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Hochtief AG
XETRA:HOT

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Hochtief AG
XETRA:HOT
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Price: 457.2 EUR 1.78% Market Closed
Market Cap: €35.5B

P/FCFE

20.4
Current
110%
More Expensive
vs 3-y average of 9.8

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
20.4
=
Market Cap
€30.4B
/
Free Cash Flow to Equity
€1.7B

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
20.4
=
Market Cap
€30.4B
/
Free Cash Flow to Equity
€1.7B

Valuation Scenarios

Hochtief AG is trading above its 3-year average

If P/FCFE returns to its 3-Year Average (9.8), the stock would be worth €218.15 (52% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-73%
Maximum Upside
+56%
Average Downside
15%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 20.4 €457.2
0%
3-Year Average 9.8 €218.15
-52%
5-Year Average 5.6 €124.61
-73%
Industry Average 31.9 €712.83
+56%
Country Average 22 €491.39
+7%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
Market Cap P/FCFE P/E
DE
Hochtief AG
XETRA:HOT
34.4B EUR 20.4 38.1
JP
Sumitomo Densetsu Co Ltd
TSE:1949
35.2T JPY 35.3 19.9
US
Quanta Services Inc
NYSE:PWR
111B USD 35.9 108.1
FR
Vinci SA
PAR:DG
71.4B EUR 9.6 14.6
US
Comfort Systems USA Inc
NYSE:FIX
65.7B USD 49 53.7
IN
Larsen & Toubro Ltd
NSE:LT
5.5T INR 52.7 33.9
IN
Larsen and Toubro Ltd
F:LTO
48.4B EUR 49.5 31.9
NL
Ferrovial SE
AEX:FER
42.2B EUR 34.4 47.5
ES
Ferrovial SA
MAD:FER
42.1B EUR 34.3 47.4
US
EMCOR Group Inc
NYSE:EME
40.2B USD 34.1 31.6
ES
ACS Actividades de Construccion y Servicios SA
MAD:ACS
31.9B EUR 14.6 33.7

Market Distribution

In line with most companies in Germany
Percentile
47th
Based on 1 747 companies
47th percentile
20.4
Low
0.3 — 12.8
Typical Range
12.8 — 33.7
High
33.7 —
Distribution Statistics
Germany
Min 0.3
30th Percentile 12.8
Median 22
70th Percentile 33.7
Max 8 508.8

Hochtief AG
Glance View

Hochtief AG, a titan in the realm of construction and engineering, stands as one of Germany’s most storied companies with roots that trace back to 1874. Known for transforming skylines and landscapes across the globe, Hochtief has established its core operations primarily in three geographical regions: the Americas, Asia-Pacific, and Europe. The company's strategy focuses on diverse sectors such as infrastructure, building, and engineering projects, positioning itself as a leader in both public and private sector developments. By leveraging its extensive expertise and innovative methodologies, Hochtief drives complex projects, from the creation of skyscrapers to the development and maintenance of roads, airports, and bridges. Its operational ethos combines a strong emphasis on sustainability, smart technology, and safety, which sets it apart in the competitive construction landscape. Revenue streams for Hochtief are primarily derived from undertaking large-scale, often iconic construction projects and through subsidiary operations, like CIMIC Group in Australia. These projects range from high-profile urban developments to crucial infrastructure works, with the company often engaged from design through to maintenance. Hochtief doesn't just build, but also invests in infrastructure projects, thus possessing stakes over the life of some developments, adding a long-term financial layer to its income. Additionally, through its public-private partnership (PPP) projects, Hochtief is able to generate consistent cash flows, securing a steady roster of contracts that help weather industry cyclicality. Such a diversified model allows Hochtief to not only capture immediate project-based revenues but also ensure long-term profitability through management and concession-based income.

HOT Intrinsic Value
291.25 EUR
Overvaluation 36%
Intrinsic Value
Price €457.2
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