HOCHTIEF Aktiengesellschaft

XTRA:HOT Stock Report

Market Cap: €37.6b

HOCHTIEF Future Growth

Future criteria checks 4/6

HOCHTIEF is forecast to grow earnings and revenue by 19.9% and 9.6% per annum respectively. EPS is expected to grow by 17.5% per annum. Return on equity is forecast to be 47.1% in 3 years.

Key information

19.9%

Earnings growth rate

17.46%

EPS growth rate

Construction earnings growth11.3%
Revenue growth rate9.6%
Future return on equity47.08%
Analyst coverage

Good

Last updated02 Jul 2026

Recent future growth updates

Analysis Article • May 15

€414 - That's What Analysts Think HOCHTIEF Aktiengesellschaft (ETR:HOT) Is Worth After These Results

Last week, you might have seen that HOCHTIEF Aktiengesellschaft ( ETR:HOT ) released its first-quarter result to the...

Recent updates

Narrative Update • Jul 01

HOT: Index Promotion And Upgrades Will Likely Leave Shares Overstretched

Analysts have raised their fair value estimate for HOCHTIEF from about €167.50 to €259.00, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E, as reflected in recent upgrades such as Kepler Cheuvreux turning more positive on the stock. What's in the News for HOCHTIEF HOCHTIEF Aktiengesellschaft has been added to the Germany DAX Index (Performance), according to a key index constituent update.
Narrative Update • Jun 17

HOT: Dividend Visibility And Upgraded Outlook Will Shape Future Share Returns

Analysts have raised their price target for HOCHTIEF to about €464 from roughly €441, citing updated fair value estimates and a more favorable stance reflected in recent upgrades. What’s in the News for HOCHTIEF No recent company specific news items for HOCHTIEF were provided in the available sources.
Narrative Update • Jun 03

HOT: Dividend Visibility And Data Center Demand Will Shape Future Share Returns

Analysts have raised their price target on HOCHTIEF from about €367.77 to about €441.27, citing refreshed views in recent research that reflect a more positive stance on the stock. What's in the News HOCHTIEF Aktiengesellschaft announced an annual dividend of €6.60 per share.
Analysis Article • May 15

€414 - That's What Analysts Think HOCHTIEF Aktiengesellschaft (ETR:HOT) Is Worth After These Results

Last week, you might have seen that HOCHTIEF Aktiengesellschaft ( ETR:HOT ) released its first-quarter result to the...
Narrative Update • Apr 25

HOT: Data Center Capex Tailwind Will Eventually Strain Future Share Returns

Analysts have raised their price target on HOCHTIEF to €371 from €163, citing continued strength in hyperscaler capital spending and the group's role via Turner in the U.S. as a key contractor in data center construction, while also noting that the recent share price move already reflects much of this optimism. Analyst Commentary Recent Street research highlights a sharp reset in expectations around HOCHTIEF, with the new €371 price target framing both the upside linked to data center exposure and the risks tied to how much optimism is already in the share price.
Narrative Update • Apr 07

HOT: Data Center Capex Tailwind Will Eventually Constrain Future Share Returns

Analysts have lifted their price target on HOCHTIEF to €371, with the updated view supported by expectations that the company’s role in data center construction through its U.S. subsidiary Turner positions it to benefit from strong hyperscaler capex. Analyst Commentary Recent research reflects a mixed stance on HOCHTIEF, with a sharply higher price target paired with a Hold rating.
Narrative Update • Mar 23

HOT: Data Center Demand Will Support Future Returns While Limiting Upside Potential

Narrative Update on HOCHTIEF Analysts have lifted their average price target for HOCHTIEF from about €338 to roughly €368, citing stronger expected data center related demand via its U.S. subsidiary and a higher assumed future P/E of around 24x. They are maintaining a more cautious stance following the share price move since June 2024.
Narrative Update • Mar 08

HOT: Data Center Euphoria Will Likely Restrain Future Share Price Returns

Narrative Update Analysts have lifted their price target on HOCHTIEF to about €338 from roughly €320, citing updated assumptions on data center exposure, slightly higher revenue growth and profit margins, and a modestly lower discount rate. They also point to a higher Street target of €371 that reflects the company’s role in U.S. data center construction through Turner.
Narrative Update • Feb 21

HOT: Hyperscaler Data Center Exposure Will Likely Cap Future Share Price Upside

Narrative Update on HOCHTIEF The analyst price target for HOCHTIEF has moved from €295.30 to €320.19. Analysts cite higher expected hyperscaler capex, HOCHTIEF's role in data center construction through Turner, and the share price already trading well above prior expectations as key drivers of their revised view.
Narrative Update • Feb 06

HOT: Lithium Infrastructure Expansion Will Likely Limit Future Share Price Upside

Analysts have nudged their price target for HOCHTIEF slightly higher to €295.30 from about €292.74, reflecting updated assumptions around discount rates, revenue, profit margins and future P/E levels. What's in the News HOCHTIEF has expanded its partnership with Vulcan Energy, a Germany focused lithium and renewable energy business, giving the group an end to end role in developing Vulcan’s lithium production and processing infrastructure (Key Developments).
Analysis Article • Jan 25

HOCHTIEF's (ETR:HOT) Returns On Capital Not Reflecting Well On The Business

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...
Narrative Update • Jan 23

HOT: Lithium Projects And Profit Outlook Will Likely Constrain Future Upside

Analysts have nudged their fair value estimate for HOCHTIEF higher from €285.97 to €292.74, citing updated assumptions around the discount rate, long term revenue growth, profit margins and future P/E expectations. What's in the News HOCHTIEF, through its subsidiary Sedgman, has been appointed Engineering, Procurement and Construction Management contractor for Vulcan Energy's Lionheart Project, covering a €397 million Lithium Extraction Plant and a €337 million Central Lithium Plant (Key Developments).
Narrative Update • Jan 08

HOT: Lithium Expansion And Raised Profit Guidance Will Likely Limit Future Upside

Analysts have nudged their price target on HOCHTIEF slightly higher, with fair value moving from €284.71 to €285.97, supported by small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News HOCHTIEF expanded its partnership with Vulcan Energy, taking an end to end role in developing lithium production and processing infrastructure through its Sedgman and HOCHTIEF Infrastructure units (Key Developments).
Analysis Article • Dec 26

Is Now The Time To Put HOCHTIEF (ETR:HOT) On Your Watchlist?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Narrative Update • Dec 15

HOT: Expanded Lithium Exposure Will Likely Cap Future Share Price Upside

Analysts have raised their price target on HOCHTIEF by approximately €17 to about €285, citing slightly lower perceived risk, stronger expected revenue growth, modestly improved profit margins, and a marginally higher future earnings multiple. What's in the News HOCHTIEF, through its Sedgman unit and HOCHTIEF Infrastructure, has been appointed EPCM contractor for Vulcan Energy’s Lionheart Project, covering both a EUR 397 million Lithium Extraction Plant and a EUR 337 million Central Lithium Plant, reinforcing its role in critical minerals infrastructure (Key Developments) HOCHTIEF has agreed to invest EUR 169 million in Vulcan Energy, including EUR 39 million in the Lionheart Project and up to EUR 130 million via a share subscription, becoming a cornerstone investor in the sustainable lithium and renewable energy business (Key Developments) The company has been named preferred supplier for the Lionheart Project’s civil construction works, strengthening its integrated presence across the energy transition value chain (Key Developments) HOCHTIEF raised its 2025 operational net profit guidance to a range of EUR 750 to 780 million, from a previous range of EUR 680 to 730 million, indicating a targeted 20 to 25 percent year-on-year increase, with the company citing very strong profit momentum at the Turner segment and an expected acceleration in Q4 2025 (Key Developments) Valuation Changes Fair Value Estimate has risen slightly from approximately €267.84 to about €284.71 per share, reflecting a modest uplift in the underlying valuation.
Analysis Article • Dec 03

A Look At The Fair Value Of HOCHTIEF Aktiengesellschaft (ETR:HOT)

Key Insights Using the 2 Stage Free Cash Flow to Equity, HOCHTIEF fair value estimate is €346 HOCHTIEF's €310 share...
Narrative Update • Nov 30

HOT: Higher Projected Profit Margins Will Limit Share Price Upside Ahead

Analysts have raised their price target for HOCHTIEF from €223.46 to €267.84, citing improved revenue growth projections and stronger profit margins as the basis for the upward revision. What's in the News HOCHTIEF has raised its operational net profit guidance for the financial year 2025 to EUR 750 million to EUR 780 million, up from the previous estimate of EUR 680 million to EUR 730 million (Key Developments).
Analysis Article • Nov 18

We Like HOCHTIEF's (ETR:HOT) Earnings For More Than Just Statutory Profit

Following the solid earnings report from HOCHTIEF Aktiengesellschaft ( ETR:HOT ), the market responded by bidding up...
Narrative Update • Nov 16

HOT: Rising Discount Rate Will Limit Upside Despite Stronger Profit Momentum

Analysts have raised their price target for HOCHTIEF from €205.53 to €223.46, citing higher revenue growth forecasts and improved profit margins. What's in the News HOCHTIEF has raised its earnings guidance for 2025, increasing operational net profit expectations to EUR 750 million to 780 million, up from a prior range of EUR 680 million to 730 million (Key Developments).
Analysis Article • Nov 04

Is HOCHTIEF (ETR:HOT) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Narrative Update • Nov 01

HOT: Rising Discount Rate Will Challenge Future Earnings Stability

Narrative Update on HOCHTIEF Analyst Price Target Analysts have maintained their price target for HOCHTIEF at €205.53. This reflects stable expectations, as recent evaluations cite consistent revenue growth and profit margin forecasts.
Analysis Article • Oct 21

HOCHTIEF's (ETR:HOT) Returns On Capital Tell Us There Is Reason To Feel Uneasy

If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...
Narrative Update • Oct 18

Surging Data Center Demand And Acquisition Risks Will Redefine Valuation

Analysts have raised their price target for HOCHTIEF from €195.53 to €205.53. They cited improved revenue growth expectations as the key driver behind this upward revision.
Narrative Update • Oct 04

Surging Data Center Demand And Acquisition Risks Will Redefine Valuation

Analysts have raised their price target for HOCHTIEF from €174.65 to €195.53. This change reflects improvements in forecasted revenue growth and a lower discount rate in their latest outlook.
Analysis Article • Sep 24

At €229, Is It Time To Put HOCHTIEF Aktiengesellschaft (ETR:HOT) On Your Watch List?

HOCHTIEF Aktiengesellschaft ( ETR:HOT ) received a lot of attention from a substantial price increase on the XTRA over...
Analysis Article • Aug 28

HOCHTIEF Aktiengesellschaft (ETR:HOT) Shares Could Be 44% Below Their Intrinsic Value Estimate

Key Insights The projected fair value for HOCHTIEF is €379 based on 2 Stage Free Cash Flow to Equity HOCHTIEF is...
Analysis Article • Aug 15

What HOCHTIEF Aktiengesellschaft's (ETR:HOT) 27% Share Price Gain Is Not Telling You

Despite an already strong run, HOCHTIEF Aktiengesellschaft ( ETR:HOT ) shares have been powering on, with a gain of 27...
Analysis Article • Aug 08

Is Now The Time To Put HOCHTIEF (ETR:HOT) On Your Watchlist?

XTRA:HOT 1 Year Share Price vs Fair Value Explore HOCHTIEF's Fair Values from the Community and select yours The...
Analysis Article • Jul 21

Is HOCHTIEF (ETR:HOT) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
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New Narrative • Nov 25

Turner's Decisive Moves In Advanced Tech And Energy Promise Revenue Growth

Strategic expansion in tech, energy, and infrastructure projects promises significant revenue growth and aligns with global sustainability trends.

Earnings and Revenue Growth Forecasts

XTRA:HOT - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202852,7341,5301,7272,6136
12/31/202748,4981,2991,6442,1878
12/31/202643,2901,0421,4732,1997
3/31/202638,7138051,8912,326N/A
12/31/202538,2369021,6132,038N/A
9/30/202537,8348521,5192,068N/A
6/30/202537,0198201,4491,976N/A
3/31/202535,4619511,5022,036N/A
12/31/202433,3017761,6562,129N/A
9/30/202430,9717211,4551,791N/A
6/30/202429,3926971,4431,686N/A
3/31/202428,3245281,3421,536N/A
12/31/202327,7565231,1241,335N/A
9/30/202327,4585079341,171N/A
6/30/202327,291503746981N/A
3/31/202327,075503443663N/A
12/31/202226,2194828631,051N/A
9/30/202224,913273381520N/A
6/30/202223,052258398501N/A
3/31/202221,777232370450N/A
12/31/202121,378212308387N/A
9/30/202120,635365253423N/A
6/30/202121,277387524767N/A
3/31/202121,733366190504N/A
12/31/202022,954395310707N/A
9/30/202025,008715234710N/A
6/30/202025,78977093594N/A
3/31/202026,275834361899N/A
12/31/201925,852847N/A1,117N/A
9/30/201925,232595N/A1,384N/A
6/30/201924,689592N/A1,591N/A
3/31/201924,349573N/A1,527N/A
12/31/201823,882543N/A1,572N/A
9/30/201823,499522N/A1,568N/A
6/30/201822,816461N/A1,499N/A
3/31/201822,748430N/A1,505N/A
12/31/201722,631421N/A1,372N/A
9/30/201722,045400N/A1,249N/A
6/30/201721,560369N/A1,461N/A
3/31/201720,643345N/A1,280N/A
12/31/201619,908320N/A1,173N/A
9/30/201619,443281N/A1,088N/A
6/30/201619,678241N/A974N/A
3/31/201620,452220N/A1,256N/A
12/31/201521,097208N/A1,135N/A
9/30/201522,200-168N/A1,119N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HOT's forecast earnings growth (19.9% per year) is above the savings rate (1.9%).

Earnings vs Market: HOT's earnings (19.9% per year) are forecast to grow faster than the German market (17.1% per year).

High Growth Earnings: HOT's earnings are forecast to grow, but not significantly.

Revenue vs Market: HOT's revenue (9.6% per year) is forecast to grow faster than the German market (6.7% per year).

High Growth Revenue: HOT's revenue (9.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HOT's Return on Equity is forecast to be very high in 3 years time (47.1%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 03:57
End of Day Share Price 2026/07/03 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

HOCHTIEF Aktiengesellschaft is covered by 22 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christian WeizBaader Helvea Equity Research
Patrick AppenzellerBaader Helvea Equity Research
José ArroyasBanco Santander