Ferrovial (FER) AI Stock Analysis

• Market Cap: €31.72B
• Dividend Yield: 1.43%
• Average Volume (3M): 1.74M
• Price to Earnings (P/E): 10.0
• Beta (1Y): 0.81
• Revenue Growth: 7.43%
• EPS Growth: 608.14%
• Country: ES
• Employees: 25,264
• Sector: Industrials
• Sector Strength: 87
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): N/A
• Shares Outstanding: 729,559,940
• 10 Day Avg. Volume: 1,100,749
• 30 Day Avg. Volume: 1,741,939
• PEG Ratio: 0.26
• Price to Book (P/B): 5.19
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 16.94
• 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: €47.12
• Price Target Upside: 5.77% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 78 Outperform
• Price Target: ―

Ferrovial's strong financial performance, highlighted by robust revenue growth and operational efficiency, underpins its solid stock score. Positive momentum in technical indicators and reasonable valuation support the stock's prospects. The strong earnings call further emphasizes strategic growth, although high leverage and potential short-term overvaluation are risks to monitor.

Positive Factors

Earnings

Ferrovial's Net Income reached €3,239m, well ahead of consensus and estimates, as a result of the Heathrow disposal effects.

Financial Performance

Ferrovial published a consensus-beating set of FY-24 results, driven by the Heathrow capital gain and fair value.

Growth Potential

Ferrovial's North American assets are seen as high-quality with high-growth potential and long duration.

Negative Factors

Earnings Expectations

Cintra's earnings appear too high and shares fail to offer a discounted entry point.

Market Headwinds

The combination of Macro/FX headwinds and nature of US managed lanes push EBITDA estimates down 5-7% over 2025-27e.

Price Target

There is substantial FX/inflation/GDP headwinds causing a price target cut.

Ferrovial Business Overview & Revenue Model

Company Description

Ferrovial, S.A. is a leading global infrastructure operator and municipal services company headquartered in Spain. It primarily operates in four main sectors: construction, toll roads, airports, and services. The company is renowned for its involvement in the design, construction, financing, operation, and maintenance of transport infrastructure, including highways, railways, and airports. Ferrovial is committed to sustainable development and innovation, enhancing mobility and urban services worldwide.

How the Company Makes Money

Ferrovial makes money through a diversified revenue model centered on its four main sectors: construction, toll roads, airports, and services. In the construction sector, Ferrovial earns revenue by undertaking large-scale infrastructure projects, including roads, bridges, and railways, often through long-term contracts with governments and private entities. The toll roads segment generates income by operating and managing toll roads, where revenue comes from toll collections from vehicles using these roads. In the airports sector, Ferrovial generates revenue through its ownership and operation of airports, benefiting from landing fees, passenger fees, and commercial activities within the airport premises. The services segment includes facility management, waste management, and other municipal services, where revenue is generated through contracts with local governments and private clients. Strategic partnerships and joint ventures, particularly in toll roads and airports, also contribute to Ferrovial's earnings by expanding its operational reach and sharing investment burdens with partners.

Ferrovial Financial Statement Overview

Summary

Ferrovial exhibits strong financial performance with significant revenue and profit growth. Operational efficiency is evident in improved margins and equity returns, though financial leverage remains high. Cash flow generation is robust, supporting investments and stability, despite potential risks from EBIT volatility and reliance on debt.

Income Statement

Ferrovial shows strong revenue growth, with a 7.43% increase from 2023 to 2024. The gross profit margin remains robust at around 87.85%, and the net profit margin improved significantly to 35.42%. Both EBIT and EBITDA margins have shown improvement, indicating efficient operational management. However, fluctuations in EBIT over the years suggest potential volatility.

Balance Sheet

The company's debt-to-equity ratio is high, reflecting significant leverage with a ratio of approximately 1.90 in 2024. Despite this, return on equity has improved, reaching 53.33%, indicating effective use of shareholders' funds. The equity ratio stands at 20.94%, suggesting moderate reliance on equity financing.

Cash Flow

Free cash flow growth is slightly negative at -9.35%, but the company maintains a strong operating cash flow to net income ratio of 0.40, reflecting solid cash generation capability. The free cash flow to net income ratio is healthy at 0.33, indicating good cash conversion efficiency.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
9.10B	9.15B	8.51B	7.55B	6.78B	6.34B
	Gross Profit
7.96B	8.03B	7.47B	6.35B	5.70B	5.34B
	EBIT
755.00M	3.11B	625.00M	423.00M	340.00M	189.00M
	EBITDA
1.31B	4.54B	1.31B	924.00M	1.51B	116.00M
	Net Income Common Stockholders
553.00M	3.24B	460.00M	188.00M	1.20B	-424.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
3.64B	4.81B	4.76B	5.09B	5.48B	6.42B
	Total Assets
26.63B	29.00B	26.32B	26.28B	24.90B	23.13B
	Total Debt
11.91B	11.53B	11.56B	11.84B	10.75B	9.76B
	Net Debt
8.27B	6.72B	6.81B	6.75B	5.28B	3.33B
	Total Liabilities
20.85B	20.88B	20.44B	19.93B	19.06B	19.30B
	Stockholders Equity
3.76B	6.08B	3.77B	4.11B	4.05B	3.19B
Cash Flow		Free Cash Flow
813.00M	1.07B	1.18B	907.00M	686.00M	977.00M
	Operating Cash Flow
1.18B	1.29B	1.26B	1.00B	810.00M	1.09B
	Investing Cash Flow
-945.00M	1.31B	-531.00M	-732.00M	457.00M	382.00M
	Financing Cash Flow
-1.27B	-2.59B	-1.30B	-316.00M	-2.22B	430.00M

Ferrovial Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 44.55
• 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:FER, the sentiment is Positive. The current price of 44.55 is below the 20-day moving average (MA) of 45.33, above the 50-day MA of 42.89, and above the 200-day MA of 40.08, indicating a neutral trend. The MACD of 0.37 indicates Positive momentum. The RSI at 50.81 is Neutral, neither overbought nor oversold. The STOCH value of 40.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:FER.

Ferrovial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FER	78 Outperform	€31.72B	9.96	65.54%	1.43%	7.43%	608.14%
SCYR	73 Outperform	€2.75B	23.38	12.85%	3.62%	7.52%	-31.49%
FCC	73 Outperform	€5.58B	12.71	8.78%	4.31%	0.50%	-26.45%
CAF	72 Outperform	€1.63B	15.80	11.89%	2.33%	10.10%	15.80%
Sector *	66 Neutral	$4.47B	12.22	5.40%	3.65%	4.14%	-12.00%
ACS	64 Neutral	€14.69B	17.44	16.48%	1.61%	16.50%	7.64%
ENO	50 Neutral	€1.78B	18.38	-11.39%	26.00%	0.46%	-212.00%

Ferrovial Corporate Events

Ferrovial Completes Share Buyback Program

Ferrovial has announced the completion of its share buyback program, which was initially launched in August 2024 and modified in December 2024. The program concluded on May 30, 2025, with the acquisition of 13,470,000 shares, amounting to approximately 1.846% of the company’s share capital, at a total cost of 537,835,879.02 euros. This strategic move is likely to impact Ferrovial’s market positioning by potentially enhancing shareholder value and reflecting confidence in the company’s financial health.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Announces Interim Dividend of 0.3182 Euros Per Share

Ferrovial has announced an interim dividend of 0.3182 euros per share, totaling 228 million euros, with shareholders having the option to receive the dividend in cash or shares. This announcement reflects Ferrovial’s commitment to providing flexible dividend options to its shareholders, potentially impacting its financial strategy and shareholder relations.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Progress on Share Buyback Program

Ferrovial has reported on its ongoing share buyback program, which was initially announced in August 2024 and modified in December 2024. As of May 16, 2025, the company has repurchased a total of 12,870,000 shares, amounting to over 507 million euros. This program is part of Ferrovial’s strategic financial management, potentially impacting its market positioning and shareholder value.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Introduces Flexible Dividend Plan for 2025

Ferrovial has announced a flexible dividend plan for 2025, allowing shareholders to choose between receiving dividends in cash or in new shares. This strategic move is expected to provide shareholders with more flexibility and could potentially enhance the company’s market appeal by aligning shareholder interests with company growth, while also considering tax implications and market regulations.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial’s Q1 2025 Financial Results Highlight Strategic Focus Amid Global Challenges

Ferrovial’s unaudited financial results for the first quarter of 2025 reveal the company’s ongoing strategic focus on large infrastructure projects amid a challenging global economic environment. The report highlights the company’s exposure to various risks, including geopolitical tensions, economic fluctuations, and regulatory changes, which could impact its operations and financial performance. Despite these challenges, Ferrovial is committed to maintaining its market position and meeting its ESG commitments, while navigating the complexities of international operations and competitive pressures.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Strong Q1 2025 Growth Driven by North American Operations

Ferrovial reported notable growth in the first quarter of 2025, with increased revenue and adjusted EBITDA driven by strong performance in its North American highway assets. The Construction division also saw a significant rise in its order book and profitability, while the Airports division continued its planned progress at JFK International Airport’s New Terminal One. The company’s solid financial position and strategic asset sales further bolster its market standing.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Progress on Share Buyback Program

Ferrovial has reported on its ongoing share buyback program, which was initially announced in August 2024 and modified in December 2024. As of May 9, 2025, the company has repurchased a total of 12,570,000 shares, amounting to 493,989,834.56 euros. This program reflects Ferrovial’s strategic financial management, potentially impacting shareholder value and market perception positively.

The most recent analyst rating on (ES:FER) stock is a Buy with a EUR49.00 price target. To see the full list of analyst forecasts on Ferrovial stock, see the ES:FER Stock Forecast page.

Ferrovial Reports Progress on Share Buyback Program

Ferrovial has reported on its share buyback program, which commenced on August 23, 2024, and was modified on December 13, 2024. As of May 2, 2025, the company has acquired 12,270,000 shares for a total of 480,898,732.32 euros. This program is part of Ferrovial’s strategic financial operations, potentially impacting its market position and shareholder value.

Ferrovial SE to Announce Q1 2025 Financial Results

Ferrovial SE has announced that it will release its financial results for the first quarter of 2025 on May 13, 2025, after the U.S. stock market closes. The following day, a presentation conference will be held to discuss these results, indicating the company’s commitment to transparency and stakeholder engagement.

Ferrovial Announces Key Decisions from 2025 Shareholders’ Meeting

Ferrovial’s 2025 General Shareholders’ Meeting resulted in several key decisions, including the approval of the 2024 fiscal year’s annual accounts and the re-election of several directors. The meeting also saw the appointment of PriceWaterhouseCoopers as the external auditor for the next three years and authorized the Board to issue shares and manage share capital flexibly. These decisions are set to impact Ferrovial’s operational flexibility and strategic positioning, potentially enhancing shareholder value and aligning with sustainability goals.

Ferrovial Executes Operations in Share Buyback Program

Ferrovial has announced the execution of operations under its share buyback program, which was initially launched in August 2024 and modified in December 2024. The recent operations conducted between April 11 and April 17, 2025, are part of this ongoing program, reflecting the company’s strategic financial management and potential implications for shareholder value.

Ferrovial Executes Operations in Share Buyback Program

Ferrovial announced the execution of operations under its share buyback program between April 7 and April 10, 2025. This program, initially launched in August 2024 and modified in December 2024, reflects the company’s strategic efforts to manage its capital structure and potentially enhance shareholder value.

Ferrovial’s 2024 Integrated Annual Report Highlights Sustainability and Compliance

Ferrovial has released its 2024 Integrated Annual Report, detailing its management and financial performance, sustainability efforts, and compliance with international regulations. The report highlights the company’s commitment to transparency and alignment with global standards, impacting its operations and stakeholder relations positively.

Ferrovial Executes Share Buyback Operations

Ferrovial has announced the execution of operations within its share buyback program, initially launched in August 2024 and modified in December 2024. The recent operations were conducted between March 10 and March 14, 2025, as part of the ongoing program, indicating the company’s continued focus on managing its share capital.