⏸️ HUMNL: HOLD Signal (5/10) – Presentation Corporate Briefing Session 2025

📌 Key Takeaways

• 1. 📺 HUM Network celebrated its 20th anniversary in Pakistan’s media industry in 2025.
• 2. 🚀 Focus on expanding presence across OTT and social media platforms.
• 3. 📈 Aims to leverage data analytics and audience behavior insights.
• 4. ⚽️ Deepening foothold in sports content through exclusive licensing and production partnerships.
• 5. 📰 Investing in fact-based, technology-driven journalism for HUM News.
• 6. 💼 Pursuing strategic new ventures in sports production and content syndication.
• 7. ⭐️ Key channels include HUM TV (launched 2005), Masala TV (launched 2006), HUM News (launched 2018), and HUM Films (launched 2014).
• 8. 🌎 International footprint includes Canada, USA, UK, Europe, Middle East, and Australia.
• 9. 🥇 PACRA upgraded long-term entity ratings to “AA-” from “A+”.
• 10. 📉 Revenue decreased from 8,308 million in 2024 to 8,012 million in 2025.
• 11. 📊 5-year Revenue CAGR is 16.84%.
• 12. 📉 Profit before taxation decreased from 2,927 million in 2024 to 2,201 million in 2025.
• 13. 📊 Profit Before Tax 5-year CAGR is 18.75%.
• 14. 📉 Profit after tax decreased from 2,610 million in 2024 to 2,103 million in 2025.
• 15. 📊 Profit After Tax 5-year CAGR is 20.01%.
• 16. 📉 Gross profit margin decreased from 50% in 2024 to 46% in 2025.

🎯 Investment Thesis

Given the recent decrease in revenue, profits, and gross profit margin, along with HUM’s expansion into new ventures, a HOLD rating seems appropriate. While the company has a strong legacy and is taking steps to adapt to the changing media landscape, the financial performance needs to be stabilized and improved before considering a BUY rating. The current valuation is likely to be negatively impacted by the reduced EPS. The price target should be re-evaluated based on future financial performance and sector comparison. This is a MEDIUM_TERM investment.