Técnicas Reunidas, S.A (0MKT) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Técnicas Reunidas, S.A €12.06, price €26.61, upside -54.7%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range €5.32 – €36.97 · fair‑value band €11.62 – €15.07 · the €26.61 price screens above the €12.06 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Técnicas Reunidas, S.A., an engineering and construction company, designs and manages industrial plant projects worldwide. It operates through Upstream & Refining, Natural gas, Petrochemical, Low-carbon technologies, and Other segments.
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Técnicas Reunidas, S.A., an engineering and construction company, designs and manages industrial plant projects worldwide. It operates through Upstream & Refining, Natural gas, Petrochemical, Low-carbon technologies, and Other segments. The Refining segment offers management, engineering, procurement, construction and commissioning services for facilities along the entire value chain to produce fuels. The Natural gas segment provides direction, management, engineering, procurement, construction and commissioning services for facilities throughout the supply chain, from natural gas production to regasification terminals; and treatment and processing plants, compressor and liquefaction stations, storage tanks, and final regasification facilities. The Petrochemical segment provides direction, management, engineering, procurement, construction and startup services for facilities dedicated to the production of basic chemical materials used in water distribution, pharmaceuticals, health, food, energy efficiency in buildings and transport systems, and others. The Low-carbon technologies segment offers hydrogen, carbon capture and storage, circular economy and bioproducts; produces biomethane and converts biomass and waste into fuels, biodiesel, biokerosene, chemicals, and power and steam generation. The Other segment offers water treatment, port infrastructures, and oil production. In addition, the company is involved in real estate-related activities, consultancy and assistance in international engineering projects, project execution, and machinery wholesale business. Técnicas Reunidas, S.A. was formerly known as Lummus Española, S.A. and changed its name to Técnicas Reunidas, S.A. in 1972. The company was incorporated in 1960 and is headquartered in Madrid, Spain.
Stock analysis
Técnicas Reunidas, S.A (0MKT) currently trades at €26.61, while our model-based Fair Value estimate is €12.06, 54.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €41.09 per share, and 9 of the 23 models we run sit above the €26.61 price.
Bear case: the Earnings-Based group reads lowest at €5.38, and 14 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: €11.62 (bear) to €15.07 (bull), the price of €26.61 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 51/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Técnicas Reunidas, S.A reported revenue of €3.5B in FY2020 versus €4.8B in FY2016, a compound −7.4%/yr. Reported net income was €11.0M in FY2020, compounding −45.9%/yr from FY2016.
Key figures
Market cap €454M · P/S ratio 0.07 · Net margin 0.3% · Return on equity 23.6% · Return on assets (EBIT) 2.4% · Operating margin 4.8% · Revenue (TTM) €6.7B · Revenue growth (YoY) +21.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −55%, 0MKT screens richer than that median.
Fair Value models
Bear €11.62Fair Value €12.06Bull €15.07
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.
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.38/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−25.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.4%
’16
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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.
4.0% (2016) → 1.2% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
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Is Técnicas Reunidas, S.A (0MKT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €12.06 versus a price of €26.61, about −55% upside (overvalued).
What is the fair value of 0MKT?
Our model-based fair value for Técnicas Reunidas, S.A is €12.06 (as of Sep 24, 2026), built from audited fundamentals. The current price: €26.61.
What is the quality score of 0MKT?
Técnicas Reunidas, S.A has a Quality Score of 51/100. 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 Técnicas Reunidas, S.A (0MKT)?
Our model-based price target is the fair value of €12.06 (as of Sep 24, 2026) from 23 valuation models. Cautious scenario €11.62, optimistic scenario €15.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Técnicas Reunidas, S.A stock forecast for 2026?
Our models put fair value at €12.06, about −55% upside versus a price of €26.61 (overvalued). Cautious scenario €11.62, optimistic scenario €15.07. The calculation is refreshed regularly with new filings.
What is the revenue of Técnicas Reunidas, S.A (0MKT)?
Técnicas Reunidas, S.A reported trailing-twelve-month revenue of about €6.7B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Técnicas Reunidas, S.A (0MKT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Técnicas Reunidas, S.A it is €12.06 per share (as of Sep 24, 2026), against a price of €26.61. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Técnicas Reunidas, S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0MKT trades above its calculated fair value: price €26.61, fair value €12.06, a gap of about −55% (overvalued). 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 0MKT?
No. The price is what the market pays today (€26.61); the fair value is what the company's own numbers justify (€12.06). For Técnicas Reunidas, S.A the two are €14.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is Técnicas Reunidas, S.A worth?
The market values Técnicas Reunidas, S.A at about €454M (market capitalisation, as of Sep 24, 2026). Per share that is €26.61; our models calculate a fair value of €12.06 per share.
What do the bullish and bearish scenarios say about 0MKT?
Our models span a range for Técnicas Reunidas, S.A: cautious scenario €11.62, base €12.06, optimistic €15.07 per share (as of Sep 24, 2026, price €26.61). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0MKT from its 52-week high?
Técnicas Reunidas, S.A trades at €26.61, about 28% below its 52-week high of €36.97 and 9% above the low of €24.38 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €12.06 is for.
Which stocks are comparable to Técnicas Reunidas, S.A?
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 Técnicas Reunidas, S.A stock attractive at the current price?
The data as of Sep 24, 2026: price €26.61, calculated fair value €12.06 (−55%), Quality Score 51/100, 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 0MKT calculated?
We run Técnicas Reunidas, S.A 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 €12.06, 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. Técnicas Reunidas, S.A itself currently trades above fair value. 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 Técnicas Reunidas, S.A (0MKT)?
The closing price on Oct 2, 2026 was €26.61. Our model-based fair value is €12.06, about −55% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Técnicas Reunidas, S.A right now?
The price sits above even our optimistic bull case (€15.07). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Técnicas Reunidas, S.A
How large is the market capitalisation of Técnicas Reunidas, S.A (0MKT)?
The market capitalisation of Técnicas Reunidas, S.A is €454M. 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 Técnicas Reunidas, S.A (0MKT)?
The price-to-sales ratio of Técnicas Reunidas, S.A is 0.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Técnicas Reunidas, S.A (0MKT)?
The net margin of Técnicas Reunidas, S.A is 0.3% (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 Técnicas Reunidas, S.A (0MKT)?
The return on equity (ROE) of Técnicas Reunidas, S.A is 23.6% (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 Técnicas Reunidas, S.A (0MKT)?
On an EBIT basis the return on assets of Técnicas Reunidas, S.A is 2.4% (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 Técnicas Reunidas, S.A (0MKT)?
The operating margin of Técnicas Reunidas, S.A is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Técnicas Reunidas, S.A (0MKT)?
Revenue at Técnicas Reunidas, S.A is growing +21.1% versus a year earlier (3y avg −11.4%). 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 Técnicas Reunidas, S.A (0MKT)?
Earnings per share at Técnicas Reunidas, S.A are growing +106% versus a year earlier. How much earnings per share grew versus a year earlier.
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