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Fomento de Construcciones y Contratas

BATS-CHIXE:FCCE
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCCE
BATS-CHIXE
€3B
Market Cap
  1. Home
  2. GB
  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 Europe and internationally. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
  • Fomento de Construcciones y Contratas has significant price volatility in the past 3 months.
FCCE Share Price and Events
7 Day Returns
2.9%
BATS-CHIXE:FCCE
7.1%
GB Construction
5.3%
GB Market
1 Year Returns
-34.2%
BATS-CHIXE:FCCE
-30.4%
GB Construction
-21.5%
GB Market
FCCE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fomento de Construcciones y Contratas (FCCE) 2.9% -12.7% -31.2% -34.2% -12.7% -33%
GB Construction 7.1% -11.5% -19.6% -30.4% -55.5% -54.4%
GB Market 5.3% -6.5% -25.2% -21.5% -22.4% -21.9%
1 Year Return vs Industry and Market
  • FCCE underperformed the Construction industry which returned -30.4% over the past year.
  • FCCE underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.5% over the past year.
Price Volatility
FCCE
Industry
5yr Volatility vs Market

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.

BATS-CHIXE:FCCE 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 13.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:FCCE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 7.5%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.889 (1 + (1- 25%) (177.93%))
1.721
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.72
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.721 * 7.46%)
13.37%

Discounted Cash Flow Calculation for BATS-CHIXE:FCCE 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BATS-CHIXE:FCCE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 13.37%)
2020 337.95 Analyst x2 298.10
2021 458.38 Analyst x4 356.66
2022 595.00 Analyst x2 408.38
2023 548.00 Analyst x1 331.77
2024 519.83 Est @ -5.14% 277.61
2025 501.95 Est @ -3.44% 236.46
2026 490.67 Est @ -2.25% 203.89
2027 483.72 Est @ -1.41% 177.31
2028 479.70 Est @ -0.83% 155.10
2029 477.67 Est @ -0.42% 136.23
Present value of next 10 years cash flows €2,581.00
BATS-CHIXE:FCCE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €477.67 × (1 + 0.53%) ÷ (13.37% – 0.53%)
€3,740.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €3,740.95 ÷ (1 + 13.37%)10
€1,066.94
BATS-CHIXE:FCCE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,581.00 + €1,066.94
€3,647.94
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €3,647.94 / 391.01
€9.33
BATS-CHIXE:FCCE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:FCCE represents 0.97161x of BME:FCC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97161x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 9.33 x 0.97161
€9.06
Value per share (EUR) From above. €9.06
Current discount Discount to share price of €7.53
= -1 x (€7.53 - €9.06) / €9.06
16.9%

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
17%
Share price is €7.53 vs Future cash flow value of €9.06
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
BATS-CHIXE:FCCE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.69
BME:FCC Share Price ** BME (2020-04-08) in EUR €7.75
United Kingdom of Great Britain and Northern Ireland Construction Industry PE Ratio Median Figure of 17 Publicly-Listed Construction Companies 7.77x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 13.27x

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

** Primary Listing of Fomento de Construcciones y Contratas.

BATS-CHIXE:FCCE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.75 ÷ 0.69

11.19x

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

  • Fomento de Construcciones y Contratas is overvalued based on earnings compared to the GB Construction industry average.
  • Fomento de Construcciones y Contratas is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Fomento de Construcciones y Contratas's expected growth come at a high price?
Raw Data
BATS-CHIXE:FCCE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
12.5%per year
United Kingdom of Great Britain and Northern Ireland Construction Industry PEG Ratio Median Figure of 9 Publicly-Listed Construction Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 513 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:FCCE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.19x ÷ 12.5%

0.89x

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 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
BATS-CHIXE:FCCE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €4.99
BME:FCC Share Price * BME (2020-04-08) in EUR €7.75
United Kingdom of Great Britain and Northern Ireland Construction Industry PB Ratio Median Figure of 19 Publicly-Listed Construction Companies 1.09x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.13x
BATS-CHIXE:FCCE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.75 ÷ 4.99

1.55x

* 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 overvalued based on assets compared to the GB 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 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 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
12.5%
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 0.5%.
Growth vs Market Checks
  • Fomento de Construcciones y Contratas's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Fomento de Construcciones y Contratas's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:FCCE Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:FCCE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 12.5%
BATS-CHIXE:FCCE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.9%
United Kingdom of Great Britain and Northern Ireland Construction Industry Earnings Growth Rate Market Cap Weighted Average 16%
United Kingdom of Great Britain and Northern Ireland Construction Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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
BATS-CHIXE:FCCE 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.
BATS-CHIXE:FCCE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 7,303 981 464 1
2022-12-31 6,945 925 392 3
2021-12-31 6,633 822 357 6
2020-12-31 6,329 739 313 3
2020-04-09
BATS-CHIXE:FCCE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 6,411 631 267
2019-09-30 6,425 511 309
2019-06-30 6,336 566 229
2019-03-31 6,266 274
2018-12-31 6,101 489 252
2018-09-30 6,180 141
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fomento de Construcciones y Contratas's earnings are expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
  • Fomento de Construcciones y Contratas's revenue is expected to grow by 2.9% 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
BATS-CHIXE:FCCE 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.

BATS-CHIXE:FCCE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 1.04 1.08 0.99 2.00
2021-12-31 0.94 1.00 0.90 4.00
2020-12-31 0.79 0.80 0.78 3.00
2020-04-09
BATS-CHIXE:FCCE Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.69
2019-09-30 0.78
2019-06-30 0.60
2019-03-31 0.72
2018-12-31 0.66
2018-09-30 0.47
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

*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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.

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 is less than its 5-year average (6% vs 69.6%)
  • Fomento de Construcciones y Contratas's earnings growth has not exceeded the GB Construction industry average in the past year (6% vs 6.6%).
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.

BATS-CHIXE:FCCE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 6,411.33 266.70 1,925.73
2019-09-30 6,425.19 308.63 1,910.22
2019-06-30 6,335.86 228.85 1,897.99
2019-03-31 6,266.05 273.67 1,864.80
2018-12-31 6,100.73 251.57 1,864.80
2018-09-30 6,179.70 140.51 3,161.97
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

*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 less efficiently than the GB Construction industry average last year based on Return on Assets.
  • Fomento de Construcciones y Contratas has 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 2/6, 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 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 not covered by short term assets, assets are 0.8x 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.

BATS-CHIXE:FCCE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,473.76 4,907.49 1,376.78
2019-09-30 2,230.36 4,058.10 1,235.55
2019-06-30 2,124.77 4,072.50 1,282.18
2019-03-31 2,181.40 4,202.50 1,397.50
2018-12-31 1,958.78 4,069.32 1,403.73
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 4,903.36 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 5,000.62 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 6,952.61 1,576.19
2015-09-30 515.60 7,048.10 1,330.60
2015-06-30 513.07 6,890.46 1,131.83
2015-03-31 515.50 7,029.20 1,377.80
2014-12-31 495.42 6,855.22 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 7,242.32 1,383.95
2013-09-30 948.60 7,772.00 1,194.70
2013-06-30 799.24 7,644.33 1,233.45
  • Fomento de Construcciones y Contratas's level of debt (198.4%) 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 (1383.3% vs 198.4% today).
  • Debt is not well covered by operating cash flow (12.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.8x 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.

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
5.16%
Current annual income from Fomento de Construcciones y Contratas dividends. Estimated to be 5.69% next year.
If you bought €2,000 of Fomento de Construcciones y Contratas shares you are expected to receive €103 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?
  • Fomento de Construcciones y Contratas's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.49%).
  • Fomento de Construcciones y Contratas's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (6.84%).
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
BATS-CHIXE:FCCE 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
United Kingdom of Great Britain and Northern Ireland Construction Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 575 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.8%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:FCCE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.60 2.00
2021-12-31 0.44 5.00
2020-12-31 0.34 3.00
2020-04-09
BATS-CHIXE:FCCE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.400 3.725
2019-02-27 0.400 3.403
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
2011-07-28 1.300 7.084
2011-07-15 1.300 6.870
2011-05-06 1.430 7.007
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

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 Fomento de Construcciones y Contratas's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
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 1.3%) - 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 3/6, 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 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 Colio Abril
AGE 51
TENURE AS CEO 2.6 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 United Kingdom of Great Britain and Northern Ireland.
Management Team

Esther Alcocer Koplowitz

TITLE
Chairwoman & Member of Executive Committee
COMPENSATION
€62K
AGE
49

Alejandro Aboumrad Gonzalez

TITLE
Chairman of Executive Committee & Propietary Director
COMPENSATION
€328K
AGE
39

Gerardo Kuri Kaufmann

TITLE
Executive Director & Member of Executive Committee
COMPENSATION
€46K
AGE
35

Juan Rodriguez Torres

TITLE
Proprietary Director & Member of Executive Committee
COMPENSATION
€15K
AGE
80

Felipe Bernabé García Pérez

TITLE
General Secretary

Pablo Colio Abril

TITLE
CEO, MD
AGE
51
TENURE
2.6 yrs

Miguel Angel Martinez Parra

TITLE
General Manager of Administration & Finance

Alicia Alcocer Koplowitz

TITLE
Propietary Director & Member of Executive Committee
COMPENSATION
€63K
AGE
48

José Cerro Redondo

TITLE
Head of Legal Services

Julio Pastor Bayón

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

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

5.3
Average Tenure
51
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
AGE
49
TENURE
7.3 yrs

Esther Koplowitz Romero de Juseu

TITLE
First Vice Chairwoman
COMPENSATION
€25K
AGE
69

Alejandro Aboumrad Gonzalez

TITLE
Chairman of Executive Committee & Propietary Director
COMPENSATION
€328K
AGE
39
TENURE
5.3 yrs

Gerardo Kuri Kaufmann

TITLE
Executive Director & Member of Executive Committee
COMPENSATION
€46K
AGE
35
TENURE
5.3 yrs

Juan Rodriguez Torres

TITLE
Proprietary Director & Member of Executive Committee
COMPENSATION
€15K
AGE
80
TENURE
4.8 yrs

Pablo Colio Abril

TITLE
CEO, MD
AGE
51
TENURE
2.6 yrs

Alicia Alcocer Koplowitz

TITLE
Propietary Director & Member of Executive Committee
COMPENSATION
€63K
AGE
48
TENURE
21.1 yrs

Ignacio Bayón Mariné

TITLE
Chairman of Realia Business
AGE
75

Eduardo González Gómez

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

José Luis Sáenz de Miera Alonso

TITLE
Chairman & CEO of Cementos Portland Valderrivas
AGE
72
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Jun 19 Buy Juan Rodriguez Torres Individual 17. Jun 19 17. Jun 19 9,821 €0.64 €6,285
02. Sep 19 Buy Gerardo Kuri Kaufmann Individual 28. Aug 19 28. Aug 19 4,535 €10.74 €48,706
27. Aug 19 Buy Gerardo Kuri Kaufmann Individual 26. Aug 19 26. Aug 19 5,000 €11.00 €55,000
20. Jun 19 Buy Gerardo Kuri Kaufmann Individual 19. Jun 19 19. Jun 19 491 €0.01 €5
25. Jun 19 Buy Alejandro Aboumrad Gonzalez Individual 17. Jun 19 17. Jun 19 1,035 €0.64 €662
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.

News

Simply Wall St News

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 Europe and internationally. The company offers services related with urban sanitation, the treatment of industrial waste, and waste recycling. It also provides services related with the end-to-end water cycle, including capturing, drinkability, and distribution of water for human consumption; capturing, filtration, and purification of wastewater; and design, construction, operation, and maintenance of water infrastructures for municipal, industrial, agricultural services, etc. In addition, the company undertakes infrastructure works and building construction, such as motorways, highways, roads, tunnels, bridges, hydraulic works, ports, airports, residential complexes, homes, non-residential building constructions, lighting, industrial hot and cold facilities, environmental restoration, etc. Further, it is involved in the operation of mines and mineral sites; manufacture of cement, limestone, plaster, and derivate pre-manufactured products; and production of 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.
FCCE
Exchange: BATS-CHIXE
Founded: 1900
€3,030,358,414
391,013,989
Website: http://www.fcc.es/es/
Address: Fomento de Construcciones y Contratas, S.A.
Avda. 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
55,321
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: 2020/04/09 19:43
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/03/13
Last earnings filing: 2020/02/28
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.