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Ferrovial

WBAG:FER
Snowflake Description

Reasonable growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FER
WBAG
€15B
Market Cap
  1. Home
  2. AT
  3. Capital Goods
Company description

Ferrovial, S.A. operates as an infrastructure operator and municipal services company worldwide. The last earnings update was 49 days ago. More info.


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FER Share Price and Events
7 Day Returns
2.3%
WBAG:FER
1.5%
Europe Construction
3.4%
AT Market
1 Year Returns
19.3%
WBAG:FER
-2.3%
Europe Construction
-2%
AT Market
FER Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ferrovial (FER) 2.3% 0.5% 8.4% 19.3% - -
Europe Construction 1.5% 1.6% 13.3% -2.3% 12% 11%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • FER outperformed the Construction industry which returned -2.3% over the past year.
  • FER outperformed the Market in Austria which returned -2% over the past year.
Price Volatility
FER
Industry
5yr Volatility vs Market

Value

 Is Ferrovial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ferrovial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ferrovial.

WBAG:FER Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.2%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:FER
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 8.2%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 25%) (54.14%))
1.305
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.305 * 8.18%)
11.19%

Discounted Cash Flow Calculation for WBAG:FER using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ferrovial is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:FER DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.19%)
2019 484.67 Analyst x3 435.91
2020 713.60 Analyst x8 577.24
2021 827.67 Analyst x3 602.15
2022 860.00 Analyst x1 562.73
2023 884.40 Est @ 2.84% 520.47
2024 903.31 Est @ 2.14% 478.12
2025 918.22 Est @ 1.65% 437.12
2026 930.23 Est @ 1.31% 398.28
2027 940.17 Est @ 1.07% 362.04
2028 948.65 Est @ 0.9% 328.55
Present value of next 10 years cash flows €4,702.61
WBAG:FER DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €948.65 × (1 + 0.51%) ÷ (11.19% – 0.51%)
€8,931.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €8,931.13 ÷ (1 + 11.19%)10
€3,093.19
WBAG:FER Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €4,702.61 + €3,093.19
€7,795.81
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €7,795.81 / 731.04
€10.66
WBAG:FER Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:FER represents 1.00048x of BME:FER
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00048x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 10.66 x 1.00048
€10.67
Value per share (EUR) From above. €10.67
Current discount Discount to share price of €21.00
= -1 x (€21.00 - €10.67) / €10.67
-96.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ferrovial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ferrovial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ferrovial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:FER PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.55
BME:FER Share Price ** BME (2019-04-18) in EUR €20.99
Europe Construction Industry PE Ratio Median Figure of 93 Publicly-Listed Construction Companies 10.91x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ferrovial.

WBAG:FER PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:FER Share Price ÷ EPS (both in EUR)

= 20.99 ÷ 0.55

38.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ferrovial is overvalued based on earnings compared to the Europe Construction industry average.
  • Ferrovial is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does Ferrovial's expected growth come at a high price?
Raw Data
WBAG:FER PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 38.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
9.9%per year
Europe Construction Industry PEG Ratio Median Figure of 45 Publicly-Listed Construction Companies 1.22x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:FER PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 38.03x ÷ 9.9%

3.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ferrovial is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ferrovial's assets?
Raw Data
WBAG:FER PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €6.20
BME:FER Share Price * BME (2019-04-18) in EUR €20.99
Europe Construction Industry PB Ratio Median Figure of 130 Publicly-Listed Construction Companies 1.2x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:FER PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:FER Share Price ÷ Book Value per Share (both in EUR)

= 20.99 ÷ 6.20

3.39x

* Primary Listing of Ferrovial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ferrovial is overvalued based on assets compared to the Europe Construction industry average.
X
Value checks
We assess Ferrovial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check)
  5. Ferrovial has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ferrovial expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ferrovial expected to grow at an attractive rate?
  • Ferrovial's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Ferrovial's earnings growth is expected to exceed the Austria market average.
  • Ferrovial's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:FER Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:FER Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 9.9%
WBAG:FER Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 21.6%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:FER Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:FER Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 13,738 1,474 604 2
2021-12-31 13,115 1,356 547 5
2020-12-31 12,972 1,264 509 10
2019-12-31 12,903 1,092 455 3
WBAG:FER Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 5,736 323 403
2018-09-30 12,128 126
2018-06-30 12,084 1,119 142
2018-03-31 12,027 221
2017-12-31 5,152 1,280 371
2017-09-30 12,255 484
2017-06-30 12,120 1,235 427
2017-03-31 11,560 291
2016-12-31 10,758 1,172 376
2016-09-30 10,166 516
2016-06-30 9,662 941 642
2016-03-31 9,637 759

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ferrovial's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • Ferrovial's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:FER Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Ferrovial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:FER Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.73 0.74 0.71 2.00
2020-12-31 0.70 0.82 0.62 10.00
2019-12-31 0.62 0.65 0.59 3.00
WBAG:FER Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.55
2018-09-30 0.17
2018-06-30 0.20
2018-03-31 0.30
2017-12-31 0.51
2017-09-30 0.66
2017-06-30 0.58
2017-03-31 0.40
2016-12-31 0.51
2016-09-30 0.71
2016-06-30 0.89
2016-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Ferrovial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ferrovial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ferrovial has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ferrovial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ferrovial's growth in the last year to its industry (Construction).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ferrovial's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Ferrovial's 1-year earnings growth exceeds its 5-year average (8.6% vs -18.1%)
  • Ferrovial's earnings growth has not exceeded the Europe Construction industry average in the past year (8.6% vs 15.5%).
Earnings and Revenue History
Ferrovial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ferrovial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:FER Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5,736.00 403.00 1,243.00
2018-09-30 12,128.00 126.00 5,170.00
2018-06-30 12,084.00 142.00 5,102.00
2018-03-31 12,027.00 221.00 5,170.00
2017-12-31 5,152.00 371.00 1,184.00
2017-09-30 12,255.00 484.00 4,231.00
2017-06-30 12,120.00 427.00 5,033.00
2017-03-31 11,560.00 291.00 4,231.00
2016-12-31 10,758.00 376.00 4,231.00
2016-09-30 10,166.00 516.00 2,805.00
2016-06-30 9,662.00 642.00 2,971.00
2016-03-31 9,637.00 759.00 2,805.00
2015-12-31 9,701.00 720.00 2,805.00
2015-09-30 9,546.00 615.00 2,575.00
2015-06-30 9,378.00 501.00 2,692.00
2015-03-31 9,005.00 455.00 2,575.00
2014-12-31 8,802.00 402.00 2,575.00
2014-09-30 8,765.00 512.00 2,351.00
2014-06-30 8,594.00 608.00 2,489.00
2014-03-31 8,480.00 720.00 2,351.00
2013-12-31 8,166.00 727.00 2,351.00
2013-09-30 7,867.00 701.00 2,102.00
2013-06-30 7,706.00 722.00 2,175.00
2013-03-31 7,552.80 756.40 2,102.00
2012-12-31 7,630.00 692.00 2,102.00
2012-09-30 7,582.50 393.10 2,018.00
2012-06-30 7,562.00 238.00 2,085.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ferrovial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ferrovial used its assets less efficiently than the Europe Construction industry average last year based on Return on Assets.
  • Ferrovial's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ferrovial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ferrovial has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ferrovial's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ferrovial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ferrovial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ferrovial's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ferrovial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ferrovial Company Filings, last reported 3 months ago.

WBAG:FER Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,363.00 8,307.00 3,996.00
2018-09-30 6,128.00 9,280.00 4,633.00
2018-06-30 6,004.00 8,815.00 4,336.00
2018-03-31 5,942.00 8,210.00 3,925.00
2017-12-31 6,234.00 8,506.00 4,542.00
2017-09-30 5,893.00 8,573.00 3,556.00
2017-06-30 6,032.00 8,580.00 3,720.00
2017-03-31 6,295.00 9,166.00 4,058.00
2016-12-31 6,314.00 8,330.00 3,516.00
2016-09-30 6,176.00 9,677.00 3,437.00
2016-06-30 6,484.00 8,895.00 2,773.00
2016-03-31 6,723.00 8,586.00 3,465.00
2015-12-31 6,541.00 8,234.00 3,243.00
2015-09-30 6,294.00 10,153.00 3,253.00
2015-06-30 6,476.00 9,996.00 3,446.00
2015-03-31 6,293.00 10,413.00 3,548.00
2014-12-31 6,021.00 10,225.00 3,380.00
2014-09-30 6,228.00 9,896.00 3,414.00
2014-06-30 5,940.00 9,075.00 3,100.00
2014-03-31 5,998.00 9,191.00 3,037.00
2013-12-31 6,074.00 8,945.00 3,029.00
2013-09-30 6,092.00 8,815.00 2,385.00
2013-06-30 5,932.00 8,638.00 1,997.00
2013-03-31 5,752.00 8,531.00 2,588.00
2012-12-31 5,781.00 8,389.00 2,942.00
2012-09-30 6,458.50 8,219.90 2,430.90
2012-06-30 6,386.00 8,107.00 2,373.00
  • Ferrovial's level of debt (154.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (147.3% vs 154.9% today).
  • Debt is not well covered by operating cash flow (3.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Ferrovial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ferrovial has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Ferrovial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.42%
Current annual income from Ferrovial dividends. Estimated to be 3.65% next year.
If you bought €2,000 of Ferrovial shares you are expected to receive €68 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ferrovial's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • Ferrovial's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:FER Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 71 Stocks 3.6%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:FER Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.86 1.00
2022-12-31 0.83 1.00
2021-12-31 0.79 8.00
2020-12-31 0.77 18.00
2019-12-31 0.74 14.00
WBAG:FER Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-10-30 0.718 3.752
2018-02-28 0.718 4.049
2017-03-03 0.723 3.852
2017-02-27 0.723 4.062
2016-02-25 0.709 3.976
2015-04-30 0.685 3.312
2015-02-24 0.685 3.479
2014-02-26 0.691 4.332
2013-07-15 1.250 9.154
2013-02-19 1.250 10.026
2011-10-27 0.500 5.276
2011-02-23 0.420 4.854
2010-07-29 0.240 3.162
2010-01-15 0.400 6.180
2009-04-20 2.000 34.420

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Ferrovial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Ferrovial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ferrovial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ferrovial has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ferrovial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Íñigo Amusco
COMPENSATION €3,599,000
AGE 55
TENURE AS CEO 9.5 years
CEO Bio

Mr. Íñigo Meirás Amusco has been the Chief Executive Officer of Ferrovial, S.A. since October 2009. Mr. Meirás Amusco serves as the Chairman and Managing Director of Finecofer, S.L. He served as the Chief Executive Officer of Cintra Concesiones de Infraestructuras de Transportes SA since October 2009 and also served as its General Manager of Services. He served as the Chief Executive Officer of Ferrovial Aeropuertos S.A since May 2007. He served as a Managing Director of Ferrovial, S.A. He served as the General Manager of Services of Ferrovial, S.A. until 2006. He served as the Chief Executive Officer of Ferrovial Airports. He served as a General Manager of Services at Ferrovial-Agromán, S.A. He joined Ferrovial in 1992. He served as a General Manager of Autopista del Sol and Manager of Toll Roads at Cintra until November 2000. He serves as the Chairman of Ferrovial Aeropuertos, S.A.; Cintra Infraestructuras, S.A.; Ferrovial Fisa, S.L. and Ferrovial Servicios, S.A. Mr. Meirás Amusco served as a Deputy Chairman of Heathrow Airport Holdings Ltd. (formerly BAA Limited/LHR Airports Limited ). He served as a Non-Executive Deputy Chairman of BAA Airports Limited. He has been an Executive Director at Ferrovial, S.A. since October 20, 2009. He serves as a Non-Executive Director of BAA Limited. He serves as a Director of Ferrovial Agroman, S.A. and Ferrovial Qatar LLC. He served as an Executive Director of Cintra Concesiones de Infraestructuras de Transportes SA. He served as a Director of BAA Airports Limited from May 2007 to October 26, 20121. Mr. Meirás Amusco studied Degree in Law and an MBA from Instituto de Empresa.

CEO Compensation
  • Íñigo's compensation has been consistent with company performance over the past year.
  • Insufficient data for Íñigo to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Ferrovial management team in years:

9.5
Average Tenure
55.5
Average Age
  • The average tenure for the Ferrovial management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rafael del Pino y Calvo-Sotelo

TITLE
Chairman of the Board
COMPENSATION
€4M
AGE
60

Íñigo Amusco

TITLE
CEO & Executive Director
COMPENSATION
€4M
AGE
55
TENURE
9.5 yrs

Ernesto Mozo

TITLE
Chief Financial Officer
AGE
54
TENURE
9.5 yrs

Federico Flórez

TITLE
Chief Information & Innovation Officer
AGE
58
TENURE
11 yrs

Ricardo Jiménez

TITLE
Head of Investor Relations

Santiago Ortiz Vaamonde

TITLE
General Counsel & Secretary
AGE
56
TENURE
10.3 yrs

María Dionis

TITLE
Chief Human Resources Officer
TENURE
3.8 yrs

María Pulido

TITLE
Director of Corporate Strategy

Alejandro de la Joya Ruiz de Velasco

TITLE
Chief Executive Officer of Cintra
AGE
51
TENURE
11.1 yrs

Jorge Gil

TITLE
Chief Executive Officer of Ferrovial Aeropuertos
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Ferrovial board of directors in years:

10.9
Average Tenure
62
Average Age
  • The average tenure for the Ferrovial board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Íñigo Amusco

TITLE
CEO & Executive Director
COMPENSATION
€4M
AGE
55
TENURE
9.5 yrs

Joaquín García

TITLE
Second Vice Chairman of the Board
COMPENSATION
€150K
AGE
63
TENURE
17.3 yrs

Rafael del Pino y Calvo-Sotelo

TITLE
Chairman of the Board
COMPENSATION
€4M
AGE
60
TENURE
19.3 yrs

Santiago Bergareche Busquet

TITLE
First Vice Chairman of the Board
COMPENSATION
€183K
AGE
72
TENURE
20.3 yrs

Santiago Fernández Valbuena

TITLE
Independent Director
COMPENSATION
€163K
AGE
60
TENURE
10.9 yrs

José Fernando Mans

TITLE
Independent Director
COMPENSATION
€157K
AGE
70
TENURE
9.3 yrs

Óscar Martín

TITLE
Lead Director
COMPENSATION
€143K
AGE
69

María del Pino Calvo-Sotelo

TITLE
External Proprietary Director
COMPENSATION
€138K
AGE
61
TENURE
12.6 yrs

Joaquín Del Pino Calvo-Sotelo

TITLE
External Proprietary Director
COMPENSATION
€131K
AGE
57
TENURE
3.5 yrs

Philip Bowman

TITLE
Independent Director
COMPENSATION
€138K
AGE
65
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Ferrovial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ferrovial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Ferrovial, S.A. operates as an infrastructure operator and municipal services company worldwide. The company engages in the operation and maintenance of public and private infrastructures for transport, environment, industry, natural resources (oil, gas, and mining), and utilities (water and electricity); and provision of facility management services. It also engages in the promotion, investment, and operation of toll roads and other infrastructures. In addition, the company designs and constructs infrastructures in the areas of civil engineering work, building, and industrial construction. Its construction activities also cover tunnels, roads, and railways, as well as the repair and maintenance roads; industrial, residential, and non-residential buildings; and dams, gas and oil pipelines, water treatment plants, canals, docks and port infrastructures, and hydroelectric plants. Further, the company engages in the investment and operation of airports. Ferrovial, S.A. was founded in 1952 and is based in Madrid, Spain.

Details
Name: Ferrovial, S.A.
FER
Exchange: WBAG
Founded: 1952
€15,344,617,107
731,044,169
Website: http://www.ferrovial.com
Address: Ferrovial, S.A.
calle Príncipe de Vergara 135,
Madrid,
Madrid, 28002,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME FER Ordinary Shares Bolsas y Mercados Espanoles ES EUR 27. Oct 2004
OTCPK FRRV.F Ordinary Shares Pink Sheets LLC US USD 27. Oct 2004
DB UFG Ordinary Shares Deutsche Boerse AG DE EUR 27. Oct 2004
LSE 0P2N Ordinary Shares London Stock Exchange GB EUR 27. Oct 2004
WBAG FER Ordinary Shares Wiener Boerse AG AT EUR 27. Oct 2004
BMV FER N Ordinary Shares Bolsa Mexicana de Valores MX MXN 27. Oct 2004
BATS-CHIXE FERE Ordinary Shares BATS 'Chi-X Europe' GB EUR 27. Oct 2004
OTCPK FRRV.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
92,113
Ferrovial employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:35
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.