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Hochtief
(XETRA:HOT)
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Rating:51Neutral
Price Target:
€379.00
▼(-10.74% Downside)
Action:Reiterated
Date:09/15/26
The score is held back primarily by balance-sheet risk (very high leverage and thin equity) and weak technicals (downtrend and negative momentum). These are partly offset by strong absolute cash generation and improved operating profitability, but valuation remains a secondary headwind due to a high P/E and modest yield.
Positive Factors
Revenue Growth
The substantial expansion in revenue indicates Hochtief has continued to scale its construction and infrastructure activities across multiple markets. A larger operating base can support broader client relationships, improve resource utilization, and create a stronger platform for converting backlog into future earnings.
Negative Factors
High Leverage
Very high leverage and a thin equity base reduce Hochtief’s financial flexibility if project conditions weaken or working capital moves unfavorably. The aggressive capital structure can amplify returns during strong execution, but it also increases the potential impact of operational setbacks on balance-sheet resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The substantial expansion in revenue indicates Hochtief has continued to scale its construction and infrastructure activities across multiple markets. A larger operating base can support broader client relationships, improve resource utilization, and create a stronger platform for converting backlog into future earnings.
Read all positive factors
Hochtief (HOT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€29.34B
Dividend Yield1.69%
Average Volume (3M)71.50K
Price to Earnings (P/E)33.0
Beta (1Y)1.33
Revenue Growth8.06%
EPS Growth8.35%
CountryDE
Employees63,483
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)11.81
Shares Outstanding77,711,300
10 Day Avg. Volume53,655
30 Day Avg. Volume71,499
Financial Highlights & Ratios
PEG Ratio1.72
Price to Book (P/B)20.00
Price to Sales (P/S)0.66
P/FCF Ratio15.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€497.40Price Target Upside17.15% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)14.56
Revenue Forecast (FY)€43.04B
Hochtief Business Overview & Revenue Model
Company Description
HOCHTIEF Aktiengesellschaft operates as a global construction and infrastructure enterprise. The company manages its diverse operations through several key divisions: HOCHTIEF Americas, which provides building and transportation infrastructure sol...
How the Company Makes Money
Hochtief makes money primarily by providing construction and infrastructure services under contract and, in some cases, by operating or holding interests in infrastructure assets. Key revenue streams include: (1) Contract construction and project ...
Hochtief Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
38
Negative
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.00B | 38.24B | 33.30B | 27.76B | 26.22B | 21.38B |
| Gross Profit | 3.21B | 2.91B | 8.78B | 6.85B | 6.32B | 5.29B |
| EBITDA | 2.33B | 1.66B | 2.03B | 1.07B | 969.19M | 747.08M |
| Net Income | 888.92M | 902.33M | 775.63M | 522.75M | 481.77M | 293.40M |
Balance Sheet | ||||||
| Total Assets | 28.22B | 24.94B | 24.65B | 19.01B | 18.30B | 16.24B |
| Cash, Cash Equivalents and Short-Term Investments | 8.96B | 7.07B | 6.25B | 5.78B | 4.94B | 4.57B |
| Total Debt | 9.92B | 8.20B | 8.20B | 5.50B | 5.67B | 4.83B |
| Total Liabilities | 26.83B | 23.55B | 23.46B | 17.74B | 17.07B | 15.15B |
| Stockholders Equity | 1.30B | 1.27B | 1.07B | 1.24B | 1.13B | 801.00M |
Cash Flow | ||||||
| Free Cash Flow | 1.87B | 1.61B | 1.66B | 1.12B | 863.28M | 307.96M |
| Operating Cash Flow | 2.32B | 2.04B | 2.13B | 1.34B | 1.05B | 387.20M |
| Investing Cash Flow | -316.82M | -1.61B | -1.49B | -249.67M | -484.59M | -220.00M |
| Financing Cash Flow | 747.22M | -85.51M | 346.11M | -583.61M | -167.20M | -1.08B |
Hochtief Technical Analysis
Negative
424.60
Price Trends
417.79
Negative
448.12
Negative
426.91
Negative
Market Momentum
-5.88
Negative
41.82
Neutral
35.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HOT, the sentiment is Negative. The current price of 424.6 is above the 20-day moving average (MA) of 394.95, above the 50-day MA of 417.79, and below the 200-day MA of 426.91, indicating a bearish trend. The MACD of -5.88 indicates Negative momentum. The RSI at 41.82 is Neutral, neither overbought nor oversold. The STOCH value of 35.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HOT.
Hochtief Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | €2.04B | 10.78 | 14.00% | 5.11% | 5.76% | 2.14% | |
66 Neutral | €23.97M | 0.94 | 12.62% | 25.00% | ― | ― | |
65 Neutral | €25.10B | 15.38 | 9.03% | 2.53% | 0.38% | 7.48% | |
60 Neutral | €962.94M | 26.09 | 6.80% | 4.01% | 19.45% | -38.43% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €8.53B | 29.67 | 3.04% | 1.10% | -2.22% | ― | |
51 Neutral | €29.34B | 33.01 | 69.90% | 1.69% | 8.06% | 8.35% |
* General Sector Average
DE:HOT
Hochtief
394.40
132.90
50.82%
DE:GBF
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55.60
-43.86
-44.10%
DE:HEI
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142.90
-47.25
-24.85%
DE:TKA
thyssenkrupp
13.88
4.33
45.29%
DE:VOS
Vossloh
51.10
-35.71
-41.14%
DE:AB9
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3.20
-32.10
-90.93%
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.