Ferrovial
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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
1 Year Returns
FER Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Ferrovial (FER) | 2.4% | 0.5% | 8.4% | 19.2% | 11.5% | 31.4% |
| ES Construction | 1.6% | -0.2% | 9.2% | 11.5% | 18.7% | -14.4% |
| ES Market | 1.1% | 1.2% | 7.1% | -2.1% | 6.7% | -10.7% |
1 Year Return vs Industry and Market
- FER outperformed the Construction industry which returned 11.5% over the past year.
- FER outperformed the Market in Spain which returned -2.1% over the past year.
Price Volatility
Related Companies
FER 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Ferrovial.
| 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 | 12.2% |
| 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.
| 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))
= 1.035 (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)
= 1.53% + (1.305 * 8.18%) |
12.2% |
Discounted Cash Flow Calculation for BME: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.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 12.2%) |
|
|---|---|---|---|
| 2019 | 484.67 | Analyst x3 | 431.96 |
| 2020 | 713.60 | Analyst x8 | 566.83 |
| 2021 | 827.67 | Analyst x3 | 585.94 |
| 2022 | 860.00 | Analyst x1 | 542.62 |
| 2023 | 887.02 | Est @ 3.14% | 498.81 |
| 2024 | 910.59 | Est @ 2.66% | 456.37 |
| 2025 | 931.69 | Est @ 2.32% | 416.17 |
| 2026 | 951.07 | Est @ 2.08% | 378.63 |
| 2027 | 969.28 | Est @ 1.91% | 343.91 |
| 2028 | 986.70 | Est @ 1.8% | 312.02 |
| Present value of next 10 years cash flows | €4,533.25 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €986.70 × (1 + 1.53%) ÷ (12.2% – 1.53%) |
€9,383.30 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €9,383.30 ÷ (1 + 12.2%)10 |
€2,967.23 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €4,533.25 + €2,967.23 |
€7,500.48 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €7,500.48 / 731.04 |
€10.26 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €10.26 |
| Current discount | Discount to share price of
€20.99
= -1 x (€20.99 - €10.26) / €10.26 |
-104.6% |
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.
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?
| 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 |
| Spain Construction Industry PE Ratio | Median Figure of 7 Publicly-Listed Construction Companies | 17.57x |
| Spain Market PE Ratio | Median Figure of 132 Publicly-Listed Companies | 17.91x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Ferrovial.
| 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 ES Construction industry average.
- Ferrovial is overvalued based on earnings compared to the Spain market.
Price based on expected Growth
Does
Ferrovial's expected growth come at a high price?
| 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 |
| Spain Market PEG Ratio | Median Figure of 75 Publicly-Listed Companies | 1.33x |
*Line of best fit is calculated by linear regression .
| 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?
| 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 |
| Spain Construction Industry PB Ratio | Median Figure of 10 Publicly-Listed Construction Companies | 2.7x |
| Spain Market PB Ratio | Median Figure of 180 Publicly-Listed Companies | 1.84x |
| 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 ES Construction industry average.
Value checks
We assess Ferrovial's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check) 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.
FER 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!
Earnings growth vs Low Risk Savings
- Ferrovial's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
- Ferrovial's earnings growth is expected to exceed the Spain market average.
- Ferrovial's revenue growth is expected to exceed the Spain market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| BME:FER Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts | 9.9% |
| BME:FER Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts | 21.6% |
| Spain Construction Industry Earnings Growth Rate | Market Cap Weighted Average | 9.9% |
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Ferrovial's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Spain market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Spain market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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.
FER 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
Past Earnings growth analysis
- 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 ES Construction industry average in the past year (8.6% vs 15.1%).
Earnings and Revenue History
All data from Ferrovial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 ES 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).
Past performance checks
We assess Ferrovial's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
FER 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.
- 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
Assets
Liabilities and shares
- 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.
All data from Ferrovial Company Filings, last reported 3 months ago.
| 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).
Financial health checks
We assess Ferrovial's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Ferrovial has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
FER 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
If you bought
€2,000 of
Ferrovial
shares you are expected to receive
€68
in your first year as a dividend.
Dividend Amount
- Ferrovial's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (1.86%).
- Ferrovial's dividend is below the markets top 25% of dividend payers in Spain (5.07%).
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.
| 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% |
| 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 | 5.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| 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 |
| 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.
Income/ dividend checks
We assess Ferrovial's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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.
FER Management
CEO
| 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.
- Íñigo's remuneration is higher than average for companies of similar size in Spain.
Management Team Tenure
Average tenure and age of the Ferrovial management team in years:
- 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
Chairman of the Board
€4M
60
Íñigo Amusco
CEO & Executive Director
€4M
55
9.5 yrs
Ernesto Mozo
Chief Financial Officer
54
9.5 yrs
Federico Flórez
Chief Information & Innovation Officer
58
11 yrs
Ricardo Jiménez
Head of Investor Relations
Santiago Ortiz Vaamonde
General Counsel & Secretary
56
10.3 yrs
María Dionis
Chief Human Resources Officer
3.8 yrs
María Pulido
Director of Corporate Strategy
Alejandro de la Joya Ruiz de Velasco
Chief Executive Officer of Cintra
51
11.1 yrs
Jorge Gil
Chief Executive Officer of Ferrovial Aeropuertos
6.3 yrs
Board of Directors Tenure
Average tenure and age of the Ferrovial board of directors in years:
- 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
CEO & Executive Director
€4M
55
9.5 yrs
Joaquín García
Second Vice Chairman of the Board
€150K
63
17.3 yrs
Rafael del Pino y Calvo-Sotelo
Chairman of the Board
€4M
60
19.3 yrs
Santiago Bergareche Busquet
First Vice Chairman of the Board
€183K
72
20.3 yrs
Santiago Fernández Valbuena
Independent Director
€163K
60
10.9 yrs
José Fernando Mans
Independent Director
€157K
70
9.3 yrs
Óscar Martín
Lead Director
€143K
69
María del Pino Calvo-Sotelo
External Proprietary Director
€138K
61
12.6 yrs
Joaquín Del Pino Calvo-Sotelo
External Proprietary Director
€131K
57
3.5 yrs
Philip Bowman
Independent Director
€138K
65
2.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Ferrovial's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
FER News
Simply Wall St News
Ferrovial, S.A. (BME:FER): Can Growth Justify Its March Share Price?
(BME:FER) is considered a high-growth stock, but its last closing price of €20.56 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … Should you get excited about FER's future.
Simply Wall St - – Full articleShould Ferrovial, S.A.’s (BME:FER) Weak Investment Returns Worry You?
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. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleShould Ferrovial SA (BME:FER) Focus On Improving This Fundamental Metric?
This article is for those who would like to learn about Return On Equity (ROE). … That means that for every €1 worth of shareholders' equity, it generated €0.032 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleFerrovial SA (BME:FER): Why Return On Capital Employed Is Important
and want a simplistic look at the return on Ferrovial SA (BME:FER) stock. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Ferrovial’s capital returns we will look at a useful metric called return on capital employed.
Simply Wall St - – Full articleFerrovial SA (BME:FER): What Does The Future Look Like?
Looking at Ferrovial SA's (BME:FER) earnings update in March 2018,. … as a 4.00% increase in profits is expected in the upcoming year, … the past 5-year average growth rate of -13.66%
Simply Wall St - – Full articleShould You Be Tempted To Sell Ferrovial SA (BME:FER) At Its Current PE Ratio?
Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … Check out our latest analysis for Ferrovial
Simply Wall St - – Full articleDoes Ferrovial SA's (BME:FER) PE Ratio Warrant A Sell?
But can investors make a closing judgement of the company’s value based on this hefty multiple. … The answer is no, since important variables like the company’s potential to grow and debt levels are ignored in the PE’s calculation … In this article, I am going to take you through some key things to consider in order to identify which multiple is the most relevant for
Simply Wall St - – Full articleFerrovial SA (BME:FER): Can It Deliver A Superior ROE To The Industry?
and want to better understand how you can grow your money by investing in Ferrovial SA (BME:FER). … Ferrovial SA (BME:FER) delivered a less impressive 4.65% ROE over the past year, compared to the 11.45% return generated by its industry. … FER's results could indicate a relatively inefficient operation to its peers, and while this may be the case, it is important to understand what ROE is made up of and how it should be interpreted.
Simply Wall St - – Full articleIs Ferrovial SA (BME:FER) A Strong Dividend Stock?
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Ferrovial SA (BME:FER) has returned to shareholders over the past 10 years, an average dividend yield of 11.00% annually. … Does it pay an annual yield higher than 75% of dividend payers?
Simply Wall St - – Full articleEstimating The Intrinsic Value Of Ferrovial SA (BME:FER)
How far off is Ferrovial SA (BME:FER) from its intrinsic value? … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleFER 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: | BME |
| 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
Industry
| Construction and Engineering | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/18 20:34 |
| 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.
