AEDAS Homes SA (ES:AEDAS)
BME:AEDAS
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AEDAS Homes SA
(BME:AEDAS)
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Rating:67Neutral
Price Target:
€26.00
▲(13.04% Upside)
Action:Downgraded
Date:05/30/26
The score is driven primarily by fundamentals that are still broadly solid but have clearly weakened recently (lower revenue/earnings and softer, volatile cash flow, alongside rising debt). Technicals are mildly supportive with steady momentum, and valuation metrics (low P/E and very high dividend yield) provide a meaningful offset.
Positive Factors
Integrated development model
Vertical integration—land acquisition, permitting, design, construction management and commercialization—lets AEDAS capture value across the project lifecycle. This durable control over timing, pricing and margins reduces reliance on third parties and supports resilience through housing cycles.
Negative Factors
Sharp revenue contraction
A ~25% top-line decline is a material structural headwind that can persist over several quarters. Reduced sales volumes erode scale, pressure gross margins and profitability, delay cash receipts from completions, and weaken the company’s ability to progress and monetize its project pipeline.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated development model
Vertical integration—land acquisition, permitting, design, construction management and commercialization—lets AEDAS capture value across the project lifecycle. This durable control over timing, pricing and margins reduces reliance on third parties and supports resilience through housing cycles.
Read all positive factors
AEDAS Homes SA (AEDAS) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€967.29M
Dividend Yield16.98%
Average Volume (3M)50.75K
Price to Earnings (P/E)8.1
Beta (1Y)0.43
Revenue Growth-24.85%
EPS Growth-59.67%
CountryES
Employees322
SectorReal Estate
Sector Strength53
IndustryResidential Construction
Share Statistics
EPS (TTM)3.46
Shares Outstanding43,700,000
10 Day Avg. Volume105,752
30 Day Avg. Volume50,749
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)1.13
Price to Sales (P/S)1.16
P/FCF Ratio12.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.51
Revenue Forecast (FY)€1.14B
AEDAS Homes SA Business Overview & Revenue Model
Company Description
Aedas Homes, S.A. is a Spanish real estate developer specializing in the construction of residential properties. The company's focus encompasses both multi-unit apartment buildings and individual family residences. Established in 2016, Aedas Homes...
How the Company Makes Money
AEDAS primarily makes money by developing residential projects and selling newly built homes to end customers. Its main revenue stream is recognized from the delivery (handover) of completed housing units, with cash typically collected in stages: ...
AEDAS Homes SA Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
66
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.16B | 868.84M | 1.16B | 1.14B | 919.81M | 765.62M |
| Gross Profit | 248.85M | 233.35M | 248.85M | 256.49M | 241.33M | 222.25M |
| EBITDA | 161.55M | 105.85M | 206.02M | 193.31M | 176.01M | 149.96M |
| Net Income | 149.72M | 60.86M | 149.72M | 108.88M | 105.07M | 93.13M |
Balance Sheet | ||||||
| Total Assets | 2.23B | 2.09B | 2.23B | 2.01B | 1.97B | 1.90B |
| Cash, Cash Equivalents and Short-Term Investments | 360.01M | 345.64M | 360.01M | 241.42M | 197.66M | 189.01M |
| Total Debt | 618.56M | 660.48M | 618.56M | 558.64M | 505.59M | 467.23M |
| Total Liabilities | 1.24B | 1.20B | 1.24B | 1.08B | 999.32M | 922.37M |
| Stockholders Equity | 985.10M | 889.72M | 985.10M | 930.52M | 969.10M | 975.92M |
Cash Flow | ||||||
| Free Cash Flow | 176.72M | 79.62M | 176.72M | 232.75M | -26.03M | 7.04M |
| Operating Cash Flow | 191.32M | 80.72M | 191.32M | 236.30M | -20.16M | 9.95M |
| Investing Cash Flow | -57.91M | 29.10M | -57.91M | -91.23M | 4.11M | -42.41M |
| Financing Cash Flow | -79.22M | -74.53M | -79.22M | -100.01M | 20.77M | 86.31M |
AEDAS Homes SA Technical Analysis
Neutral
23.00
Price Trends
23.29
Positive
23.43
Negative
22.89
Positive
Market Momentum
0.04
Positive
48.75
Neutral
45.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:AEDAS, the sentiment is Neutral. The current price of 23 is below the 20-day moving average (MA) of 23.48, below the 50-day MA of 23.29, and above the 200-day MA of 22.89, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 48.75 is Neutral, neither overbought nor oversold. The STOCH value of 45.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ES:AEDAS.
AEDAS Homes SA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | €967.29M | 8.12 | 14.75% | 16.98% | -24.85% | -59.67% | |
67 Neutral | €1.59B | 12.25 | 11.46% | 16.56% | 43.97% | 51.26% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
56 Neutral | €1.70B | -180.03 | -0.63% | 17.21% | 10.29% | 258.02% |
* Real Estate Sector Average
ES:AEDAS
AEDAS Homes SA
23.40
1.36
6.18%
ES:HOME
Neinor Homes
16.17
0.83
5.40%
ES:MVC
Metrovacesa SA
11.16
2.26
25.32%
AEDAS Homes SA Corporate Events
AEDAS Homes Confirms True and Fair View in 2025/2026 Half-Year Report
May 29, 2026
AEDAS Homes has published its half-year financial report for the second half of the 2025/2026 year, covering the period ending 31 March 2026. The company states that its summarized annual accounts have been prepared under applicable accounting pri...
AEDAS Homes Confirms Neinor Unit Holds 96.8% Stake in Governance Filing
May 29, 2026
AEDAS Homes has reported its updated ownership structure in its latest annual corporate governance report, confirming that all 43.7 million shares are fully paid, carry equal rights and that the company has not adopted loyalty shares with double v...
AEDAS Homes Holds Executive Pay in Check as It Applies Updated Remuneration Policy
May 29, 2026
AEDAS Homes has updated and maintained its directors’ remuneration policy, as approved at the July 2024 shareholders’ meeting, and currently applies it with a single executive director, the chief executive officer. For the 2025–2...
AEDAS Homes Calls July 2026 Shareholders’ Meeting With Broad Governance Agenda
May 29, 2026
AEDAS Homes’ board has called its ordinary general shareholders’ meeting for 8 July 2026 in Madrid, with a possible second call on 9 July, to address a broad governance and reporting agenda. Shareholders will be asked to approve the in...
AEDAS Homes Calls July 2026 Shareholders’ Meeting to Approve Results and Governance Measures
May 28, 2026
AEDAS Homes has convened its ordinary general shareholders’ meeting for 8 July 2026 in Madrid, with a second-call date set for 9 July if quorum is not met. Shareholders will vote on the approval of the individual and consolidated annual acco...
AEDAS Homes Lets Share Buyback Programme Lapse Without Renewal
Apr 17, 2026
AEDAS Homes has disclosed that its existing share buyback arrangement with JB Capital Markets expired in September 2025 and has not been renewed. The decision signals that the company currently has no active repurchase programme in place, a move t...
AEDAS Homes Shareholders Back Governance Changes and OpCo Share Pledge
Apr 15, 2026
AEDAS Homes reported that its Extraordinary General Shareholders’ Meeting, held in Madrid on 14 April 2026, approved all resolutions on the agenda, with a quorum representing 97.49% of share capital. Shareholders ratified the appointment and...
AEDAS Homes Calls April 2026 Extraordinary Meeting to Ratify Board and Restructure Key Terms
Mar 12, 2026
AEDAS Homes has called an extraordinary general shareholders’ meeting in Madrid for 14 April 2026, with a second-call date of 15 April if quorum is not met. Shareholders registered at least five days before the meeting will be able to attend...
Neinor Gains Strong Shareholder Backing in Mandatory Takeover of AEDAS Homes
Mar 6, 2026
Neinor DMP BidCo has secured acceptances for 7,703,747 shares in its mandatory takeover bid for AEDAS Homes, representing 84.76% of the shares targeted by the offer and 17.63% of AEDAS’s total share capital. The result, which will be reflect...
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.