Tearsheet
Investment Highlights Market Valuation Price Chart Return vs. Risk About FER Interactive Breakdown Better Bets vs. FER Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Ferrovial (FER)

Market Price (10/31/2025): $62.64 | Market Cap: $45.6 Bil
Sector: Industrials | Industry: Construction & Engineering

Ferrovial (FER)

Market Price (10/31/2025): $62.64
Market Cap: $45.6 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Low stock price volatility
Vol 12M is 25%		 Trading close to highs
Dist 52W High is -3.4%		 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x
0 Low stock price volatility
Vol 12M is 25%
1 Trading close to highs
Dist 52W High is -3.4%
2 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 36x

Market Valuation & Key Metrics

FERS&P 500
REVENUE GROWTHGOOD
Rev LTM ($ Bil)8.8
Rev Chg Q11.9%6.4%
Rev Chg LTM11.1%5.4%
Rev Chg 3Y Avg11.1%5.3%
PROFITABILITYPOOR
Op Inc LTM ($ Bil)0.8
CFO LTM ($ Bil)�
Net Inc LTM ($ Bil)�
Op Mgn LTM8.8%18.7%
VALUATIONHIGH
P/S5.23.2
STABILITYGOOD
Debt/Equity0.260.21
Cash/Assets0.140.07

FER Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The 29.2% change in FER stock from 5/1/2025 to 10/30/2025 was primarily driven by a 0.0% change in the company's P/E Multiple.

501202510302025Change
Stock Price ($)48.4962.6729.24%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)8841.008841.000.00%
Net Income Margin (%)���
P/E Multiple���
Shares Outstanding (Mil)727.88727.880.00%
Cumulative Contribution�

LTM = Last Twelve Months as of date shown
The 61.2% change in FER stock from 10/30/2024 to 10/30/2025 was primarily driven by a 0.0% change in the company's P/E Multiple.

1030202410302025Change
Stock Price ($)38.8762.6761.22%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)8841.008841.000.00%
Net Income Margin (%)���
P/E Multiple���
Shares Outstanding (Mil)727.88727.880.00%
Cumulative Contribution�

LTM = Last Twelve Months as of date shown
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Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
FER Return----21%51%87%
Peers Return9%25%6%17%30%2%124%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
FER Win Rate---100%75%89% 
Peers Win Rate28%32%35%37%35%58% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
FER Max Drawdown----0%-4% 
Peers Max Drawdown-43%-5%-14%-8%-6%-31% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DY, FLR, GVA, FBGL, FGL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

FER has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

Unique KeyEventXLIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-22.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven29.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven273 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-42.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven74.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven232 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven32.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven312 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-63.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven172.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1463 days1480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -22.6% during the 2022 Inflation Shock from a high on 1/4/2022. A -22.6% loss requires a 29.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Ferrovial (FER)

Better Bets than Ferrovial (FER)

 FERBetter Performance than FER
MetricValueIndustry (Construction & Engineering)
Rev Chg LTM11.1%PWR (18.7%), FIX (27.7%), EME (14.3%), J (61.5%), STN (12.5%)
Op Mgn LTM8.8%FIX (13.4%), EME (9.4%), STRL (14.8%), TTEK (10.7%), IESC (10.9%)
 FERBetter Performance than FER
MetricValueAll Other Sectors
Rev Chg LTM11.1%NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AVGO (28.0%), META (21.3%)
Op Mgn LTM8.8%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
 Best Bets In Industrials Sector
 FERGATX VRSK ADT CPRT NDSN TDG PCTY FTV VRRM CSL
What You Pay           
P/E�17.832.911.726.528.839.336.828.173.311.4
P/EBIT36.18.522.55.624.219.519.127.813.721.712.6
What You Get           
Rev Chg Q11.9%11.3%5.9%6.8%5.2%12.1%9.3%12.2%2.3%16.1%-0.1%
Rev Chg LTM11.1%11.7%7.3%6.6%9.7%4.5%12.8%7.0%27.9%8.5%4.4%
Rev Chg 3Y Avg�9.8%13.4%2.6%9.9%3.6%18.2%22.7%9.4%9.1%5.2%
FCF/Rev 3Y Avg�38.6%33.2%24.1%23.7%21.5%20.8%20.5%20.1%19.0%18.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1Ferrovial Stock Up 12%, Buy Or Wait?Return

Trade Ideas

Select past ideas related to FER. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		4.4%4.4%-6.2%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.0%-6.0%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-12.9%-12.9%-12.9%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.2%-7.2%-7.2%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		31.9%31.9%-1.2%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		4.4%4.4%-6.2%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.0%-6.0%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-12.9%-12.9%-12.9%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.2%-7.2%-7.2%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		31.9%31.9%-1.2%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Ferrovial

Financials

FERDYFLRGVAFBGLFGLMedian
NameFerrovialDycom In.Fluor Granite .FBS Glob.Founder  
Mkt Price62.67286.3648.79102.820.610.3655.73
Mkt Cap45.68.38.14.5--8.2
Rev LTM8,8414,99316,3144,078--6,917
Op Inc LTM776381315217--348
FCF LTM-123243309--243
FCF 3Y Avg-44183139--139
CFO LTM-397350440--397
CFO 3Y Avg-284299268--284

Growth & Margins

FERDYFLRGVAFBGLFGLMedian
NameFerrovialDycom In.Fluor Granite .FBS Glob.Founder  
Rev Chg LTM11.1%12.6%3.6%7.2%--9.1%
Rev Chg 3Y Avg-13.0%6.4%6.9%--6.9%
Rev Chg Q11.9%14.5%-5.9%4.0%--7.9%
QoQ Delta Rev Chg LTM2.9%3.6%-1.5%1.1%--2.0%
Op Mgn LTM8.8%7.6%1.9%5.3%--6.5%
Op Mgn 3Y Avg-7.5%1.5%3.2%--3.2%
QoQ Delta Op Mgn LTM1.2%0.5%-0.7%0.3%--0.4%
CFO/Rev LTM-8.0%2.1%10.8%--8.0%
CFO/Rev 3Y Avg-6.2%1.9%6.8%--6.2%
FCF/Rev LTM-2.5%1.5%7.6%--2.5%
FCF/Rev 3Y Avg-0.9%1.1%3.4%--1.1%

Valuation

FERDYFLRGVAFBGLFGLMedian
NameFerrovialDycom In.Fluor Granite .FBS Glob.Founder  
Mkt Cap45.68.38.14.5--8.2
P/S5.21.70.51.1--1.4
P/EBIT36.120.317.916.4--19.1
P/E-31.81.928.4--28.4
P/CFO-20.923.010.2--20.9
Total Yield-3.1%51.4%3.8%--3.8%
Dividend Yield0.0%0.0%0.0%0.3%--0.0%
FCF Yield 3Y Avg-0.6%2.2%3.2%--2.2%
D/E0.30.10.10.2--0.2
Net D/E0.20.1-0.10.1--0.1

Returns

FERDYFLRGVAFBGLFGLMedian
NameFerrovialDycom In.Fluor Granite .FBS Glob.Founder  
1M Rtn7.7%-1.9%16.0%-6.2%-21.2%-22.3%-4.0%
3M Rtn23.6%6.5%-14.1%9.0%-4.4%-68.3%1.1%
6M Rtn29.2%65.5%36.4%29.9%-3.8%-72.7%29.6%
12M Rtn61.2%65.7%-8.1%26.0%--90.3%26.0%
3Y Rtn-142.3%61.2%213.5%--142.3%
1M Excs Rtn6.2%-3.5%12.2%-6.6%-20.9%-14.7%-5.0%
3M Excs Rtn14.0%-0.6%8.4%2.2%-10.0%-79.5%0.8%
6M Excs Rtn7.5%43.7%14.6%8.1%-25.5%-94.4%7.8%
12M Excs Rtn40.1%34.9%-26.2%8.7%--106.3%8.7%
3Y Excs Rtn-68.8%-7.6%198.1%--68.8%

Financials

$ Mil | FY: 12/312024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q32022Q22021Q42021Q32021Q2
Period End6/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/20226/30/202212/31/20219/30/20216/30/2021
Filing Date7/31/20245/14/20242/28/202410/31/20237/27/20235/11/20233/1/202310/27/20227/28/20222/24/202211/8/20217/28/2021
Key Financials Quarterly            
Total Revenue2,3881,8792,2932,2812,1351,8052,1051,912-2,1031,6721,770
Ebitda23315237750010694------
Operating Income233152-10950010694------
Net Income---52279---106242-1,29884-98
EPS��-0.070.38��-0.150.34�1.780.12-0.13
Key Financials TTM            
Total Revenue TTM8,8418,5888,5148,3267,957----6,9106,7036,730
Ebitda TTM1,2621,1351,077---------
Operating Income TTM776649591---------
Net Income TTM---------1,198-11-224
Growth Rates Quarterly            
Total Revenue Growth11.9%4.1%8.9%19.3%--14.2%25.9%8.0%-10.9%-1.6%16.8%
EBITDA Growth119.8%61.7%----------
Operating Income Growth119.8%61.7%----------
Net Income Growth--50.9%15.3%---226.2%346.9%-1358.4%165.1%64.1%
Margins Quarterly            
EBITDA Margin9.8%8.1%16.4%21.9%5.0%5.2%------
Operating Income Margin9.8%8.1%-4.8%21.9%5.0%5.2%------
Net Income Margin---2.3%12.2%---5.0%12.7%-61.7%5.0%-5.5%
Cash & Debt            
Total Cash3,639-4,7584,6564,656-5,0635,0315,0315,5005,3415,136
Total Debt11,912011,56511,44211,442011,83711,50211,50210,7839,2628,842
Net Debt / (Cash)8,273-6,8076,7866,786-6,7746,4716,4715,2833,9213,706
Cash Flows Quarterly            
FCF from Operations------------
Cash Flows TTM            
FCF from Operations TTM------------
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC8.0%--4.3%19.1%4.2%--1.4%7.2%-88.4%3.6%-17.6%
Return on Invested Capital (ROIC) TTM            
ROIC TTM6.6%-5.8%------18.3%-1.8%-9.3%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Construction6,8696,2806,0775,9845,413
Toll roads1,085780588439617
Other506466157235151
Energy20719125206,995
Airports80542119
Adjustments-233-220-166-127-146
Adjustments for discontinued operations    -6,995
Total8,5147,5516,9106,5326,054


Operating Income by Segment
$ Mil20242023202220212020
Toll roads6243881,392180772
Construction7769154101-365
Airports2-9-26-2314
Adjustments00-102
Energy-8-13-24090
Other-70-12-16-69-22
Adjustments for discontinued operations    -90
Total6254231,479189401


Net Income by Segment
$ Mil20242023202220212020
Toll roads422911,08971821
Construction47238548-310
Adjustments010-2-26
Energy-8-19-28-1827
Airports-910-279-458129
Other-11182331-66-159
Adjustments for discontinued operations    -214
Total3411881,198-425268


Price Behavior

FER Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta2.170.990.950.600.60-0.12
Up Beta2.600.800.990.600.520.01
Down Beta4.881.160.900.490.52-0.08
Up Capture190%141%101%84%79%11%
Bmk +ve Days13233574144420
Stock +ve Days13283670135207
Down Capture158%54%88%63%73%45%
Bmk -ve Days8192952107330
Stock -ve Days8142755115171

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity1,587,544
Short Interest: % Change Since 930202575.2%
Average Daily Volume1,154,498
Days-to-Cover Short Interest1.38
Basic Shares Quantity727,880,913
Short % of Basic Shares0.2%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
630202572920256-K 6/30/2025
12312024228202520-F 12/31/2024
630202473120246-K 6/30/2024

Insider Activity

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External Quote Links


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