Added to YB: 2026-07-13
Pitch date: 2026-07-09
FNTN.DE [bullish]
freenet AG
+0.85%
current return
Author Info
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Company Info
freenet AG provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany.
Market Cap
EUR 2.8B
Pitch Price
EUR 23.42
Price Target
39.00 (+65%)
Dividend
8.76%
EV/EBITDA
7.05
P/E
10.75
EV/Sales
1.28
Sector
Wireless Telecommunication Services
Category
value
freenet: The 9% Dividend Machine with a €50M Problem and a €1.5B Answer
FNTN.DE: German MVNO/IPTV cash machine down 40% on €50M Telefónica contract fear (worst-case, already in guidance). EV/EBITDA ~6.3x (10yr low), 12.8% FCF yield, 8.9% dividend (€2 floor thru 2028), 1.2x leverage. waipu.tv IPO could crystallize €1.1B (~40% of mkt cap). Base case ~65% 3yr return. Risks: MNO squeeze, ARPU -5%, streaming comp.
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