HOCHTIEF Aktiengesellschaft (HOT) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of HOCHTIEF Aktiengesellschaft stock €204, price €346, that is 41.1% below the price, quality 59 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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HOCHTIEF Aktiengesellschaft
HOT · XETRAOur calculation puts a fair price 41% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range €39.30 – €549.00 · fair‑value band €152.90 – €254.83 · the €346.40 price screens above the €203.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
HOCHTIEF engages in the construction business worldwide. It operates under Turner, CIMIC, Engineering and construction, and Abertis segment.
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The company provides solutions for large-scale building, civil engineering and industrial projects, including engineering, project management, supply chain, and procurement services to the execution of civil works and industrial and infrastructure maintenance services, as well as construction management services.
It also engages in the engineering and construction businesses for public and private clients; infrastructure investment activities; and industrial, energy, natural resources, and civil infrastructure business. HOCHTIEF was founded in 1873 and is headquartered in Essen, Germany.
HOCHTIEF is a subsidiary of ACS, Actividades de Construcción y Servicios, S.A.
Stock analysis
HOCHTIEF Aktiengesellschaft (HOT) currently trades at €346.40, while our model-based Fair Value estimate is €203.86, 41% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €330.45 per share, and 4 of the 24 models we run sit above the €346.40 price.
Bear case: the Economic Profit group reads lowest at €69.91, and 20 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €152.90 (bear) to €254.83 (bull), the price of €346.40 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
HOCHTIEF Aktiengesellschaft reported revenue of €38.2B in FY2025 versus €21.4B in FY2021, a compound +15.6%/yr. Reported net income was €902M in FY2025, compounding +32.4%/yr from FY2021.
Key figures
Market cap €26.1B Large · P/E ratio 29.3 · P/S ratio 0.73 · EPS (TTM) €11.81 · Dividend yield 1.9% · Net margin 2.2% · Return on equity 92.9% · Return on assets (EBIT) 4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at −41%, HOT screens richer than that median.
Fair Value models
All 24 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
HOT screens overvalued: fair value 41% below the price. Compare with Quanta Services, Inc →
Earlier news
- Hochtief to acquire German power transmission firm Autmatec
- Hochtief AG (HOCFF) (Q2 2026) Earnings Call Highlights: Record Orders and Raised Guidance ...
- HOCHTIEF's (ETR:HOT) Conservative Accounting Might Explain Soft Earnings
- HOCHTIEF Aktiengesellschaft (ETR:HOT) Released Earnings Last Week And Analysts Lifted Their Price Target To €414
Compare HOCHTIEF Aktiengesellschaft with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Engineering & Construction · 789 stocks
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Net margin by industry
- P/B ratio by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| China State Construction Engineering Corporation 601668 | ¥4.65 | ¥13.95 | +200% | vs HOT |
| Vinci SA DG | €112.95 | €186.68 | +65% | vs HOT |
| Comfort Systems USA, Inc FIX | $964.94 | $1,122 | +16% | vs HOT |
| EMCOR Group EME | $595.32 | $524.14 | −12% | vs HOT |
| ACS, Actividades de Construcción y Servicios, S.A ACS | €84.95 | €62.21 | −27% | vs HOT |
| Larsen & Toubro Limited LT | ₹4,050 | ₹2,302 | −43% | vs HOT |
| Samsung C&T Corporation 028260 | 290,500 KRW | 159,718 KRW | −45% | vs HOT |
| APi Group APG | $40.33 | $19.20 | −52% | vs HOT |
| Ferrovial N.V FER | $59.23 | $23.15 | −61% | vs HOT |
| Quanta Services, Inc PWR | $509.06 | $162.41 | −68% | vs HOT |
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Frequently asked questions
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Key figures of HOCHTIEF Aktiengesellschaft
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