Elecnor (ENO) AI Stock Analysis

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Elecnor

(BME:ENO)

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Rating:60Neutral

Price Target:EUR 32.00▲(12.08% Upside)

Action:reiterated

Date:10/29/26

Moderate score led by mixed financials with earnings volatility but solid cash generation, neutral technicals, and supportive valuation from high yield.

Positive Factors

Diversified Contract ModelElecnor combines project-based engineering and construction with recurring operation, maintenance, upgrades, and asset-management services. Its concessions and infrastructure investments add potential contracted or regulated income, creating a broader earnings base than one-off construction activity alone.

Negative Factors

Revenue ContractionThe sharp 2025 revenue decline demonstrates that Elecnor’s growth profile is not consistently expanding despite its broad infrastructure exposure. Such contraction can reduce operating leverage, weaken backlog conversion, and make medium-term earnings planning more dependent on project timing.

Elecnor (ENO) vs. iShares MSCI Spain ETF (EWP)

Market Cap: EUR 2.42B
Dividend Yield: 11.19%
Average Volume (3M): 55.96K
Price to Earnings (P/E): 12.5
Beta (1Y): 0.86
Revenue Growth: 6.96%
EPS Growth: ―
Country: Spain
Employees: 29,704
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Elecnor Business Overview & Revenue Model

Company Description

Elecnor, S.A. is an international enterprise primarily focused on infrastructure development and concession management. Its operations encompass the energy sector, including the establishment and maintenance of power transmission grids and substation...

How the Company Makes Money

Elecnor primarily makes money by executing engineering, construction, installation, operation, and maintenance contracts for infrastructure and industrial clients. Under this model, revenue is recognized from (i) turnkey/EPC-style projects and multi-...

Elecnor Financial Statement Overview

Summary

Mixed performance: weak income statement with revenue decline and margin contraction offset by strong cash flow growth and improved balance sheet leverage.

Income Statement

45Neutral

Balance Sheet

60Neutral

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.58B	4.39B	3.81B	3.79B	3.39B	3.12B
Gross Profit	1.86B	719.51M	1.87B	1.63B	1.57B	1.54B
EBITDA	437.73M	298.16M	52.67M	200.27M	160.45M	269.79M
Net Income	192.97M	110.73M	705.20M	110.06M	102.81M	85.88M
Balance Sheet
Total Assets	3.83B	3.66B	3.61B	4.08B	3.56B	3.29B
Cash, Cash Equivalents and Short-Term Investments	865.12M	782.55M	429.01M	336.87M	385.36M	399.64M
Total Debt	398.40M	313.35M	270.31M	668.44M	1.04B	1.01B
Total Liabilities	2.81B	2.72B	2.44B	3.15B	2.72B	2.65B
Stockholders Equity	1.03B	943.10M	1.17B	906.45M	807.21M	609.26M
Cash Flow
Free Cash Flow	459.67M	374.56M	-2.43M	111.51M	70.96M	98.47M
Operating Cash Flow	629.75M	474.36M	94.45M	206.00M	226.87M	206.19M
Investing Cash Flow	-217.72M	-134.97M	963.31M	-268.06M	-128.55M	-99.96M
Financing Cash Flow	-153.57M	-230.08M	-1.04B	73.70M	-113.91M	-109.75M

Elecnor Technical Analysis

Technical Analysis SentimentNegative

Last Price28.55

Price Trends

50DMA30.49Negative

100DMA33.29Negative

200DMA33.17Negative

Market Momentum

MACD-0.46Negative

RSI42.41Neutral

STOCH52.78Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ENO, the sentiment is Negative. The current price of 28.55 is below the 20-day moving average (MA) of 29.47, below the 50-day MA of 30.49, and below the 200-day MA of 33.17, indicating a bearish trend. The MACD of -0.46 indicates Negative momentum. The RSI at 42.41 is Neutral, neither overbought nor oversold. The STOCH value of 52.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:ENO.

Elecnor Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

ES:ENO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ES:FER	67Neutral	EUR 36.20B	58.95	10.42%	2.19%	5.46%	-81.98%
ES:SCYR	61Neutral	EUR 3.19B	24.28	13.38%	3.21%	3.64%	41.50%
ES:ENO	60Neutral	EUR 2.42B	12.52	19.61%	11.19%	6.96%	―
ES:FCC	60Neutral	EUR 4.84B	22.73	6.14%	4.88%	9.68%	-10.60%
ES:ACS	56Neutral	EUR 24.12B	23.36	19.75%	2.56%	10.46%	14.97%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ES:ANA	51Neutral	EUR 11.13B	30.75	7.63%	2.77%	7.62%	-56.65%

* General Sector Average

Performance Comparison

ES:ENO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ES:ENO	Elecnor SA	28.55	-0.80	-2.73%
ES:ANA	Acciona SA	203.60	12.70	6.65%
ES:ACS	Actividades de Construccion y Servicios SA	90.65	18.45	25.56%
ES:FER	Ferrovial SA	50.70	-2.68	-5.02%
ES:FCC	Fomento de Construcciones y Contratas	10.24	-0.75	-6.82%
ES:SCYR	Sacyr SA	4.05	0.36	9.70%

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: Oct 29, 2026

Elecnor AI Stock Analysis