Fomento de Construcciones y Contratas SA (FCC) Fair Value & Analysis
Industrials · ES · Market cap €5.8B · ISIN ES0122060314
What is Fomento de Construcciones y Contratas SA really worth?
Below-average quality, currently priced close to our fair value of €9.99.
Strengths
Risks
Fair value as of: Aug 27, 2026
From 24 valuation models · updated 9 days ago
Fair value updated Aug 27, 2026, revised from €7.30 to €9.99 (+36.9%) since Aug 13, 2026. Share price −2.2% over the past month.
What runs behind every stock
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What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range €4.49 – €13.20 · fair‑value band €7.49 – €12.48 · the €10.92 price screens above the €9.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Fomento de Construcciones y Contratas SA (FCC) currently trades at €10.92, while our model-based Fair Value estimate is €9.99, implying the stock looks roughly 9.3% fairly valued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials sector. Bull case: the Growth DCF group reads highest at a median of €11.17 per share, and 10 of the 24 models we run sit above the €10.92 price. Bear case: the Earnings-Based group reads lowest at €4.55, and 14 of the 24 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Fomento de Construcciones y Contratas SA generated revenue of €10.0B at a net margin of 1.6%. Revenue grew 4.6% year over year. It earns a return on equity of 6.5%. Net debt stands at €3.0B. Fundamentals as of Aug 27, 2026
Our scenario range runs from €7.49 (bear case) to €12.48 (bull case); at €10.92, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 14% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −9%, FCC screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.2368 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth DCF (€11.17) versus Dividend Discount (€0.3500). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, provides environmental services in Europe and internationally. It operates through Environmental Services; Integrated Water Management; Construction; Concessions; Cement; and Real Estate segments.
Full company description
Fomento de Construcciones y Contratas, S.A., together with its subsidiaries, provides environmental services in Europe and internationally. It operates through Environmental Services; Integrated Water Management; Construction; Concessions; Cement; and Real Estate segments. The company offers municipal, waste treatment and resource recycling, and facility management services; and concessions and proprietary infrastructure for the entire cycle, BOT, operation and maintenance services, and irrigation, as well as technology and network activities, which include EPC contracts and industrial water treatment activities; design, planning, construction, and maintenance services. It also engages in developing, financing, managing, and operating social and transportation infrastructure concessions. The company was formerly known as Fomento de Obras y Construcciones S.A. and changed its name to Fomento de Construcciones y Contratas, S.A. in January 1992. Fomento de Construcciones y Contratas was founded in 1900 and is headquartered in Madrid, Spain. The company operates as a subsidiary of Control Empresarial de Capitales SA de CV.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fomento de Construcciones y Contratas SA reported revenue of €9.7B in FY2025 versus €6.7B in FY2021, a compound +9.9%/yr. Reported net income was €164M in FY2025, compounding −27.0%/yr from FY2021.
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Peer Group
Waste Management · 165 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Waste Management median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Waste Management, Inc WM | $217.76 | $128.02 | −41% |
| Republic Services, Inc RSG | $220.92 | $120.63 | −45% |
| Waste Connections, Inc WCN | C$230.52 | C$78.67 | −66% |
| Veolia Environnement SA VIE | €32.60 | €23.26 | −29% |
| Clean Harbors, Inc CLH | $311.81 | $154.01 | −51% |
| GFL Environmental Inc GFL | C$57.62 | C$44.27 | −23% |
| GEM Co 002340 | ¥6.67 | ¥5.27 | −21% |
| Zhejiang Weiming Environment Protection Co 603568 | ¥14.86 | ¥20.95 | +41% |
| Cleanaway Waste Management Limited CWY | A$2.60 | A$1.18 | −55% |
| Beijing GeoEnviron Engineering & Technology, Inc 603588 | ¥14.10 | ¥9.35 | −34% |
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