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Ferrovial

BATS-CHIXE:FERE
Snowflake Description

Mediocre balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FERE
BATS-CHIXE
€17B
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Ferrovial, S.A., together with its subsidiaries, operates as an infrastructure operator and municipal services company worldwide. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
  • Ferrovial has significant price volatility in the past 3 months.
FERE Share Price and Events
7 Day Returns
10.1%
BATS-CHIXE:FERE
5.4%
GB Construction
1.7%
GB Market
1 Year Returns
10.7%
BATS-CHIXE:FERE
-30.5%
GB Construction
-21.8%
GB Market
FERE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ferrovial (FERE) 10.1% -6% -17.2% 10.7% 18.9% 10%
GB Construction 5.4% -14.8% -19.7% -30.5% -55.9% -54.8%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • FERE outperformed the Construction industry which returned -30.5% over the past year.
  • FERE outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.8% over the past year.
Price Volatility
FERE
Industry
5yr Volatility vs Market

FERE 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ferrovial.

BATS-CHIXE:FERE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
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:FERE
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 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.882 (1 + (1- 25%) (52.76%))
1.155
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.155 * 7.46%)
9.14%

Discounted Cash Flow Calculation for BATS-CHIXE:FERE 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.

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

BATS-CHIXE:FERE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.14%)
2020 444.08 Analyst x9 406.88
2021 516.95 Analyst x10 433.97
2022 893.80 Analyst x5 687.46
2023 752.00 Analyst x1 529.94
2024 669.69 Est @ -10.94% 432.40
2025 619.45 Est @ -7.5% 366.46
2026 587.90 Est @ -5.09% 318.66
2027 567.88 Est @ -3.41% 282.02
2028 555.25 Est @ -2.23% 252.64
2029 547.48 Est @ -1.4% 228.24
Present value of next 10 years cash flows €3,938.00
BATS-CHIXE:FERE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €547.48 × (1 + 0.53%) ÷ (9.14% – 0.53%)
€6,389.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €6,389.86 ÷ (1 + 9.14%)10
€2,663.90
BATS-CHIXE:FERE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €3,938.00 + €2,663.90
€6,601.90
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €6,601.90 / 731.94
€9.02
BATS-CHIXE:FERE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:FERE represents 1.021x of BME:FER
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.021x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 9.02 x 1.021
€9.21
Value per share (EUR) From above. €9.21
Current discount Discount to share price of €22.85
= -1 x (€22.85 - €9.21) / €9.21
-148.1%

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.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
BATS-CHIXE:FERE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.63
BME:FER Share Price ** BME (2020-04-07) in EUR €22.38
United Kingdom of Great Britain and Northern Ireland Construction Industry PE Ratio Median Figure of 17 Publicly-Listed Construction Companies 7.79x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

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

** Primary Listing of Ferrovial.

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

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

= 22.38 ÷ 0.63

35.75x

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

  • Ferrovial is overvalued based on earnings compared to the GB Construction industry average.
  • Ferrovial is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Ferrovial's expected growth come at a high price?
Raw Data
BATS-CHIXE:FERE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 35.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
7.1%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 518 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 35.75x ÷ 7.1%

5.03x

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?
Raw Data
BATS-CHIXE:FERE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €5.88
BME:FER Share Price * BME (2020-04-07) in EUR €22.38
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 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:FERE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 22.38 ÷ 5.88

3.81x

* 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 GB Construction industry average.
X
Value checks
We assess Ferrovial'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. 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.

FERE Future Performance

 How is Ferrovial expected to perform in the next 1 to 3 years based on estimates from 14 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
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ferrovial expected to grow at an attractive rate?
  • Ferrovial's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Ferrovial's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Ferrovial's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:FERE Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:FERE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 7.1%
BATS-CHIXE:FERE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 2%
United Kingdom of Great Britain and Northern Ireland Construction Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
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 15.6%
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:FERE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 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:FERE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 6,793 632 2
2023-12-31 6,585 1,183 574 2
2022-12-31 6,133 1,087 485 8
2021-12-31 5,978 945 424 14
2020-12-31 5,422 646 192 11
2020-04-08
BATS-CHIXE:FERE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 6,054 1,129 458
2019-09-30 5,728 52
2019-06-30 5,639 202 128
2019-03-31 5,819 170
2018-12-31 5,736 323 392
2018-09-30 1,838 249
2018-06-30 1,794 1,119 265
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ferrovial's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
  • Ferrovial's revenue is expected to grow by 2% 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:FERE 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 14 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.

BATS-CHIXE:FERE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.64 0.84 0.42 7.00
2021-12-31 0.57 0.70 0.35 12.00
2020-12-31 0.28 0.41 0.17 8.00
2020-04-08
BATS-CHIXE:FERE Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.63
2019-09-30
2019-06-30 0.19
2019-03-31
2018-12-31 0.54
2018-09-30 0.34
2018-06-30 0.36
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

*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.
  • Ferrovial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ferrovial'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.
Ferrovial has a total score of 1/6, 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.

FERE 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
Below we compare Ferrovial'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.
  • 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 (16.8% vs -20.4%)
  • Ferrovial's earnings growth has exceeded the GB Construction industry average in the past year (16.8% vs 6.6%).
Earnings and Revenue History
Ferrovial'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 Ferrovial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:FERE 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 6,054.00 458.00 1,340.00
2019-09-30 5,728.00 52.00 1,243.00
2019-06-30 5,639.00 128.00 1,264.00
2019-03-31 5,819.00 170.00 1,243.00
2018-12-31 5,736.00 392.00 1,243.00
2018-09-30 1,838.00 249.00 -629.00
2018-06-30 1,794.00 265.00 -697.00
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

*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 GB Construction industry average last year based on Return on Assets.
  • It is difficult to establish if Ferrovial 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 Ferrovial'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.
Ferrovial 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.

FERE 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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Ferrovial'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 1.4x 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 Ferrovial Company Filings, last reported 3 months ago.

BATS-CHIXE:FERE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,087.00 8,625.00 4,730.00
2019-09-30 4,980.00 8,987.00 4,047.00
2019-06-30 5,135.00 8,025.00 3,753.00
2019-03-31 5,259.00 8,112.00 4,169.00
2018-12-31 5,363.00 8,327.00 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
  • Ferrovial's level of debt (169.5%) 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 (169.8% vs 169.5% today).
  • Debt is not well covered by operating cash flow (13.1%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Ferrovial's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Ferrovial'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. Ferrovial 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.

FERE 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
Dividend payments
3.21%
Current annual income from Ferrovial dividends. Estimated to be 3.36% next year.
If you bought €2,000 of Ferrovial shares you are expected to receive €64 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?
  • Ferrovial's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.51%).
  • Ferrovial's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (6.87%).
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:FERE 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 14 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 588 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 6.9%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:FERE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.80 1.00
2023-12-31 0.79 1.00
2022-12-31 0.78 8.00
2021-12-31 0.76 16.00
2020-12-31 0.72 16.00
2020-04-08
BATS-CHIXE:FERE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-07 0.718 2.897
2019-02-28 0.718 3.421
2018-10-30 0.718 3.878
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
2013-07-25 1.250 9.123
2013-02-19 1.250 10.003
2011-10-27 0.500 5.276
2011-02-28 0.420 4.854
2011-02-23 0.420 4.818
2010-07-29 0.240 3.162
2010-01-15 0.400 6.180
2009-04-28 2.000 33.980

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 Ferrovial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Ferrovial'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 Ferrovial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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.

FERE Management

 What is the CEO of Ferrovial'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
Ignacio Madridejos Fernández
COMPENSATION €1,882,000
AGE 53
TENURE AS CEO 0.6 years
CEO Bio

Mr. Ignacio Madridejos Fernández has been a Chief Executive Officer and Executive Director of Ferrovial, S.A. since September 30, 2019. He had been the President of CEMEX USA at CEMEX, S.A.B. de C.V. since January 1, 2016 until 2019 and served as its President of Northern Europe until January 1, 2016. Mr. Madridejos Fernández is also responsible of the CEMEX's global Energy and Sustainability area. Mr. Madridejos Fernández joined CEMEX in 1996 and after holding management positions in the Strategic Planning area, he headed CEMEX operations in Egypt, Spain and Western Europe. He served as the President of CEMEX Spain from 2003 to 2007 and President of CEMEX Egypt for three years. He has also held various positions for CEMEX in Mexico, Colombia, Panama and Spain. Before he joined CEMEX, he served for McKinsey in Argentina and Agroman in Spain. He served as Chairman of the Egyptian subsidiary of Cemex. He serves as member of the board and chairman of the Agrupación de Fabricantes de Cemento de España, member of the board and chairman of the Instituto Español del Cemento and their applications, chairman of CEMA and honorary chairman of the Junior Achievement Foundation. He has been Non Executive Director of Readymix plc since February 27, 2008. He serves as member of the board of Directors of Comerciales de Materiales de Construcción S.L. In June 2010, he was appointed as vice-chairman and in June 2011, chairman of CEMBREAU, the European cement association. He served as Non-Executive Proprietary Director of CEMEX Latam Holdings, S.A. since October 04, 2012. Mr. Madridejos Fernández graduated with an MSc in Civil Engineering from the Polytechnic University of Madrid and holds an MBA from Stanford University.

CEO Compensation
  • Insufficient data for Ignacio to compare compensation growth.
  • Ignacio's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Ferrovial management team in years:

10.5
Average Tenure
56
Average Age
  • 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

TITLE
Chairman of the Board
COMPENSATION
€4M
AGE
61

Ignacio Madridejos Fernández

TITLE
CEO & Executive Director
COMPENSATION
€2M
AGE
53
TENURE
0.6 yrs

Ernesto López Mozo

TITLE
Chief Financial Officer
AGE
55
TENURE
10.5 yrs

Federico Flórez

TITLE
Chief Information & Innovation Officer
AGE
59
TENURE
12 yrs

Ricardo Jiménez

TITLE
Head of Investor Relations

Santiago Ortiz Vaamonde

TITLE
General Counsel & Secretary
AGE
57
TENURE
11.3 yrs

Pedro Montoya

TITLE
Director of Compliance & Risk
TENURE
0.6 yrs

Carlos Cerezo

TITLE
Chief Human Resources Officer
TENURE
0.3 yrs

María Teresa Pulido

TITLE
Director of Corporate Strategy

Alejandro de la Joya Ruiz de Velasco

TITLE
Chief Executive Officer of Cintra
AGE
52
TENURE
12.1 yrs
Board of Directors Tenure

Average tenure and age of the Ferrovial board of directors in years:

4.5
Average Tenure
61
Average Age
  • The tenure for the Ferrovial board of directors is about average.
Board of Directors

Ignacio Madridejos Fernández

TITLE
CEO & Executive Director
COMPENSATION
€2M
AGE
53
TENURE
0.6 yrs

José Fernando Sánchez-Junco Mans

TITLE
External Independent Director
COMPENSATION
€161K
AGE
71
TENURE
10.3 yrs

Rafael del Pino y Calvo-Sotelo

TITLE
Chairman of the Board
COMPENSATION
€4M
AGE
61
TENURE
20.3 yrs

Óscar Fanjul Martín

TITLE
Lead Director
COMPENSATION
€152K
AGE
70

María del Pino y Calvo-Sotelo

TITLE
External Proprietary Director
COMPENSATION
€144K
AGE
62
TENURE
13.6 yrs

Santiago Javier Fernández Valbuena

TITLE
External Independent Director
COMPENSATION
€160K
AGE
61
TENURE
11.9 yrs

Joaquín Del Pino y Calvo-Sotelo

TITLE
External Proprietary Director
COMPENSATION
€126K
AGE
58
TENURE
4.5 yrs

Philip Bowman

TITLE
External Independent Director
COMPENSATION
€131K
AGE
66
TENURE
3.8 yrs

Hanne Birgitte Breinbjerg Sørensen

TITLE
External Independent Director
COMPENSATION
€130K
AGE
54
TENURE
3 yrs

Bruno Di Leo

TITLE
External Independent Director
COMPENSATION
€126K
AGE
61
TENURE
1.8 yrs
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 (€)
03. Jan 20 Buy Rijn Capital BV Company 30. Dec 19 30. Dec 19 30,269 €26.74 €809,393
03. Jan 20 Sell Rafael del Pino y Calvo-Sotelo Individual 30. Dec 19 30. Dec 19 -30,269 €26.74 €-809,393
02. Jul 19 Buy Óscar Fanjul Martín Individual 27. Jun 19 27. Jun 19 2,000 €22.34 €44,680
28. Jun 19 Buy Óscar Fanjul Martín Individual 26. Jun 19 26. Jun 19 3,533 €22.50 €79,493
20. May 19 Buy Óscar Fanjul Martín Individual 13. May 19 13. May 19 1,217 €20.43 €24,863
X
Management checks
We assess Ferrovial'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. 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.

FERE News

Simply Wall St News

FERE Company Info

Description

Ferrovial, S.A., together with its subsidiaries, operates as an infrastructure operator and municipal services company worldwide. The company engages in the design and construction of various public and private work projects; and development, finance, and operation of toll road concessions. Its construction activities include tunnels, roads, and railways, as well as the repair and maintenance of roads; industrial, residential, and non-residential buildings; and dams, gas and oil pipelines, water treatment plants, canals, docks and port infrastructures, and hydroelectric plants. The company also develops, finances, and operates airports; and engages in the sale of real estate properties, including flats, retail units, and garages. Ferrovial, S.A. has a strategic agreement with Groupe Renault to extend an electric car sharing service to Paris. The company was founded in 1952 and is based in Madrid, Spain.

Details
Name: Ferrovial, S.A.
FERE
Exchange: BATS-CHIXE
Founded: 1952
€16,636,977,606
731,939,182
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
ETLX UFG Ordinary Shares Eurotlx IT EUR 27. Oct 2004
OTCPK FRRV.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
82,693
Ferrovial employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:05
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/02/27
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.