Ferrovial N.V. (FER) Financials

No reported quarters yet.

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.24	—	—	$9.6B	—
FY24	—	$4.47	—	—	$9.1B	—
FY23	—	$0.46	—	—	$8.5B	—
FY22	—	$0.24	—	—	$7.6B	—
FY21	—	$1.63	—	—	$6.9B	—
FY20	—	-$0.58	—	—	$6.5B	—
FY19	—	$0.33	—	—	$6.1B	—
FY18	—	-$0.59	—	—	$5.7B	—
FY17	—	$0.6	—	—	$5.2B	—
FY16	—	$0.49	—	—	$10.8B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.8B	$5.2B	$5.7B	$6.1B	$6.5B	$6.9B	$7.6B	$8.5B	$9.1B	$9.6B
YoY change	+10.9%	-52.1%	+11.3%	+5.53%	+7.9%	+5.79%	+9.28%	+12.8%	+7.45%	+5.24%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.8B	5.2B	5.7B	6.1B	6.5B	6.9B	7.6B	8.5B	9.1B	9.6B
Cost of revenue	1.3B	818M	985M	949M	990M	1.1B	1.2B	1B	1.1B	1.1B
Gross profit	9.5B	4.3B	4.8B	5.1B	5.5B	5.8B	6.4B	7.5B	8B	8.5B
Gross margin	88.2%	84.1%	82.8%	84.3%	84.8%	84.3%	84.1%	87.7%	87.8%	88.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	360M	283M	254M	317M	276M	331M	449M	2.3B	2.5B	2.6B
Operating expenses	4.3B	2.6B	3B	3.7B	3.7B	3.7B	3.9B	6.5B	6.7B	7B
Operating income	601M	401M	352M	-59M	174M	339M	429M	591M	901M	967M
Operating margin	5.59%	7.78%	6.14%	-0.97%	2.66%	4.91%	5.68%	6.94%	9.85%	10%
Non-operating income, net	—	—	—	—	—	—	—	274M	3B	558M
Pretax income	617M	469M	481M	504M	-427M	966M	268M	610M	3.6B	1.1B
Income tax	233M	46M	24M	47M	-34M	-9M	30M	115M	145M	-60M
Net income	383M	507M	-391M	259M	-373M	1.3B	302M	511M	3.5B	1.1B
Net margin	3.56%	9.84%	-6.82%	4.28%	-5.71%	19.3%	4%	6%	38.2%	11.9%
EBITDA	1.1B	769M	795M	525M	57M	457M	985M	1.4B	1.7B	1.7B
EPS	0.49	0.6	-0.59	0.33	-0.58	1.63	0.24	0.46	4.47	1.24
Diluted EPS	0.49	0.6	-0.59	0.33	-0.58	1.63	0.24	0.46	4.47	1.24

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q4 25	Q1 26	Q2 26
Revenue	2.1B	2.3B	2.3B	2.2B	2.8B	2.8B	2.5B	2.1B	2.4B	2.7B	2.1B	2.6B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	-1.5B	500M	-110M	178.4M	273.3M	—	—	496M	-65M	1M	197M	294M
Operating margin	-70.7%	21.9%	-4.8%	8.09%	9.76%	—	—	24.1%	-2.7%	0.04%	9.39%	11.3%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	-1.5B	211M	263M	—	—	333.2M	2.8B	—	—	—	—	—
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	-1.5B	225M	237M	—	—	333.2M	2.7B	—	—	—	—	—
Net margin	-72.2%	9.86%	10.3%	—	—	11.9%	106.1%	—	—	—	—	—
EBITDA	-1.4B	500M	423M	178.4M	273.3M	—	—	496M	-65M	542M	197M	294M
EPS	—	—	—	—	—	0.39	—	—	—	—	—	—
Diluted EPS	—	—	—	—	—	0.39	—	—	—	—	—	—

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	13B	16.5B	14.2B	21.5B	20.2B	19.3B	17.5B	25.8B	30.4B	46.4B	46.4B
Enterprise value	17.9B	20.4B	18.5B	25.5B	23.6B	24.6B	24.3B	32.6B	37.2B	52.9B	52.9B
Shares outstanding	729.6M	731.4M	723M	720M	717.5M	703M	695.1M	728.3M	724.2M	718.7M	718.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	34	32.5	—	82.8	—	14.5	58	50.5	8.72	40.4	40.4
P/S	1.21	3.2	2.48	3.54	3.09	2.8	2.32	3.03	3.33	4.82	4.82
P/B	2.06	2.65	2.65	4.22	5.32	3.32	2.75	4.39	3.75	6.06	6.06
EV/EBITDA	16.8	26.6	23.3	48.5	413.9	53.9	24.6	23	21.3	31.2	31.2
EV/Sales	1.66	3.97	3.23	4.21	3.61	3.56	3.21	3.83	4.06	5.5	5.5
Earnings yield	2.94%	3.07%	—	1.21%	—	6.91%	1.73%	1.98%	11.5%	2.48%	2.48%
FCF yield	7.64%	6.94%	4.67%	4.55%	4.85%	3.55%	5.18%	4.56%	3.51%	3.74%	3.74%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	88.2%	84.1%	82.8%	84.3%	84.8%	84.3%	84.1%	87.7%	87.8%	88.3%	88.3%
Operating margin	5.59%	7.78%	6.14%	-0.97%	2.66%	4.91%	5.68%	6.94%	9.85%	10%	10%
Net margin	3.56%	9.84%	-6.82%	4.28%	-5.71%	19.3%	4%	6%	38.2%	11.9%	11.9%
ROE	6.07%	8.13%	-7.29%	5.09%	-9.84%	22.9%	4.75%	8.69%	43%	15%	15%
ROA	1.64%	2.21%	-1.71%	1.07%	-1.62%	5.37%	1.15%	1.94%	12%	4.19%	4.19%
ROIC	3.35%	3.55%	3.45%	-0.59%	2.41%	3.05%	2.9%	3.78%	5.83%	6.83%	6.83%
Return on tangible assets	2.12%	2.82%	-1.78%	1.1%	-1.66%	5.62%	1.2%	2.03%	12.6%	4.37%	4.37%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.39	1.38	1.47	1.36	1.46	1.38	1.38	1.21	1.22	1.13	1.13
Quick ratio	1.3	1.27	1.39	1.28	1.37	1.32	1.29	1.13	1.14	1.05	1.05
Debt / equity	1.33	1.37	1.55	1.72	2.62	1.85	1.86	1.97	1.42	1.4	1.4
Debt / assets	0.36	0.37	0.36	0.36	0.43	0.43	0.45	0.44	0.4	0.39	0.39
Net debt / EBITDA	4.55	5.14	5.45	7.68	60.2	11.6	6.88	4.8	3.85	3.82	3.82
Interest coverage	2.52	2.58	2.64	2.5	-0.38	4.49	1.76	2.31	8.59	3.44	3.44
Effective tax rate	37.8%	9.81%	4.99%	9.33%	0%	0%	11.2%	18.9%	4%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.7	7.05	7.93	8.41	9.1	9.83	10.9	11.7	12.6	13.4	13.4
EPS (basic)	0.49	0.6	-0.59	0.33	-0.58	1.63	0.24	0.46	4.47	1.24	1.24
EPS (diluted)	0.49	0.6	-0.59	0.33	-0.58	1.63	0.24	0.46	4.47	1.24	1.24
Book value per share	8.65	8.52	7.42	7.07	5.28	8.29	9.14	8.07	11.2	10.7	10.7
FCF per share	1.36	1.57	0.92	1.36	1.36	0.98	1.3	1.62	1.47	2.42	2.42
Cash per share	4.84	6.29	5.53	6.57	9.05	7.82	7.28	6.53	6.64	5.9	5.9
Capex per share	0.24	0.18	0.25	0.28	0.16	0.18	0.14	0.12	0.31	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.65%	2.62%	3.17%	3.34%	1.78%	1.79%	1.26%	1.01%	2.47%	—	—
Capex / operating cash flow	23.1%	13.1%	25%	19.4%	143.2%	8.24%	15.9%	6.93%	5.97%	—	—
Payout ratio	59%	43%	-61.4%	91.9%	-32.7%	2.32%	43.7%	26.6%	3.72%	13.6%	13.6%
Dividend yield	1.74%	1.32%	1.69%	1.11%	0.61%	0.16%	0.75%	0.53%	0.43%	0.34%	0.34%

Yield

—

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.6484

ex-dividend May 19, 2026

Payout ratio

14%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
May 19, 2026	$0.6484
Dec 5, 2025	$0.0889
Oct 27, 2025	$0.5534
May 23, 2025	$0.3181
Dec 16, 2024	$0.0363
Nov 7, 2024	$0.4913
May 20, 2024	$0.3299

Split history

Date	Ratio
Nov 4, 2014	1024:1000
Jul 2, 2014	1018:1000

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q4 25	Q1 26	Q2 26
Revenue	$2.1B	$2.3B	$2.3B	$2.2B	$2.8B	$2.8B	$2.5B	$2.1B	$2.4B	$2.7B	$2.1B	$2.6B
YoY change	—	+15.1%	+8.93%	+22.2%	+31.2%	+23.1%	+9.2%	-6.64%	-14%	+8.47%	+1.89%	+8.01%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.5B	4.6B	4B	4.7B	6.5B	5.5B	5.1B	4.8B	4.8B	4.2B
Receivables	2.2B	2B	801M	891M	1B	1.1B	1.3B	1.4B	1.6B	1.8B
Inventory	516M	629M	594M	700M	699M	404M	476M	458M	492M	540M
Total current assets	7.7B	8.1B	10.8B	11.8B	12.3B	9B	7.4B	7B	7.7B	7.3B
Property, plant & equipment	731M	694M	251M	366M	677M	463M	980M	707M	930M	1.2B
Goodwill & intangibles	5.4B	5B	808M	622M	632M	1.1B	1.2B	1.2B	1.3B	1.1B
Total assets	23.4B	23B	22.8B	24.1B	23.1B	24.9B	26.3B	26.3B	29B	27.4B
Accounts payable	2.3B	2.3B	1.3B	1.3B	1.4B	1.5B	1.7B	1.7B	1.8B	1.8B
Short-term debt	302M	839M	772M	1.1B	1.7B	1.2B	941M	1B	1.3B	1.2B
Total current liabilities	5.6B	5.8B	7.3B	8.6B	8.4B	6.5B	5.4B	5.8B	6.3B	6.5B
Long-term debt	8.1B	7.7B	7.6B	7.7B	8.2B	9.6B	10.9B	10.6B	10.3B	9.6B
Total liabilities	17.1B	16.8B	17.4B	19B	19.3B	19.1B	20B	20.4B	20.9B	19.8B
Shareholders' equity	6.3B	6.2B	5.4B	5.1B	3.8B	5.8B	6.4B	5.9B	8.1B	7.7B
Total debt	8.4B	8.5B	8.3B	8.8B	9.9B	10.8B	11.8B	11.6B	11.5B	10.7B
Net debt	4.9B	4B	4.3B	4B	3.4B	5.3B	6.8B	6.8B	6.7B	6.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 21	Q2 22	Q3 22	Q4 22	Q2 23	Q3 23	Q4 23	Q2 24	Q4 24	Q2 25	Q4 25	Q2 26
Cash & short-term investments	5.5B	5B	5B	5.1B	4.7B	4.7B	4.8B	4.3B	4.8B	2.8B	4.2B	3.9B
Receivables	1.1B	1.2B	1.2B	1.3B	1.4B	1.4B	1.4B	1.9B	1.6B	1.7B	1.8B	1.8B
Inventory	404M	446M	446M	476M	475M	475M	458M	561.9M	492M	494M	540M	595M
Total current assets	9B	8.2B	8.2B	7.4B	7.3B	7.3B	7B	7.4B	7.7B	5.6B	7.3B	6.8B
Property, plant & equipment	463M	538M	538M	980M	687M	687M	707M	967.8M	930M	1.1B	1.2B	1.4B
Goodwill & intangibles	1.1B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.5B	1.3B	1.2B	1.1B	1.1B
Total assets	24.9B	25.6B	25.6B	26.3B	25.7B	25.7B	26.3B	31.2B	29B	26.6B	27.4B	27.2B
Accounts payable	1.5B	1.6B	1.6B	1.7B	1.8B	1.8B	1.7B	2.1B	1.8B	1.7B	1.8B	1.8B
Short-term debt	1.2B	1.3B	1.3B	941M	936M	936M	1B	2.2B	1.3B	1.3B	1.2B	381M
Total current liabilities	6.5B	6.5B	6.5B	5.4B	5.8B	5.8B	5.8B	8B	6.3B	6B	6.5B	5.7B
Long-term debt	9.6B	10.2B	10.2B	10.9B	10.5B	10.5B	10.6B	11.7B	10.3B	9B	9.6B	10.3B
Total liabilities	19.1B	19.5B	19.5B	20B	20B	20B	20.4B	24.5B	20.9B	18.9B	19.8B	19.8B
Shareholders' equity	5.8B	6B	6B	6.4B	5.7B	5.7B	5.9B	6.8B	8.1B	7.7B	7.7B	7.4B
Total debt	10.8B	11.5B	11.5B	11.8B	11.4B	11.4B	11.6B	14B	11.5B	10.3B	10.7B	10.7B
Net debt	5.3B	6.5B	6.5B	6.8B	6.8B	6.8B	6.8B	9.7B	6.7B	7.5B	6.5B	6.8B

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	376M	454M	-448M	650M	-424M	1.2B	185M	341M	3.2B	888M
Depreciation & amortization	—	—	—	—	—	—	—	401M	441M	490M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—
Operating cash flow	767M	1B	728M	1B	81M	1.5B	596M	1.2B	3.8B	1.9B
Capital expenditure	-177M	-135M	-182M	-202M	-116M	-124M	-95M	-86M	-226M	—
Investing cash flow	-213M	47M	-189M	-280M	638M	1.6B	30M	-342M	1.3B	-382M
Dividends paid	-226M	-218M	-240M	-238M	-122M	-31M	-132M	-136M	-130M	-156M
Share repurchases	-317M	-302M	-280M	-282M	-256M	-432M	-446M	-114M	-973M	-501M
Financing cash flow	466M	643M	-380M	474M	926M	-1.5B	246M	-873M	-2.1B	-1B
Net change in cash	1B	1.7B	159M	1.2B	1.6B	1.6B	872M	26M	3B	516M
Free cash flow	995M	1.1B	663M	976M	977M	686M	907M	1.2B	1.1B	1.7B

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Ferrovial N.V. Financials

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement