Narrative Update • Aug 20
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Spanish (IBEX) Industrials Sector Analysis
UpdatedAug 30, 2026
DataAggregated Company Financials
Companies28
- 7D-2.3%
- 3M-4.7%
- 1Y17.3%
- YTD6.5%
Over the last 7 days, the Industrials industry has dropped 2.3%, driven by Ferrovial declining 5.7%. In contrast, Construcciones y Auxiliar de Ferrocarriles has gained 6.7%. Over the past 12 months, the industry was up 17%. As for the next few years, earnings are expected to grow by 12% per annum.
Sector Valuation and Performance
Has the Spanish Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 30 Aug 2026 | €134.9b | €124.9b | €5.3b | 16.4x | 25.5x | 1.1x |
| Tue, 28 Jul 2026 | €140.1b | €121.6b | €5.4b | 17.2x | 26.1x | 1.2x |
| Thu, 25 Jun 2026 | €150.8b | €121.5b | €5.3b | 18.6x | 28.4x | 1.2x |
| Sat, 23 May 2026 | €140.3b | €121.4b | €5.3b | 16.2x | 26.6x | 1.2x |
| Mon, 20 Apr 2026 | €145.4b | €119.7b | €5.1b | 17.8x | 28.3x | 1.2x |
| Wed, 18 Mar 2026 | €135.1b | €119.2b | €5.2b | 15.3x | 26.1x | 1.1x |
| Fri, 13 Feb 2026 | €140.1b | €117.5b | €7.2b | 15.4x | 19.5x | 1.2x |
| Sun, 11 Jan 2026 | €129.8b | €117.4b | €7.2b | 14.4x | 18x | 1.1x |
| Tue, 09 Dec 2025 | €124.9b | €117.4b | €7.2b | 13.1x | 17.4x | 1.1x |
| Thu, 06 Nov 2025 | €121.1b | €115.5b | €7.1b | 14.9x | 17x | 1x |
| Sat, 04 Oct 2025 | €115.1b | €115.5b | €7.0b | 15.5x | 16.4x | 1x |
| Mon, 01 Sep 2025 | €113.1b | €115.6b | €7.1b | 17.4x | 15.9x | 1x |
| Wed, 30 Jul 2025 | €110.3b | €112.6b | €7.0b | 16.7x | 15.7x | 1x |
| Fri, 27 Jun 2025 | €105.9b | €112.2b | €7.0b | 17.1x | 15.2x | 0.9x |
| Sun, 25 May 2025 | €109.9b | €112.2b | €7.0b | 18.1x | 15.8x | 1x |
| Tue, 22 Apr 2025 | €97.4b | €108.5b | €6.9b | 15.9x | 14.1x | 0.9x |
| Thu, 20 Mar 2025 | €100.1b | €108.7b | €7.2b | 13.9x | 13.8x | 0.9x |
| Sat, 15 Feb 2025 | €100.6b | €104.8b | €4.7b | 15.5x | 21.5x | 1x |
| Mon, 13 Jan 2025 | €93.0b | €104.7b | €4.7b | 13.3x | 19.9x | 0.9x |
| Wed, 11 Dec 2024 | €94.0b | €105.1b | €4.7b | 13.8x | 20.2x | 0.9x |
| Fri, 08 Nov 2024 | €92.9b | €105.2b | €4.7b | 13.7x | 19.8x | 0.9x |
| Sun, 06 Oct 2024 | €92.1b | €104.9b | €4.6b | 14.8x | 20.2x | 0.9x |
| Tue, 03 Sep 2024 | €90.3b | €104.9b | €4.6b | 14x | 19.8x | 0.9x |
| Thu, 01 Aug 2024 | €89.0b | €102.9b | €4.2b | 13.6x | 21.4x | 0.9x |
| Sat, 29 Jun 2024 | €90.4b | €102.3b | €4.2b | 14x | 21.4x | 0.9x |
| Mon, 27 May 2024 | €89.8b | €102.2b | €4.2b | 14.6x | 21.3x | 0.9x |
| Wed, 24 Apr 2024 | €85.7b | €101.2b | €4.1b | 13.6x | 21.2x | 0.8x |
| Fri, 22 Mar 2024 | €88.9b | €101.4b | €4.1b | 15x | 21.8x | 0.9x |
| Sun, 18 Feb 2024 | €83.8b | €101.0b | €3.6b | 16.1x | 23.2x | 0.8x |
| Tue, 16 Jan 2024 | €97.8b | €110.8b | €2.2b | 16.2x | 44.9x | 0.9x |
| Thu, 14 Dec 2023 | €94.2b | €110.8b | €2.2b | 16.1x | 43.3x | 0.9x |
| Sat, 11 Nov 2023 | €85.3b | €110.0b | €2.1b | 13.6x | 41.5x | 0.8x |
| Mon, 09 Oct 2023 | €83.8b | €110.2b | €1.9b | 13.4x | 43x | 0.8x |
| Wed, 06 Sep 2023 | €86.2b | €110.2b | €2.0b | 14.4x | 44.1x | 0.8x |
Price to Earnings Ratio
44.1x
Current Industry PE
- Investors are relatively neutral on the Spanish Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 23.6x.
- The 3-year average PS ratio of 0.96x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have grown 39% per year over the last three years.
- Revenues for these companies have grown 4.3% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Spanish Industrials sector?
| ES Market | 0.38% | |
| Industrials | -2.31% | |
| Commercial Services | 1.94% | |
| Machinery | 1.92% | |
| Building | 0% | 0 |
| Professional Services | 0% | 0 |
| Electrical | -0.34% | |
| Logistics | -1.21% | |
| Infrastructure | -1.86% | |
| Trade Distributors | -3.45% | |
| Construction | -3.47% | |
| Transportation | -12.27% | |
Industry PE
- Investors are most optimistic about the Construction industry which is trading above its 3-year average PE ratio of 25.3x.
- Analysts are expecting annual earnings growth of 15.4%, which is lower than the prior year's growth of 45.0% per year.
- Investors are most pessimistic about the Transportation industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.4x.
Forecasted Growth
- Analysts are most optimistic on the Trade Distributors industry, expecting annual earnings growth of 26% over the next 5 years.
- However this is lower than its past earnings growth rate of 99% per year.
- In contrast, the Infrastructure industry is expected to see its earnings grow by 3.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CAF Construcciones y Auxiliar de Ferrocarriles | €71.90 | 6.7% +€154.1m | 39.1% | PE14.3x | |
| FCC Fomento de Construcciones y Contratas | €11.30 | 1.4% +€75.7m | 4.1% | PE25.2x | |
| PSG Prosegur Compañía de Seguridad | €2.92 | 3.5% +€53.4m | 10.2% | PE12.7x | |
| CASH Prosegur Cash | €0.67 | 2.3% +€21.9m | -6.3% | PE10.7x | |
| SCYR Sacyr | €4.30 | 0.2% +€6.4m | 19.2% | PE25.6x |
