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Construcciones y Auxiliar de Ferrocarriles
(BME:CAF)
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Rating:63Neutral
Price Target:
€73.00
▲(20.86% Upside)
Action:Reiterated
Date:08/01/26
Overall score reflects solid technical strength (price above key moving averages) and reasonable valuation (P/E ~13.2 with a ~1.8% yield), partially offset by fundamentals where 2025 revenue contracted and cash flow conversion weakened materially despite improving balance-sheet leverage and better profitability versus earlier years.
Positive Factors
Recurring services revenue
CAF earns material recurring revenue from after-sales, maintenance and multi-year service contracts in addition to project deliveries. This installed-base revenue smooths cyclicality, creates customer lock-in across fleets and supports more predictable long-term cash flows and lifecycle margins.
Negative Factors
Weak cash conversion
Significant drop in free cash flow and lower OCF conversion indicate elevated working-capital needs or higher investments. This weak cash conversion raises reliance on external financing for growth, reduces cushion for project overruns and limits the firm's ability to consistently fund dividends or buybacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring services revenue
CAF earns material recurring revenue from after-sales, maintenance and multi-year service contracts in addition to project deliveries. This installed-base revenue smooths cyclicality, creates customer lock-in across fleets and supports more predictable long-term cash flows and lifecycle margins.
Read all positive factors
Construcciones y Auxiliar de Ferrocarriles (CAF) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€2.33B
Dividend Yield2.24%
Average Volume (3M)33.90K
Price to Earnings (P/E)9.7
Beta (1Y)0.65
Revenue Growth12.43%
EPS Growth38.72%
CountryES
Employees18,424
SectorGeneral
Sector StrengthN/A
IndustryRailroads
Share Statistics
EPS (TTM)6.99
Shares Outstanding34,280,750
10 Day Avg. Volume26,573
30 Day Avg. Volume33,901
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)2.06
Price to Sales (P/S)0.45
P/FCF Ratio41.48
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)5.35
Revenue Forecast (FY)€4.90B
Construcciones y Auxiliar de Ferrocarriles Business Overview & Revenue Model
Company Description
Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) is an international company specializing in the design, manufacture, and global distribution of railway rolling stock and various rail components. Its diverse range of vehicles encompasses hig...
How the Company Makes Money
CAF primarily generates revenue through (1) rolling stock and rail system deliveries and (2) services over the operating life of that equipment. A major revenue stream comes from contracts to design, manufacture, and deliver rail vehicles (e.g., m...
Construcciones y Auxiliar de Ferrocarriles Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.98B | 4.49B | 4.21B | 3.83B | 3.17B | 2.94B |
| Gross Profit | 1.42B | 851.60M | 738.48M | 631.67M | 540.82M | 553.59M |
| EBITDA | 475.83M | 330.20M | 338.73M | 313.90M | 249.05M | 256.94M |
| Net Income | 239.15M | 146.26M | 103.25M | 89.16M | 52.19M | 85.92M |
Balance Sheet | ||||||
| Total Assets | 5.80B | 5.53B | 5.22B | 5.05B | 4.91B | 4.27B |
| Cash, Cash Equivalents and Short-Term Investments | 639.76M | 626.31M | 598.73M | 568.24M | 611.33M | 682.74M |
| Total Debt | 902.98M | 945.85M | 910.20M | 900.68M | 957.77M | 1.01B |
| Total Liabilities | 4.76B | 4.55B | 4.32B | 4.18B | 4.13B | 3.53B |
| Stockholders Equity | 1.03B | 980.54M | 882.19M | 855.24M | 775.92M | 726.66M |
Cash Flow | ||||||
| Free Cash Flow | 33.86M | 48.63M | 98.77M | 27.19M | 33.42M | 108.96M |
| Operating Cash Flow | 158.14M | 162.25M | 184.83M | 106.13M | 110.97M | 153.55M |
| Investing Cash Flow | -34.02M | -23.30M | 97.71M | 40.64M | 27.60M | -61.23M |
| Financing Cash Flow | -42.88M | -107.90M | -130.32M | -177.69M | -220.75M | -127.10M |
Construcciones y Auxiliar de Ferrocarriles Technical Analysis
Positive
60.40
Price Trends
62.62
Positive
61.12
Positive
58.36
Positive
Market Momentum
1.70
Negative
61.43
Neutral
54.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:CAF, the sentiment is Positive. The current price of 60.4 is below the 20-day moving average (MA) of 64.60, below the 50-day MA of 62.62, and above the 200-day MA of 58.36, indicating a bullish trend. The MACD of 1.70 indicates Negative momentum. The RSI at 61.43 is Neutral, neither overbought nor oversold. The STOCH value of 54.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:CAF.
Construcciones y Auxiliar de Ferrocarriles Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | €2.33B | 9.73 | 24.38% | 2.04% | 12.43% | 38.72% | |
58 Neutral | €28.81B | 28.53 | 19.75% | 3.14% | 10.46% | 14.97% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €11.56B | 14.59 | 17.19% | 2.28% | 7.62% | -56.65% | |
45 Neutral | €356.55M | -3.13 | -165.56% | ― | 22.04% | 69.55% |
* General Sector Average
ES:CAF
Construcciones y Auxiliar de Ferrocarriles
68.00
16.01
30.79%
ES:ANA
Acciona
215.00
45.61
26.93%
ES:ACS
Actividades de Construccion y Servicios SA
110.70
47.46
75.05%
ES:TLGO
Talgo S.A.
2.75
-0.09
-3.17%
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.