Added to YB: 2026-06-22
Pitch date: 2026-06-18
UMG.AS [neutral]
Universal Music Group N.V.
Author Info
Lux Opes Research covers European companies. Lots of them. Sign up for the newsletter.
Company Info
Universal Music Group N.V. operates as a music company worldwide. The company operates through Recorded Music, Music Publishing, and Merchandising & Other segments.
Market Cap
EUR 34.4B
Pitch Price
N/A
Price Target
N/A
Dividend
2.77%
EV/EBITDA
16.19
P/E
22.62
EV/Sales
2.99
Sector
Entertainment
Category
value
Universal Music Group (UMG Netherlands): The overhang is gone and the market is missing the cash flow story
UMG.AS (update): Pershing exit removes overhang, triggered larger buyback & capital returns. Trades ~9x fwd EBITDA, well below historical. AI reframed as expanding role in rights ecosystem, not value destruction. Paid streaming accelerating on pricing. FCF €1.4bn (2025)→€2.4bn (2028); market mispricing cash flow story.
Read full article (2 min)