Eiffage SA (EFGSY) AI Stock Analysis

• Market Cap: $14.41B
• Dividend Yield: 2.54%
• Average Volume (3M): 334.00
• Price to Earnings (P/E): 11.1
• Beta (1Y): 0.32
• Revenue Growth: 8.31%
• EPS Growth: -2.44%
• Country: US
• Employees: 84,400
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 1.80
• Shares Outstanding: 490,000,000
• 10 Day Avg. Volume: 650
• 30 Day Avg. Volume: 334
• PEG Ratio: -2.73
• Price to Book (P/B): 1.45
• Price to Sales (P/S): 0.43
• P/FCF Ratio: 4.02
• Enterprise Value/Market Cap: 1.62
• Enterprise Value/Revenue: 0.90
• Enterprise Value/Gross Profit: 1.88
• Enterprise Value/Ebitda: 5.62
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $33.00 ▲(12.59% Upside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score is driven primarily by solid underlying financial performance (notably strong free cash flow and steady revenue growth) despite meaningful balance-sheet leverage. Technicals show a strong trend but are overbought, while valuation looks reasonable and earnings-call guidance supports continued momentum amid notable France-specific headwinds and tax impacts.

Positive Factors

Cash generation

Consistent positive operating and free cash flow across 2020–2025 provides durable internal funding for capex, concessions and working capital. Strong FCF supports reinvestment, debt servicing and resilient operations through construction cycle swings and reduces reliance on external financing.

Order book visibility

A EUR 29.5bn order book (+4%) offers multi-year revenue visibility, smoothing near-term cyclicality inherent to contracting. This backlog underpins predictable future revenue, aids capacity planning and supports stable utilization and margins as projects convert over successive years.

Concessions recurring cash flow

Growing traffic on major concessions indicates resilient user-fee receipts and recurring cash flow. Concession income provides low-volatility, long-duration revenue that complements project work, stabilizes group cash generation and helps finance long-term investments independent of construction cycle.

Negative Factors

High leverage

Persistently heavy debt (≈2.5x equity) constrains financial flexibility in a cyclical, project-driven industry. Elevated leverage increases interest and refinancing risk, limits capacity for large bids or opportunistic M&A, and reduces headroom to absorb working-capital swings or slower cash conversion.

Weak domestic real estate market

A structurally impaired French real estate market depresses property development profits and local construction demand. Domestic weakness reduces margin opportunities, raises counterparty and project-risk, and forces greater reliance on international growth to offset a prolonged home-market drag on revenues.

Modest and variable profitability

Modest net and mid-single-digit margins combined with interyear variability leave limited buffers against cost inflation, project overruns or adverse claims. Lower margin headroom restricts the company's ability to rapidly de-lever, absorb shocks or fund large-scale investments without external capital.

Eiffage SA Business Overview & Revenue Model

Company Description

Eiffage SA engages in the construction, infrastructure, energy systems, and concessions businesses in France and internationally. The company's Construction segment offers urban development, building design and construction, property development, and maintenance and facilities management services for public and private-sector customers. Its Infrastructure segment is involved in the civil engineering, road and rail design and construction, drainage, earthworks, and metallic construction. The company's Energy Systems segment designs, constructs, integrates, operates, and maintains of energy and telecommunication systems and installations. Its Concessions segment finances, designs, builds, maintains, and services motorways and other large infrastructure projects, public facilities, and buildings and urban developments, as well as operates toll structures under concessions and public-private partnerships. The company was incorporated in 1920 and is headquartered in Vélizy-Villacoublay, France.

How the Company Makes Money

Eiffage makes money primarily through (1) contracting revenue from construction and energy systems projects and (2) recurring income from concession assets. In its contracting activities, it earns revenue by bidding for and executing projects such as buildings, public works/civil engineering (e.g., roads, rail-related works, bridges and other infrastructure), and energy systems services (e.g., electrical, HVAC, telecoms, and industrial/maintenance services, depending on contract scope). These contracts typically generate revenue as work progresses (milestone or percentage-of-completion billing), with profitability driven by project pricing, execution efficiency, labor and materials costs, subcontracting, and risk management (delays, claims, and variations). In its concessions business, Eiffage generates longer-duration, more predictable cash flows by operating infrastructure under long-term agreements—most notably toll road concessions—earning revenue from user fees (e.g., tolls) and/or contract-based payments, depending on the concession structure. Concessions also contribute via ancillary revenues associated with operated assets (specific items not available: null). Across both models, earnings are influenced by the level of public and private investment in infrastructure and buildings, the pipeline of awarded contracts, financing conditions for concession projects, inflation and input costs, and the company’s ability to manage complex projects and maintain high asset availability and service levels under concession terms. Specific material partnerships or counterparty arrangements: null.

Eiffage SA Financial Statement Overview

Summary

Strong and consistently positive free cash flow with steady multi-year revenue growth supports a solid operating profile. This is tempered by persistently high leverage (debt roughly ~2.5x equity in 2022–2024) and modest, somewhat variable profitability.

Income Statement

Revenue has expanded steadily from 2021–2025 (with a dip in 2020), including strong acceleration in 2025. Profitability is stable and improving versus 2020, with net profit margins generally in the ~4–5% range in recent years and EBIT/EBITDA margins holding around low-teens/high-teens in 2021–2024. The key watch-out is that profitability remains modest for the level of revenue and shows some year-to-year variability, including slightly lower net income in 2025 versus 2024 despite higher sales.

Balance Sheet

The balance sheet is functional but leveraged: total debt remains high and runs at roughly ~2.5x equity in 2022–2024, which can limit flexibility in a cyclical, project-driven industry. Equity has been building over time (up from 2020–2025), and returns on equity have been consistently solid in the mid-teens in 2021–2024, signaling decent profitability on the capital base. Overall, the main weakness is the persistently heavy debt load relative to equity.

Cash Flow

Cash generation is a clear strength: operating cash flow and free cash flow are consistently positive from 2020–2025, and free cash flow has generally trended upward with strong growth in 2023 and a large step-up in 2025. Free cash flow conversion is reasonable (free cash flow below operating cash flow, but still robust), supporting reinvestment and financial flexibility. The primary concern is some variability year to year (e.g., operating cash flow down in 2025 vs. 2024 even as free cash flow stayed strong), which can occur in construction due to working-capital swings.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	25.09B	24.04B	22.37B	20.87B	19.20B
Gross Profit	3.24B	20.10B	18.42B	2.65B	2.27B
EBITDA	4.03B	4.05B	3.86B	3.41B	3.09B
Net Income	981.66M	1.04B	1.01B	896.00M	753.00M
Balance Sheet
Total Assets	40.92B	40.31B	37.83B	36.20B	33.70B
Cash, Cash Equivalents and Short-Term Investments	5.95B	6.10B	5.01B	4.82B	4.87B
Total Debt	16.76B	16.70B	15.98B	15.94B	15.32B
Total Liabilities	32.03B	32.15B	29.88B	28.77B	26.98B
Stockholders Equity	7.50B	6.72B	6.46B	6.18B	5.49B
Cash Flow
Free Cash Flow	2.71B	2.77B	2.46B	1.96B	1.70B
Operating Cash Flow	3.33B	3.71B	3.32B	2.95B	2.70B
Investing Cash Flow	-1.93B	-1.51B	-1.22B	-2.31B	-910.00M
Financing Cash Flow	-1.57B	-1.07B	-1.90B	-737.00M	-2.13B

Eiffage SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 29.31
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EFGSY, the sentiment is Negative. The current price of 29.31 is below the 20-day moving average (MA) of 32.06, below the 50-day MA of 30.93, and above the 200-day MA of 27.90, indicating a neutral trend. The MACD of -0.34 indicates Positive momentum. The RSI at 34.42 is Neutral, neither overbought nor oversold. The STOCH value of 18.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EFGSY.

Eiffage SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STRL	76 Outperform	$12.31B	32.23	30.17%	―	6.20%	72.81%
MTZ	74 Outperform	$23.71B	42.42	13.08%	―	12.99%	274.10%
TTEK	72 Outperform	$7.93B	21.14	20.29%	0.74%	4.69%	-24.37%
APG	71 Outperform	$17.20B	52.70	9.13%	―	10.69%	―
EFGSY	69 Neutral	$14.41B	11.10	14.15%	2.54%	8.31%	-2.44%
ACM	68 Neutral	$11.45B	42.33	19.75%	1.06%	0.21%	53.80%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%