Técnicas Reunidas, S.A (TNISY) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Técnicas Reunidas, S.A $8.55, price $6.09, upside +40.5%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Técnicas Reunidas, S.A
TNISY · USSpeculativeUpside exists, but weak quality makes the signal speculative.
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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 $2.65 – $8.90 · fair‑value band $6.11 – $11.59 · the $6.09 price screens below the $8.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
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 (TNISY) currently trades at $6.09, while our model-based Fair Value estimate is $8.55, implying the stock looks roughly 28.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $10.86 per share, and 20 of the 26 models we run sit above the $6.09 price.
Bear case: the Asset-Based group reads lowest at $1.07, and 6 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.11 (bear) to $11.59 (bull), the price of $6.09 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 44/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Técnicas Reunidas, S.A reported revenue of €6.2B in FY2025 versus €2.8B in FY2021, a compound +22.0%/yr. Reported net income was €151M in FY2025.
Key figures
Market cap $2.8B · P/E ratio 14.5 · P/S ratio 0.35 · EPS (TTM) $0.4200 · Net margin 2.4% · Return on equity 23.6% · Return on assets (EBIT) 1.6% · Operating margin 4.8%.
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 32% below its 52-week high and 22% 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 41%, TNISY screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 40
Revenue & earnings trend
Growth Forecast
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Compare Técnicas Reunidas, S.A with another stock
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.
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| 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% |
| HOCHTIEF Aktiengesellschaft HOT | €407.40 | €203.86 | −50% |
| 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% |
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Key figures of Técnicas Reunidas, S.A
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