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INMOCEMENTO SA
(BME:IMC)
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Rating:80Outperform
Price Target:
€4.50
▲(13.92% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by strong financial performance (notably improved profitability and healthier leverage) and very attractive valuation (low P/E and solid dividend). These strengths are partly offset by only neutral technical momentum and some cash-conversion/earnings volatility risks highlighted in the financial statements.
Positive Factors
Material profitability rebound and stronger margins
A sharp profitability rebound in 2025, with materially higher margins and net income, indicates improved unit economics and pricing power. Over 2–6 months this strengthens cash flow sustainability, dividend capacity and reinvestment ability, and provides a buffer versus cyclical downturns.
Negative Factors
Earnings volatility across years
Historic swings from a loss year to a strong rebound point to cyclical or execution-sensitive earnings. This volatility complicates forecasting and planning, raises downside risk in weaker demand periods, and makes sustained margin assumptions less certain over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Material profitability rebound and stronger margins
A sharp profitability rebound in 2025, with materially higher margins and net income, indicates improved unit economics and pricing power. Over 2–6 months this strengthens cash flow sustainability, dividend capacity and reinvestment ability, and provides a buffer versus cyclical downturns.
Read all positive factors
INMOCEMENTO SA (IMC) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€1.75B
Dividend Yield3.65%
Average Volume (3M)16.00K
Price to Earnings (P/E)6.6
Beta (1Y)0.40
Revenue Growth10.01%
EPS Growth-13.64%
CountryES
Employees1,479
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding454,878,140
10 Day Avg. Volume16,949
30 Day Avg. Volume15,999
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)0.63
Price to Sales (P/S)1.69
P/FCF Ratio6.15
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)N/A
Revenue Forecast (FY)N/A
INMOCEMENTO SA Business Overview & Revenue Model
Company Description
Inmocemento S.A. operates across the real estate and building materials industries via its subsidiary entities. The company's property ventures include the management and leasing of commercial properties such as office complexes, retail spaces, an...
How the Company Makes Money
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INMOCEMENTO SA Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
78
Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04B | 966.98M | 943.93M | 867.67M | 794.86M | 589.82M |
| Gross Profit | 704.28M | 938.07M | 571.45M | 470.33M | 370.18M | 347.01M |
| EBITDA | 330.34M | 318.91M | 308.29M | 264.92M | 170.89M | 114.09M |
| Net Income | 264.84M | 346.56M | 151.60M | 225.24M | -116.11M | 131.22M |
Balance Sheet | ||||||
| Total Assets | 4.89B | 4.71B | 4.60B | 4.54B | 4.09B | 4.17B |
| Cash, Cash Equivalents and Short-Term Investments | 531.17M | 264.79M | 151.86M | 64.31M | 110.62M | 127.03M |
| Total Debt | 695.70M | 741.43M | 1.01B | 1.30B | 980.85M | 1.17B |
| Total Liabilities | 1.51B | 1.43B | 1.67B | 1.88B | 1.78B | 1.60B |
| Stockholders Equity | 2.66B | 2.58B | 2.24B | 1.89B | 1.59B | 1.69B |
Cash Flow | ||||||
| Free Cash Flow | 328.12M | 265.40M | 285.24M | 236.37M | 120.07M | 147.27M |
| Operating Cash Flow | 380.68M | 312.16M | 336.57M | 280.15M | 153.04M | 164.89M |
| Investing Cash Flow | 39.01M | 141.07M | -49.34M | -181.98M | -168.09M | 34.31M |
| Financing Cash Flow | -282.79M | -330.99M | -218.11M | -87.86M | -17.14M | -128.34M |
INMOCEMENTO SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | €1.75B | 6.64 | 10.11% | 3.56% | 10.01% | -13.64% | |
68 Neutral | €8.98B | 10.29 | 9.95% | 2.73% | 13.21% | 20.37% | |
67 Neutral | €878.80M | 15.36 | 6.49% | 9.65% | -24.85% | -59.67% | |
67 Neutral | €1.63B | 28.48 | 3.89% | 18.33% | 57.91% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €254.14M | 30.39 | 0.93% | ― | 127.69% | ― |
* General Sector Average
ES:IMC
INMOCEMENTO SA
3.85
0.41
11.79%
ES:MRL
MERLIN Properties SOCIMI SA
14.51
2.00
15.97%
ES:ARM
Arima Real Estate SOCIMI SA
10.40
0.39
3.91%
ES:AEDAS
AEDAS Homes SA
21.35
0.35
1.67%
ES:MVC
Metrovacesa SA
10.76
2.39
28.62%
ES:YEPSA
Emperador Properties SOCIMI SA
10.40
4.48
75.62%
INMOCEMENTO SA Corporate Events
INMOCEMENTO Board Unanimously Backs 2026 Half-Year Financial Report
Jul 31, 2026
INMOCEMENTO, S.A. has approved its half-year financial report for the period ending June 30, 2026, with the board unanimously endorsing accounts prepared in line with applicable accounting principles. The report’s signatories affirm that the...
INMOCEMENTO Shareholders Approve 2025 Accounts and Dividend Distribution
Jun 26, 2026
INMOCEMENTO, S.A. reported that shareholders at its Ordinary General Meeting on 24 June 2026 approved the company’s and its consolidated group’s 2025 annual accounts, management reports, and the Board’s performance, along with th...
INMOCEMENTO Sets Mid-July Schedule for €0.15 Dividend Payment
Jun 26, 2026
INMOCEMENTO’s board has approved the payment of a cash dividend of €0.15 per share charged to the share premium reserve, following authorization at the June 2026 general shareholders’ meeting. The move underscores the companyR...
INMOCEMENTO Calls 2026 AGM, Sets Dividend and Governance Votes
May 22, 2026
INMOCEMENTO, S.A. has convened its Ordinary General Shareholders’ Meeting in Madrid for 24 June 2026, with a second call on 25 June if needed, offering shareholders options to attend in person, by proxy or via remote means. The agenda covers...
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.