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Metrovacesa SA
(BME:MVC)
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Rating:67Neutral
Price Target:
€12.00
▲(11.32% Upside)
Action:Downgraded
Date:08/04/26
The score is driven primarily by improving financial performance—stronger 2025 growth, profitability, and notably stronger free cash flow—supported by conservative leverage. This is tempered by historical earnings volatility and only modest ROE. Technical indicators are neutral-to-slightly weak, and valuation is mixed due to a high P/E despite a very high dividend yield.
Positive Factors
Revenue and Profitability Recovery
The return to strong revenue growth and positive operating and net margins indicates improved project deliveries and operating execution. Sustaining this recovery would strengthen earnings capacity as the residential development pipeline converts into completed homes.
Negative Factors
Volatile Earnings History
Repeated loss years and unstable margins show that profitability is sensitive to development timing, project mix and market conditions. This reduces confidence that the 2025 earnings recovery will translate into consistently predictable results over several cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Recovery
The return to strong revenue growth and positive operating and net margins indicates improved project deliveries and operating execution. Sustaining this recovery would strengthen earnings capacity as the residential development pipeline converts into completed homes.
Read all positive factors
Metrovacesa SA (MVC) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€1.59B
Dividend Yield19.2%
Average Volume (3M)79.31K
Price to Earnings (P/E)27.8
Beta (1Y)0.60
Revenue Growth57.91%
EPS GrowthN/A
CountryES
Employees210
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.38
Shares Outstanding151,676,330
10 Day Avg. Volume72,764
30 Day Avg. Volume79,315
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.00
Price to Sales (P/S)2.00
P/FCF Ratio6.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.45
Revenue Forecast (FY)€729.52M
Metrovacesa SA Business Overview & Revenue Model
Company Description
Metrovacesa S.A. is a Spanish property development firm, founded in 1918 and headquartered in Madrid. The company's operations involve the construction and sale of a variety of assets, including diverse residential properties such as single-family...
How the Company Makes Money
Metrovacesa makes money mainly through the promotion and sale of residential properties. Its core revenue stream is recognized from delivering completed homes to buyers (individuals and, where applicable, institutional purchasers), with cash gener...
Metrovacesa SA Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 708.46M | 653.76M | 586.46M | 519.21M | 510.74M |
| Gross Profit | 163.92M | 184.27M | 580.62M | 97.08M | 512.10M |
| EBITDA | 95.62M | 48.20M | 12.27M | -1.31M | 27.38M |
| Net Income | 56.86M | 15.88M | -20.84M | -23.48M | 18.46M |
Balance Sheet | |||||
| Total Assets | 2.26B | 2.41B | 2.53B | 2.51B | 2.78B |
| Cash, Cash Equivalents and Short-Term Investments | 201.54M | 193.88M | 233.23M | 212.01M | 322.00M |
| Total Debt | 368.69M | 355.62M | 438.39M | 347.52M | 390.03M |
| Total Liabilities | 843.82M | 816.64M | 847.36M | 708.34M | 697.34M |
| Stockholders Equity | 1.41B | 1.60B | 1.69B | 1.81B | 2.08B |
Cash Flow | |||||
| Free Cash Flow | 216.93M | 94.96M | 30.78M | 211.27M | 138.21M |
| Operating Cash Flow | 217.11M | 94.96M | 32.24M | 211.27M | 138.97M |
| Investing Cash Flow | -14.78M | 39.51M | -28.74M | -8.02M | -3.85M |
| Financing Cash Flow | -194.70M | -144.33M | -9.21M | -300.79M | -169.61M |
Metrovacesa SA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | €8.20B | 9.40 | 9.95% | 1.62% | 13.21% | 20.37% | |
67 Neutral | €1.59B | 27.85 | 3.89% | 19.20% | 57.91% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | €872.62M | 15.25 | 6.49% | 9.86% | -24.85% | -59.67% | |
61 Neutral | €1.52B | 10.85 | 11.99% | 11.12% | 165.35% | 80.40% | |
54 Neutral | €254.14M | 30.59 | 2.82% | ― | 127.69% | ― |
* Real Estate Sector Average
ES:MVC
Metrovacesa SA
10.52
1.82
20.96%
ES:HOME
Neinor Homes
15.40
-0.41
-2.58%
ES:MRL
MERLIN Properties SOCIMI SA
13.26
1.07
8.77%
ES:ARM
Arima Real Estate SOCIMI SA
10.40
0.46
4.58%
ES:AEDAS
AEDAS Homes SA
21.20
0.15
0.71%
ES:YEPSA
Emperador Properties SOCIMI SA
10.40
4.18
67.26%
Metrovacesa SA Corporate Events
Metrovacesa affirms accuracy of first-half 2026 financial report
Jul 23, 2026
Metrovacesa, S.A. has released its first semi-annual financial report for 2026, covering the period ended 30 June 2026, with the document signed on 21 July 2026. The report includes summarized accounts and an interim management review prepared und...
Metrovacesa sets July date for H1 2026 results and webcast
Jul 9, 2026
Metrovacesa has announced it will publish its results for the first half of 2026 on 22 July, before the Spanish market opens, providing investors with an early look at its mid-year performance. The timing underscores the company’s effort to ...
Metrovacesa Reports Second-Quarter Liquidity Contract Activity
Jul 2, 2026
Metrovacesa has reported the activity of its share liquidity contract for the second quarter of 2026, detailing purchases and sales executed under the framework set by Spanish securities regulations. The company carried out roughly balanced buying...
Metrovacesa partners with Santander funds on Valencia coliving project
Jun 30, 2026
Metrovacesa has entered a co‑investment agreement with a fund managed by Santander Alternative Investment to develop a coliving project in Valencia’s Turianova area. The joint venture will be 10% owned by Metrovacesa, with the remainde...
Metrovacesa Secures €16 Million BBVA Loan for Estepona Project
Jun 18, 2026
Metrovacesa has disclosed a related-party financing agreement with major shareholder Banco Bilbao Vizcaya Argentaria, which holds around 20.85% of its share capital. The deal concerns a developer loan to fund the Adagio real estate project in Este...
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.