| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 41 | 59.6x | 17.3x | Around median | |
Growth | 58 | 213.4% | 7.1% | Around median | |
Quality | 72 | 9.3% | 4.5% | Top tier | |
Safety | 51 | 2.8x | 2.6x | Around median | |
Capital Return | 77 | 0.80% | 0.06% | Top tier | |
Momentum | 19 | -12.2% | -1.6% | Bottom tier | |
Sentiment | 37 | 2 | 3 | Bottom tier |
The floor: what the company is worth if growth stopped today
73% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Ferrovial SE operates in transportation infrastructure and construction, deriving its cash flows from tolls, traffic, and revenue per transaction on managed lanes, airport operations, and construction contract execution. Its cited assets include 407 ETR in Canada; the NTE, LBJ, and NTE 35W corridors in Dallas–Fort Worth; the I-66 and I-77 highways; New Terminal One at JFK Airport; and Dalaman Airport. The company also recycles capital through concession project distributions and divestments; it received €378 million from project distributions and €96 million from divestments during the first half of fiscal 2026.
In fiscal 2025, revenue increased to $9.6 billion from $9.1 billion in fiscal 2024, or by approximately 5.5%, while net income declined to $1.1 billion from $3.5 billion, and earnings per share fell to 1.24 from 4.47. Compared with fiscal 2023, which recorded revenue of $8.5 billion and net income of $511 million, the company maintained annual revenue growth, but the volatility in net profit illustrates the impact of divestments and non-operating items; management explained that fiscal 2026 divestments were smaller than those in fiscal 2025.
The fiscal 2026 Q2 results showed an operating mix led by North American highways and construction. During the first half of fiscal 2026, 407 ETR revenue increased by 20.2% and adjusted EBITDA by 24.4%, while I-66 revenue grew by 17.9% and adjusted EBITDA by 20.4%. In construction, reported revenue rose by 7.1% and like-for-like revenue by 9.7%, while the adjusted operating margin remained stable at 3.5%, with a record order book of €18 billion at the end of June 2026, while Ferrovial ended the first half with net cash of €1.3 billion excluding infrastructure projects.
The average analyst price target is $70.93 with a “Neutral” consensus, while the highest and lowest targets are both $70.93, meaning the available estimate range provides no dispersion that can reliably measure differences in opinion. This target is approximately 5.2% below the 52-week range high of $74.79 and about 33.4% above its low of $53.175; no price-to-earnings ratio is available to serve as an additional anchor, while the fluctuation in net income between $3.5 billion in fiscal 2024 and $1.1 billion in fiscal 2025 warrants some valuation caution.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
407 ETR and U.S. highway assets led growth in the first half of fiscal 2026, with 407 ETR revenue increasing by 20.2% and adjusted EBITDA by 24.4%. At I-66, revenue increased by 17.9% and adjusted EBITDA by 20.4%, supported by growth in transactions and revenue per transaction. Like-for-like construction revenue also grew by 9.7%, while the adjusted operating margin remained stable at 3.5%.
407 ETR achieved revenue growth of 20.2% during the first half of fiscal 2026 after new tolls took effect on January 1, 2026, while traffic increased by 1.8%. The company increased adjusted EBITDA by 24.4%, also benefiting from the decline in the credit provision to C$5.5 million from C$45.2 million. The asset paid C$500 million in distributions during the first half and then approved C$550 million for distribution in fiscal 2026 Q3.
The project was approximately 92% complete by the end of the first half of fiscal 2026, with the remaining work concentrated on systems integration, testing, and commissioning. The remediation plan set March 2027 as the beneficial occupancy date for Phase A, compared with the previous date of June 2026. Airline commitments totaled 32, including 24 executed agreements and 8 letters of intent, while Ferrovial's total investment reached €1.041 billion after an additional €63 million contribution.
Automated analysis for informational purposes only — not investment advice.
Ferrovial ended the first half of fiscal 2026 with net cash of €1.3 billion when infrastructure projects are excluded. During the period, it collected €378 million from project distributions, €329 million from construction operating cash flow, and €96 million from divestments. In contrast, it spent €187 million on investments and €398 million on cash distributions and treasury-share purchases.
The first risk is the delay of New Terminal One at JFK to March 2027, with the possibility of disputes over responsibility for some delays despite contractor damages of $500,000 per day starting in July 2026. Passenger numbers at Dalaman also declined by 8.1%, and its adjusted EBITDA fell by 13.7% during the first half of fiscal 2026 due to the Middle East conflict. In highways, I-77 traffic declined by 5.2% and adjusted EBITDA by 5.4%, while 407 ETR traffic fell by 2.7% in fiscal 2026 Q2.