Loading...

Fomento de Construcciones y Contratas

BME:FCC
Snowflake Description

Solid track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCC
BME
€4B
Market Cap
  1. Home
  2. ES
  3. Capital Goods
Company description

Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, engages in the environmental services, water, and infrastructure development businesses in Spain and internationally. The last earnings update was 55 days ago. More info.


Add to Portfolio Compare Print
FCC Share Price and Events
7 Day Returns
-2.7%
BME:FCC
0.7%
ES Construction
0.8%
ES Market
1 Year Returns
8.3%
BME:FCC
11.9%
ES Construction
-2.2%
ES Market
FCC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fomento de Construcciones y Contratas (FCC) -2.7% -1.9% -11.7% 8.3% 51.4% -28.6%
ES Construction 0.7% 2.6% 7.6% 11.9% 18.7% -13.3%
ES Market 0.8% 3.5% 6% -2.2% 7.3% -9.6%
1 Year Return vs Industry and Market
  • FCC underperformed the Construction industry which returned 11.9% over the past year.
  • FCC outperformed the Market in Spain which returned -2.2% over the past year.
Price Volatility
FCC
Industry
5yr Volatility vs Market

FCC Value

 Is Fomento de Construcciones y Contratas 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 Fomento de Construcciones y Contratas 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 Fomento de Construcciones y Contratas.

BME:FCC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14%
Perpetual Growth Rate 10-Year ES Government Bond Rate 1.5%

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 BME:FCC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ES Govt Bond Rate 1.5%
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))
= 1.04 (1 + (1- 25%) (94.96%))
1.523
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (1.523 * 8.18%)
13.99%

Discounted Cash Flow Calculation for BME:FCC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fomento de Construcciones y Contratas 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.

BME:FCC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 13.99%)
2019 253.80 Analyst x3 222.66
2020 337.60 Analyst x4 259.83
2021 477.00 Analyst x1 322.07
2022 576.33 Est @ 20.82% 341.39
2023 662.97 Est @ 15.03% 344.52
2024 735.78 Est @ 10.98% 335.44
2025 795.71 Est @ 8.14% 318.25
2026 844.71 Est @ 6.16% 296.39
2027 885.00 Est @ 4.77% 272.43
2028 918.60 Est @ 3.8% 248.07
Present value of next 10 years cash flows €2,961.06
BME:FCC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €918.60 × (1 + 1.53%) ÷ (13.99% – 1.53%)
€7,484.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €7,484.34 ÷ (1 + 13.99%)10
€2,021.18
BME:FCC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,961.06 + €2,021.18
€4,982.23
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,982.23 / 378.00
€13.18
BME:FCC Discount to Share Price
Calculation Result
Value per share (EUR) From above. €13.18
Current discount Discount to share price of €11.48
= -1 x (€11.48 - €13.18) / €13.18
12.9%

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

Current Discount
Amount off the current price Fomento de Construcciones y Contratas is available for.
Intrinsic value
13%
Share price is €11.48 vs Future cash flow value of €13.18
Current Discount Checks
For Fomento de Construcciones y Contratas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Fomento de Construcciones y Contratas's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Fomento de Construcciones y Contratas's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Fomento de Construcciones y Contratas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fomento de Construcciones y Contratas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BME:FCC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.66
BME:FCC Share Price ** BME (2019-04-23) in EUR €11.48
Spain Construction Industry PE Ratio Median Figure of 7 Publicly-Listed Construction Companies 17.69x
Spain Market PE Ratio Median Figure of 132 Publicly-Listed Companies 17.89x

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

** Primary Listing of Fomento de Construcciones y Contratas.

BME:FCC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 11.48 ÷ 0.66

17.27x

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

  • Fomento de Construcciones y Contratas is good value based on earnings compared to the ES Construction industry average.
  • Fomento de Construcciones y Contratas is good value based on earnings compared to the Spain market.
Price based on expected Growth
Does Fomento de Construcciones y Contratas's expected growth come at a high price?
Raw Data
BME:FCC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
10.2%per year
Europe Construction Industry PEG Ratio Median Figure of 46 Publicly-Listed Construction Companies 1.22x
Spain Market PEG Ratio Median Figure of 75 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

BME:FCC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.27x ÷ 10.2%

1.69x

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

  • Fomento de Construcciones y Contratas is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Fomento de Construcciones y Contratas's assets?
Raw Data
BME:FCC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €4.45
BME:FCC Share Price * BME (2019-04-23) in EUR €11.48
Spain Construction Industry PB Ratio Median Figure of 10 Publicly-Listed Construction Companies 2.71x
Spain Market PB Ratio Median Figure of 180 Publicly-Listed Companies 1.82x
BME:FCC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 11.48 ÷ 4.45

2.58x

* Primary Listing of Fomento de Construcciones y Contratas.

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

  • Fomento de Construcciones y Contratas is good value based on assets compared to the ES Construction industry average.
X
Value checks
We assess Fomento de Construcciones y Contratas'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. Fomento de Construcciones y Contratas has a total score of 3/6, 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.

FCC Future Performance

 How is Fomento de Construcciones y Contratas expected to perform in the next 1 to 3 years based on estimates from 6 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
10.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fomento de Construcciones y Contratas expected to grow at an attractive rate?
  • Fomento de Construcciones y Contratas's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
  • Fomento de Construcciones y Contratas's earnings growth is expected to exceed the Spain market average.
  • Fomento de Construcciones y Contratas's revenue growth is positive but not above the Spain market average.
Annual Growth Rates Comparison
Raw Data
BME:FCC Future Growth Rates Data Sources
Data Point Source Value (per year)
BME:FCC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 10.2%
BME:FCC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 1.8%
Spain Construction Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
Spain Construction Industry Revenue Growth Rate Market Cap Weighted Average 11.2%
Spain Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Spain Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*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
BME:FCC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BME:FCC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,555 345 3
2020-12-31 6,323 670 284 6
2019-12-31 6,148 638 242 2
BME:FCC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 6,161 489 252
2018-09-30 6,060 141
2018-06-30 6,002 624 213
2018-03-31 5,955 147
2017-12-31 5,966 769 118
2017-09-30 6,039 171
2017-06-30 6,057 811 -160
2017-03-31 6,124 -123
2016-12-31 6,163 1,025 -154
2016-09-30 6,258 1,167 -205
2016-06-30 6,416 1,056 46
2016-03-31 6,570 758 10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fomento de Construcciones y Contratas's earnings are expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
  • Fomento de Construcciones y Contratas's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (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
BME:FCC 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 6 Analyst Estimates (S&P Global) See Below

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

BME:FCC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.96 0.97 0.94 2.00
2020-12-31 0.74 0.89 0.57 6.00
2019-12-31 0.65 0.69 0.60 3.00
BME:FCC Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.66
2018-09-30 0.37
2018-06-30 0.56
2018-03-31 0.39
2017-12-31 0.31
2017-09-30 0.45
2017-06-30 -0.54
2017-03-31 -0.33
2016-12-31 -0.43
2016-09-30 -0.54
2016-06-30 0.12
2016-03-31 0.03

*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.
  • Fomento de Construcciones y Contratas is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fomento de Construcciones y Contratas'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 Spain market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Spain 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.
Fomento de Construcciones y Contratas has a total score of 2/6, 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.

FCC Past Performance

  How has Fomento de Construcciones y Contratas 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 Fomento de Construcciones y Contratas'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.
  • Fomento de Construcciones y Contratas has delivered over 20% year on year earnings growth in the past 5 years.
  • Fomento de Construcciones y Contratas's 1-year earnings growth exceeds its 5-year average (113.1% vs 65.8%)
  • Fomento de Construcciones y Contratas's earnings growth has exceeded the ES Construction industry average in the past year (113.1% vs 15.1%).
Earnings and Revenue History
Fomento de Construcciones y Contratas'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 Fomento de Construcciones y Contratas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:FCC 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 6,161.05 251.57 1,864.80
2018-09-30 6,060.25 140.54 1,780.45
2018-06-30 6,002.20 213.16 1,817.12
2018-03-31 5,955.05 146.94 1,780.45
2017-12-31 5,965.65 118.04 1,780.45
2017-09-30 6,039.15 171.32 1,822.23
2017-06-30 6,057.45 -159.80 1,778.39
2017-03-31 6,124.15 -123.48 1,822.23
2016-12-31 6,162.95 -154.28 1,822.23
2016-09-30 6,258.02 -204.78 1,858.63
2016-06-30 6,415.61 45.88 1,842.99
2016-03-31 6,570.12 10.02 1,858.63
2015-12-31 6,670.42 43.02 1,858.63
2015-09-30 6,757.80 75.08 1,916.70
2015-06-30 6,679.53 -669.27 1,888.58
2015-03-31 6,602.30 -696.92 1,916.70
2014-12-31 6,557.70 -745.52 1,916.70
2014-09-30 6,673.81 -1,365.87 483.10
2014-06-30 6,930.22 -630.74 1,975.17
2014-03-31 7,090.06 -669.79 2,005.00
2013-12-31 7,049.96 -630.29 2,005.00
2013-09-30 7,087.89 -332.42 3,676.83
2013-06-30 7,261.01 -242.04 2,026.85
2013-03-31 6,754.49 -162.50 2,154.93
2012-12-31 7,626.64 -158.50 2,154.93
2012-09-30 9,197.05 86.64 3,331.10
2012-06-30 10,282.05 66.70 2,835.09

*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.
  • Fomento de Construcciones y Contratas has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fomento de Construcciones y Contratas used its assets more efficiently than the ES Construction industry average last year based on Return on Assets.
  • Fomento de Construcciones y Contratas has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fomento de Construcciones y Contratas'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.
Fomento de Construcciones y Contratas has a total score of 5/6, 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.

FCC Health

 How is Fomento de Construcciones y Contratas'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 Fomento de Construcciones y Contratas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fomento de Construcciones y Contratas is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fomento de Construcciones y Contratas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Fomento de Construcciones y Contratas'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x 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 Fomento de Construcciones y Contratas Company Filings, last reported 3 months ago.

BME:FCC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,958.78 4,120.77 1,445.00
2018-09-30 1,876.50 4,231.50 1,435.60
2018-06-30 833.93 4,790.56 1,155.31
2018-03-31 728.40 4,912.40 1,131.50
2017-12-31 938.52 4,963.21 1,396.82
2017-09-30 982.60 4,950.50 1,140.00
2017-06-30 935.68 4,815.79 1,103.39
2017-03-31 908.10 5,063.00 1,206.40
2016-12-31 872.88 5,050.04 1,409.81
2016-09-30 911.00 5,440.00 1,263.00
2016-06-30 1,210.06 5,932.63 1,798.70
2016-03-31 1,164.70 7,001.90 2,299.80
2015-12-31 487.25 7,014.75 1,576.19
2015-09-30 515.60 7,048.10 1,330.60
2015-06-30 513.07 6,941.86 1,131.83
2015-03-31 515.50 7,029.20 1,377.80
2014-12-31 495.42 6,908.85 1,917.55
2014-09-30 -485.74 7,695.13 1,488.42
2014-06-30 223.42 7,562.28 1,371.07
2014-03-31 187.50 7,494.00 1,289.00
2013-12-31 243.16 7,290.58 1,383.95
2013-09-30 948.60 7,772.00 1,194.70
2013-06-30 799.24 7,696.23 1,233.45
2013-03-31 1,284.00 8,747.10 1,492.80
2012-12-31 1,696.99 8,391.68 1,599.22
2012-09-30 2,824.30 8,855.60 1,615.30
2012-06-30 2,846.50 8,490.06 2,065.32
  • Fomento de Construcciones y Contratas's level of debt (210.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (3006.9% vs 210.4% today).
  • Debt is not well covered by operating cash flow (11.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
X
Financial health checks
We assess Fomento de Construcciones y Contratas'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. Fomento de Construcciones y Contratas has a total score of 3/6, 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.

FCC Dividends

 What is Fomento de Construcciones y Contratas'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
0%
Current annual income from Fomento de Construcciones y Contratas dividends. Estimated to be 0.65% next year.
If you bought €2,000 of Fomento de Construcciones y Contratas shares you are expected to receive €0 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?
  • Unable to evaluate Fomento de Construcciones y Contratas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Fomento de Construcciones y Contratas's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
BME:FCC 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 6 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 72 Stocks 3.6%
Spain Market Average Dividend Yield Market Cap Weighted Average of 75 Stocks 4.3%
Spain Minimum Threshold Dividend Yield 10th Percentile 1.1%
Spain Bottom 25% Dividend Yield 25th Percentile 1.9%
Spain Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

BME:FCC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.15 1.00
2020-12-31 0.05 2.00
2019-12-31 0.05 1.00
BME:FCC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2013-11-08 0.000 0.000
2013-08-05 0.000 0.000
2013-07-15 0.000 0.000
2013-05-07 0.000 0.000
2013-03-25 0.000 0.000
2013-02-28 0.000 0.000
2012-03-01 1.300 12.544
2011-05-06 1.430 7.596
2011-02-28 1.430 6.314
2010-12-17 1.430 7.000
2010-05-03 1.430 7.352
2009-11-13 1.430 5.234
2009-05-07 1.570 5.501
2009-04-24 1.850 6.732

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

  • Unable to perform a dividend volatility check as Fomento de Construcciones y Contratas has not reported any payouts.
  • Unable to verify if Fomento de Construcciones y Contratas's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Fomento de Construcciones y Contratas's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Fomento de Construcciones y Contratas has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Fomento de Construcciones y Contratas's dividends in 3 years as they are not expected to pay a notable one for Spain.
X
Income/ dividend checks
We assess Fomento de Construcciones y Contratas'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 Fomento de Construcciones y Contratas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fomento de Construcciones y Contratas has a total score of 0/6, see the detailed checks below.


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

FCC Management

 What is the CEO of Fomento de Construcciones y Contratas'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
Pablo Abril
TENURE AS CEO 1.6 years
CEO Bio

Mr. Pablo Colio Abril has been Chief Executive Officer and Managing Director of Fomento De Construcciones Y Contratas, S.A. (FCC Construction) and serves as its Member of Executive Committee. Mr. Abril served as General Manager of FCC Construction at Fomento de Construcciones y Contratas, S.A. since January 16, 2017 and has been its Director since September 12, 2017. He serves as the Chairman of Guzman Energy O&M, S.L. He serves as a Director of FCC Industrial Perú, S.A.

CEO Compensation
  • Insufficient data for Pablo to compare compensation growth.
  • Insufficient data for Pablo to establish whether their remuneration is reasonable compared to companies of similar size in Spain.
Management Team

Esther Alcocer Koplowitz

TITLE
Chairwoman & Member of Executive Committee
COMPENSATION
€62K

Alejandro González

TITLE
Chairman of Executive Committee & Propietary Director
COMPENSATION
€328K
AGE
38

Juan Torres

TITLE
Proprietary Director & Member of Executive Committee
COMPENSATION
€15K

Gerardo Kaufmann

TITLE
Executive Director & Member of Executive Committee
COMPENSATION
€46K
AGE
34

Felipe García Pérez

TITLE
General Secretary

Pablo Abril

TITLE
CEO, MD
TENURE
1.6 yrs

Miguel Angel Parra

TITLE
Administration & Finance Director

Alicia Koplowitz

TITLE
Propietary Director & Member of Executive Committee
COMPENSATION
€63K

José Redondo

TITLE
Head of Legal Services

Julio Bayón

TITLE
Director of Communications & Corporate Social Responsibility
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the Fomento de Construcciones y Contratas board of directors in years:

4.3
Average Tenure
38
Average Age
  • The tenure for the Fomento de Construcciones y Contratas board of directors is about average.
Board of Directors

Esther Alcocer Koplowitz

TITLE
Chairwoman & Member of Executive Committee
COMPENSATION
€62K
TENURE
6.3 yrs

Esther Romero de Juseu

TITLE
First Vice Chairwoman
COMPENSATION
€25K

Alejandro González

TITLE
Chairman of Executive Committee & Propietary Director
COMPENSATION
€328K
AGE
38
TENURE
4.3 yrs

Juan Torres

TITLE
Proprietary Director & Member of Executive Committee
COMPENSATION
€15K
TENURE
4.3 yrs

Gerardo Kaufmann

TITLE
Executive Director & Member of Executive Committee
COMPENSATION
€46K
AGE
34
TENURE
4.3 yrs

Pablo Abril

TITLE
CEO, MD
TENURE
1.6 yrs

Alicia Koplowitz

TITLE
Propietary Director & Member of Executive Committee
COMPENSATION
€63K
TENURE
20.1 yrs

Ignacio Bayón Mariné

TITLE
Chairman of Realia Business
AGE
74

Eduardo González Gómez

TITLE
Director of Institutional Relations & Non-Executive Chairman of FCC Aqualia
TENURE
5.5 yrs

Agustín García Gila

TITLE
Chairman of FCC Environmental Services & Chairman of FCC Medio Ambiente
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Fomento de Construcciones y Contratas insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
08. Apr 19 Buy Juan Torres Individual 04. Apr 19 04. Apr 19 25,000 €11.65 €291,250
05. Apr 19 Buy Gerardo Kaufmann Individual 03. Apr 19 03. Apr 19 1,000 €11.66 €11,660
23. Nov 18 Buy Antonio Garcia Individual 12. Nov 18 12. Nov 18 7,890 €12.35 €97,442
21. Nov 18 Buy Antonio Garcia Individual 12. Nov 18 13. Nov 18 17,419 €12.36 €214,902
23. May 18 Buy Gerardo Kaufmann Individual 21. May 18 21. May 18 1,500 €10.50 €15,750
X
Management checks
We assess Fomento de Construcciones y Contratas'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. Fomento de Construcciones y Contratas 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.

FCC News

Simply Wall St News

Is Fomento de Construcciones y Contratas, S.A.’s (BME:FCC) Return On Capital Employed Any Good?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) 14% ROE Better Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Fomento de Construcciones y Contratas, S.A. … Our data shows Fomento de Construcciones y Contratas has a return on equity of 14% for the last year.

Simply Wall St -

Is It Time To Consider Buying Fomento de Construcciones y Contratas, S.A. (BME:FCC)?

saw significant share price movement during recent months on the BME, rising to highs of €13.2 and falling to the lows of €11.32. … A question to answer is whether Fomento de Construcciones y Contratas's current trading price of €11.32 reflective of the actual value of the? … Let’s take a look at Fomento de Construcciones y Contratas’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Do Analysts Think About Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) Future?

The most recent earnings announcement Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) released in December 2018a

Simply Wall St -

Does Fomento de Construcciones y Contratas's Share Price Gain of 89% Match Its Business Performance?

By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Fomento de Construcciones y Contratas was able to grow its EPS at 8.8% per year over three years, sending the share price higher. … This free interactive report on Fomento de Construcciones y Contratas's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

Simply Wall St -

What Should We Expect From Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) Earnings In The Next 12 Months?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … After Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) earnings announcement in September 2018,

Simply Wall St -

Don't Sell Fomento de Construcciones y Contratas, S.A. (BME:FCC) Before You Read This

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Fomento de Construcciones y Contratas, S.A.'s (BME:FCC) P/E ratio and reflect on what it tells us about the company's share price. … Fomento de Construcciones y Contratas has a price to earnings ratio of 35.15, based on the last twelve months.

Simply Wall St -

Investors Are Undervaluing Fomento de Construcciones y Contratas, S.A. (BME:FCC) By 22.53%

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Fomento de Construcciones y Contratas, S.A. … by projecting its future cash flows and then discounting them to today's value. … Discounted Cash Flows (DCF).

Simply Wall St -

With A 7.8% Return On Equity, Is Fomento de Construcciones y Contratas, S.A. (BME:FCC) A Quality Stock?

To keep the lesson grounded in practicality, we'll use ROE to better understand Fomento de Construcciones y Contratas, S.A. … Over the last twelve months Fomento de Construcciones y Contratas has recorded a ROE of 7.8%. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.078 in profit.

Simply Wall St -

Have Insiders Been Buying Fomento de Construcciones y Contratas SA (BME:FCC) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Fomento de Construcciones y Contratas SA (BME:FCC). … In any event it's generally a positive if insiders are buying shares at around the current price. … Overall, Fomento de Construcciones y Contratas insiders were net buyers last year

Simply Wall St -

FCC Company Info

Description

Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, engages in the environmental services, water, and infrastructure development businesses in Spain and internationally. The company offers environmental services, such as waste collection, handling, and treatment, as well as streets, sewers, and green areas cleaning and maintenance. It also provides water management services, such as collection, treatment, and distribution of water for human consumption; wastewater collection, filtering, and treatment; and the design, construction, operation, and maintenance of water infrastructure for municipal, industrial, agricultural, and other services. In addition, the company is involved in infrastructure construction, building construction, and related activities, including motorways, dual carriageways and other roads, tunnels, bridges, hydraulic construction works, ports, airports, residential property developments, housing units, non-residential building construction, lighting, industrial air conditioning and heating systems, environmental restoration, etc. Further it operates quarries and mineral deposits; manufactures cement, lime, plaster, and related pre-manufactured products; and produces concrete. The company was founded in 1900 and is headquartered in Madrid, Spain. Fomento de Construcciones y Contratas, S.A. is a subsidiary of Control Empresarial de Capitales, S.A. de C.V.

Details
Name: Fomento de Construcciones y Contratas, S.A.
FCC
Exchange: BME
Founded: 1900
€4,339,463,832
378,002,076
Website: http://www.fcc.es
Address: Fomento de Construcciones y Contratas, S.A.
Av. Del Camino de Santiago, 40,
Madrid,
Madrid, 28050,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME FCC Common Bearer Shares Bolsas y Mercados Espanoles ES EUR 12. Mar 1992
OTCPK FMOC.F Common Bearer Shares Pink Sheets LLC US USD 12. Mar 1992
DB FCC Common Bearer Shares Deutsche Boerse AG DE EUR 12. Mar 1992
LSE 0HAA Common Bearer Shares London Stock Exchange GB EUR 12. Mar 1992
BMV FCC N Common Bearer Shares Bolsa Mexicana de Valores MX MXN 12. Mar 1992
BATS-CHIXE FCCE Common Bearer Shares BATS 'Chi-X Europe' GB EUR 12. Mar 1992
OTCPK FMOC.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
54,252
Fomento de Construcciones y Contratas employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:48
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/27
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.