Ferrovial (FER) AI Stock Analysis

• Market Cap: €32.57B
• Dividend Yield: 1.68%
• Average Volume (3M): 621.12K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 0.81
• Revenue Growth: 5.75%
• EPS Growth: 346.20%
• Country: ES
• Employees: 25,264
• Sector: Industrials
• Sector Strength: 83
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): 0.24
• Shares Outstanding: 733,755,400
• 10 Day Avg. Volume: 659,949
• 30 Day Avg. Volume: 621,120
• PEG Ratio: 0.01
• Price to Book (P/B): 4.84
• Price to Sales (P/S): 3.21
• P/FCF Ratio: 27.56
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €49.66
• Price Target Upside: 9.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10

• Rating: 76 Outperform
• Price Target: €51.00 ▲(11.96% Upside)

Ferrovial's overall stock score is supported by strong financial performance and strategic growth in key markets, particularly in North America. While technical analysis suggests limited momentum, the company's valuation and earnings call insights provide a positive outlook. Key risks include high leverage and operational challenges in specific segments.

Positive Factors

Earnings

Ferrovial published a consensus-beating set of FY-24 results, driven by the Heathrow capital gain and fair value.

Financial Performance

Ferrovial's North American assets are seen as high-quality with high-growth potential and long duration.

Revenue Expectations

US Managed Lanes beat revenue expectations by a notable +8%, with excellent performance at NTE (+11%) and I-66 (+10%).

Negative Factors

Macro/FX Headwinds

The combination of Macro/FX headwinds and nature of US managed lanes push EBITDA estimates down 5-7% over 2025-27e.

Price Target

There is substantial FX/inflation/GDP headwinds causing a price target cut.

Valuation Concerns

Cintra's earnings appear too high and shares fail to offer a discounted entry point.

Ferrovial Business Overview & Revenue Model

Company Description

Ferrovial, S.A., together with its subsidiaries, operates as an infrastructure and mobility operator in the United States, Poland, Spain, the United Kingdom, Canada, and internationally. The company engages in the design and construction of various public and private works; and development, finance, and operation of toll roads. Its construction activities include highways, tunnels, railways, bridges and viaducts, airports, intelligent toll systems, port and airport infrastructures, buildings, energy restoration, aqueducts, water treatment plants, desalination plants, digesters, thermal drying plants, chimneys and silos, caissons, storage tanks, solar power towers, oil facilities, and other construction. The company is also involved in the operation and maintenance services of urban and industrial waste water treatment plants, and water treatment and desalination plants. In addition, it develops, manufactures, and markets asphalt and bitumen products; develops, finances, and operates airports; provides integrated solutions for the development and management of electrical transmission networks; provides mobility services, including ZITY, an electric carsharing service application; undertakes engineering works; and sells hydraulic equipment. The company was founded in 1952 and is based in Madrid, Spain.

How the Company Makes Money

Ferrovial generates revenue through diverse streams, primarily from its construction and infrastructure management activities. The construction segment involves bidding for and executing contracts for public and private projects, including roads, railways, and buildings, which provide a significant portion of its earnings. The Airports division contributes through the ownership and operation of airport facilities, generating income from passenger traffic and associated services. Toll roads offer a steady revenue stream through user fees. Additionally, the Services segment focuses on facility management, urban services, and environmental services, providing ongoing contracts with municipalities and private entities. Strategic partnerships with governments and private firms for large infrastructure projects also enhance its revenue potential, alongside its international presence in markets such as the United States, Canada, and the UK.

Ferrovial Financial Statement Overview

Summary

Ferrovial demonstrates strong financial performance with significant revenue growth and improved profit margins. High leverage is a concern, but effective equity returns and solid cash flow generation support the company's financial stability.

Income Statement

Ferrovial shows strong revenue growth, with a 7.43% increase from 2023 to 2024. The gross profit margin remains robust at around 87.85%, and the net profit margin improved significantly to 35.42%. Both EBIT and EBITDA margins have shown improvement, indicating efficient operational management. However, fluctuations in EBIT over the years suggest potential volatility.

Balance Sheet

The company's debt-to-equity ratio is high, reflecting significant leverage with a ratio of approximately 1.90 in 2024. Despite this, return on equity has improved, reaching 53.33%, indicating effective use of shareholders' funds. The equity ratio stands at 20.94%, suggesting moderate reliance on equity financing.

Cash Flow

Free cash flow growth is slightly negative at -9.35%, but the company maintains a strong operating cash flow to net income ratio of 0.40, reflecting solid cash generation capability. The free cash flow to net income ratio is healthy at 0.33, indicating good cash conversion efficiency.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.15B	8.51B	7.55B	6.78B	6.34B
Gross Profit	8.03B	7.47B	6.35B	5.70B	5.34B
EBITDA	4.30B	1.31B	924.00M	1.51B	116.00M
Net Income	3.24B	460.00M	188.00M	1.20B	-424.00M
Balance Sheet
Total Assets	29.00B	26.32B	26.28B	24.90B	23.13B
Cash, Cash Equivalents and Short-Term Investments	4.81B	4.76B	5.09B	5.48B	6.42B
Total Debt	11.53B	11.56B	11.84B	10.75B	9.76B
Total Liabilities	20.88B	20.44B	19.93B	19.06B	19.30B
Stockholders Equity	6.08B	3.77B	4.11B	4.05B	3.19B
Cash Flow
Free Cash Flow	1.07B	1.18B	907.00M	686.00M	977.00M
Operating Cash Flow	1.29B	1.26B	1.00B	810.00M	1.09B
Investing Cash Flow	1.31B	-531.00M	-732.00M	457.00M	382.00M
Financing Cash Flow	-2.59B	-1.30B	-316.00M	-2.22B	430.00M

Ferrovial Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 45.55
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:FER, the sentiment is Positive. The current price of 45.55 is above the 20-day moving average (MA) of 45.14, above the 50-day MA of 44.88, and above the 200-day MA of 41.75, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 57.27 is Neutral, neither overbought nor oversold. The STOCH value of 68.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:FER.

Ferrovial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FER	76 Outperform	€32.57B	9.77	69.30%	1.68%	5.75%	346.20%
Sector *	63 Neutral	$10.80B	16.55	6.58%	2.06%	2.37%	-15.86%
0HAC	―	€17.06B	19.40	19.75%	―	―	―
0RKF	―	€1.83B	14.73	14.10%	―	―	―
0K97	―	€2.02B	16.61	-6.79%	―	―	―
0HAA	―	€5.07B	21.36	5.28%	―	―	―
0OFU	―	€2.90B	31.43	9.65%	―	―	―

Ferrovial Corporate Events

Ferrovial Advances Share Buyback Program

Ferrovial announced the progress of its share buyback program, which began on June 2, 2025. By June 20, 2025, the company had acquired 450,000 shares for over 20 million euros. This initiative is part of Ferrovial’s strategy to enhance shareholder value and strengthen its market position.

The most recent analyst rating on (ES:FER) stock is a Hold with a EUR42.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Announces New Share Issuance in Flexible Dividend Program

Ferrovial has announced the issuance of new shares as part of its flexible dividend program, offering shareholders the option to receive dividends in cash or additional shares. With a total of 4,195,421 new shares to be issued, the move reflects a significant shareholder preference for stock dividends, as 82.48% opted for or defaulted to receiving shares. This decision is expected to impact Ferrovial’s capital structure and market positioning, as the new shares will be traded on major exchanges, including the Spanish Exchanges, Euronext Amsterdam, and Nasdaq Global Select Market.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Advances Share Buyback Program with Significant Share Acquisition

Ferrovial announced the execution of its share buyback program, acquiring 300,000 shares for over 13 million euros between June 9 and June 13, 2025. This move is part of a broader strategy to enhance shareholder value and reflects the company’s robust financial position and commitment to returning capital to shareholders.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Completes Share Buyback Program

Ferrovial has announced the completion of its share buyback program, which was initially launched in August 2024 and modified in December 2024. The program concluded on May 30, 2025, with the acquisition of 13,470,000 shares, amounting to approximately 1.846% of the company’s share capital, at a total cost of 537,835,879.02 euros. This strategic move is likely to impact Ferrovial’s market positioning by potentially enhancing shareholder value and reflecting confidence in the company’s financial health.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Announces Interim Dividend of 0.3182 Euros Per Share

Ferrovial has announced an interim dividend of 0.3182 euros per share, totaling 228 million euros, with shareholders having the option to receive the dividend in cash or shares. This announcement reflects Ferrovial’s commitment to providing flexible dividend options to its shareholders, potentially impacting its financial strategy and shareholder relations.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Progress on Share Buyback Program

Ferrovial has reported on its ongoing share buyback program, which was initially announced in August 2024 and modified in December 2024. As of May 16, 2025, the company has repurchased a total of 12,870,000 shares, amounting to over 507 million euros. This program is part of Ferrovial’s strategic financial management, potentially impacting its market positioning and shareholder value.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Introduces Flexible Dividend Plan for 2025

Ferrovial has announced a flexible dividend plan for 2025, allowing shareholders to choose between receiving dividends in cash or in new shares. This strategic move is expected to provide shareholders with more flexibility and could potentially enhance the company’s market appeal by aligning shareholder interests with company growth, while also considering tax implications and market regulations.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial’s Q1 2025 Financial Results Highlight Strategic Focus Amid Global Challenges

Ferrovial’s unaudited financial results for the first quarter of 2025 reveal the company’s ongoing strategic focus on large infrastructure projects amid a challenging global economic environment. The report highlights the company’s exposure to various risks, including geopolitical tensions, economic fluctuations, and regulatory changes, which could impact its operations and financial performance. Despite these challenges, Ferrovial is committed to maintaining its market position and meeting its ESG commitments, while navigating the complexities of international operations and competitive pressures.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Strong Q1 2025 Growth Driven by North American Operations

Ferrovial reported notable growth in the first quarter of 2025, with increased revenue and adjusted EBITDA driven by strong performance in its North American highway assets. The Construction division also saw a significant rise in its order book and profitability, while the Airports division continued its planned progress at JFK International Airport’s New Terminal One. The company’s solid financial position and strategic asset sales further bolster its market standing.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Progress on Share Buyback Program

Ferrovial has reported on its ongoing share buyback program, which was initially announced in August 2024 and modified in December 2024. As of May 9, 2025, the company has repurchased a total of 12,570,000 shares, amounting to 493,989,834.56 euros. This program reflects Ferrovial’s strategic financial management, potentially impacting shareholder value and market perception positively.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.