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The previous decade hasn’t been variety for ITV (LSE:ITV) shares. As a conventional business broadcaster, the FTSE 250 firm’s relevance in an more and more digital age is a rising trigger for concern.
At 78.8p per share, ITV’s share worth has slumped 69.1% from 254.71p 10 years in the past. It means a £10,000 funding within the firm again then would now be value £3,078.
A stream of dividend earnings has helped soften the blow, although this wasn’t uninterrupted — payouts had been suspended for a short interval through the pandemic. In whole, the enterprise has delivered money rewards of 61.6p for every share.
Nonetheless, this nonetheless means a £10k funding a decade in the past would have offered a return of £5,503, or -45%.
ITV’s ejection from the FTSE 100 three years in the past capped a really horrible time for the corporate. However I’m questioning whether or not the broadcaster may now be a high restoration play for share buyers to contemplate.
Combined outlook
Sadly, share worth forecasts are unavailable for ITV shares for the subsequent decade. Metropolis analysts have offered numbers for the next 12 months, although. And on steadiness they’re taking a constructive place.
That stated, there’s nothing right here to get buyers too excited. The consensus opinion from the seven analysts with scores on ITV inventory predict solely a fractional improve over the subsequent yr, to round 79.9p.
There are additionally some giant variations between these worth forecasts. One forecaster thinks the broadcaster will soar virtually 40% in worth over the subsequent yr. One other believes it would sink by a determine approaching 23%.
Bulls and bears
Broadcasters are extremely cyclical companies, so predicting share worth actions throughout unsure occasions like these is loaded with peril. ITV’s personal share worth has been extraordinarily unstable in 2025, reflecting conflicting indicators on US commerce coverage and the differing situations for financial development and rates of interest.
To date this yr, promoting revenues have matched forecasts (down 2% in quarter one). However they may doubtlessly go into freefall if worsening financial circumstances trigger advertising budgets to be slashed.
Regardless of this risk, I imagine ITV shares may nonetheless be a beautiful restoration inventory to contemplate. Whereas streaming giants like Netflix pose vital long-term risks, in addition they carry huge alternatives for the corporate’s ITV Studios arm.
Exterior revenues right here rose 20% in quarter one, the corporate stated, because of “sturdy demand from, and the timing of deliveries to, world streaming platforms“. ITV Studios is heading in the right direction to ship common yearly natural income development of 5% between 2021 and 2026, forward of the broader market.
The broadcaster is making a giant mark on the streaming panorama, too, by means of its personal massively fashionable ITVX platform. It was the fastest-growing UK service in 2023 and 2024, and within the first quarter, whole streaming hours rose 12% yr on yr.
The success of ITVX can be anticipated to supercharge digital promoting revenues to £750m by 2027. That’s up from £482m final yr.
Strong worth
As we speak the enterprise trades on a ahead price-to-earnings (P/E) ratio of simply 9.2 occasions. It additionally carries a 6.2% corresponding dividend yield.
On steadiness, I believe it’s a high restoration inventory for worth buyers to contemplate.
