Added to YB: 2026-10-07
Pitch date: 2026-09-26
TNIE.F [bullish]
tonies SE
+4.01%
current return
Author Info
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Company Info
tonies SE, through its subsidiaries, develops, produces, and distributes digital, cloud based, and interactive audio platform and entertainment system for children in Germany, the United States, the United Kingdom, France, and internationally.
Market Cap
EUR 1.4B
Pitch Price
EUR 13.10
Price Target
15.00 (+10%)
Dividend
N/A
EV/EBITDA
34.40
P/E
-101.66
EV/Sales
1.98
Sector
Leisure Products
Category
growth
Tonies: Gillette of The Toy Market
TNIE.F: Tonies applies the Gillette model to screen-free toys: each Toniebox drives repeat, higher-margin figurine sales, with the figurine-to-box sales ratio rising as markets mature. H1 revenue grew 37.5% versus management’s ~20% full-year target, while Toniebox 2, geographic expansion and mix-led margin recovery offer further upside. At €11.50, the €15 base-case fair value implies 31% upside, though execution against these milestones remains decisive.
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