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Obrascón Huarte Lain

BME:OHL
Snowflake Description

Excellent balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OHL
BME
€292M
Market Cap
  1. Home
  2. ES
  3. Capital Goods
Company description

Obrascón Huarte Lain, S.A. engages in the concessions and construction businesses primarily in Spain, the United States, Canada, Mexico, Colombia, Peru, Chile, and Central Europe. The last earnings update was 9 days ago. More info.


Add to Portfolio Compare Print
  • Obrascón Huarte Lain has significant price volatility in the past 3 months.
OHL Share Price and Events
7 Day Returns
7.2%
BME:OHL
1%
ES Construction
1.2%
ES Market
1 Year Returns
-74.6%
BME:OHL
12%
ES Construction
-1.9%
ES Market
OHL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Obrascón Huarte Lain (OHL) 7.2% -21.2% 30.6% -74.6% -83.2% -96.8%
ES Construction 1% 1.2% 8.1% 12% 19% -12.8%
ES Market 1.2% 1.6% 5.9% -1.9% 6.3% -9.4%
1 Year Return vs Industry and Market
  • OHL underperformed the Construction industry which returned 12% over the past year.
  • OHL underperformed the Market in Spain which returned -1.9% over the past year.
Price Volatility
OHL
Industry
5yr Volatility vs Market

Value

 Is Obrascón Huarte Lain 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 Obrascón Huarte Lain 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 Obrascón Huarte Lain.

BME:OHL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17.9%
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:OHL
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))
= 1.037 (1 + (1- 25%) (268.72%))
2.426
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (2 * 8.18%)
17.89%

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

The calculations below outline how an intrinsic value for Obrascón Huarte Lain 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:OHL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 17.89%)
2019 -184.33 Analyst x4 -156.36
2020 64.55 Analyst x2 46.45
2021 85.33 Est @ 32.2% 52.09
2022 104.96 Est @ 23% 54.35
2023 122.33 Est @ 16.56% 53.73
2024 137.07 Est @ 12.05% 51.07
2025 149.26 Est @ 8.89% 47.17
2026 159.23 Est @ 6.68% 42.69
2027 167.40 Est @ 5.13% 38.07
2028 174.19 Est @ 4.05% 33.60
Present value of next 10 years cash flows €262.86
BME:OHL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €174.19 × (1 + 1.53%) ÷ (17.89% – 1.53%)
€1,080.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,080.96 ÷ (1 + 17.89%)10
€208.54
BME:OHL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €262.86 + €208.54
€471.40
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €471.40 / 286.04
€1.65
BME:OHL Discount to Share Price
Calculation Result
Value per share (EUR) From above. €1.65
Current discount Discount to share price of €1.02
= -1 x (€1.02 - €1.65) / €1.65
38.1%

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

Current Discount
Amount off the current price Obrascón Huarte Lain is available for.
Intrinsic value
38%
Share price is €1.02 vs Future cash flow value of €1.65
Current Discount Checks
For Obrascón Huarte Lain to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Obrascón Huarte Lain's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Obrascón Huarte Lain'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 Obrascón Huarte Lain's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Obrascón Huarte Lain's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BME:OHL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-3.34
BME:OHL Share Price ** BME (2019-04-18) in EUR €1.02
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 Obrascón Huarte Lain.

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

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

= 1.02 ÷ -3.34

-0.31x

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

  • Obrascón Huarte Lain is loss making, we can't compare its value to the ES Construction industry average.
  • Obrascón Huarte Lain is loss making, we can't compare the value of its earnings to the Spain market.
Price based on expected Growth
Does Obrascón Huarte Lain's expected growth come at a high price?
Raw Data
BME:OHL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
130.4%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 1.35x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Obrascón Huarte Lain, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Obrascón Huarte Lain's assets?
Raw Data
BME:OHL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €2.75
BME:OHL Share Price * BME (2019-04-18) in EUR €1.02
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 1.84x
BME:OHL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.02 ÷ 2.75

0.37x

* Primary Listing of Obrascón Huarte Lain.

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

  • Obrascón Huarte Lain is good value based on assets compared to the ES Construction industry average.
X
Value checks
We assess Obrascón Huarte Lain'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. Obrascón Huarte Lain has a total score of 2/6, 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.

Future Performance

 How is Obrascón Huarte Lain expected to perform in the next 1 to 3 years based on estimates from 5 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
130.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Obrascón Huarte Lain expected to grow at an attractive rate?
  • Unable to compare Obrascón Huarte Lain's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Obrascón Huarte Lain's earnings growth to the Spain market average as it is expected to be loss making during the next 1-3 years.
  • Obrascón Huarte Lain's revenues are expected to decrease over the next 1-3 years, this is below the Spain market average.
Annual Growth Rates Comparison
Raw Data
BME:OHL Future Growth Rates Data Sources
Data Point Source Value (per year)
BME:OHL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 130.4%
BME:OHL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -2.9%
Spain Construction Industry Earnings Growth Rate Market Cap Weighted Average 9.8%
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:OHL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BME:OHL Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 2,751 -30 4
2019-12-31 2,765 -115 5
BME:OHL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,907 -572 -955
2018-09-30 2,881 -361 -846
2018-06-30 3,074 -612 -394
2018-03-31 3,155 -195 -355
2017-12-31 3,172 -134 -209
2017-09-30 3,486 82 -452
2017-06-30 2,854 -455 -1,137
2017-03-31 3,160 -325 -1,001
2016-12-31 3,342 -384 -854
2016-09-30 4,431 -5 -11
2016-06-30 4,521 156 6
2016-03-31 4,435 107 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Obrascón Huarte Lain is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Obrascón Huarte Lain's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:OHL 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 5 Analyst Estimates (S&P Global) See Below

All data from Obrascón Huarte Lain Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:OHL Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 -0.10 0.16 -0.27 5.00
2019-12-31 -0.61 -0.54 -0.69 4.00
BME:OHL Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -3.34
2018-09-30 -2.96
2018-06-30 -1.38
2018-03-31 -1.24
2017-12-31 -0.73
2017-09-30 -1.58
2017-06-30 -3.96
2017-03-31 -3.50
2016-12-31 -2.91
2016-09-30 -0.04
2016-06-30 0.03
2016-03-31 0.11

*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.
  • Unable to establish if Obrascón Huarte Lain will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Obrascón Huarte Lain'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.
Obrascón Huarte Lain has a total score of 0/6, 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.

Past Performance

  How has Obrascón Huarte Lain 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 Obrascón Huarte Lain'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.
  • Obrascón Huarte Lain does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Obrascón Huarte Lain's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Obrascón Huarte Lain's 1-year growth to the ES Construction industry average as it is not currently profitable.
Earnings and Revenue History
Obrascón Huarte Lain'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 Obrascón Huarte Lain Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:OHL 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 2,906.90 -955.44 814.18
2018-09-30 2,880.65 -845.55 803.22
2018-06-30 3,074.23 -394.26 794.05
2018-03-31 3,154.85 -355.35 820.02
2017-12-31 3,172.11 -208.71 824.10
2017-09-30 3,485.73 -451.54 928.00
2017-06-30 2,853.52 -1,137.00 845.03
2017-03-31 3,159.67 -1,001.45 845.58
2016-12-31 3,342.37 -854.15 854.78
2016-09-30 4,431.07 -10.57 923.49
2016-06-30 4,520.80 6.23 910.87
2016-03-31 4,434.97 31.33 904.39
2015-12-31 4,368.87 55.63 891.39
2015-09-30 4,314.72 5.82 838.48
2015-06-30 3,922.64 35.39 801.02
2015-03-31 3,736.99 11.92 754.38
2014-12-31 3,634.09 23.22 720.28
2014-09-30 3,636.87 209.58 716.25
2014-06-30 3,467.99 216.31 699.29
2014-03-31 3,705.47 262.78 680.95
2013-12-31 3,517.90 270.38 670.95
2013-09-30 3,739.19 -43.35 672.47
2013-06-30 3,788.16 -103.85 662.02
2013-03-31 3,937.09 -87.15 659.47
2012-12-31 4,029.59 -156.75 652.27
2012-09-30 5,195.88 225.02 766.19
2012-06-30 3,372.52 99.62 553.71

*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.
  • It is difficult to establish if Obrascón Huarte Lain has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Obrascón Huarte Lain has efficiently used its assets last year compared to the ES Construction industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Obrascón Huarte Lain improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Obrascón Huarte Lain'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.
Obrascón Huarte Lain has a total score of 0/6, 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.

Health

 How is Obrascón Huarte Lain'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 Obrascón Huarte Lain's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Obrascón Huarte Lain is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Obrascón Huarte Lain's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Obrascón Huarte Lain'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.6x 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 Obrascón Huarte Lain Company Filings, last reported 3 months ago.

BME:OHL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 785.67 784.39 842.60
2018-09-30 888.40 754.00 909.30
2018-06-30 1,425.21 787.87 874.29
2018-03-31 3,882.60 1,667.60 405.70
2017-12-31 4,183.23 1,592.14 480.87
2017-09-30 4,292.60 4,078.30 1,082.50
2017-06-30 4,480.23 4,048.77 855.84
2017-03-31 4,480.50 4,246.50 914.10
2016-12-31 4,042.89 4,420.37 1,210.37
2016-09-30 4,392.50 4,757.80 919.30
2016-06-30 4,521.54 5,448.83 724.76
2016-03-31 4,771.20 5,320.10 1,096.40
2015-12-31 4,811.67 5,510.62 1,134.78
2015-09-30 3,770.30 6,965.50 1,169.20
2015-06-30 4,042.75 7,077.25 997.94
2015-03-31 3,877.90 7,651.20 1,598.20
2014-12-31 3,492.38 6,803.56 819.58
2014-09-30 3,538.70 7,428.80 883.60
2014-06-30 3,298.71 7,302.29 701.56
2014-03-31 3,342.50 7,101.70 1,193.50
2013-12-31 3,281.96 6,778.22 842.56
2013-09-30 3,093.40 6,781.80 1,195.90
2013-06-30 3,120.49 6,568.06 799.26
2013-03-31 2,955.90 6,504.90 929.20
2012-12-31 2,721.33 5,519.64 834.82
2012-09-30 2,202.50 7,452.00 1,417.30
2012-06-30 2,115.41 7,399.35 1,599.26
  • Obrascón Huarte Lain's level of debt (99.8%) 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 (206.6% vs 99.8% today).
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.

  • Obrascón Huarte Lain has sufficient cash runway for 1.4 years based on current free cash flow.
  • Obrascón Huarte Lain has sufficient cash runway for 1.3 years if free cash flow continues to grow at historical rates of 43.3% each year.
X
Financial health checks
We assess Obrascón Huarte Lain'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. Obrascón Huarte Lain has a total score of 5/6, 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.

Dividends

 What is Obrascón Huarte Lain'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
34.2%
Current annual income from Obrascón Huarte Lain dividends. Estimated to be 2.58% next year.
If you bought €2,000 of Obrascón Huarte Lain shares you are expected to receive €684 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?
  • Obrascón Huarte Lain's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (1.87%).
  • Obrascón Huarte Lain's dividend is above the markets top 25% of dividend payers in Spain (5.04%).
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:OHL 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 5 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:OHL Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.02 5.00
2019-12-31 0.04 6.00
BME:OHL Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-11 0.349 34.450
2019-02-28 0.349 31.234
2018-11-14 0.349 45.368
2018-09-26 0.349 27.768
2017-05-11 0.000 0.000
2017-02-28 0.000 0.000
2016-06-21 0.047 1.482
2015-05-28 0.350 5.023
2015-04-07 0.351 1.774
2015-02-26 0.351 1.712
2014-05-12 0.678 2.726
2013-05-14 0.652 2.216
2012-07-31 0.560 2.610
2012-04-03 0.560 3.344
2012-02-29 0.560 2.408
2011-03-31 0.490 2.305
2011-02-28 0.490 1.989
2010-04-09 0.431 2.018
2010-02-23 0.431 2.248
2009-11-26 0.453 2.508
2009-04-21 0.431 2.773

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.
Current Payout to shareholders
What portion of Obrascón Huarte Lain's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess Obrascón Huarte Lain'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 Obrascón Huarte Lain afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Obrascón Huarte Lain has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Obrascón Huarte Lain'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
Jose Antonio Gallar
CEO Bio

Mr. Jose Antonio Fernández Gallar is Second Vice-President and Chief Executive Officer at Obrascón Huarte Lain, S.A. since June 28, 2018. He is Civil Engineer specialized in hydraulic and energy by the University of Madrid (ETS of ICCP) and Master in Construction and Real Estate Business Management (MDI). With thirty-four years involved in the construction sector, he will lead the new stage of OHL as a construction and concession development company.

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

Average tenure of the Obrascón Huarte Lain management team in years:

1.5
Average Tenure
  • The average tenure for the Obrascón Huarte Lain management team is less than 2 years, this suggests a new team.
Management Team

Jose Antonio de Cachavera Sánchez

TITLE
Managing Director of Services
COMPENSATION
€19K
TENURE
1.5 yrs

Jose Antonio Gallar

TITLE
Second VP & CEO

Jose Sagardoy

TITLE
Chief Financial Officer

Ángel Puente De Lucas

TITLE
Technical General Manager

Miren Sotomayor

TITLE
Head of Investor Relations

Jose del Cuvillo Pemán

TITLE
Chief Legal Officer & Board of Directors Secretary
AGE
56

Alfonso García

TITLE
Chief Human Resources & Organization Officer & Corporate Strategy and Systems GM
TENURE
1.5 yrs

Andrés Pan de Soraluce Muguiro

TITLE
Managing Director of Development
TENURE
1.5 yrs

Ignacio Botella Rodriguez

TITLE
Managing Director of Engineering & Construction
TENURE
1.5 yrs

Alfonso de Amezua

TITLE
Chief Strategy
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure of the Obrascón Huarte Lain board of directors in years:

2.5
Average Tenure
  • The average tenure for the Obrascón Huarte Lain board of directors is less than 3 years, this suggests a new board.
Board of Directors

Juan de Fuentes

TITLE
Chairman & President of the Administrative Advisory Board
COMPENSATION
€70K
AGE
56
TENURE
2.8 yrs

Jose Antonio Gallar

TITLE
Second VP & CEO
TENURE
0.8 yrs

Silvia de Fuentes

TITLE
First Vice-President
COMPENSATION
€51K
TENURE
2.8 yrs

Reyes Cuadrado

TITLE
Independent Director
COMPENSATION
€126K
TENURE
3.9 yrs

Juan Nieto Bueso

TITLE
Lead Independent Director
COMPENSATION
€13K
AGE
51
TENURE
2.1 yrs

Manuel Garrido Ruano

TITLE
Shareholding Director
COMPENSATION
€22K
TENURE
2.8 yrs

Juan Antonio Sánchez

TITLE
External Director
TENURE
2.8 yrs

Javier de Cacho

TITLE
Shareholding Director
TENURE
1.9 yrs

Carmen de Andrés Conde

TITLE
Independent Director
TENURE
0.8 yrs

César Torrejón

TITLE
Independent Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Jan 19 Sell Carmen de Andrés Conde Individual 28. Dec 18 28. Dec 18 -2,000 €0.67 €-1,340
X
Management checks
We assess Obrascón Huarte Lain'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. Obrascón Huarte Lain 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.

News

Simply Wall St News

Obrascón Huarte Lain SA (BME:OHL): Has Recent Earnings Growth Beaten Long-Term Trend?

In this article, I will take a look at Obrascón Huarte Lain SA's (BME:OHL) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … See our latest analysis for Obrascón Huarte Lain? … However, the company's loss seem to be contracting over the medium term, with the five-year earnings average of -€73.59m

Simply Wall St -

Brokers' Outlook On Obrascón Huarte Lain SA. (BME:OHL)

It's crucial to understand if a company has a strong future based on its current operations and financial status. … Two major red flags for OHL are its high level of debt at 0.43x equity, and its high cash expenses leading to negative cash profit from operations. … OHL has high near term liquidity, with short term assets (cash and other liquid assets) amply covering upcoming one-year liabilities, as well as long-term commitments.

Simply Wall St -

Why Obrascón Huarte Lain SA.'s (BME:OHL) Investor Composition Impacts Your Returns

In this article, I'm going to take a look at Obrascón Huarte Lain SA.’s (BME:OHL) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Private Company Ownership Potential investors in OHL should also look at another important group of investors: private companies, with a stake of 46.14%, who are primarily invested because of strategic and capital gain interests. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: I suggest investors seek some degree of margin of safety due to high institutional ownership in OHL, in particular due to the strong presence of active hedge fund investors.

Simply Wall St -

One Thing To Consider Before Buying Obrascón Huarte Lain SA. (BME:OHL)

If you are looking to invest in Obrascón Huarte Lain SA.’s (BME:OHL), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … With a beta of 1.42, Obrascón Huarte Lain is a stock that tends to experience more gains than the market during a growth phase and also a bigger reduction in value compared to the market during a broad downturn. … As a result, the company may be less volatile relative to broad market movements, compared to a company of similar size but higher proportion of fixed assets.

Simply Wall St -

What Investors Should Know About Obrascón Huarte Lain SA.'s (BME:OHL) Financial Strength

Moving onto cash from operations, its operating cash flow is not yet significant enough to calculate a meaningful cash-to-debt ratio, indicating that operational efficiency is something we’d need to take a look at. … At the current liabilities level of €6.90B liabilities, the company has been able to meet these commitments with a current assets level of €10.54B, leading to a 1.53x current account ratio. … Investors' risk associated with debt is very low with OHL, and the company has plenty of headroom and ability to raise debt should it need to in the future.Next Steps: Although OHL’s debt level is relatively low, its cash flow levels still could not copiously cover its borrowings.

Simply Wall St -

Is There Now An Opportunity In Obrascón Huarte Lain SA. (BME:OHL)?

I find that Obrascón Huarte Lain’s ratio of 0.5x is trading slightly below its industry peers’ ratio of 2.23x, which means if you buy Obrascón Huarte Lain today, you’d be paying a relatively fair price for it. … And if you believe Obrascón Huarte Lain should be trading in this range, then there isn’t much room for the share price grow beyond what it’s currently trading. … OHL’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Are Earnings Prospects Improving For Loss-Making Obrascón Huarte Lain SA.'s (BME:OHL)?

See our latest analysis for Obrascón Huarte Lain Did OHL's recent earnings growth beat the long-term trend and the industry? … BME:OHL Income Statement Mar 12th 18 We can further assess Obrascón Huarte Lain's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past five years Obrascón Huarte Lain has seen an annual decline in revenue of -2.96%, on average.

Simply Wall St -

Company Info

Description

Obrascón Huarte Lain, S.A. engages in the concessions and construction businesses primarily in Spain, the United States, Canada, Mexico, Colombia, Peru, Chile, and Central Europe. The company operates through Engineering and Construction, and Development segments. The Engineering and Construction segment provides civil engineering works and building construction services for public and private-sector customers; and designs, constructs, maintains, and operates industrial plants and systems, such as oil and gas, energy, solids engineering, and fire safety systems. It also offers properties and infrastructure maintenance services for housing and office properties. The Development segment develops and operates mixed-use hotel-related real estate projects. The company was formerly known as Sociedad General de Obras y Construcciones Obrascón, S.A. Obrascón Huarte Lain, S.A. was founded in 1911 and is based in Madrid, Spain.

Details
Name: Obrascón Huarte Lain, S.A.
OHL
Exchange: BME
Founded: 1911
€291,900,225
286,036,478
Website: http://www.ohl.es
Address: Obrascón Huarte Lain, S.A.
Paseo de la Castellana, 259 D,
Torrespacio,
Madrid,
Madrid, 28046,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME OHL Common Stock Bolsas y Mercados Espanoles ES EUR 21. Mar 1995
OTCPK OBSJ.F Common Stock Pink Sheets LLC US USD 21. Mar 1995
DB HUA Common Stock Deutsche Boerse AG DE EUR 21. Mar 1995
LSE 0MKG Common Stock London Stock Exchange GB EUR 21. Mar 1995
BMV OHL N Common Stock Bolsa Mexicana de Valores MX MXN 21. Mar 1995
BATS-CHIXE OHLE Common Stock BATS 'Chi-X Europe' GB EUR 21. Mar 1995
Number of employees
Current staff
Staff numbers
12,167
Obrascón Huarte Lain employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 20:33
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/04/11
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.