Hochtief AG (DE:HOT)
XETRA:HOT
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Hochtief
(XETRA:HOT)
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Rating:66Neutral
Price Target:
€507.00
▲(9.03% Upside)
Action:Reiterated
Date:05/14/26
The score is driven by strong technical momentum and solid operating/cash-flow performance, partially offset by high financial leverage risk and a relatively expensive valuation (high P/E with a modest dividend yield).
Positive Factors
Free cash flow generation
Hochtief's strong free cash flow conversion—FCF covering ~80%+ of net income and growing vs 2025—indicates durable cash-generation capacity. Reliable FCF supports reinvestment in concessions/O&M, funds working capital on long projects, and provides flexibility to pay down debt or fund strategic investments across cycles.
Negative Factors
High financial leverage
Debt-to-equity of ~5.5x indicates substantial leverage that reduces balance-sheet flexibility. In a project-driven, cyclical industry this amplifies downside risk from overruns or revenue shocks, increases interest and refinancing pressures, and constrains the ability to absorb prolonged earnings volatility without capital actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow generation
Hochtief's strong free cash flow conversion—FCF covering ~80%+ of net income and growing vs 2025—indicates durable cash-generation capacity. Reliable FCF supports reinvestment in concessions/O&M, funds working capital on long projects, and provides flexibility to pay down debt or fund strategic investments across cycles.
Read all positive factors
Hochtief (HOT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€36.62B
Dividend Yield1.58%
Average Volume (3M)64.14K
Price to Earnings (P/E)45.5
Beta (1Y)1.22
Revenue Growth9.17%
EPS Growth-15.37%
CountryDE
Employees54,035
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)10.69
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
€476.68Price Target Upside2.51% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)14.02
Revenue Forecast (FY)€43.52B
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
72
Positive
Balance Sheet
43
Neutral
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.71B | 38.24B | 33.30B | 27.76B | 26.22B | 21.38B |
| Gross Profit | 4.59B | 2.91B | 8.78B | 6.85B | 6.32B | 5.29B |
| EBITDA | 2.34B | 1.66B | 2.03B | 1.07B | 968.99M | 747.04M |
| Net Income | 804.57M | 902.33M | 775.63M | 522.75M | 481.77M | 293.40M |
Balance Sheet | ||||||
| Total Assets | 25.20B | 24.94B | 24.65B | 19.01B | 18.30B | 16.24B |
| Cash, Cash Equivalents and Short-Term Investments | 6.64B | 7.07B | 6.25B | 5.78B | 4.94B | 4.57B |
| Total Debt | 8.52B | 8.65B | 8.20B | 5.50B | 5.67B | 4.83B |
| Total Liabilities | 23.60B | 23.55B | 23.46B | 17.74B | 17.07B | 15.15B |
| Stockholders Equity | 1.54B | 1.27B | 1.07B | 1.24B | 1.13B | 801.00M |
Cash Flow | ||||||
| Free Cash Flow | 1.89B | 1.61B | 1.66B | 1.12B | 863.28M | 307.96M |
| Operating Cash Flow | 2.33B | 2.04B | 2.13B | 1.34B | 1.05B | 387.20M |
| Investing Cash Flow | -516.84M | -1.61B | -1.49B | -249.67M | -484.59M | -220.00M |
| Financing Cash Flow | -984.12M | -85.51M | 346.11M | -583.61M | -167.20M | -1.08B |
Hochtief Technical Analysis
Positive
465.00
Price Trends
454.66
Positive
412.93
Positive
338.36
Positive
Market Momentum
5.27
Positive
52.38
Neutral
51.12
Neutral
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 465 is below the 20-day moving average (MA) of 500.91, above the 50-day MA of 454.66, and above the 200-day MA of 338.36, indicating a neutral trend. The MACD of 5.27 indicates Positive momentum. The RSI at 52.38 is Neutral, neither overbought nor oversold. The STOCH value of 51.12 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | €36.62B | 45.51 | 85.89% | 1.58% | 9.17% | -15.37% | |
64 Neutral | €53.67M | 2.26 | 10.80% | 5.42% | 81.69% | -19.99% | |
63 Neutral | €3.26B | 17.93 | 13.75% | 1.93% | 4.88% | -1.67% | |
63 Neutral | €33.65B | 26.09 | 7.23% | 1.49% | 1.44% | 11.59% | |
62 Neutral | €1.36B | 25.44 | 8.48% | 1.46% | 18.03% | -28.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | €7.31B | 812.40 | 0.10% | 1.23% | -6.47% | ― |
* General Sector Average
DE:HOT
Hochtief
486.60
326.69
204.29%
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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.