Bilfinger (GBF) AI Stock Analysis

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Bilfinger

(XETRA:GBF)

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Rating:67Neutral

Price Target:EUR 66.00▲(9.91% Upside)

Action:reiterated

Date:11/13/26

The score is driven primarily by solid financial performance—strong balance sheet deleveraging/low debt and improving cash generation—offset by the significant TTM revenue decline, which introduces near-term volatility risk. Technicals remain a headwind given the stock is below key longer-term moving averages, while valuation helps support the rating through a reasonable P/E and a strong dividend yield.

Positive Factors

Conservative balance sheetDeleveraging to zero reported TTM debt and growing equity give Bilfinger substantial financial flexibility. A conservative capital structure can help absorb project variability, support customer delivery, and preserve capacity for investment without heavy reliance on lenders over the next several quarters.

Negative Factors

Sharp TTM revenue declineThe pronounced TTM revenue contraction indicates that recent activity has been uneven, whether from demand or contract timing. In a project-driven business, lower volume can reduce utilization and operating leverage, making revenue recovery an important determinant of results over the next several quarters.

Bilfinger (GBF) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 2.25B
Dividend Yield: 4.66%
Average Volume (3M): 165.01K
Price to Earnings (P/E): 12.7
Beta (1Y): 1.54
Revenue Growth: 3.42%
EPS Growth: -4.18%
Country: Germany
Employees: 30,749
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Bilfinger Business Overview & Revenue Model

Company Description

Bilfinger SE, founded in Mannheim, Germany, in 1880, provides a comprehensive array of industrial services. The company primarily supports clients within the process industry across Europe, North America, and the Middle East. Their extensive service...

How the Company Makes Money

Bilfinger primarily makes money by providing industrial services to process-industry customers under customer contracts, generating revenue when services are delivered (e.g., via time-and-materials arrangements, unit-rate/service catalog pricing, or...

Bilfinger Financial Statement Overview

Summary

Financials are solid overall: profitability has improved versus 2022 (net margin recovering to ~3–4% TTM) and free cash flow is strong with robust TTM growth (+136%). The balance sheet is a key strength with sharply reduced leverage and TTM showing zero debt, supporting resilience. The main drag is the pronounced TTM revenue decline (-35.2%), which raises near-term demand/contract timing risk and can pressure operating leverage in a project-driven business.

Income Statement

63Positive

Balance Sheet

78Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.55B	5.43B	5.04B	4.49B	4.31B	3.74B
Gross Profit	596.70M	617.20M	546.80M	463.50M	437.10M	387.00M
EBITDA	369.60M	408.30M	394.30M	296.00M	171.60M	246.80M
Net Income	176.00M	176.00M	179.50M	181.50M	28.20M	129.50M
Balance Sheet
Total Assets	3.81B	3.66B	3.46B	3.36B	3.05B	3.15B
Cash, Cash Equivalents and Short-Term Investments	586.10M	519.20M	533.50M	728.90M	615.90M	861.40M
Total Debt	518.20M	373.60M	376.50M	608.80M	443.50M	449.40M
Total Liabilities	2.39B	2.31B	2.15B	2.18B	1.97B	1.86B
Stockholders Equity	1.41B	1.33B	1.30B	1.17B	1.09B	1.30B
Cash Flow
Free Cash Flow	208.40M	299.00M	177.90M	86.20M	106.30M	53.70M
Operating Cash Flow	281.40M	364.30M	241.10M	144.80M	158.00M	115.00M
Investing Cash Flow	-112.70M	-94.70M	111.60M	-217.60M	156.10M	283.10M
Financing Cash Flow	-55.40M	-214.30M	-427.70M	40.70M	-382.80M	-239.00M

Bilfinger Technical Analysis

Technical Analysis SentimentNegative

Last Price60.05

Price Trends

50DMA60.50Negative

100DMA70.98Negative

200DMA84.60Negative

Market Momentum

MACD0.61Negative

RSI50.87Neutral

STOCH38.16Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:GBF, the sentiment is Negative. The current price of 60.05 is above the 20-day moving average (MA) of 58.74, below the 50-day MA of 60.50, and below the 200-day MA of 84.60, indicating a neutral trend. The MACD of 0.61 indicates Negative momentum. The RSI at 50.87 is Neutral, neither overbought nor oversold. The STOCH value of 38.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:GBF.

Bilfinger Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:GBF against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:GBF	67Neutral	EUR 2.25B	12.67	12.87%	4.66%	3.42%	-4.18%
DE:BNR	65Neutral	EUR 8.29B	22.30	8.53%	3.24%	0.32%	-8.91%
DE:HOT	57Neutral	EUR 28.79B	28.91	68.83%	1.76%	11.48%	14.30%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:BYW	42Neutral	EUR 852.08M	-0.07	-377.02%	―	―	―

* General Sector Average

Performance Comparison

DE:GBF and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:GBF	Bilfinger SE	60.05	-36.27	-37.65%
DE:B5A0	Bauer AG	5.70	0.40	7.55%
DE:BYW	BayWa (0AH6)	6.42	-6.88	-51.73%
DE:BNR	Brenntag AG (UK)	58.66	11.98	25.66%
DE:CEV	Centrotec Sustainable	48.20	-11.76	-19.61%
DE:HOT	Hochtief AG	374.40	93.39	33.23%

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.

Date of analysis: Nov 13, 2026

Bilfinger AI Stock Analysis