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HOCHTIEF Aktiengesellschaft (0EPW) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of HOCHTIEF Aktiengesellschaft €1,146, price €407, upside +181.5%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Industrials · GB · Home Germany · ISIN DE0006070006

HA Broad data Sep 23, 2026

HOCHTIEF Aktiengesellschaft

0EPW · LSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value €1,146 · Strongly undervalued (+181.5%)
!Quality 58/100
!Mixed Growth (revenue 3y +9.1 %/yr)
!Thin margins · 2.1% net margin (TTM)
!High debt
·13.4% dividend yield · Safety not assessed
!Moderate moat 49/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€552.50 €39.51 Fair Value €1,146 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €39.51 – €552.50 · fair‑value band €822.64 – €1,470 · the €407.30 price screens below the €1,146 fair value. Dashed = 300-day average. As of Sep 23, 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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HOCHTIEF engages in the construction business worldwide. It operates under Turner, CIMIC, Engineering and construction, and Abertis segment. 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 (0EPW) currently trades at €407.30, while our model-based Fair Value estimate is €1,146, implying the stock looks roughly 64.5% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €1,090 per share, and 18 of the 23 models we run sit above the €407.30 price.

Bear case: the Dividend Discount group reads lowest at €121.89, and 5 of the 23 models stay below the price. Evidence for this calculation is high.

Scenario range: €822.64 (bear) to €1,470 (bull), the price of €407.30 sits below 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 58/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

HOCHTIEF Aktiengesellschaft reported revenue of €23.0B in FY2020 versus €19.9B in FY2016, a compound +3.6%/yr. Reported net income was €427M in FY2020, compounding +7.5%/yr from FY2016.

Key figures

Market cap €4.9B · P/S ratio 0.13 · Dividend yield 13.4% · Net margin 1.9% · Return on equity 64.1% · Return on assets (EBIT) 5.1% · Operating margin 3.9% · Revenue (TTM) €38.7B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 26% below its 52-week high and 69% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −33% fair-value upside, at 181%, 0EPW screens cheaper than that median.

Fair Value models

Bear €822.64 Fair Value €1,146 Bull €1,470
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF €904.27 €1,193 €1,690 77
Growth DCF €932.84 €1,210 €1,654 76
EPV €623.38 €712.18 €788.80 74
All 23 models by family
DCF Models
FCF DCF €904.27 €1,193 €1,690 77
5Y Revenue Exit €776.72 €1,074 €1,490 70
5Y EBITDA Exit €919.87 €1,320 €1,828 72
5Y P/E Exit €682.85 €913.70 €1,178 69
10Y Revenue Exit €802.19 €1,067 €1,369 65
10Y EBITDA Exit €906.44 €1,226 €1,590 66
10Y P/E Exit €763.67 €962.76 €1,165 62
Earnings-Based
Graham-Dodd €240.45 €431.49 €531.86 64
EPV €623.38 €712.18 €788.80 74
Dividend Discount
Gordon GGM €94.58 €121.89 €149.02 67
DDM Multi-Stage €94.58 €127.11 €164.86 64
Multiples
P/E Multiple €556.92 €742.56 €928.20 63
P/S Multiple €450.84 €601.12 €751.40 58
P/B Multiple €187.04 €249.39 €311.73 55
EV/EBIT €1,021 €1,341 €1,661 66
EV/EBITDA €1,065 €1,400 €1,735 67
EV/Revenue €746.07 €1,040 €1,333 54
Asset-Based
NCAV (Graham) €27.71 €37.13 €55.42 54
Growth DCF
Growth DCF €932.84 €1,210 €1,654 76
Rev-Margin DCF €776.72 €1,090 €1,469 70
Economic Profit
Residual Income €161.03 €184.67 €295.62 72
ROIC Compounder €623.38 €712.18 €788.80 69
Growth Earnings
Growth-Adj P/E €393.26 €561.80 €730.34 65

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Quality Score breakdown

Overall quality 58/100

Of which business quality 56 · Market factors (momentum, volatility) 62

Profitability 62
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
3.2% (2016) → 4.0% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $642.51 $162.77 −75%
Vinci SA DG €105.60 €186.22 +76%
Comfort Systems USA, Inc FIX $1,658 $1,116 −33%
Larsen & Toubro Limited LT ₹3,876 ₹1,994 −49%
Samsung C&T Corporation 028260 367,000 KRW 159,718 KRW −56%
Ferrovial N.V FER $55.77 $21.74 −61%
EMCOR Group EME $769.03 $525.05 −32%
ACS, Actividades de Construcción y Servicios, S.A ACS €95.00 €62.20 −35%
Bouygues SA EN €43.14 €66.31 +54%
WSP Global Inc WSP C$182.05 C$200.26 +10%

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HOCHTIEF Aktiengesellschaft · Fair Value
€1,146 +64%Fair Value
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Cite: Fair Value Calculator (2026). "HOCHTIEF Aktiengesellschaft Fair Value". https://www.fairvalue-calculator.com/stock/0EPW

Frequently asked questions

Is HOCHTIEF Aktiengesellschaft (0EPW) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1,146 versus a price of €407.30, about +181% upside (undervalued).
What is the fair value of 0EPW?
Our model-based fair value for HOCHTIEF Aktiengesellschaft is €1,146 (as of Sep 23, 2026), built from audited fundamentals. The current price: €407.30.
What is the quality score of 0EPW?
HOCHTIEF Aktiengesellschaft has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for HOCHTIEF Aktiengesellschaft (0EPW)?
Our model-based price target is the fair value of €1,146 (as of Sep 23, 2026) from 23 valuation models. Cautious scenario €822.64, optimistic scenario €1,470. It is a calculation from audited fundamentals, not an analyst target.
What is the HOCHTIEF Aktiengesellschaft stock forecast for 2026?
Our models put fair value at €1,146, about +181% upside versus a price of €407.30 (undervalued). Cautious scenario €822.64, optimistic scenario €1,470. The calculation is refreshed regularly with new filings.
What is the revenue of HOCHTIEF Aktiengesellschaft (0EPW)?
HOCHTIEF Aktiengesellschaft reported trailing-twelve-month revenue of about €38.7B (latest available figure, as of Sep 23, 2026).
Does HOCHTIEF Aktiengesellschaft pay a dividend?
HOCHTIEF Aktiengesellschaft currently shows a dividend yield of about 13.37% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of HOCHTIEF Aktiengesellschaft (0EPW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HOCHTIEF Aktiengesellschaft it is €1,146 per share (as of Sep 23, 2026), against a price of €407.30. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is HOCHTIEF Aktiengesellschaft stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 0EPW trades below its calculated fair value: price €407.30, fair value €1,146, a gap of about +181% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0EPW?
No. The price is what the market pays today (€407.30); the fair value is what the company's own numbers justify (€1,146). For HOCHTIEF Aktiengesellschaft the two are €739.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is HOCHTIEF Aktiengesellschaft worth?
The market values HOCHTIEF Aktiengesellschaft at about €4.9B (market capitalisation, as of Sep 23, 2026). Per share that is €407.30; our models calculate a fair value of €1,146 per share.
What do the bullish and bearish scenarios say about 0EPW?
Our models span a range for HOCHTIEF Aktiengesellschaft: cautious scenario €822.64, base €1,146, optimistic €1,470 per share (as of Sep 23, 2026, price €407.30). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0EPW from its 52-week high?
HOCHTIEF Aktiengesellschaft trades at €407.30, about 26% below its 52-week high of €552.50 and 69% above the low of €241.49 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €1,146 is for.
Which stocks are comparable to HOCHTIEF Aktiengesellschaft?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is HOCHTIEF Aktiengesellschaft stock attractive at the current price?
The data as of Sep 23, 2026: price €407.30, calculated fair value €1,146 (+181%), Quality Score 58/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0EPW calculated?
We run HOCHTIEF Aktiengesellschaft through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €1,146, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. HOCHTIEF Aktiengesellschaft currently trades 64 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of HOCHTIEF Aktiengesellschaft (0EPW)?
The closing price on Oct 2, 2026 was €407.30. Our model-based fair value is €1,146, about +181% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HOCHTIEF Aktiengesellschaft right now?
The price is below even our cautious bear case (€822.64). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of HOCHTIEF Aktiengesellschaft

How large is the market capitalisation of HOCHTIEF Aktiengesellschaft (0EPW)?
The market capitalisation of HOCHTIEF Aktiengesellschaft is €4.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of HOCHTIEF Aktiengesellschaft (0EPW)?
The price-to-sales ratio of HOCHTIEF Aktiengesellschaft is 0.13 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of HOCHTIEF Aktiengesellschaft (0EPW)?
The dividend yield of HOCHTIEF Aktiengesellschaft is 13.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of HOCHTIEF Aktiengesellschaft (0EPW)?
The net margin of HOCHTIEF Aktiengesellschaft is 1.9% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of HOCHTIEF Aktiengesellschaft (0EPW)?
The return on equity (ROE) of HOCHTIEF Aktiengesellschaft is 64.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of HOCHTIEF Aktiengesellschaft (0EPW)?
On an EBIT basis the return on assets of HOCHTIEF Aktiengesellschaft is 5.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of HOCHTIEF Aktiengesellschaft (0EPW)?
The operating margin of HOCHTIEF Aktiengesellschaft is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HOCHTIEF Aktiengesellschaft (0EPW)?
Revenue at HOCHTIEF Aktiengesellschaft is growing +5.3% versus a year earlier (3y avg +0.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at HOCHTIEF Aktiengesellschaft (0EPW)?
Earnings per share at HOCHTIEF Aktiengesellschaft are growing −31.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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