Solid Earnings May Not Tell The Whole Story For Compañía Española de Viviendas en Alquiler (BME:CEV)
Apr 02
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Spanish (IBEX) Real Estate Industry Analysis
UpdatedApr 02, 2026
DataAggregated Company Financials
Companies32
- 7D1.2%
- 3M6.9%
- 1Y7.8%
- YTD6.6%
The Real Estate industry is up 1.2% in the last week, with Metrovacesa up 5.5%. This takes the industry's 12 month performance to a gain of 7.8%. Looking forward, earnings are expected to remain mostly flat in the next few years.
Industry Valuation and Performance
Has the Spanish Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 03 Apr 2026 | €5.7b | €2.6b | €400.3m | 11.8x | 14.2x | 2.2x |
| Sun, 01 Mar 2026 | €6.2b | €2.4b | €304.4m | 21.4x | 20.4x | 2.6x |
| Tue, 27 Jan 2026 | €5.6b | €2.3b | €243.9m | 16.1x | 22.9x | 2.5x |
| Thu, 25 Dec 2025 | €5.5b | €2.3b | €244.1m | 15.9x | 22.4x | 2.4x |
| Sat, 22 Nov 2025 | €5.6b | €2.2b | €240.0m | 16x | 23.4x | 2.5x |
| Mon, 20 Oct 2025 | €5.2b | €2.2b | €248.7m | 10.9x | 20.8x | 2.4x |
| Wed, 17 Sep 2025 | €5.4b | €2.2b | €248.7m | 15x | 21.7x | 2.5x |
| Fri, 15 Aug 2025 | €5.4b | €2.2b | €250.5m | 16.3x | 21.4x | 2.5x |
| Sun, 13 Jul 2025 | €5.9b | €2.5b | €207.3m | 16.8x | 28.6x | 2.4x |
| Tue, 10 Jun 2025 | €6.2b | €2.5b | €207.5m | 20.7x | 29.7x | 2.5x |
| Thu, 08 May 2025 | €6.8b | €2.6b | €185.8m | 20.8x | 36.8x | 2.7x |
| Sat, 05 Apr 2025 | €6.3b | €2.6b | €326.7m | 19.9x | 19.2x | 2.4x |
| Mon, 03 Mar 2025 | €6.5b | €2.5b | €294.6m | 22x | 22x | 2.5x |
| Wed, 29 Jan 2025 | €6.3b | €2.6b | €297.3m | 22.7x | 21.1x | 2.4x |
| Fri, 27 Dec 2024 | €6.3b | €2.6b | €301.6m | 22.2x | 21.1x | 2.5x |
| Sun, 24 Nov 2024 | €6.3b | €2.6b | €297.0m | 21.4x | 21.1x | 2.4x |
| Tue, 22 Oct 2024 | €6.2b | €2.5b | €274.1m | 22x | 22.6x | 2.5x |
| Thu, 19 Sep 2024 | €6.1b | €2.5b | €285.7m | 21x | 21.2x | 2.4x |
| Sat, 17 Aug 2024 | €6.2b | €2.5b | €279.4m | 21.3x | 22.2x | 2.4x |
| Mon, 15 Jul 2024 | €5.9b | €2.5b | €221.4m | 20.5x | 26.8x | 2.4x |
| Wed, 12 Jun 2024 | €5.8b | €2.5b | €144.7m | 29.4x | 39.9x | 2.3x |
| Fri, 10 May 2024 | €5.9b | €2.3b | €139.5m | 31.7x | 42.4x | 2.5x |
| Sun, 07 Apr 2024 | €5.7b | €2.3b | €109.8m | 31.1x | 52.2x | 2.4x |
| Tue, 05 Mar 2024 | €5.7b | €2.4b | €95.0m | 31.1x | 60x | 2.4x |
| Thu, 01 Feb 2024 | €6.3b | €2.2b | €16.7m | 31.1x | 378.9x | 2.9x |
| Sat, 30 Dec 2023 | €6.3b | €2.2b | €16.4m | 31.1x | 384x | 2.9x |
| Mon, 27 Nov 2023 | €6.4b | €2.2b | €14.7m | 31.1x | 432x | 2.9x |
| Wed, 25 Oct 2023 | €6.1b | €2.1b | €15.1m | 25.1x | 407.3x | 2.9x |
| Fri, 22 Sep 2023 | €6.2b | €2.1b | €26.4m | 23.9x | 234.6x | 2.9x |
| Sun, 20 Aug 2023 | €6.1b | €2.2b | €56.4m | 22.8x | 108x | 2.8x |
| Tue, 18 Jul 2023 | €6.3b | €2.2b | €139.3m | 13.5x | 45.5x | 2.9x |
| Thu, 15 Jun 2023 | €6.3b | €2.2b | €246.6m | 13.3x | 25.5x | 2.9x |
| Sat, 13 May 2023 | €6.2b | €2.1b | €291.1m | 11.8x | 21.2x | 2.9x |
| Mon, 10 Apr 2023 | €6.2b | €2.1b | €291.7m | 12x | 21.1x | 2.9x |
Price to Earnings Ratio
21.1x
Current Industry PE
- Investors are pessimistic on the Spanish Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 14.2x which is lower than its 3-year average PE of 88.8x.
- The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 7.8% 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 Real Estate industry?
| ES Market | 2.41% | |
| Real Estate | 2.32% | |
| Real Estate | 1.17% | |
| Real Estate Development | 3.07% | |
| Real Estate Services | 0% | 0 |
| Real Estate Operating Companies | -0.61% | |
| Diversified Real Estate | -0.99% | |
Industry PE
- Investors are most optimistic about the Real Estate Operating Companies industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings decline of 8.9%, which is lower than the prior year's growth of 25.4% per year.
- Investors are most pessimistic about the Diversified Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.8x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 0.5% over the next 5 years.
- In contrast, the Real Estate Operating Companies industry is expected to see its earnings decline by 8.9% 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 | |
|---|---|---|---|---|---|
| MVC Metrovacesa | €11.70 | 6.4% +€106.1m | 21.9% | PE31.2x | |
| RLIA Realia Business | €1.03 | 1.5% +€22.6m | 9.5% | PE12x | |
| AEDAS Aedas Homes | €23.35 | 0.4% +€4.3m | -9.8% | PE7x | |
| REN Renta Corporación Real Estate | €0.91 | 7.9% +€2.2m | 23.8% | PE11.7x |