Ferrovial SE

FER

Engineering & Construction · Industrials

Price

$63.59

-0.07 (-0.11%)

Market Cap

$45.82B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−1.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 731.8M (2021) → 720.0M (2025)

Ferrovial SE, together with its subsidiaries, engages in the design, construction, financing, operation, and maintenance of transport infrastructure and urban services internationally. It operates through four segments: Construction, Toll Roads, Airports, and Energy Infrastructures and Mobility. The company designs and executes various public and private works, including the construction of public infrastructure; and develops, finances, and operates toll roads. It also develops, finances, and op

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-85.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

36.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$4.2B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Ferrovial SE is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

7.8%

Modest — 7.8% operating margin

ROCE

1.3%

Weak — 1.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+4.0%

Slow sales growth (4.0% YoY)

EPS YoY

+28.3%

Earnings growing fast (28.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

68%

Modest — 68% of profit becomes cash

FCF Margin

9.6%

Modest free cash flow (9.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

1.76

Elevated debt (1.76)

Interest Cover

10.66x

Comfortably covers interest (10.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

21.3x

Growth-priced — P/E 21.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

-26.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

1.99%

Small dividend — 1.99% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+25.7%

Dividend growing fast (25.7% YoY)

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