Neinor Homes SA (ES:HOME)
BME:HOME
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Neinor Homes
(BME:HOME)
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Rating:67Neutral
Price Target:
€17.50
▲(2.10% Upside)
Action:Reiterated
Date:03/03/26
The score is driven primarily by solid financial performance with strong 2025 profitability and free-cash-flow rebound, offset by a materially weaker balance sheet due to higher leverage. Valuation is a meaningful positive (moderate P/E and very high dividend yield), while technicals are mixed with near-term weakness but a still-positive longer-term trend.
Positive Factors
Free Cash Flow Generation
Neinor reported a strong FCF rebound in 2025 (~€209M) and historically FCF tracked net income near 1:1, indicating durable cash generation. Reliable FCF supports funding development, servicing obligations and shareholder returns, improving resilience across cycles.
Negative Factors
Rising Leverage
A step-change in leverage materially increases refinancing and interest-rate risk and reduces financial flexibility. Higher debt loads heighten vulnerability if housing demand weakens and constrain the firm's ability to acquire land or absorb project timing delays.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Neinor reported a strong FCF rebound in 2025 (~€209M) and historically FCF tracked net income near 1:1, indicating durable cash generation. Reliable FCF supports funding development, servicing obligations and shareholder returns, improving resilience across cycles.
Read all positive factors
Neinor Homes (HOME) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€1.58B
Dividend Yield16.56%
Average Volume (3M)143.31K
Price to Earnings (P/E)13.0
Beta (1Y)0.39
Revenue Growth43.97%
EPS Growth51.26%
CountryES
Employees356
SectorGeneral
Sector StrengthN/A
IndustryResidential Construction
Share Statistics
EPS (TTM)1.33
Shares Outstanding98,862,690
10 Day Avg. Volume121,684
30 Day Avg. Volume143,311
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.38
Price to Sales (P/S)2.25
P/FCF Ratio7.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€20.30Price Target Upside18.44% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.43
Revenue Forecast (FY)€1.79B
Neinor Homes Business Overview & Revenue Model
Company Description
Neinor Homes, S.A., together with its subsidiaries, develops, promotes, rental, and manages real estate properties in Spain. The company operates through Legacy, Development, Assets Management-Servicing, and Rental segments. Its land portfolio con...
How the Company Makes Money
Neinor Homes makes money primarily by developing residential projects and selling completed housing units. Its core revenue stream is recognized from property development and home sales, typically tied to the delivery/transfer of completed homes t...
Neinor Homes Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
46
Neutral
Cash Flow
69
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 709.13M | 486.69M | 590.63M | 765.29M | 914.30M |
| Gross Profit | 197.95M | 153.23M | 185.96M | 208.99M | 242.99M |
| EBITDA | 169.24M | 104.12M | 132.72M | 120.68M | 148.78M |
| Net Income | 123.25M | 62.01M | 90.63M | 96.27M | 103.03M |
Balance Sheet | |||||
| Total Assets | 3.93B | 1.73B | 1.65B | 1.78B | 1.97B |
| Cash, Cash Equivalents and Short-Term Investments | 802.74M | 375.17M | 188.70M | 227.82M | 283.33M |
| Total Debt | 1.54B | 518.22M | 387.89M | 470.37M | 557.07M |
| Total Liabilities | 2.55B | 863.59M | 667.61M | 850.97M | 1.02B |
| Stockholders Equity | 1.16B | 858.74M | 975.37M | 927.17M | 943.38M |
Cash Flow | |||||
| Free Cash Flow | 208.83M | 101.10M | 9.88M | 148.30M | 224.46M |
| Operating Cash Flow | 209.14M | 102.58M | 10.51M | 151.56M | 225.20M |
| Investing Cash Flow | -695.28M | -24.00M | 81.00M | -21.82M | -43.78M |
| Financing Cash Flow | 692.44M | 92.31M | -130.69M | -211.85M | -141.99M |
Neinor Homes Technical Analysis
Negative
17.14
Price Trends
16.74
Negative
17.72
Negative
17.20
Negative
Market Momentum
-0.20
Positive
35.25
Neutral
12.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:HOME, the sentiment is Negative. The current price of 17.14 is above the 20-day moving average (MA) of 16.63, above the 50-day MA of 16.74, and below the 200-day MA of 17.20, indicating a bearish trend. The MACD of -0.20 indicates Positive momentum. The RSI at 35.25 is Neutral, neither overbought nor oversold. The STOCH value of 12.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:HOME.
Neinor Homes Peers Comparison
UnderperformOutperform
Sector (55)
ES:HOME
Neinor Homes
16.00
2.26
16.47%
ES:AEDAS
AEDAS Homes SA
23.35
-3.18
-11.98%
ES:MVC
Metrovacesa SA
10.74
1.75
19.51%
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.