Hochtief AG (DE:HOT)
XETRA:HOT
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Hochtief
(XETRA:HOT)
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Rating:62Neutral
Price Target:
€479.00
▲(5.93% Upside)
Action:ReiteratedDate:02/21/26
The score is driven by solid operating momentum and strong free cash flow, but materially held back by very high leverage and thin margins. Technicals are supportive, while valuation (high P/E with modest yield) is a notable headwind.
Positive Factors
Strong free cash flow generation
Sustained FCF of roughly €1.6B TTM provides durable internal funding for working capital, reinvestment into concessions and maintenance services, and gradual balance-sheet repair. Over 2–6 months this underpins operational flexibility and ability to fund multi-year projects without sole reliance on external capital.
Negative Factors
Very high financial leverage
An elevated debt-to-equity (~8.5x) leaves the company highly leveraged and sensitive to adverse cash flow swings. With a thin equity base, returns are volatile and the firm has limited margin for execution errors or project disputes. Long-term flexibility to invest or absorb shocks is materially constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Sustained FCF of roughly €1.6B TTM provides durable internal funding for working capital, reinvestment into concessions and maintenance services, and gradual balance-sheet repair. Over 2–6 months this underpins operational flexibility and ability to fund multi-year projects without sole reliance on external capital.
Read all positive factors
Hochtief (HOT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€34.03B
Dividend Yield1.58%
Average Volume (3M)64.14K
Price to Earnings (P/E)28.1
Beta (1Y)1.26
Revenue Growth22.16%
EPS Growth18.23%
CountryDE
Employees54,035
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)3.35
Shares Outstanding77,711,300
10 Day Avg. Volume65,004
30 Day Avg. Volume64,141
Financial Highlights & Ratios
PEG Ratio1.72
Price to Book (P/B)20.00
Price to Sales (P/S)0.66
P/FCF Ratio15.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€329.57Price Target Upside-27.12% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)13.33
Revenue Forecast (FY)€44.02B
Hochtief Business Overview & Revenue Model
Company Description
HOCHTIEF Aktiengesellschaft engages in the construction business worldwide. The company operates through HOCHTIEF Americas, HOCHTIEF Asia Pacific, HOCHTIEF Europe, and Abertis Investment divisions. The HOCHTIEF Americas division provides building ...
How the Company Makes Money
HOCHTIEF makes money primarily by delivering construction and infrastructure projects and related services for public- and private-sector customers. Its core revenue stream comes from contracts to plan, design, and build assets (e.g., civil works ...
Hochtief Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
38
Negative
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 38.24B | 33.30B | 27.76B | 26.22B | 21.38B |
| Gross Profit | 2.91B | 8.78B | 6.85B | 6.32B | 5.29B |
| EBITDA | 1.66B | 2.03B | 1.07B | 968.99M | 747.04M |
| Net Income | 902.33M | 775.63M | 522.75M | 481.77M | 293.40M |
Balance Sheet | |||||
| Total Assets | 24.94B | 24.65B | 19.01B | 18.30B | 16.24B |
| Cash, Cash Equivalents and Short-Term Investments | 7.07B | 6.25B | 5.78B | 4.94B | 4.57B |
| Total Debt | 8.65B | 8.20B | 5.50B | 5.67B | 4.83B |
| Total Liabilities | 23.55B | 23.46B | 17.74B | 17.07B | 15.15B |
| Stockholders Equity | 1.27B | 1.07B | 1.24B | 1.13B | 801.00M |
Cash Flow | |||||
| Free Cash Flow | 1.61B | 1.66B | 1.12B | 863.28M | 307.96M |
| Operating Cash Flow | 2.04B | 2.13B | 1.34B | 1.05B | 387.20M |
| Investing Cash Flow | -1.61B | -1.49B | -249.67M | -484.59M | -220.00M |
| Financing Cash Flow | -85.51M | 346.11M | -583.61M | -167.20M | -1.08B |
Hochtief Technical Analysis
Positive
452.20
Price Trends
390.46
Positive
361.06
Positive
292.06
Positive
Market Momentum
12.93
Negative
68.77
Neutral
96.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HOT, the sentiment is Positive. The current price of 452.2 is above the 20-day moving average (MA) of 402.11, above the 50-day MA of 390.46, and above the 200-day MA of 292.06, indicating a bullish trend. The MACD of 12.93 indicates Negative momentum. The RSI at 68.77 is Neutral, neither overbought nor oversold. The STOCH value of 96.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:HOT.
Hochtief Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | €53.39M | 9.31 | 10.80% | 5.42% | 81.69% | -19.99% | |
63 Neutral | €4.13B | 22.68 | 13.51% | 1.93% | 10.17% | -20.99% | |
63 Neutral | €33.46B | ― | 10.52% | 1.49% | 4.16% | 7.78% | |
62 Neutral | €34.03B | 28.10 | 85.89% | 1.58% | 22.16% | 18.23% | |
62 Neutral | €1.45B | 21.49 | 10.59% | 1.46% | 9.63% | -7.69% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | €5.32B | -4.09 | 1.72% | 1.23% | -6.29% | ― |
* General Sector Average
DE:HOT
Hochtief
452.20
303.52
204.15%
DE:GBF
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110.70
47.67
75.64%
DE:HEI
Heidelberg Materials
189.70
33.46
21.42%
DE:TKA
thyssenkrupp
8.54
1.65
23.93%
DE:VOS
Vossloh
75.15
10.88
16.92%
DE:AB9
ABO Wind AG
5.79
-32.25
-84.78%
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.