Bilfinger SE (DE:GBF)
XETRA:GBF
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Bilfinger
(XETRA:GBF)
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Rating:63Neutral
Price Target:
€115.00
▲(3.51% Upside)
Action:DowngradedDate:03/06/26
The score is driven primarily by improving financial performance (growth, stronger cash generation, and lower leverage). This is tempered by weak technicals (downtrend with oversold signals) and only moderately attractive valuation for a cyclical, project-driven business.
Positive Factors
Revenue growth and improving profitability
Revenue acceleration into 2025 (≈+12% in 2024, ≈+13% in 2025) alongside materially improved operating profit versus the 2022 trough indicates sustained client demand and stronger project execution. This durable top-line momentum supports longer-term earnings recovery and contract competitiveness.
Negative Factors
Project-driven cyclicality and earnings volatility
Bilfinger operates a project-heavy, cyclical services model where revenue and cash timing are tied to project schedules and sector cycles. This structural cyclicality makes earnings and cash flows volatile across cycles, complicating multi-quarter planning and reducing predictability for investors and creditors.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and improving profitability
Revenue acceleration into 2025 (≈+12% in 2024, ≈+13% in 2025) alongside materially improved operating profit versus the 2022 trough indicates sustained client demand and stronger project execution. This durable top-line momentum supports longer-term earnings recovery and contract competitiveness.
Read all positive factors
Bilfinger (GBF) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€4.06B
Dividend Yield1.93%
Average Volume (3M)83.66K
Price to Earnings (P/E)22.7
Beta (1Y)1.28
Revenue Growth10.17%
EPS Growth-20.99%
CountryDE
Employees31,478
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.44
Shares Outstanding37,606,373
10 Day Avg. Volume81,028
30 Day Avg. Volume83,661
Financial Highlights & Ratios
PEG Ratio-18.11
Price to Book (P/B)3.00
Price to Sales (P/S)0.74
P/FCF Ratio13.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€119.33Price Target Upside7.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)6.3
Revenue Forecast (FY)€5.69B
Bilfinger Business Overview & Revenue Model
Company Description
Bilfinger SE provides industrial services to customers in the process industry primarily in Europe, North America, and the Middle East. The company offers engineering, project, maintenance, turnaround, rotating equipment, and inspection services. ...
How the Company Makes Money
Bilfinger generates revenue through a multi-faceted business model that includes project-based contracts, long-term service agreements, and consultancy services. Key revenue streams consist of maintenance services, where the company provides ongoi...
Bilfinger Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.43B | 5.04B | 4.49B | 4.31B | 3.74B |
| Gross Profit | 617.20M | 546.80M | 463.50M | 437.10M | 387.00M |
| EBITDA | 408.30M | 394.30M | 295.70M | 171.20M | 242.50M |
| Net Income | 176.00M | 179.50M | 181.50M | 28.20M | 129.50M |
Balance Sheet | |||||
| Total Assets | 3.66B | 3.46B | 3.36B | 3.05B | 3.15B |
| Cash, Cash Equivalents and Short-Term Investments | 519.20M | 533.50M | 728.90M | 615.90M | 861.40M |
| Total Debt | 373.60M | 376.50M | 608.80M | 443.50M | 449.40M |
| Total Liabilities | 2.31B | 2.15B | 2.18B | 1.97B | 1.86B |
| Stockholders Equity | 1.33B | 1.30B | 1.17B | 1.09B | 1.30B |
Cash Flow | |||||
| Free Cash Flow | 299.00M | 177.90M | 86.20M | 106.30M | 53.70M |
| Operating Cash Flow | 364.30M | 241.10M | 144.80M | 158.00M | 115.00M |
| Investing Cash Flow | -94.70M | 111.60M | -217.60M | 156.10M | 283.10M |
| Financing Cash Flow | -214.30M | -427.70M | 40.70M | -382.80M | -239.00M |
Bilfinger Technical Analysis
Positive
111.10
Price Trends
111.96
Negative
109.52
Positive
101.28
Positive
Market Momentum
-1.88
Negative
59.66
Neutral
86.92
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:GBF, the sentiment is Positive. The current price of 111.1 is above the 20-day moving average (MA) of 101.51, below the 50-day MA of 111.96, and above the 200-day MA of 101.28, indicating a neutral trend. The MACD of -1.88 indicates Negative momentum. The RSI at 59.66 is Neutral, neither overbought nor oversold. The STOCH value of 86.92 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:GBF.
Bilfinger Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | €4.06B | 22.68 | 13.51% | 1.93% | 10.17% | -20.99% | |
62 Neutral | €33.93B | 28.10 | 85.89% | 1.58% | 22.16% | 18.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €8.54B | 27.05 | 6.03% | 4.30% | -3.35% | -23.06% | |
52 Neutral | €1.62B | -0.42 | 216.40% | ― | -11.67% | -1069.47% |
* General Sector Average
DE:GBF
Bilfinger
108.90
48.24
79.53%
DE:B5A0
Bauer AG
5.74
0.54
10.38%
DE:BYW
BayWa AG
16.00
7.11
79.94%
DE:BNR
Brenntag AG
59.18
7.56
14.64%
DE:CEV
Centrotec Sustainable
59.00
-6.96
-10.55%
DE:HOT
Hochtief
450.80
309.20
218.36%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.