BME:FCC

Stock Analysis Report

Fomento de Construcciones y Contratas

Executive Summary

Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, engages in the environmental services, water, and infrastructure development businesses in Europe and internationally.

Snowflake

Fundamentals

Acceptable track record with moderate growth potential.


Similar Companies

Share Price & News

How has Fomento de Construcciones y Contratas's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.4%

FCC

1.1%

ES Construction

2.7%

ES Market


1 Year Return

-11.0%

FCC

20.5%

ES Construction

4.5%

ES Market

Return vs Industry: FCC underperformed the Spanish Construction industry which returned 20.5% over the past year.

Return vs Market: FCC underperformed the Spanish Market which returned 4.5% over the past year.


Share holder returns

FCCIndustryMarket
7 Day0.4%1.1%2.7%
30 Day-4.7%-1.3%1.2%
90 Day-8.9%1.3%-1.4%
1 Year-8.5%-11.0%24.6%20.5%8.1%4.5%
3 Year35.9%32.1%38.5%30.2%16.9%6.1%
5 Year5.8%-29.0%37.4%4.9%12.7%-8.7%

Price Volatility Vs. Market

How volatile is Fomento de Construcciones y Contratas's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fomento de Construcciones y Contratas undervalued based on future cash flows and its price relative to the stock market?

17.63x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: FCC (€10.66) is trading above our estimate of fair value (€10.57)

Significantly Undervalued: FCC is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: FCC is poor value based on its PE Ratio (17.6x) compared to the Construction industry average (11.3x).

PE vs Market: FCC is poor value based on its PE Ratio (17.6x) compared to the Spanish market (16.6x).


Price Based on Expected Growth

Low PEG Ratio: FCC is poor value based on its PEG Ratio (1.3x)


Price Based on Value of Assets

PB vs Industry: FCC is good value based on its PB Ratio (2.4x) compared to the ES Construction industry average (2.8x).


Next Steps

Future Growth

How is Fomento de Construcciones y Contratas expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

13.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: FCC's forecast earnings growth (13.9% per year) is above the savings rate (1.5%).

Earnings vs Market: FCC's earnings (13.9% per year) are forecast to grow faster than the Spanish market (7.4% per year).

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

Revenue vs Market: FCC's revenue (3.9% per year) is forecast to grow faster than the Spanish market (3.7% per year).

High Growth Revenue: FCC's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: FCC's Return on Equity is forecast to be low in 3 years time (14.4%).


Next Steps

Past Performance

How has Fomento de Construcciones y Contratas performed over the past 5 years?

73.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FCC has become profitable over the past 5 years, growing earnings by 73% per year.

Accelerating Growth: FCC's earnings growth over the past year (7.4%) is below its 5-year average (73% per year).

Earnings vs Industry: FCC earnings growth over the past year (7.4%) underperformed the Construction industry 9.3%.


Return on Equity

High ROE: FCC's Return on Equity (13.4%) is considered low.


Return on Assets

ROA vs Industry: FCC has a higher Return on Assets than the Construction industry average last year.


Return on Capital Employed

ROCE Improving: FCC has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Fomento de Construcciones y Contratas's financial position?


Financial Position Analysis

Short Term Liabilities: FCC's short term assets (€3.9B) exceeds its short term liabilities (€3.2B)

Long Term Liabilities: FCC's short term assets (3.9B) do not cover its long term liabilities (5.8B)


Debt to Equity History and Analysis

Debt Level: FCC's debt to equity ratio (191.7%) is considered high

Reducing Debt: FCC's debt to equity ratio has reduced from 3482.8% to 191.7% over the past 5 years.

Debt Coverage: FCC's debt is not well covered by operating cash flow (13.9%).

Interest Coverage: FCC's interest payments on its debt are well covered by EBIT (3.9x coverage).


Balance Sheet

Inventory Level: FCC has a high level of physical assets or inventory.

Debt Coverage by Assets: FCC's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

What is Fomento de Construcciones y Contratas's current dividend yield, its reliability and sustainability?

4.25%

Expected Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%2.2%markettop25%5.7%industryaverage3.8%forecastin3Years4.3%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: FCC's dividend (3.75%) is higher than the bottom 25% of dividend payers in the Spanish market (2.24%).

High Dividend: FCC's dividend (3.75%) is low compared to the top 25% of dividend payers in the Spanish market (5.66%).

Stable Dividend: FCC's dividend payments have been volatile in the past 10 years.

Growing Dividend: FCC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (66.2%), FCC's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FCC's dividends in 3 years are forecast to be covered by earnings (53.7% payout ratio).


Next Steps

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?

4.8yrs

Average board tenure


CEO

Pablo Colio Abril (51yo)

2.1yrs

Tenure

0

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 ser ...


Board Age and Tenure

4.8yrs

Average Tenure

50yo

Average Age

Experienced Board: FCC's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

Insider Buying: FCC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy€48,70602 Sep 19
Gerardo Kuri Kaufmann
EntityIndividual
Role
Member of the Board of Directors
Executive Director & Member of Executive Committee
Shares4,535
Max Price€10.74
Buy€55,00027 Aug 19
Gerardo Kuri Kaufmann
EntityIndividual
Role
Member of the Board of Directors
Executive Director & Member of Executive Committee
Shares5,000
Max Price€11.00
Buy€138,51925 Jun 19
Antonio Gómez Garcia
EntityIndividual
Shares11,650
Max Price€11.89
Buy€66225 Jun 19
Alejandro Aboumrad González
EntityIndividual
Role
Member of the Board of Directors
Chairman of Executive Committee & Propietary Director
Shares1,035
Max Price€0.64
Buy€520 Jun 19
Gerardo Kuri Kaufmann
EntityIndividual
Role
Member of the Board of Directors
Executive Director & Member of Executive Committee
Shares491
Max Price€0.01
Buy€6,28518 Jun 19
Juan Rodríguez Torres
EntityIndividual
Role
Member of the Board of Directors
Proprietary Director & Member of Executive Committee
Shares9,821
Max Price€0.64
Buy€291,25008 Apr 19
Juan Rodríguez Torres
EntityIndividual
Role
Member of the Board of Directors
Proprietary Director & Member of Executive Committee
Shares25,000
Max Price€11.65
Buy€11,66005 Apr 19
Gerardo Kuri Kaufmann
EntityIndividual
Role
Member of the Board of Directors
Executive Director & Member of Executive Committee
Shares1,000
Max Price€11.66
Buy€97,44223 Nov 18
Antonio Gómez Garcia
EntityIndividual
Shares7,890
Max Price€12.35
Buy€214,90221 Nov 18
Antonio Gómez Garcia
EntityIndividual
Shares17,419
Max Price€12.36

Ownership Breakdown


Management Team

  • Esther Alcocer Koplowitz (49yo)

    Chairwoman & Member of Executive Committee

    • Tenure: 6.8yrs
    • Compensation: €62.00k
  • Felipe Bernabé García Pérez

    General Secretary

    • Tenure: 0yrs
  • Alicia Alcocer Koplowitz (48yo)

    Propietary Director & Member of Executive Committee

    • Tenure: 20.6yrs
    • Compensation: €63.00k
  • Juan Rodríguez Torres (80yo)

    Proprietary Director & Member of Executive Committee

    • Tenure: 4.3yrs
    • Compensation: €15.00k
  • Alejandro Aboumrad González (39yo)

    Chairman of Executive Committee & Propietary Director

    • Tenure: 4.8yrs
    • Compensation: €328.00k
  • Gerardo Kuri Kaufmann (35yo)

    Executive Director & Member of Executive Committee

    • Tenure: 4.8yrs
    • Compensation: €46.00k
  • Julio Pastor Bayón

    Director of Communications & Corporate Social Responsibility

    • Tenure: 4.5yrs
  • José Cerro Redondo

    Head of Legal Services

    • Tenure: 0yrs
  • Miguel Angel Martinez Parra

    General Manager of Administration & Finance

    • Tenure: 0yrs
  • Pablo Colio Abril (51yo)

    CEO, MD

    • Tenure: 2.1yrs

Board Members

  • Esther Alcocer Koplowitz (49yo)

    Chairwoman & Member of Executive Committee

    • Tenure: 6.8yrs
    • Compensation: €62.00k
  • Ignacio Bayón Mariné (75yo)

    Chairman of Realia Business

    • Tenure: 0yrs
  • Alicia Alcocer Koplowitz (48yo)

    Propietary Director & Member of Executive Committee

    • Tenure: 20.6yrs
    • Compensation: €63.00k
  • Esther Koplowitz Romero de Juseu (69yo)

    First Vice Chairwoman

    • Tenure: 0yrs
    • Compensation: €25.00k
  • Eduardo González Gómez

    Director of Institutional Relations & Non-Executive Chairman of FCC Aqualia

    • Tenure: 6yrs
  • Agustín García Gila

    Chairman of FCC Environmental Services & Chairman of FCC Medio Ambiente

    • Tenure: 0yrs
  • Juan Rodríguez Torres (80yo)

    Proprietary Director & Member of Executive Committee

    • Tenure: 4.3yrs
    • Compensation: €15.00k
  • Alejandro Aboumrad González (39yo)

    Chairman of Executive Committee & Propietary Director

    • Tenure: 4.8yrs
    • Compensation: €328.00k
  • Gerardo Kuri Kaufmann (35yo)

    Executive Director & Member of Executive Committee

    • Tenure: 4.8yrs
    • Compensation: €46.00k
  • Pablo Colio Abril (51yo)

    CEO, MD

    • Tenure: 2.1yrs

Company Information

Fomento de Construcciones y Contratas, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fomento de Construcciones y Contratas, S.A.
  • Ticker: FCC
  • Exchange: BME
  • Founded: 1900
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €4.172b
  • Shares outstanding: 391.41m
  • Website: https://www.fcc.es/es/

Number of Employees


Location

  • Fomento de Construcciones y Contratas, S.A.
  • Avda. Camino de Santiago, 40
  • Madrid
  • Madrid
  • 28050
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FMOC.FOTCPK (Pink Sheets LLC)YesCommon Bearer SharesUSUSDMar 1992
FCCBME (Bolsas y Mercados Espanoles)YesCommon Bearer SharesESEURMar 1992
0HAALSE (London Stock Exchange)YesCommon Bearer SharesGBEURMar 1992
FCCDB (Deutsche Boerse AG)YesCommon Bearer SharesDEEURMar 1992
FCCEBATS-CHIXE (BATS 'Chi-X Europe')YesCommon Bearer SharesGBEURMar 1992
FCC NBMV (Bolsa Mexicana de Valores)YesCommon Bearer SharesMXMXNMar 1992
FMOC.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Biography

Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, engages in the environmental services, water, and infrastructure development businesses in Europe and internationally. The compa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 20:43
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
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.

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