Obrascon Huarte Lain SA (OHLA) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Obrascon Huarte Lain SA €0.49, price €0.36, upside +38.7%, quality 34 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 27, 2026.
How to read this chart
60‑month range €0.2229 – €0.9570 · fair‑value band €0.4335 – €0.5780 · the €0.3554 price screens below the €0.4930 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Obrascón Huarte Lain, S.A. engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally. It operates through Construction, Industrial, and Other segments.
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Obrascón Huarte Lain, S.A. engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally. It operates through Construction, Industrial, and Other segments. The company provides civil engineering and building construction services for public and private-sector customers; and designs, engineers, constructs, maintains, and operates industrial plants and systems, including oil and gas, renewable energy, mining and cement, solids engineering, and fire-fighting systems. In addition, it offers building renovation and consulting; technical advisory; IT; and management consultancy services. Further, the company engages in the installation and maintenance of security and fire protection systems; water treatment and distribution; development of a fossil fuel power plants; industrial engineering for a refinery; development and operation of hotels and leisure centres; finance, studies, and management; car park concession and operation; construction and development of real estate projects; and concession and operation of ports and marinas. The company was formerly known as Sociedad General de Obras y Construcciones Obrascón, S.A. Obrascón Huarte Lain, S.A. was incorporated in 1911 and is based in Madrid, Spain.
Stock analysis
Obrascon Huarte Lain SA (OHLA) currently trades at €0.3554, while our model-based Fair Value estimate is €0.4930, implying the stock looks roughly 27.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €0.8300 per share, and 14 of the 21 models we run sit above the €0.3554 price.
Bear case: the Economic Profit group reads lowest at €0.2600, and 7 of the 21 models stay below the price. Evidence for this calculation is low.
Scenario range: €0.4335 (bear) to €0.5780 (bull), the price of €0.3554 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 34/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Obrascon Huarte Lain SA reported revenue of €3.5B in FY2025 versus €2.8B in FY2021, a compound +5.6%/yr. Reported net income was €1.7M in FY2025, compounding −26.9%/yr from FY2021.
Key figures
Market cap €613M · P/S ratio 0.18 · Net margin 0.0% · Return on equity 7.3% · Return on assets (EBIT) 2.1% · Operating margin 3.4% · Revenue (TTM) €3.4B · Revenue growth (YoY) −1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at 39%, OHLA screens cheaper than that median.
Fair Value models
Bear €0.4335Fair Value €0.4930Bull €0.5780
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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.4%
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.
+6.4%
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.
+4.1%
Start year 2020 (pandemic). Over 10 years: −2.3% a year
Revenue growth 20 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.
+1.7%
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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.
−37.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−37.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−37.7% vs −41.3%, picking up
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.0% → 4%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 12.4%/yr over ~10Y (margins eroding too) ⓘ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 more growth than the company has delivered so far.
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).
+44.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +41.1% a year for the price.
Compare Obrascon Huarte Lain SA with another stock
Price, fair value, quality and upside side by side.
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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 · 808 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score34 · Bottom 25%
Fair Value upside+38.7% · Above median
Profitability
Return on equity (TTM)7.3% · Above median
Return on assets2.6% · Above median
Net margin (TTM)0.9% · Below median
Operating margin (TTM)3.4% · Below median
Growth and dividend
Revenue growth−1.1% · Below median
Balance sheet
Debt / equity0.55× · Highest 25%
Valuation Multiplesvs Engineering & Construction 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). "Obrascon Huarte Lain SA Fair Value". https://www.fairvalue-calculator.com/stock/OHLA
Frequently asked questions
Is Obrascon Huarte Lain SA (OHLA) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €0.4930 versus a price of €0.3554, about +39% upside (undervalued).
What is the fair value of OHLA?
Our model-based fair value for Obrascon Huarte Lain SA is €0.4930 (as of Sep 27, 2026), built from audited fundamentals. The current price: €0.3554.
What is the quality score of OHLA?
Obrascon Huarte Lain SA has a Quality Score of 34/100. 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 Obrascon Huarte Lain SA (OHLA)?
Our model-based price target is the fair value of €0.4930 (as of Sep 27, 2026) from 21 valuation models. Cautious scenario €0.4335, optimistic scenario €0.5780. It is a calculation from audited fundamentals, not an analyst target.
What is the Obrascon Huarte Lain SA stock forecast for 2026?
Our models put fair value at €0.4930, about +39% upside versus a price of €0.3554 (undervalued). Cautious scenario €0.4335, optimistic scenario €0.5780. The calculation is refreshed regularly with new filings.
What is the revenue of Obrascon Huarte Lain SA (OHLA)?
Obrascon Huarte Lain SA reported trailing-twelve-month revenue of about €3.4B (latest available figure, as of Sep 27, 2026).
What growth is priced into Obrascon Huarte Lain SA (OHLA)?
For today's price to be fair in a discounted-cash-flow model, Obrascon Huarte Lain SA would have to grow free cash flow by +44.2 % per year for five years (discount rate 12.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.1 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of OHLA use?
Our models discount Obrascon Huarte Lain SA at 12.7 %: a base by market capitalisation (small), damped by beta 1.06, 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 Obrascon Huarte Lain SA that is +44.2 % per year a year over ten years, using the same discount rate (12.7 %) and the same formula as our fair value.
How much growth has Obrascon Huarte Lain SA (OHLA) delivered so far?
Over the past 5 years revenue at Obrascon Huarte Lain SA grew +4.1 % a year. The price currently implies +44.2 % 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 Obrascon Huarte Lain SA (OHLA) growing?
The median revenue growth in the sector is +5.4 % a year. That is the yardstick for the growth priced into Obrascon Huarte Lain SA (+44.2 % 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 Obrascon Huarte Lain SA (OHLA)?
The free-cash-flow yield on the price is 0.52 %: that much free cash flow Obrascon Huarte Lain SA produces per unit of market value. When it exceeds the discount rate of our models (12.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Obrascon Huarte Lain SA (OHLA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Obrascon Huarte Lain SA it is €0.4930 per share (as of Sep 27, 2026), against a price of €0.3554. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Obrascon Huarte Lain SA stock overvalued or undervalued in 2026?
As of Sep 27, 2026, OHLA trades below its calculated fair value: price €0.3554, fair value €0.4930, a gap of about +39% (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 OHLA?
No. The price is what the market pays today (€0.3554); the fair value is what the company's own numbers justify (€0.4930). For Obrascon Huarte Lain SA the two are €0.1376 per share apart. That gap is exactly why we show both numbers side by side.
How much is Obrascon Huarte Lain SA worth?
The market values Obrascon Huarte Lain SA at about €613M (market capitalisation, as of Sep 27, 2026). Per share that is €0.3554; our models calculate a fair value of €0.4930 per share.
What do the bullish and bearish scenarios say about OHLA?
Our models span a range for Obrascon Huarte Lain SA: cautious scenario €0.4335, base €0.4930, optimistic €0.5780 per share (as of Sep 27, 2026, price €0.3554). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of OHLA?
The PEG ratio of Obrascon Huarte Lain SA is 0.51 (P/E divided by earnings growth, as of Sep 27, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Obrascon Huarte Lain SA (OHLA)?
Balance-sheet figures for Obrascon Huarte Lain SA (as of Sep 27, 2026): return on equity 7.3%, debt of 0.55 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is OHLA from its 52-week high?
Obrascon Huarte Lain SA trades at €0.3554, about 31% below its 52-week high of €0.5120 and 4% above the low of €0.3430 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of €0.4930 is for.
Which stocks are comparable to Obrascon Huarte Lain SA?
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 Obrascon Huarte Lain SA stock attractive at the current price?
The data as of Sep 27, 2026: price €0.3554, calculated fair value €0.4930 (+39%), Quality Score 34/100, from 21 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 OHLA calculated?
We run Obrascon Huarte Lain SA through 21 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 €0.4930, 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 15.9 % above its aggregate fair value. Obrascon Huarte Lain SA currently trades 39 % 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 Obrascon Huarte Lain SA (OHLA)?
The closing price on Sep 28, 2026 was €0.3554. Our model-based fair value is €0.4930, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Obrascon Huarte Lain SA right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€0.4335). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Obrascon Huarte Lain SA
How large is the market capitalisation of Obrascon Huarte Lain SA (OHLA)?
The market capitalisation of Obrascon Huarte Lain SA is €613M. 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 Obrascon Huarte Lain SA (OHLA)?
The price-to-sales ratio of Obrascon Huarte Lain SA is 0.18 (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 Obrascon Huarte Lain SA (OHLA)?
The net margin of Obrascon Huarte Lain SA is 0.0% (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 Obrascon Huarte Lain SA (OHLA)?
The return on equity (ROE) of Obrascon Huarte Lain SA is 7.3% (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 Obrascon Huarte Lain SA (OHLA)?
On an EBIT basis the return on assets of Obrascon Huarte Lain SA is 2.1% (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 Obrascon Huarte Lain SA (OHLA)?
The operating margin of Obrascon Huarte Lain SA is 3.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Obrascon Huarte Lain SA (OHLA)?
Revenue at Obrascon Huarte Lain SA is growing −1.1% versus a year earlier (3y avg +6.4%). 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 Obrascon Huarte Lain SA (OHLA)?
Earnings per share at Obrascon Huarte Lain SA are growing +128% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Obrascon Huarte Lain SA (OHLA) hold?
Obrascon Huarte Lain SA holds more cash than debt, €214M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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