forecast (FY)£3.62B
ITV plc Business Overview & Revenue Model
Company Description
ITV plc, a vertically integrated production, broadcasting, and streaming company, which creates, owns, and distributes content on various platforms worldwide. It operates through ITV Studios and Media & Entertainment segments. The ITV Studios segm...
How the Company Makes Money
ITV primarily earns revenue through two main divisions: (1) Media & Entertainment and (2) ITV Studios. In Media & Entertainment, ITV makes money mainly by selling advertising across its broadcast channels and digital properties (including advertis...
ITV plc Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 04, 2027
Earnings Call Sentiment Positive
The call presents a broadly positive operational and strategic picture driven by a transformational M&E transaction, strong digital growth (ITVX viewing +27%, digital revenue +13%), advertiser gains, and a healthy balance sheet (net debt GBP 652m, leverage 1x). However, near-term profitability and timing risks remain: Studios EBITA and margin were down, Group EBITA is flat with H2 weighting, Q3 advertising is expected to decline ~5%, working capital has reduced cash conversion, and the Sky transaction faces regulatory review that could delay completion. On balance the highlights (transformative deal, clear capital returns, digital and advertiser momentum, cost discipline) outweigh the lowlights (margin pressure, near-term ad softness, regulatory timing risk).Positive Updates
Transformative M&E sale and shareholder returns
Agreement to sell M&E to Sky creating a GBP 950m net cash return (excluding contingent consideration); announced immediate GBP 100m share buyback and declared interim dividend of GBP 0.017 per share (in line with prior year).
Negative Updates
Studios margin and EBITA pressure
Studios EBITA down 9% to GBP 97m with a margin of 11%, below the 13%–15% target range and expected to be weighted to H2 with margins landing at the lower end of the target.
Read all updates
Q2-2026 Updates
Positive
Negative
Transformative M&E sale and shareholder returns
Agreement to sell M&E to Sky creating a GBP 950m net cash return (excluding contingent consideration); announced immediate GBP 100m share buyback and declared interim dividend of GBP 0.017 per share (in line with prior year).
Read all positive updates
Company Guidance
Management left full‑year guidance unchanged: ITV Studios is expected to deliver good total revenue growth with EBITA margins landing at the lower end of its 13–15% target range, while M&E should continue strong, profitable digital revenue growth but with Q3 TAR expected to be down around 5% (implying TAR for the first nine months broadly flat YoY). In H1 Studios revenue grew 2% to GBP 912m (3% organic) with EBITA down 9% to GBP 97m (11% margin); M&E delivered GBP 850m of advertising revenue (up 3%), digital revenue up 13% to GBP 307m, ITVX viewing +27% with June >20m MAUs, and segment EBITA up 37% to GBP 48m; group content costs were reduced 2% while non‑content costs (ex‑marketing) were up 3% with GBP 4m of permanent savings YTD. The balance sheet remains strong with net debt of GBP 652m, leverage ~1x, profit‑to‑cash conversion 63% (rolling 12 months), a target of GBP 20m of cost savings for the full year (cumulative GBP 273m since 2019), an interim dividend of GBP 0.017/share, a GBP 100m buyback (expected to run c.9–12 months) and an anticipated GBP 950m net cash return on completion of the M&E sale to Sky.ITV plc Financial Statement Overview
Summary
Income Statement
61
Positive
Balance Sheet
70
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.53B | 3.51B | 3.49B | 3.62B | 3.73B | 3.45B |
| Gross Profit | 453.00M | 464.00M | 581.00M | 311.00M | 593.00M | 690.00M |
| EBITDA | 557.00M | 575.00M | 734.00M | 390.00M | 722.00M | 805.00M |
| Net Income | 232.00M | 220.00M | 408.00M | 210.00M | 428.00M | 378.00M |
Balance Sheet | ||||||
| Total Assets | 4.36B | 4.29B | 4.19B | 4.19B | 4.47B | 4.24B |
| Cash, Cash Equivalents and Short-Term Investments | 264.00M | 302.00M | 427.00M | 340.00M | 348.00M | 736.00M |
| Total Debt | 916.00M | 876.00M | 838.00M | 878.00M | 962.00M | 1.11B |
| Total Liabilities | 2.61B | 2.46B | 2.35B | 2.36B | 2.60B | 2.72B |
| Stockholders Equity | 1.73B | 1.80B | 1.81B | 1.79B | 1.82B | 1.48B |
Cash Flow | ||||||
| Free Cash Flow | 201.00M | 176.00M | 284.00M | 315.00M | 226.00M | 126.00M |
| Operating Cash Flow | 234.00M | 202.00M | 333.00M | 385.00M | 304.00M | 171.00M |
| Investing Cash Flow | -79.00M | -56.00M | 246.00M | -97.00M | -221.00M | -76.00M |
| Financing Cash Flow | -174.00M | -266.00M | -489.00M | -287.00M | -483.00M | -24.00M |
ITV plc Technical Analysis
Negative
72.70
Price Trends
67.30
Negative
71.25
Negative
73.69
Negative
Market Momentum
-0.73
Negative
44.38
Neutral
48.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ITV, the sentiment is Negative. The current price of 72.7 is above the 20-day moving average (MA) of 65.16, above the 50-day MA of 67.30, and below the 200-day MA of 73.69, indicating a bearish trend. The MACD of -0.73 indicates Negative momentum. The RSI at 44.38 is Neutral, neither overbought nor oversold. The STOCH value of 48.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:ITV.
ITV plc Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | £2.34B | 10.51 | 13.15% | 7.76% | 1.58% | 27.05% | |
61 Neutral | £20.19B | 12.54 | 12.84% | 4.03% | -3.55% | 2.13% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | £4.26B | -17.83 | -9.33% | 3.78% | -6.47% | -162.96% | |
53 Neutral | £2.40B | 106.11 | -1.48% | 0.01% | 9.24% | 64.97% | |
50 Neutral | £157.80M | -0.89 | -36.14% | 11.81% | -6.48% | -458.95% | |
43 Neutral | £46.72M | -1.81 | 143.01% | 6.98% | -18.44% | -608.87% |
* Communication Services Sector Average
GB:ITV
ITV plc
64.95
0.04
0.06%
GB:BT.A
BT Group plc
211.70
32.66
18.24%
GB:STVG
STV Group plc
103.00
-11.00
-9.65%
GB:WPP
WPP
396.80
51.17
14.81%
GB:RCH
Reach plc
49.35
-6.52
-11.67%
GB:CAN
Canal+
231.20
-5.82
-2.46%
ITV plc Corporate Events
Regulatory Filings and Compliance
ITV Discloses Share Transfer by General Counsel to Spouse
Neutral
Oct 6, 2026
ITV plc has disclosed that its General Counsel and Company Secretary, Kyla Mullins, has transferred 550,000 ordinary shares in the company to her spouse. The transfer, conducted on 6 October 2026 on the London Stock Exchange’s Main Market, w...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV Tightens Capital Structure With Ongoing Share Buybacks
Positive
Oct 5, 2026
ITV plc has continued executing its share buyback programme, repurchasing roughly 11.2 million ordinary shares between 28 September and 2 October 2026 at prices around 67–69 pence per share, with the shares to be held in treasury. Following ...
Business Operations and StrategyRegulatory Filings and Compliance
ITV Updates Market on Total Voting Rights and Share Capital
Neutral
Oct 1, 2026
ITV plc has reported that, as of 30 September 2026, its issued share capital comprised 3,858,668,496 ordinary shares of 10p each, of which 140,877,633 are held in treasury. This leaves a total of 3,717,790,863 voting rights, providing the referenc...
Business Operations and StrategyStock Buyback
ITV Expands Share Buyback, Lifts Treasury Stock to Nearly 141 Million Shares
Positive
Sep 28, 2026
ITV plc has continued to execute its previously announced share buyback programme, repurchasing 9,425,480 ordinary shares between 21 and 25 September 2026 on the London Stock Exchange and multilateral trading venues. The shares, bought at prices r...
Business Operations and StrategyStock Buyback
ITV boosts treasury stock as share buyback programme advances
Positive
Sep 21, 2026
ITV plc has continued executing its previously announced share buyback programme, repurchasing a series of ordinary shares on the London Stock Exchange and multilateral trading venues between 14 and 18 September 2026. The purchases were made under...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
ITV grants executive share awards to senior leadership under incentive plan
Neutral
Sep 14, 2026
ITV plc has granted new awards of ordinary shares under its Executive Share Plan to senior leadership, including the chief executive, group CFO and COO, and the chief corporate development officer. The awards, made on 11 September 2026 and recorde...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV expands share buyback, lifts treasury holdings and voting base clarity
Positive
Sep 14, 2026
ITV plc has continued to execute its previously announced share buyback programme, purchasing a total of 7,145,424 ordinary shares between 7 and 11 September 2026 on the London Stock Exchange and multilateral trading facilities. The shares, acquir...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV boosts treasury stock with ongoing share buyback
Positive
Sep 7, 2026
ITV plc has continued executing its previously announced share buyback programme, repurchasing 9.85 million ordinary shares between 1 and 4 September 2026 at prices around 70 pence per share. The company intends to hold these shares in treasury, b...
Regulatory Filings and Compliance
ITV Updates Market on Total Voting Rights and Share Capital
Neutral
Sep 1, 2026
ITV plc has reported that, as of 31 August 2026, its issued share capital comprised 3,858,668,496 ordinary shares of 10p each, of which 111,680,963 are held in treasury. This leaves a total of 3,746,987,533 voting rights in the company, a key refe...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV expands share buyback, boosts treasury holdings and adjusts voting rights
Positive
Sep 1, 2026
ITV plc has continued its share buyback programme, repurchasing several million ordinary shares between 24 and 28 August 2026 on the London Stock Exchange and multilateral trading facilities, with prices averaging just above 71 pence. The company ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV boosts treasury stock as share buyback programme gathers pace
Positive
Aug 24, 2026
ITV plc has continued executing its recently launched share buyback programme, repurchasing 1,647,755 ordinary shares between 17 and 21 August 2026 on the London Stock Exchange and multilateral trading facilities. The company intends to hold these...
Business Operations and StrategyStock BuybackFinancial Disclosures
ITV Expands Share Buyback, Lifts Treasury Stock to Over 105 Million Shares
Positive
Aug 17, 2026
ITV has continued executing its recently announced share buyback programme, repurchasing about 15.2 million ordinary shares between 10 and 14 August 2026 at prices around 71 to 73 pence per share. The company intends to hold these shares in treasu...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV Expands Share Buyback, Lifts Treasury Stock and Sets New Voting Base
Positive
Aug 10, 2026
ITV plc has continued to execute its recently announced share buyback programme, repurchasing 20,356,091 ordinary shares between 3 and 7 August 2026 at prices around the mid-70 pence range. The company plans to hold these shares in treasury, signa...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
ITV Wins Bondholder Backing for Note Amendments Ahead of Sky Deal
Positive
Aug 5, 2026
ITV plc has secured bondholder approval for amendments to the terms of its €500 million 4.25% notes due June 2032, following a consent solicitation launched in early July. The changes, implemented via a supplemental trust deed effective 5 Au...
Stock BuybackRegulatory Filings and Compliance
ITV Corrects Voting Rights Disclosure After Treasury Share Buyback
Neutral
Aug 3, 2026
ITV plc has corrected an earlier announcement concerning transactions in its own shares, clarifying the total number of voting rights following recent share buybacks. The amendment affects the stated voting rights figure but leaves all other detai...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
ITV Launches Share Buyback, Tightens Capital Structure
Positive
Aug 3, 2026
ITV plc has begun executing a new share buyback programme, repurchasing 4,127,799 ordinary shares at a volume-weighted average price of 75.33 pence per share on 31 July 2026 through Morgan Stanley Co. International. The company intends to hold th...
Business Operations and StrategyStock Buyback
ITV launches £100m share buyback to cut share capital
Positive
Jul 31, 2026
ITV plc has launched a share repurchase programme of up to £100 million, instructing Morgan Stanley to buy ordinary shares and resell them to ITV, primarily on the London Stock Exchange. The buyback, running from 31 July 2026 to no later than...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A TransactionsRegulatory Filings and Compliance
ITV stays on track for 2026 targets as M&E sale to Sky reshapes group focus
Positive
Jul 31, 2026
ITV plc reported interim results for the six months to 30 June 2026 showing total group revenue up 2% to £1.89bn and external revenue up 1%, with adjusted EBITA flat and statutory profit before tax up 16% to £78m. ITV Studios delivered 2...
Business Operations and StrategyPrivate Placements and Financing
ITV Postpones Noteholder Meeting and Sweetens Consent Terms
Neutral
Jul 27, 2026
ITV plc has postponed a meeting of holders of its €500 million 4.25% Notes due 2032 from 28 July to 5 August 2026, to be held via video conference. The company is close to securing the necessary majority for an Extraordinary Resolution and i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.