INMOCEMENTO SA (IMC) AI Stock Analysis

INMOCEMENTO SA

(BME:IMC)

Select Model

Rating:80Outperform

Price Target:EUR 4.50▲(26.76% Upside)

Action:reiterated

Date:08/04/26

The score is driven primarily by strong financial performance (notably improved profitability and healthier leverage) and very attractive valuation (low P/E and solid dividend). These strengths are partly offset by only neutral technical momentum and some cash-conversion/earnings volatility risks highlighted in the financial statements.

Positive Factors

Material profitability rebound and stronger marginsA sharp profitability rebound in 2025, with materially higher margins and net income, indicates improved unit economics and pricing power. Over 2–6 months this strengthens cash flow sustainability, dividend capacity and reinvestment ability, and provides a buffer versus cyclical downturns.

Negative Factors

Earnings volatility across yearsHistoric swings from a loss year to a strong rebound point to cyclical or execution-sensitive earnings. This volatility complicates forecasting and planning, raises downside risk in weaker demand periods, and makes sustained margin assumptions less certain over the medium term.

INMOCEMENTO SA (IMC) vs. iShares MSCI Spain ETF (EWP)

Market Cap: EUR 1.61B
Dividend Yield: 4.23%
Average Volume (3M): 11.37K
Price to Earnings (P/E): 6.1
Beta (1Y): 0.38
Revenue Growth: 10.01%
EPS Growth: -13.64%
Country: Spain
Employees: 1,479
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

INMOCEMENTO SA Business Overview & Revenue Model

Company Description

Inmocemento S.A. operates across the real estate and building materials industries via its subsidiary entities. The company's property ventures include the management and leasing of commercial properties such as office complexes, retail spaces, and s...

How the Company Makes Money

null

INMOCEMENTO SA Financial Statement Overview

Summary

Strong overall financial profile driven by a sharp profitability rebound (Income Statement Score 84) and improving leverage (Balance Sheet Score 78). Free cash flow is meaningful (Cash Flow Score 73), but earnings have been volatile across years and operating cash flow is relatively low versus net income, which tempers the score.

Income Statement

84Very Positive

Balance Sheet

78Positive

Cash Flow

73Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.04B	966.98M	943.93M	867.67M	794.86M	589.82M
Gross Profit	704.28M	938.07M	571.45M	470.33M	370.18M	347.01M
EBITDA	330.34M	318.91M	312.25M	268.50M	172.71M	116.11M
Net Income	264.84M	346.56M	151.60M	225.24M	-116.11M	131.22M
Balance Sheet
Total Assets	4.89B	4.71B	4.60B	4.54B	4.09B	4.17B
Cash, Cash Equivalents and Short-Term Investments	531.17M	264.79M	151.86M	64.31M	110.62M	127.03M
Total Debt	695.70M	741.43M	1.01B	1.30B	980.85M	1.17B
Total Liabilities	1.51B	1.43B	1.67B	1.88B	1.78B	1.60B
Stockholders Equity	2.66B	2.58B	2.24B	1.89B	1.59B	1.69B
Cash Flow
Free Cash Flow	328.12M	265.40M	285.24M	236.37M	120.07M	147.27M
Operating Cash Flow	380.68M	312.16M	336.57M	280.15M	153.04M	164.89M
Investing Cash Flow	39.01M	141.07M	-49.34M	-181.98M	-168.09M	34.31M
Financing Cash Flow	-282.79M	-330.99M	-218.11M	-87.86M	-17.14M	-128.34M

INMOCEMENTO SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

ES:IMC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ES:MVC	80Outperform	EUR 1.64B	25.27	4.47%	18.63%	57.91%	―
ES:IMC	80Outperform	EUR 1.61B	6.12	10.11%	4.23%	10.01%	-13.64%
ES:MRL	63Neutral	EUR 7.10B	8.13	9.95%	1.88%	13.21%	20.37%
ES:AEDAS	62Neutral	EUR 977.58M	17.02	6.95%	8.80%	-24.85%	-59.67%
ES:ARM	62Neutral	EUR 327.45M	13.91	6.96%	7.51%	209.70%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

ES:IMC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ES:IMC	INMOCEMENTO SA	3.55	0.13	3.95%
ES:MRL	Merlin Properties (OTC)	11.47	-1.62	-12.35%
ES:ARM	Arima Real Estate SOCIMI SA	13.40	4.24	46.34%
ES:AEDAS	AEDAS Homes SA	23.75	2.50	11.76%
ES:MVC	Metrovacesa SA	10.84	1.11	11.37%
ES:YEPSA	Emperador Properties SOCIMI SA	10.60	4.38	70.47%

INMOCEMENTO SA Corporate Events

INMOCEMENTO Board Unanimously Backs 2026 Half-Year Financial Report

Jul 31, 2026

INMOCEMENTO, S.A. has approved its half-year financial report for the period ending June 30, 2026, with the board unanimously endorsing accounts prepared in line with applicable accounting principles. The report’s signatories affirm that the su...

INMOCEMENTO Shareholders Approve 2025 Accounts and Dividend Distribution

Jun 26, 2026

INMOCEMENTO, S.A. reported that shareholders at its Ordinary General Meeting on 24 June 2026 approved the company’s and its consolidated group’s 2025 annual accounts, management reports, and the Board’s performance, along with the v...

INMOCEMENTO Sets Mid-July Schedule for €0.15 Dividend Payment

Jun 26, 2026

INMOCEMENTO’s board has approved the payment of a cash dividend of €0.15 per share charged to the share premium reserve, following authorization at the June 2026 general shareholders’ meeting. The move underscores the company’...

INMOCEMENTO Calls 2026 AGM, Sets Dividend and Governance Votes

May 22, 2026

INMOCEMENTO, S.A. has convened its Ordinary General Shareholders’ Meeting in Madrid for 24 June 2026, with a second call on 25 June if needed, offering shareholders options to attend in person, by proxy or via remote means. The agenda covers ap...

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: Aug 04, 2026

INMOCEMENTO SA AI Stock Analysis