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Grupo Empresarial San José, S.A (GSJ) Fair Value & Analysis

Industrials · ES · Market cap €553M

GE Grupo Empresarial San José, S.A GSJ · MC
Price€7.99
Fair Value€12.87
Upside+61.1%
Quality56/100
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Mixed Growth
Thin margins · 2.6% net margin
Low debt · generates free cash flow
Ranks above peers (8/13)
Narrow moat 40/100
Evidence: High Range €9.65 – €16.09 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from €17.16 to €12.87 (−25.0%) since Jun 24, 2026. Share price −4.3% over the past month.

A solid business, screening 61% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€9.65). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€9.17 €2.97 Fair Value €12.87 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €2.97 – €9.17 · fair‑value band €9.65 – €16.09 · the €7.99 price screens below the €12.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Grupo Empresarial San José, S.A (GSJ) currently trades at €7.99, while our model-based Fair Value estimate is €12.87, implying the stock looks roughly 61.1% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Grupo Empresarial San José, S.A generated revenue of €1.6B at a net margin of 2.5%. Revenue grew 7.3% year over year. It earns a return on equity of 15.1%. The balance sheet holds a net cash position of €592M. Fundamentals as of Jul 12, 2026

Our scenario range runs from €9.65 (bear case) to €16.09 (bull case); at €7.99, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 61%, GSJ screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €42.21 €66.09 €103.62 80
Residual Income €3.68 €4.68 €11.50 76
Rev-Margin DCF €28.29 €38.68 €60.73 74
All 26 models by family
DCF Models
FCF DCF €44.42 €60.51 €108.60 38
Owner Earnings €19.35 €29.98 €49.72 31
5Y Revenue Exit €26.77 €34.95 €51.71 39
5Y EBITDA Exit €28.60 €38.65 €58.18 41
5Y P/E Exit €27.33 €41.83 €60.30 38
10Y Revenue Exit €32.51 €49.67 €57.49 36
10Y EBITDA Exit €34.04 €53.26 €83.41 37
10Y P/E Exit €33.20 €50.78 €76.80 35
Earnings-Based
Graham-Dodd €4.17 €29.06 €40.78 54
Lynch FV €15.01 €21.45 €27.88 50
PEG = 1.0 €15.01 €21.45 €27.88 46
EPV €14.38 €15.05 €15.62 59
Dividend Discount
Gordon GGM €1.40 €2.52 €3.47 70
DDM Multi-Stage €1.40 €2.30 €2.69 61
Multiples
P/E Multiple €9.65 €12.87 €16.09 63
P/S Multiple €7.81 €10.42 €13.02 58
P/B Multiple €7.81 €10.42 €13.02 55
EV/EBIT €20.98 €24.83 €28.68 53
EV/EBITDA €20.91 €24.74 €28.57 54
EV/Revenue €17.67 €21.20 €24.74 43
Asset-Based
NCAV (Graham) €1.91 €2.55 €3.81 50
Growth DCF
Growth DCF €42.21 €66.09 €103.62 80
Rev-Margin DCF €28.29 €38.68 €60.73 74
Economic Profit
Residual Income €3.68 €4.68 €11.50 76
ROIC Compounder €14.38 €15.05 €15.62 72
Growth Earnings
Growth-Adj P/E €19.64 €28.06 €36.47 68

Widest divergence: DCF Models (€41.83) versus Dividend Discount (€2.30). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €1.6B
Revenue growth (YoY) +7.3%
Net margin 2.5%
Return on equity 15.1%
Free cash flow €167M FY2025
P/E ratio 12.4
More key figures
Operating margin 4.4%
EPS (TTM) €0.6400
EPS growth (YoY) +22.6%
Net cash €592M FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 60

Profitability 45
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Grupo Empresarial San José, S.A., together with its subsidiaries, engages in construction business in Spain and internationally.

Full company description

Grupo Empresarial San José, S.A., together with its subsidiaries, engages in construction business in Spain and internationally. It provides building, civil works, engineering and industrial construction services; development and maintenance of hospitals, buildings and facilities, energy power plants, conservation of parks and gardens, and infrastructures; consultancy and project management services for architecture, civil engineering, infrastructure, real estate management, technology, and sustainable development; interior finishes, furniture, sanitary ware, and accessories, as well as pre-installations for plumbing, electricity, and HVAC, etc.; distribution of sport and fashion clothes under the Arena, Teva, Hoka, Diadora, Hunter, and Fred Perry clothing brands. The company is also involved in energy efficiency and renewable energy business; agricultural and stock breeding developments; food supply; influence distribution; provisions of health care and social services; designs and installs air conditioning, heating, industrial cooling, and plumbing facilities; marketing, manufacturing, distribution, import and export of clothing; manufacture, storage and distribution of manufactured goods; construction, commissioning and maintenance of polygeneration power plants; publishing, production, reproduction and public dissemination of books, newspapers, magazines and other; study, design, development and purchase and sale of all manner of electronic, computer, telecommunications and audiovisual components, products and systems; lease of all manner of assets; private construction work, mainly buildings, road networks and hydraulic works; and management and recruitment of personnel for all types of company, association and organization. The company was formerly known as Udra S.A. and changed its name to Grupo Empresarial San José, S.A. in June 2008. The company was founded in 1962 and is headquartered in Madrid, Spain.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Grupo Empresarial San José, S.A reported revenue of €1.6B in FY2025 versus €928M in FY2021, a compound +14.4%/yr. Reported net income was €39.9M in FY2025, compounding +34.7%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.6B
Latest YoY
+1.9%
Avg. growth/yr (3Y)
+13.3%
Avg. growth/yr (5Y)
+10.5%
Avg. growth/yr (19Y)
+1.0%
Revenue +14.4%/yr
FY21 €928M
FY22 €1.1B
FY23 €1.3B
FY24 €1.6B
FY25 €1.6B
Net income +34.7%/yr
FY21 €12.1M
FY22 €16.6M
FY23 €19.9M
FY24 €33.0M
FY25 €39.9M

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Cite: Fair Value Calculator (2026). "Grupo Empresarial San José, S.A Fair Value". https://www.fairvalue-calculator.com/stock/GSJ

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 56 · Above median
Fair Value upside +61% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 14% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than median
P/B 2.58× · Pricier than median
P/S (TTM) 0.39× · Cheaper than median
P/FCF 3.8× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 16
FUTURE 69 · sector 18
PAST 60 · sector 26
HEALTH 98 · sector 94
DIVIDEND 0 · sector 33

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Grupo Empresarial San José, S.A (GSJ) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €12.87 versus a price of €7.99, about +61% (undervalued).
What is the fair value of GSJ?
Our model-based fair value for Grupo Empresarial San José, S.A is €12.87 (as of Jul 12, 2026), built from audited fundamentals. The current price is €7.99.
What is the quality score of GSJ?
Grupo Empresarial San José, S.A has a Quality Score of 56/100. 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 revenue of Grupo Empresarial San José, S.A (GSJ)?
Grupo Empresarial San José, S.A reported trailing-twelve-month revenue of about €1.6B (latest available figure, as of Jul 12, 2026).
What is the net profit margin of GSJ?
The net profit margin of Grupo Empresarial San José, S.A is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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