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FERROVIAL SE (FER.AS) Stock Fundamental Analysis

Europe - AMS:FER - NL0015001FS8 - Common Stock

49.16 EUR
+0.28 (+0.57%)
Last: 9/18/2025, 12:28:24 PM
Fundamental Rating

5

FER gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 41 industry peers in the Construction & Engineering industry. While FER has a great profitability rating, there are quite some concerns on its financial health. FER has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year FER was profitable.
FER had a positive operating cash flow in the past year.
FER had positive earnings in 4 of the past 5 years.
FER had a positive operating cash flow in each of the past 5 years.
FER.AS Yearly Net Income VS EBIT VS OCF VS FCFFER.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

1.2 Ratios

FER has a better Return On Assets (12.67%) than 90.24% of its industry peers.
The Return On Equity of FER (57.04%) is better than 95.12% of its industry peers.
The Return On Invested Capital of FER (3.45%) is worse than 75.61% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FER is significantly below the industry average of 11.06%.
The 3 year average ROIC (2.22%) for FER is below the current ROIC(3.45%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 12.67%
ROE 57.04%
ROIC 3.45%
ROA(3y)4.52%
ROA(5y)3.3%
ROE(3y)23.24%
ROE(5y)17.1%
ROIC(3y)2.22%
ROIC(5y)1.79%
FER.AS Yearly ROA, ROE, ROICFER.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

1.3 Margins

With an excellent Profit Margin value of 35.99%, FER belongs to the best of the industry, outperforming 97.56% of the companies in the same industry.
FER's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 10.13%, FER is in the better half of the industry, outperforming 68.29% of the companies in the same industry.
FER's Operating Margin has improved in the last couple of years.
FER's Gross Margin of 87.83% is amongst the best of the industry. FER outperforms 100.00% of its industry peers.
FER's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 10.13%
PM (TTM) 35.99%
GM 87.83%
OM growth 3Y26.04%
OM growth 5YN/A
PM growth 3Y27.17%
PM growth 5Y52.49%
GM growth 3Y4.45%
GM growth 5Y4.25%
FER.AS Yearly Profit, Operating, Gross MarginsFER.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FER is destroying value.
Compared to 1 year ago, FER has less shares outstanding
The number of shares outstanding for FER has been reduced compared to 5 years ago.
Compared to 1 year ago, FER has an improved debt to assets ratio.
FER.AS Yearly Shares OutstandingFER.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
FER.AS Yearly Total Debt VS Total AssetsFER.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

Based on the Altman-Z score of 1.64, we must say that FER is in the distress zone and has some risk of bankruptcy.
FER has a Altman-Z score (1.64) which is comparable to the rest of the industry.
The Debt to FCF ratio of FER is 10.03, which is on the high side as it means it would take FER, 10.03 years of fcf income to pay off all of its debts.
FER has a Debt to FCF ratio (10.03) which is in line with its industry peers.
A Debt/Equity ratio of 1.72 is on the high side and indicates that FER has dependencies on debt financing.
FER has a Debt to Equity ratio of 1.72. This is amonst the worse of the industry: FER underperforms 82.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.72
Debt/FCF 10.03
Altman-Z 1.64
ROIC/WACC0.56
WACC6.16%
FER.AS Yearly LT Debt VS Equity VS FCFFER.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.3 Liquidity

FER has a Current Ratio of 0.94. This is a bad value and indicates that FER is not financially healthy enough and could expect problems in meeting its short term obligations.
FER has a worse Current ratio (0.94) than 68.29% of its industry peers.
FER has a Quick Ratio of 0.94. This is a bad value and indicates that FER is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.86, FER is doing worse than 63.41% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.86
FER.AS Yearly Current Assets VS Current LiabilitesFER.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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6

3. Growth

3.1 Past

FER shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 355.69%, which is quite impressive.
FER shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 68.07% yearly.
Looking at the last year, FER shows a small growth in Revenue. The Revenue has grown by 5.75% in the last year.
FER shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.60% yearly.
EPS 1Y (TTM)355.69%
EPS 3Y40.96%
EPS 5Y68.07%
EPS Q2Q%33.34%
Revenue 1Y (TTM)5.75%
Revenue growth 3Y9.79%
Revenue growth 5Y8.6%
Sales Q2Q%0.92%

3.2 Future

FER is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.64% yearly.
FER is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.88% yearly.
EPS Next Y17.61%
EPS Next 2Y8.02%
EPS Next 3Y11.9%
EPS Next 5Y16.64%
Revenue Next Year5.92%
Revenue Next 2Y4.85%
Revenue Next 3Y4.66%
Revenue Next 5Y2.88%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FER.AS Yearly Revenue VS EstimatesFER.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
FER.AS Yearly EPS VS EstimatesFER.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 10.57 indicates a reasonable valuation of FER.
Based on the Price/Earnings ratio, FER is valued a bit cheaper than 78.05% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.20, FER is valued rather cheaply.
A Price/Forward Earnings ratio of 49.30 indicates a quite expensive valuation of FER.
Based on the Price/Forward Earnings ratio, FER is valued expensively inside the industry as 80.49% of the companies are valued cheaper.
FER's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.70.
Industry RankSector Rank
PE 10.57
Fwd PE 49.3
FER.AS Price Earnings VS Forward Price EarningsFER.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

FER's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FER is more expensive than 78.05% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, FER is valued a bit more expensive than 65.85% of the companies in the same industry.
Industry RankSector Rank
P/FCF 31.45
EV/EBITDA 31.95
FER.AS Per share dataFER.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

FER's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of FER may justify a higher PE ratio.
PEG (NY)0.6
PEG (5Y)0.16
EPS Next 2Y8.02%
EPS Next 3Y11.9%

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2

5. Dividend

5.1 Amount

With a yearly dividend of 0.72%, FER is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.72, FER is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.38, FER's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.72%

5.2 History

The dividend of FER decreases each year by -10.17%.
Dividend Growth(5Y)-10.17%
Div Incr Years1
Div Non Decr Years1
FER.AS Yearly Dividends per shareFER.AS Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

3.63% of the earnings are spent on dividend by FER. This is a low number and sustainable payout ratio.
DP3.63%
EPS Next 2Y8.02%
EPS Next 3Y11.9%
FER.AS Yearly Income VS Free CF VS DividendFER.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
FER.AS Dividend Payout.FER.AS Dividend Payout, showing the Payout Ratio.FER.AS Dividend Payout.PayoutRetained Earnings

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FERROVIAL SE

AMS:FER (9/18/2025, 12:28:24 PM)

49.16

+0.28 (+0.57%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)07-29 2025-07-29/amc
Earnings (Next)10-27 2025-10-27
Inst Owners36.61%
Inst Owner ChangeN/A
Ins Owners32.89%
Ins Owner ChangeN/A
Market Cap36.07B
Analysts76
Price Target48.78 (-0.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.72%
Yearly Dividend0.18
Dividend Growth(5Y)-10.17%
DP3.63%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)100.85%
Min Revenue beat(2)-3.79%
Max Revenue beat(2)205.49%
Revenue beat(4)2
Avg Revenue beat(4)50.7%
Min Revenue beat(4)-3.79%
Max Revenue beat(4)205.49%
Revenue beat(8)5
Avg Revenue beat(8)26.51%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.68%
PT rev (3m)5.99%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.9%
EPS NY rev (1m)6.89%
EPS NY rev (3m)6.89%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.39%
Revenue NY rev (1m)-0.19%
Revenue NY rev (3m)0.64%
Valuation
Industry RankSector Rank
PE 10.57
Fwd PE 49.3
P/S 3.86
P/FCF 31.45
P/OCF 25.31
P/B 6.11
P/tB 6.78
EV/EBITDA 31.95
EPS(TTM)4.65
EY9.46%
EPS(NY)1
Fwd EY2.03%
FCF(TTM)1.56
FCFY3.18%
OCF(TTM)1.94
OCFY3.95%
SpS12.74
BVpS8.04
TBVpS7.25
PEG (NY)0.6
PEG (5Y)0.16
Profitability
Industry RankSector Rank
ROA 12.67%
ROE 57.04%
ROCE 4.6%
ROIC 3.45%
ROICexc 4%
ROICexgc 4.14%
OM 10.13%
PM (TTM) 35.99%
GM 87.83%
FCFM 12.27%
ROA(3y)4.52%
ROA(5y)3.3%
ROE(3y)23.24%
ROE(5y)17.1%
ROIC(3y)2.22%
ROIC(5y)1.79%
ROICexc(3y)2.87%
ROICexc(5y)2.44%
ROICexgc(3y)2.98%
ROICexgc(5y)2.53%
ROCE(3y)2.96%
ROCE(5y)2.38%
ROICexcg growth 3Y23.54%
ROICexcg growth 5YN/A
ROICexc growth 3Y23.9%
ROICexc growth 5YN/A
OM growth 3Y26.04%
OM growth 5YN/A
PM growth 3Y27.17%
PM growth 5Y52.49%
GM growth 3Y4.45%
GM growth 5Y4.25%
F-Score7
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 1.72
Debt/FCF 10.03
Debt/EBITDA 7.3
Cap/Depr 62.19%
Cap/Sales 2.97%
Interest Coverage 2
Cash Conversion 102.22%
Profit Quality 34.09%
Current Ratio 0.94
Quick Ratio 0.86
Altman-Z 1.64
F-Score7
WACC6.16%
ROIC/WACC0.56
Cap/Depr(3y)34.82%
Cap/Depr(5y)40.43%
Cap/Sales(3y)1.58%
Cap/Sales(5y)1.66%
Profit Quality(3y)249.79%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)355.69%
EPS 3Y40.96%
EPS 5Y68.07%
EPS Q2Q%33.34%
EPS Next Y17.61%
EPS Next 2Y8.02%
EPS Next 3Y11.9%
EPS Next 5Y16.64%
Revenue 1Y (TTM)5.75%
Revenue growth 3Y9.79%
Revenue growth 5Y8.6%
Sales Q2Q%0.92%
Revenue Next Year5.92%
Revenue Next 2Y4.85%
Revenue Next 3Y4.66%
Revenue Next 5Y2.88%
EBIT growth 1Y21.25%
EBIT growth 3Y38.38%
EBIT growth 5YN/A
EBIT Next Year62%
EBIT Next 3Y23.99%
EBIT Next 5Y14.44%
FCF growth 1Y15.28%
FCF growth 3Y24.87%
FCF growth 5Y2.94%
OCF growth 1Y29.55%
OCF growth 3Y24.37%
OCF growth 5Y2.81%