Fomento de Construcciones y Contratas SA (FCC) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Fomento de Construcciones y Contratas SA €9.99, price €10.60, upside -5.7%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Fomento de Construcciones y Contratas SA for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range €4.69 – €12.78 · fair‑value band €7.02 – €12.48 · the €10.60 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 Sep 27, 2026.
Follow Fomento de Construcciones y Contratas in your weekly email
Every Wednesday you see whether Fomento de Construcciones y Contratas is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show more
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.
Stock analysis
Fomento de Construcciones y Contratas SA (FCC) currently trades at €10.60, while our model-based Fair Value estimate is €9.99, so the stock looks roughly fairly valued today (gap 6.1%).
Show more
Valuation
Bull case: the Growth DCF group reads highest at a median of €8.69 per share, and 4 of the 24 models we run sit above the €10.60 price.
Bear case: the Earnings-Based group reads lowest at €4.55, and 20 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: €7.02 (bear) to €12.48 (bull), the price of €10.60 sits inside 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 45/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap €5.0B · P/E ratio 24.1 · P/S ratio 0.41 · EPS (TTM) €0.4400 · Dividend yield 0.3% · Net margin 1.7% · Return on equity 8.6% · Return on assets (EBIT) 4.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
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 17% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −14% fair-value upside, at −6%, FCC screens cheaper than that median.
Fair Value models
Bear €7.02Fair Value €9.99Bull €12.48
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.3291 per share) are deliberately not added.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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.9%
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.
+8.0%
Revenue growth 5 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.
+9.5%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 25 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.
−15.9%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−1.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.5%
Dividend (yield on the price)0.3%
Profit margin 2020 to 2025 ⓘ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.9% → 6%
⚠ Revenue per share shrinking 1.9%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +4.9% a year for the price and +1.8% for the forecasts.
Compare Fomento de Construcciones y Contratas SA with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Waste Management · 162 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−5.7% · Below median
Profitability
Return on equity (TTM)8.6% · Above median
Return on assets4.5% · Above median
Net margin (TTM)3.4% · Below median
Operating margin (TTM)6.1% · Below median
Growth and dividend
Revenue growth13.7% · Above median
Dividend yield (TTM)0.3% · Bottom 25%
Balance sheet
Debt / equity1.15× · Highest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fomento de Construcciones y Contratas SA Fair Value". https://www.fairvalue-calculator.com/stock/FCC
Frequently asked questions
Is Fomento de Construcciones y Contratas SA (FCC) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €9.99 versus a price of €10.60, about −6% upside (fairly valued).
What is the fair value of FCC?
Our model-based fair value for Fomento de Construcciones y Contratas SA is €9.99 (as of Sep 27, 2026), built from audited fundamentals. The current price: €10.60.
What is the quality score of FCC?
Fomento de Construcciones y Contratas SA has a Quality Score of 45/100. 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 Fomento de Construcciones y Contratas SA (FCC)?
Our model-based price target is the fair value of €9.99 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario €7.02, optimistic scenario €12.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Fomento de Construcciones y Contratas SA stock forecast for 2026?
Our models put fair value at €9.99, about −6% upside versus a price of €10.60 (fairly valued). Cautious scenario €7.02, optimistic scenario €12.48. The calculation is refreshed regularly with new filings.
What is the revenue of Fomento de Construcciones y Contratas SA (FCC)?
Fomento de Construcciones y Contratas SA reported trailing-twelve-month revenue of about €10.6B (latest available figure, as of Sep 27, 2026).
Does Fomento de Construcciones y Contratas SA pay a dividend?
Fomento de Construcciones y Contratas SA currently shows a dividend yield of about 0.27% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Fomento de Construcciones y Contratas SA (FCC)?
For today's price to be fair in a discounted-cash-flow model, Fomento de Construcciones y Contratas SA would have to grow free cash flow by +7.2 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of FCC use?
Our models discount Fomento de Construcciones y Contratas SA at 11.0 %: a base by market capitalisation (mid), damped by beta 0.97, country premium for Spain. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fomento de Construcciones y Contratas SA that is +7.2 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Fomento de Construcciones y Contratas SA (FCC) delivered so far?
Over the past 5 years revenue at Fomento de Construcciones y Contratas SA grew +9.5 % a year. The price currently implies +7.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fomento de Construcciones y Contratas SA (FCC) growing?
The median revenue growth in the sector is +5.4 % a year. That is the yardstick for the growth priced into Fomento de Construcciones y Contratas SA (+7.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fomento de Construcciones y Contratas SA (FCC)?
The free-cash-flow yield on the price is 9.68 %: that much free cash flow Fomento de Construcciones y Contratas SA produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fomento de Construcciones y Contratas SA (FCC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fomento de Construcciones y Contratas SA it is €9.99 per share (as of Sep 27, 2026), against a price of €10.60. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Fomento de Construcciones y Contratas SA stock overvalued or undervalued in 2026?
As of Sep 27, 2026, FCC trades above its calculated fair value: price €10.60, fair value €9.99, a gap of about −6% (fairly valued). 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 FCC?
No. The price is what the market pays today (€10.60); the fair value is what the company's own numbers justify (€9.99). For Fomento de Construcciones y Contratas SA the two are €0.6080 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fomento de Construcciones y Contratas SA worth?
The market values Fomento de Construcciones y Contratas SA at about €5.0B (market capitalisation, as of Sep 27, 2026). Per share that is €10.60; our models calculate a fair value of €9.99 per share.
What do the bullish and bearish scenarios say about FCC?
Our models span a range for Fomento de Construcciones y Contratas SA: cautious scenario €7.02, base €9.99, optimistic €12.48 per share (as of Sep 27, 2026, price €10.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FCC?
Fomento de Construcciones y Contratas SA trades at a price-to-earnings ratio of 24.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €9.99 is built from several models across several years. Other multiples: PEG 78.2, P/B 1.4, P/S 0.8, EV/EBITDA 7.8.
What is the PEG ratio of FCC?
The PEG ratio of Fomento de Construcciones y Contratas SA is 78.21 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Fomento de Construcciones y Contratas SA (FCC)?
Balance-sheet figures for Fomento de Construcciones y Contratas SA (as of Sep 27, 2026): return on equity 8.6%, debt of 1.15 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is FCC from its 52-week high?
Fomento de Construcciones y Contratas SA trades at €10.60, about 17% below its 52-week high of €12.78 and 6% above the low of €10.01 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of €9.99 is for.
Which stocks are comparable to Fomento de Construcciones y Contratas SA?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, 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 Fomento de Construcciones y Contratas SA stock attractive at the current price?
The data as of Sep 27, 2026: price €10.60, calculated fair value €9.99 (−6%), Quality Score 45/100, from 24 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 FCC calculated?
We run Fomento de Construcciones y Contratas SA through 24 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 €9.99, 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 14.8 % above its aggregate fair value. Fomento de Construcciones y Contratas SA 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 Fomento de Construcciones y Contratas SA (FCC)?
The closing price on Sep 29, 2026 was €10.60. Our model-based fair value is €9.99, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fomento de Construcciones y Contratas SA right 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.
Key figures of Fomento de Construcciones y Contratas SA
How large is the market capitalisation of Fomento de Construcciones y Contratas SA (FCC)?
The market capitalisation of Fomento de Construcciones y Contratas SA is €5.0B. 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 Fomento de Construcciones y Contratas SA (FCC)?
The price-to-sales ratio of Fomento de Construcciones y Contratas SA is 0.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fomento de Construcciones y Contratas SA (FCC)?
Earnings per share at Fomento de Construcciones y Contratas SA are €0.4400 (price ÷ EPS = P/E 24.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fomento de Construcciones y Contratas SA (FCC)?
The dividend yield of Fomento de Construcciones y Contratas SA is 0.3% (payout 6.5%). 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 Fomento de Construcciones y Contratas SA (FCC)?
The net margin of Fomento de Construcciones y Contratas SA is 1.7% (fiscal year 2025). 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 Fomento de Construcciones y Contratas SA (FCC)?
The return on equity (ROE) of Fomento de Construcciones y Contratas SA is 8.6% (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 Fomento de Construcciones y Contratas SA (FCC)?
On an EBIT basis the return on assets of Fomento de Construcciones y Contratas SA is 4.6% (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 Fomento de Construcciones y Contratas SA (FCC)?
The operating margin of Fomento de Construcciones y Contratas SA is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fomento de Construcciones y Contratas SA (FCC)?
Revenue at Fomento de Construcciones y Contratas SA is growing +13.7% versus a year earlier (3y avg +8.0%). 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 Fomento de Construcciones y Contratas SA (FCC)?
Earnings per share at Fomento de Construcciones y Contratas SA are growing +50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fomento de Construcciones y Contratas SA (FCC) carry?
The net debt of Fomento de Construcciones y Contratas SA is €3.0B (fiscal year 2025, ≈ 6.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Fomento de Construcciones y Contratas SA in the live analysis
One click puts Fomento de Construcciones y Contratas SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
