Sacyr SA (SCYR) AI Stock Analysis

• Market Cap: €3.33B
• Dividend Yield: 5.28%
• Average Volume (3M): 2.32M
• Price to Earnings (P/E): 32.8
• Beta (1Y): 0.94
• Revenue Growth: 2.03%
• EPS Growth: -32.59%
• Country: ES
• Employees: 15,121
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.03
• Shares Outstanding: 805,780,150
• 10 Day Avg. Volume: 2,779,551
• 30 Day Avg. Volume: 2,319,344
• PEG Ratio: -1.35
• Price to Book (P/B): 2.96
• Price to Sales (P/S): 0.66
• P/FCF Ratio: 2.79
• 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: €4.74
• Price Target Upside: 12.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.22
• Revenue Forecast (FY): €4.80B

• Rating: 53 Neutral
• Price Target: €4.50 ▲(7.14% Upside)
• Action: Reiterated Date: 03/06/26
• Date: Action: Reiterated 03/06/26

The score is primarily constrained by elevated balance-sheet leverage and recent revenue weakness despite solid operating margins and strong cash generation. Technicals are neutral-to-mixed, offering limited directional conviction, and valuation is a headwind due to a high P/E with only a modest dividend yield.

Positive Factors

Cash generation

Consistent operating cash flow and materially positive free cash flow across recent years provide durable internal funding for working capital, capex and concessions. That persistent cash generation supports operations and gives some capacity to service and gradually reduce leverage over the medium term.

Operating margins

Sacyr exhibits solid operating and EBITDA margins over several years, indicating structural cost control and project execution capability. Durable operating profitability cushions the business against revenue volatility and underpins cash conversion in infrastructure contracts and maintenance operations.

Concessions / recurring revenue

The concessions business generates recurring, long-duration cash flows from tolls and service fees, giving revenue visibility and lower cyclicality versus pure construction revenues. That steady concession income supports long-term cash generation and partially offsets project-driven revenue swings.

Negative Factors

High leverage

Extremely high leverage leaves the company exposed to refinancing and interest-rate risk and constrains financial flexibility. Even with good cash generation, the capital structure increases vulnerability to earnings shocks and limits capacity to pursue large bids or absorb project delays over the medium term.

Revenue weakness

A multi-year decline in revenue culminating in a sharp 2025 drop reduces scale benefits and could strain margins if fixed costs persist. Prolonged top-line softness undermines backlog replenishment and weakens the base for converting operating profitability into sustained net cash available for deleveraging.

Volatile net income

Thin net margins and episodic negative earnings highlight volatility at the bottom line, complicating long-term planning. Earnings swings limit predictable debt servicing and dividend capacity, and reduce investor visibility into sustainable free cash flow after interest and non-operating items.

Sacyr SA Business Overview & Revenue Model

Company Description

Sacyr, S.A. engages in the construction and infrastructure concession services businesses worldwide. The company operates through Concessions, Engineering and Infrastructure, and Services divisions. It offers various construction services comprising civil engineering and buildings, as well as engineering and construction, and maintenance of industrial and oil and gas facilities. The company also engages in motorway, transport hub, airport, and hospital concessions business. In addition, it develops conventional and renewable energy facilities, photovoltaic and geothermal plants, and biomass energy systems; maintains power plants and industrial facilities; and designs, constructs, and operates waste treatment and waste-to-power plants, as well as manages processing plants and equipment. Further, the company engages in the implementation of refinery, chemical and petrochemical, gas handling and treatment, and liquefied natural gas projects; transportation and storage of fuels; and engineering development and construction of high-voltage electricity lines and electricity substations, as well as maintenance of medium and high-voltage electricity lines. Additionally, it offers environmental work and regeneration services; integrated water cycle management, water purification, desalination, and recycling services; facility management and maintenance, building cleaning, and ancillary services; and mining services, as well as involved in street cleaning; waste collection; sludge treatment; gardening and maintenance of green areas; parking meter management; towing; bicycle rental; and removal of vehicles from public thoroughfares. Sacyr, S.A. also engages in real estate development activities; the provision of catering services; and the operation of restaurants and hotels, petrol stations, and retail outlets. The company was formerly known as Sacyr Vallehermoso S.A. and changed its name to Sacyr, S.A. in August 2013. Sacyr, S.A. is headquartered in Madrid, Spain.

How the Company Makes Money

Sacyr generates revenue primarily through its construction and engineering services, which account for a significant portion of its income. The company undertakes public and private sector projects, often funded by government contracts or public-private partnerships. Key revenue streams include the construction of infrastructure such as roads, bridges, and tunnels, as well as the management and maintenance of these assets once completed. In addition, Sacyr earns income from its concessions division, where it operates and maintains infrastructure facilities, generating long-term revenue through tolls and service fees. The company also engages in real estate development and has partnerships with various government entities and private corporations, further enhancing its revenue potential through collaborative projects.

Sacyr SA Financial Statement Overview

Summary

Operating profitability and cash generation are strengths (Income Statement 62; Cash Flow 71), but the balance sheet is a major drag due to very high leverage (Balance Sheet 34). Recent revenue declines and thin/volatile net income also reduce confidence in near-term performance.

Income Statement

Profitability is solid at the operating level, with consistently strong operating and EBITDA margins across 2022–2025. However, bottom-line profitability remains thin (low net margin) and earnings have been volatile (including a loss in 2021). Revenue has also been soft recently, with declines in 2023–2025 (2025 showing a sharp drop), which limits confidence in the near-term growth trajectory.

Balance Sheet

Leverage is the key concern: debt is very high relative to equity (debt-to-equity roughly 8–19x across the period), indicating a balance sheet that is highly geared. Equity has improved since 2021–2022, and returns on equity are positive in recent years, but the capital structure still leaves the company more exposed to refinancing risk and earnings downturns than most peers.

Cash Flow

Cash generation is a relative strength, with operating cash flow consistently strong and free cash flow materially positive in most years, including a strong step-up in 2023–2025 versus 2022. That said, free cash flow has not consistently exceeded reported earnings (free cash flow to net income generally below 1), and cash-flow coverage versus debt remains modest, meaning deleveraging capacity may be constrained despite healthy cash inflows.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.69B	4.66B	4.57B	4.61B	4.98B	4.68B
Gross Profit	941.69M	758.34M	3.12B	3.23B	4.08B	3.07B
EBITDA	1.25B	1.27B	1.33B	1.43B	1.18B	410.34M
Net Income	92.13M	85.79M	113.37M	153.22M	110.52M	-189.18M
Balance Sheet
Total Assets	17.95B	17.57B	17.97B	17.31B	17.56B	14.98B
Cash, Cash Equivalents and Short-Term Investments	1.63B	2.06B	1.70B	1.77B	1.80B	1.95B
Total Debt	8.99B	8.58B	8.76B	8.69B	9.89B	7.94B
Total Liabilities	15.90B	15.37B	15.91B	15.56B	16.20B	14.02B
Stockholders Equity	906.76M	1.04B	1.01B	795.76M	535.66M	409.37M
Cash Flow
Free Cash Flow	0.00	1.10B	961.34M	624.31M	135.40M	427.98M
Operating Cash Flow	0.00	1.36B	1.29B	847.59M	737.75M	629.04M
Investing Cash Flow	0.00	-602.93M	-746.23M	-339.58M	-1.48B	-970.85M
Financing Cash Flow	0.00	-392.59M	-519.72M	-541.79M	854.26M	690.71M

Sacyr SA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:SCYR, the sentiment is Positive. The current price of 4.2 is below the 20-day moving average (MA) of 4.31, above the 50-day MA of 4.18, and above the 200-day MA of 3.78, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 48.11 is Neutral, neither overbought nor oversold. The STOCH value of 56.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:SCYR.

Sacyr SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENO	67 Neutral	€2.60B	18.70	-3.10%	13.00%	11.61%	-212.68%
ACS	65 Neutral	€28.38B	22.99	20.71%	2.38%	25.47%	7.63%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
ANA	60 Neutral	€11.97B	12.61	18.00%	2.87%	4.87%	339.22%
FCC	55 Neutral	€5.08B	―	7.94%	4.49%	5.00%	-64.19%
SCYR	53 Neutral	€3.33B	32.80	8.86%	5.28%	2.03%	-32.59%
OHLA	51 Neutral	€583.39M	297.92	0.29%	―	1.39%	72.34%

Sacyr SA Corporate Events

Sacyr Publishes Unaudited 2025 Results Under IFRS Framework

Sacyr SA has released unaudited financial results for 2025, prepared under International Financial Reporting Standards and accompanied by alternative performance measures intended to enhance comparability and understanding of the figures. The company stresses that the document is informational rather than an investment solicitation, noting that the data may be revised and that it assumes no liability for decisions made based on the report, underscoring a cautious approach to disclosure and regulatory compliance.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.30 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Strengthens Corporate Governance With New Board Rules

Sacyr has formalized detailed Rules of its Board of Directors as part of its broader corporate governance system, defining the board’s principles of action, internal organization and conduct standards for directors. The Rules must align with applicable laws, bylaws and internal regulations, and any amendments require a qualified two‑thirds majority, prior explanatory reports and disclosure via the company’s website, the Commercial Registry and the securities regulator.

The Rules emphasize the Board’s role as the company’s highest decision‑making body, while delegating day‑to‑day management to executive bodies and the management team, and reserving for itself key supervisory functions. These include approving strategic and business plans, budgets, investment, financing, sustainability and dividend policies, as well as setting risk management, corporate governance and group‑wide corporate policies, reinforcing oversight and clarity for shareholders and other stakeholders.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Sets February 2026 Dates for FY 2025 Results Release and Webcast

Sacyr, S.A. has scheduled the release of its 2025 annual results for February 26, 2026, after market close, with publication on the Spanish regulator’s platform and the company’s website. The group will present these figures via a live audio webcast on February 27, 2026, and will provide replay access, signaling an emphasis on transparency and remote access for investors and other stakeholders.

The planned timetable and online format ensure that analysts and shareholders can review the full-year performance promptly after disclosure. By centralizing access through dedicated webcast links and replay options, Sacyr facilitates broader engagement with its financial communications, which may support market understanding of its operating trends and strategic progress once the figures are released.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Suspends Liquidity Contract to Buy Shares for Equity Remuneration Plans

Sacyr has temporarily suspended its liquidity contract with Alantra Equities Sociedad de Valores in order to execute a planned acquisition of 9,927,793 own shares via block purchases, following the physical settlement of maturing derivative forward contracts with a financial institution. The repurchased shares will be allocated to meet commitments under the company’s variable share-based remuneration plans for the executive chairman, chief executive officer and other executives and employees, underscoring Sacyr’s ongoing use of equity incentives as part of its compensation structure.

The move clarifies to the market that the suspension of the liquidity contract is procedural and linked to a specific share acquisition operation rather than a broader change in trading policy. By earmarking the shares for remuneration schemes, Sacyr signals continued alignment of management and employee incentives with shareholder value, while providing transparency around the impact of these derivative settlements on its treasury share position.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Resumes Share Liquidity Program After Block Treasury Stock Purchase

Sacyr has announced the resumption of transactions under its share liquidity contract with Alantra Equities Sociedad de Valores, S.A., a mechanism used to enhance trading volume and stability in its listed shares. The restart of this program follows the completion of a block acquisition of treasury shares, signaling continued active management of its own stock and potentially improving market liquidity and pricing efficiency for investors.

The move underscores Sacyr’s focus on maintaining orderly trading in its securities and may support confidence among shareholders by providing additional depth in the market for its shares. By combining a substantial block repurchase with an ongoing liquidity agreement, the company reinforces its capital markets presence and aligns its treasury share strategy with broader objectives for investor access and share performance.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr’s Reserve-Funded Capital Increase Gains Approval for Trading on Spanish Exchanges

Sacyr S.A. has completed a share capital increase charged to reserves, issuing 8,922,344 new ordinary shares with a par value of €1 each, as approved by its Ordinary General Shareholders’ Meeting in June 2025. This move increases the company’s share capital without cash contributions from investors, effectively capitalizing reserves and modestly diluting existing holdings.

The Spanish securities regulator has verified that the new shares meet all requirements for admission to trading, and the governing companies of the Madrid, Barcelona, Bilbao, and Valencia stock exchanges have approved their listing. The shares will begin trading on February 6, 2026, integrating into the Spanish continuous market and enhancing the liquidity and free float of Sacyr’s stock for current and prospective shareholders.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Lists 8.9 Million New Shares on Spanish Stock Exchanges After Capital Increase

Sacyr S.A. has completed a share capital increase charged to reserves, issuing 8,922,344 new ordinary shares with a nominal value of €1 each, as approved at the company’s June 2025 Ordinary General Shareholders’ Meeting. The Spanish securities regulator has confirmed that all requirements for the admission of these new shares have been met, and the management companies of the Madrid, Barcelona, Bilbao and Valencia stock exchanges have approved their listing on the Mercado Continuo effective 6 February 2026, slightly expanding Sacyr’s free float and equity base for investors.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr’s €8.9 Million Capital Increase Shares Cleared to Trade on Spanish Exchanges

Sacyr has completed a share capital increase charged to reserves, issuing 8,922,344 new shares with a par value of €1 each, identical in class and series to the existing stock. The Spanish securities regulator CNMV has confirmed that the conditions for listing these new shares have been met, and the governing bodies of the Madrid, Barcelona, Bilbao and Valencia stock exchanges have approved their admission to trading on the Mercado Continuo as of 6 February 2026, slightly expanding Sacyr’s free float and equity base for current and prospective investors.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr’s €8.9 Million Capital Increase Shares Cleared for Trading on Spanish Bourses

Sacyr S.A. has completed a share capital increase charged to reserves, issuing 8,922,344 new shares with a par value of €1 each, identical in class and series to its existing stock. The Spanish securities regulator has confirmed that the requirements for listing these new shares have been met, and the management companies of the Madrid, Barcelona, Bilbao and Valencia stock exchanges have approved their admission to trading on the Mercado Continuo from 6 February 2026, expanding Sacyr’s free float and potentially enhancing liquidity for shareholders.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Registers €8.9 Million Capital Increase and Prepares to List New Shares

Sacyr S.A. has completed a capital increase charged to reserves amounting to €8.9 million, as approved by shareholders at the June 2025 Ordinary General Meeting, with the transaction now formally registered in the Commercial Registry of Madrid. The company plans to list the 8,922,344 newly issued shares on the Madrid, Barcelona, Bilbao and Valencia stock exchanges via the Spanish Continuous Market in the coming days, a move that will modestly expand its share capital and could slightly increase liquidity for investors.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.

Sacyr Registers €8.9 Million Capital Increase and Prepares New Shares for Trading

Sacyr S.A. has completed a share capital increase charged to reserves amounting to €8.9 million, following approval at its June 2025 Ordinary General Shareholders’ Meeting. The 8,922,344 new shares are expected to be admitted to trading shortly on the Madrid, Barcelona, Bilbao and Valencia stock exchanges via the Spanish Continuous Market, modestly expanding the company’s free float and potentially enhancing liquidity for investors.

The most recent analyst rating on (ES:SCYR) stock is a Buy with a EUR5.10 price target. To see the full list of analyst forecasts on Sacyr SA stock, see the ES:SCYR Stock Forecast page.