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Webuild SpA
(WBD)
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Rating:50Neutral
Price Target:
€2.50
▼(-7.41% Downside)
Action:Downgraded
Date:04/11/26
The score is held back primarily by volatile and recently weak cash generation (2025 negative free cash flow) alongside thin/weakening profitability and elevated leverage. Technicals also lean bearish with the stock below key moving averages and negative MACD. A reasonable P/E and ~3% dividend provide some support but are not enough to outweigh the financial and trend risks.
Positive Factors
Sustained Revenue Growth
Consistent revenue expansion from 2022–2025 indicates durable project wins and scale in large EPC contracts. Sustained top-line growth supports utilization of operational capacity and provides a platform for margin recovery if execution stabilizes, helping earnings resilience over months.
Negative Factors
Weak Cash Generation
A large drop in operating cash flow and a sizable negative free cash flow in 2025 indicate the business is consuming working capital and not converting earnings into cash. This raises structural funding risk, constrains reinvestment and heightens reliance on external financing across the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent revenue expansion from 2022–2025 indicates durable project wins and scale in large EPC contracts. Sustained top-line growth supports utilization of operational capacity and provides a platform for margin recovery if execution stabilizes, helping earnings resilience over months.
Read all positive factors
Webuild SpA (WBD) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€2.28B
Dividend Yield2.32%
Average Volume (3M)2.00M
Price to Earnings (P/E)9.1
Beta (1Y)1.22
Revenue Growth14.59%
EPS Growth23.80%
CountryIT
Employees43,430
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.25
Shares Outstanding1,017,688,400
10 Day Avg. Volume2,256,355
30 Day Avg. Volume1,996,536
Financial Highlights & Ratios
PEG Ratio0.71
Price to Book (P/B)2.01
Price to Sales (P/S)0.27
P/FCF Ratio-6.04
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)0.33
Revenue Forecast (FY)€13.67B
Webuild SpA Business Overview & Revenue Model
Company Description
Webuild S.p.A. is a leading global construction firm focused on the design and execution of various infrastructure projects. The company's expertise extends across key sectors such as transportation, hydroelectric power generation, water managemen...
How the Company Makes Money
Webuild primarily makes money by winning and executing large infrastructure contracts and recognizing revenue as project milestones are delivered under long-term construction agreements. Its main revenue stream is the value of works performed on c...
Webuild SpA Financial Statement Overview
Summary
Income Statement
61
Positive
Balance Sheet
54
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.64B | 11.03B | 9.29B | 7.66B | 6.13B |
| Gross Profit | 2.88B | 3.21B | 2.68B | 2.23B | 1.69B |
| EBITDA | 445.91M | 281.28M | 254.08M | 239.61M | -34.16M |
| Net Income | 239.85M | 194.48M | 124.00M | 9.89M | -304.95M |
Balance Sheet | |||||
| Total Assets | 17.83B | 18.25B | 16.16B | 12.88B | 12.33B |
| Cash, Cash Equivalents and Short-Term Investments | 2.45B | 3.22B | 3.06B | 1.94B | 2.38B |
| Total Debt | 3.07B | 2.94B | 2.61B | 2.62B | 2.65B |
| Total Liabilities | 16.04B | 16.30B | 14.47B | 10.94B | 10.47B |
| Stockholders Equity | 1.67B | 1.71B | 1.51B | 1.58B | 1.59B |
Cash Flow | |||||
| Free Cash Flow | -556.86M | 290.74M | 1.45B | -246.15M | 1.01B |
| Operating Cash Flow | 312.49M | 1.12B | 1.89B | 26.50M | 1.21B |
| Investing Cash Flow | -956.86M | -886.71M | -452.87M | -242.77M | -205.71M |
| Financing Cash Flow | 9.42M | -93.57M | -282.74M | -243.76M | -1.08B |
Webuild SpA Technical Analysis
Negative
2.70
Price Trends
2.45
Negative
2.58
Negative
2.96
Negative
Market Momentum
-0.05
Positive
39.88
Neutral
17.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:WBD, the sentiment is Negative. The current price of 2.7 is above the 20-day moving average (MA) of 2.38, above the 50-day MA of 2.45, and below the 200-day MA of 2.96, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 39.88 is Neutral, neither overbought nor oversold. The STOCH value of 17.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:WBD.
Webuild SpA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €4.84B | 17.56 | 42.37% | 2.73% | 12.34% | 23.90% | |
72 Outperform | €42.75B | 31.03 | 22.15% | 0.93% | 10.97% | 94.23% | |
66 Neutral | €8.67B | 34.61 | 13.05% | 6.99% | 6.52% | 1.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €2.28B | 9.11 | 15.02% | 2.32% | 14.59% | 23.80% | |
49 Neutral | €3.91B | 23.53 | 14.30% | ― | 12.19% | 177.33% |
* General Sector Average
IT:WBD
Webuild SpA
2.28
-1.29
-36.25%
IT:FCT
Fincantieri S.p.A.
10.90
-5.37
-33.01%
IT:MAIRE
MaireTecnimont SpA
14.78
3.27
28.37%
IT:PRY
Prysmian SpA
146.30
87.36
148.22%
IT:TFIN
TREVI Finanziaria Industriale S.p.A.
4.04
0.84
26.37%
IT:SPM
Saipem SpA
4.40
2.17
97.62%
Webuild SpA Corporate Events
Webuild Publishes Updated Bylaws as Governance Framework Evolves
Jun 9, 2026
Webuild S.p.A. has filed its updated corporate bylaws with the Companies Register of Milan – Monza Brianza – Lodi, making the new governance document publicly available on its website, at its registered office and via the 1Info authori...
Webuild Updates Share Structure After Partial Exercise of Anti-Dilution Warrants
Jun 5, 2026
Webuild S.p.A. has updated the composition of its share capital and total voting rights following the partial exercise of its 2021–2030 anti-dilution warrants, resulting in the issue of 165 new ordinary shares. The overall share capital rema...
Webuild’s Lane Wins $1 Billion Ohio River Tunnel Contract in Pittsburgh
Jun 3, 2026
Lane, the U.S. subsidiary of Italy’s Webuild, has secured a USD 1 billion (€876 million) contract in joint venture with Brayman Construction to build the Ohio River Tunnel in Pittsburgh, the first major deep tunnel in the Allegheny Cou...
Webuild Publishes Shareholders’ Meeting Minutes and CEO Bond Decision
May 27, 2026
Webuild SpA has made available to the public the minutes of its ordinary shareholders’ meeting held on 29 April 2026 and a decision by its chief executive officer related to a recently communicated bond issue. The documents can be accessed o...
Webuild to Part Ways with Long-Serving Finance Chief, Ensuring Smooth Transition
May 26, 2026
Webuild SpA has reached a mutual agreement with General Manager Corporate and Finance, and officer responsible for drafting the company’s accounting documents, Massimo Ferrari, to end his employment effective September 30, 2026. The timing, ...
Webuild Ends NEOM High-Speed Rail Contract as Saudi Client Pulls Out
May 21, 2026
NEOM has exercised its contractual right to withdraw from the Connector High-Speed Line project in Sharma, Saudi Arabia, a high-speed railway along the northern Red Sea coast where Webuild had reached about 20% progress. The termination becomes ef...
Webuild Extends Debt Maturities with Heavily Oversubscribed €500 Million Bond
May 8, 2026
Webuild SpA has reinforced its position in international capital markets by completing a €500 million bond issue due 2032 and a related tender offer for its 2027 notes, repurchasing about half of the outstanding nominal value. The transactio...
Webuild extends debt profile with heavily oversubscribed €500 million bond
May 8, 2026
Webuild has completed a liability management transaction combining the placement of a new €500 million bond maturing in 2032 with the repurchase of about half of its outstanding 2027 notes, in a move that attracted peak orders of over €...
Webuild Reports Return of Over 10 Million Lent Shares to Salini S.p.A.
May 6, 2026
Webuild S.p.A. disclosed an internal dealing transaction involving Salini S.p.A., a legal entity closely associated with CEO Pietro Salini, concerning the company’s ordinary shares. The notice reports the return to Salini S.p.A. of 10,175,34...
Webuild Shareholders Approve 2025 Results, Dividends and New Audit Board
Apr 29, 2026
Webuild S.p.A.’s shareholders approved the 2025 separate financial statements and confirmed a dividend of €0.081 per ordinary share and €0.26 per savings share, payable in May 2026. They also endorsed the group’s 2026–...
Webuild Raises €500 Million in Oversubscribed Bond to Refinance Debt and Extend Maturities
Apr 28, 2026
Webuild has successfully priced a €500 million senior unsecured fixed-rate bond with a six-year maturity and a 4.5% annual coupon, issued at par and reserved for qualified investors, with planned listing on Euronext Dublin. The proceeds will...
Webuild Plans New Bond Issue to Optimize Debt Profile
Apr 27, 2026
Webuild is preparing a new issue of senior unsecured fixed-rate bonds, engaging in a roadshow with Italian and international qualified investors, with a syndicate of major global banks acting as joint lead managers and co-managers. The bonds will ...
Webuild Publishes Updated Bylaws, Underscoring Governance Transparency
Apr 22, 2026
Webuild S.p.A., the Italian-based infrastructure group recognized as a global leader in sustainable mobility, hydroelectric and water infrastructure, and green building, continues to leverage its 120-year track record across nearly 50 countries, s...
Webuild Updates Share Count and Voting Rights After Warrant Exercise
Apr 21, 2026
Webuild S.p.A., the Italian infrastructure group listed in Milan, has marginally updated its share structure following the issue of 1,327 ordinary shares tied to the partial exercise of its 2021–2030 warrants. The transaction leaves the comp...
Webuild’s Lane Wins $582 Million Contract to Expand Florida’s I‑4 Corridor
Apr 9, 2026
Webuild’s U.S. subsidiary Lane has secured a $582 million contract to design and build a key segment of Florida’s Interstate‑4 modernization, upgrading a 5‑kilometer stretch where I‑4 meets State Road 429, one of Cent...
Webuild Reports March 2026 Share Purchases on Italian Market
Apr 8, 2026
Webuild disclosed a series of share purchase transactions in its own stock executed on the Italian market by Intermonte SIM S.p.A. during March 2026. The trades, all on the EXM segment in Milan, involved multiple daily purchases at varying prices ...
Webuild Publishes Shareholder Lists for New Statutory Auditors
Apr 7, 2026
Webuild S.p.A., an Italian-based global infrastructure group focused on sustainable transport, energy and water projects, operates in around 50 countries and has built an extensive portfolio of railways, metro systems, roads, bridges and dams over...
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.