Added to YB: 2025-09-05
Pitch date: 2025-09-04
TIG.L [bullish]
Team Internet Group plc
-33.81%
current return
Author Info
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Company Info
Team Internet Group plc provides domain name services. It operates through three segments: Domains, Identity & Software (DIS), Comparison, and Search.
Market Cap
GBP 119.8M
Pitch Price
GBP 0.56
Price Target
N/A
Dividend
N/A
EV/EBITDA
4.86
P/E
-2.97
EV/Sales
0.33
Sector
Media
Category
value
Caught in a Web of Adversity
TIG.L: VMS co trades <5x EV/EBITDA vs peer 20x despite strong recurring rev & cash flow. DIS segment (VMS for domain resellers) at 13x EBITDA vs half total EBITDA, 95%+ retention, HSD growth, duopoly w/ 46% nTLD share. AdTech hit by Google AFD→RSOC shift (-$40M FCF) but transitioning. PE bid 125p rejected; adjusted for AFD loss = 152p (+52%). SOTP: DIS alone worth $300M vs $283M EV; full SOTP $408M (+115%). Conservative case: $70M EBITDA, P/E 4.8, 17% FCF yield. Optimistic: $123M EBITDA, P/E 2.4, 34% yield if AdTech recovers. Mgmt considering asset sales, buybacks at 59p. Risks: RSOC failure, $93M debt @7.3%, capital allocation
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