BME:ABG.P

Stock Analysis Report

Executive Summary

Abengoa, S.A., together with its subsidiaries, provides technology solutions for the energy and water sectors in Spain and rest of Europe, North America, Brazil and rest of South America, Europe, Africa, and the Middle East.


Snowflake Analysis

Slightly overvalued with questionable track record.


Similar Companies

Share Price & News

How has Abengoa's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ABG.P's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.4%

ABG.P

14.6%

ES Construction

4.6%

ES Market


1 Year Return

-40.5%

ABG.P

-25.7%

ES Construction

-24.5%

ES Market

Return vs Industry: ABG.P underperformed the Spanish Construction industry which returned -25.7% over the past year.

Return vs Market: ABG.P underperformed the Spanish Market which returned -24.5% over the past year.


Shareholder returns

ABG.PIndustryMarket
7 Day-7.4%14.6%4.6%
30 Day-43.2%-25.8%-22.5%
90 Day-47.9%-31.8%-28.0%
1 Year-40.5%-40.5%-23.3%-25.7%-21.9%-24.5%
3 Year-79.2%-79.2%-9.5%-14.9%-25.3%-32.4%
5 Year-99.9%-99.9%-16.1%-31.6%-27.6%-39.3%

Price Volatility Vs. Market

How volatile is Abengoa's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Abengoa undervalued compared to its fair value and its price relative to the market?

0.27x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ABG.P's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ABG.P's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ABG.P is good value based on its PE Ratio (0.3x) compared to the Construction industry average (5.1x).

PE vs Market: ABG.P is good value based on its PE Ratio (0.3x) compared to the Spanish market (14x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ABG.P's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ABG.P has negative assets, so we can't compare its PB Ratio to the ES Construction industry average.


Next Steps

Future Growth

How is Abengoa forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.1%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Abengoa has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Abengoa performed over the past 5 years?

8.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ABG.P has a large one-off loss of €1.0B impacting its September 30 2019 financial results.

Growing Profit Margin: ABG.P became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ABG.P has become profitable over the past 5 years, growing earnings by 8.7% per year.

Accelerating Growth: ABG.P has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ABG.P has become profitable in the last year, making it difficult to compare its past year earnings growth to the Construction industry (16.8%).


Return on Equity

High ROE: ABG.P's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Abengoa's financial position?


Financial Position Analysis

Short Term Liabilities: ABG.P has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: ABG.P has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: ABG.P has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: ABG.P's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

Inventory Level: ABG.P has a low level of unsold assets or inventory.

Debt Coverage by Assets: ABG.P has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ABG.P is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: ABG.P is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ABG.P's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ABG.P's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ABG.P's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ABG.P's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ABG.P is not paying a notable dividend for the Spanish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ABG.P's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Joaquin Fernandez de Pierola Marín (48yo)

4s

Tenure

€571,000

Compensation

Mr. Joaquin Fernandez de Pierola Marín has been Chief Executive Officer of Abengoa SA since March 6, 2016 and served as its General Manager from November 27, 2015 to November 29, 2016. He served as the Fir ...


CEO Compensation Analysis

Compensation vs Market: Joaquin Fernandez's total compensation ($USD0.00) is below average for companies of similar size in the Spanish market ($USD609.82K).

Compensation vs Earnings: Joaquin Fernandez's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Gonzalo Urquijo y Fernández de Araoz
Executive Chairman3.33yrs€1.49mno data
Joaquin Fernandez de Pierola Marín
Chief Executive Officer4yrs€571.00kno data
José Domínguez Abascal
Executive Presidentno data€119.00kno data
Víctor Pastor Fernández
Chief Financial Officer3.33yrsno datano data
Gonzalo Zubiria
Head of Investor Relations & Capital Marketsno datano datano data
Daniel Echarri
General Counsel & Secretaryno datano datano data
Álvaro Polo Guerrero Moreno
Director of Human Resources20.17yrsno datano data
María Olimpia Montero Sánchez
Head of Structured Financingno datano datano data
Salvador Balboa Linares
Head of Derivatives14.17yrsno datano data
David Jiménez-Blanco Carrillo Albornoz
Chief Restructuring & Strategy Officer1.17yrsno datano data

4.0yrs

Average Tenure

58yo

Average Age

Experienced Management: ABG.P's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gonzalo Urquijo y Fernández de Araoz
Executive Chairman3.33yrs€1.49mno data
William Richardson
Member of International Advisory Board9yrsno datano data
Javier Benjumea Llorente
Chairman of International Advisory Boardno data€111.00kno data
Mario J. Molina
Member of International Advisory Boardno datano datano data
Manuel Castro Aladro
Lead Independent Director3.33yrs€100.00kno data
Álvaro Fernández-Villaverde Fernández-Villaverde y de Silva
Member of International Advisory Boardno datano datano data
José Borrell Fontelles
Vice Chairman of International Advisory Boardno data€185.00kno data
Nicholas Stern
Member of International Advisory Boardno datano datano data
José Wahnon Levy
Independent Director3.33yrs€100.00kno data
Pilar Cavero Mestre
Independent Director3.33yrs€100.00kno data

3.3yrs

Average Tenure

66yo

Average Age

Experienced Board: ABG.P's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Abengoa, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Abengoa, S.A.
  • Ticker: ABG.P
  • Exchange: BME
  • Founded: 1941
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €107.078m
  • Shares outstanding: 18.83b
  • Website: https://www.abengoa.es

Number of Employees


Location

  • Abengoa, S.A.
  • Campus Palmas Altas
  • 1 Energía Solar Street
  • Seville
  • Andalusia
  • 41014
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ABGO.FOTCPK (Pink Sheets LLC)YesClass A SharesUSUSDDec 1996
ABGBME (Bolsas y Mercados Espanoles)YesClass A SharesESEURDec 1996
AYODB (Deutsche Boerse AG)YesClass A SharesDEEURDec 1996
0NUILSE (London Stock Exchange)YesClass A SharesGBEURDec 1996
ABGEBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBEURDec 1996
ABGO.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008
ABG.PBME (Bolsas y Mercados Espanoles)Class B SharesESEUROct 2012
ABGPEBATS-CHIXE (BATS 'Chi-X Europe')Class B SharesGBEUROct 2012
AGOA.FOTCPK (Pink Sheets LLC)Class B SharesUSUSDOct 2012
0QD0LSE (London Stock Exchange)Class B SharesGBEUROct 2012
AYO2DUSE (Dusseldorf Stock Exchange)Class B SharesDEEUROct 2012

Biography

Abengoa, S.A., together with its subsidiaries, provides technology solutions for the energy and water sectors in Spain and rest of Europe, North America, Brazil and rest of South America, Europe, Africa, and the Middle East. It operates through two segments, Engineering and Construction, and Concession-Type Infrastructures. The Engineering and Construction segment offers engineering services, including turnkey projects for thermo-solar plants, solar-gas hybrid plants, conventional generation plants, biofuels plants, and water infrastructures, as well as large-scale desalination plants and transmission lines, and others. It is also involved in the development of solar thermal and water management technologies; and technological business activities, such as hydrogen or the management of energy crops. The Concession-Type Infrastructure segment undertakes take-or-pay contracts or power purchase agreements comprising the operation of electric energy generation plants that include solar, cogeneration, or wind, as well as desalination plants and transmission lines. Abengoa, S.A. was founded in 1941 and is headquartered in Seville, Spain. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/29 23:00
End of Day Share Price2020/03/27 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.