Ferrovial (ADR)
Develops, builds, finances, and operates long-duration highways, airports, and energy infrastructure.
Something off on this page? Send us feedback.
Profile
Develops, finances, builds, and operates highways, airports, construction projects, and energy infrastructure. Combines construction activity with long-duration concessions, asset operation, and selective sales of mature holdings, with North America as the main growth focus.
Develops, finances, builds, and operates long-duration infrastructure across Highways, Airports, Construction, and Energy. The integrated model links engineering and construction capability with concession development and asset operation.
North America is the main growth focus, anchored by managed lanes in the United States, Toronto's 407 ETR toll road, and JFK's New Terminal One. Projects are executed through legally independent assets with their own management, while mature holdings can be sold to fund new concessions.
Performance depends on winning and financing long-lived projects, forecasting traffic, delivering complex construction, and operating regulated infrastructure. Founder-family continuity remains visible through executive chairman Rafael del Pino Calvo-Sotelo, alongside CEO Ignacio Madridejos. The portfolio has narrowed since the former Services division was sold, concentrating capital on transport and energy infrastructure.
Company facts
Key statistics
Year to date −9.0% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Aug 26, 2026 | UBS | Downgrade | Neutral | ||
| May 27, 2026 | Citigroup | Downgrade | Buy | Neutral | |
| Mar 9, 2026 | Jefferies | Downgrade | Buy | Hold | |
| Mar 8, 2026 | Jefferies | Target | $70.93 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.25 | $0.51 | +105.6% | $4.93B | $5.37B | +8.9% | +1.25% |
| Feb 25, 2026Q4 FY25 | −$0.18 | $0.34 | +293.3% | $2.36B | $3.19B | +35.1% | +1.98% |
| Jul 28, 2025Q2 FY25 | — | $0.44 | — | $2.52B | $2.63B | +4.3% | +0.86% |
| May 12, 2025Q1 FY25 | — | $0.41 | — | $1.98B | $2.45B | +23.6% | −0.84% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.59B | $5.18B | $2.99B | $5.98B | $2.43B | $5.45B | |
| Gross profit | $2.29B | $499.4M | $2.59B | $621.0M | $2.43B | $568.9M | |
| Operating income | $409.0M | $499.4M | $272.9M | $621.0M | $228.3M | $568.9M | |
| Net income | $312.8M | $625.7M | $201.6M | $403.2M | $228.3M | $298.9M | |
| Diluted EPS | $0.43 | $0.86 | $0.28 | $0.58 | $0.00 | $0.42 | |
| Gross margin | 88.3% | 9.6% | 86.7% | 10.4% | 100.0% | 10.4% | |
| Operating margin | 15.8% | 9.6% | 9.1% | 10.4% | 9.4% | 10.4% |
Fiscal years (4-quarter sums)FY20 $7.35B · FY21 $7.85B · FY23 $12.51B · FY24 $15.90B · FY25 $16.73B
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $4.48B · Total debt $12.35B · Total assets $31.54B · Shareholders' equity $6.63B
Dividends
Raised for 5 straight years — most recently to $0.6472 from $0.0897 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| May 19, 2026 | May 19 | Jun 15 | $0.6472 | raised from $0.0897 |
| Dec 5, 2025 | Dec 5 | Dec 22 | $0.0897 | cut from $0.5549 |
| Oct 27, 2025 | Oct 27 | Nov 25 | $0.5549 | raised from $0.3612 |
| May 23, 2025 | May 23 | Jun 25 | $0.3612 | cut from $0.497 |
| Dec 16, 2024 | Dec 16 | Dec 27 | $0.0364 | special dividend |
| Nov 7, 2024 | Nov 7 | Dec 13 | $0.497 | raised from $0.3294 |
| May 20, 2024 | May 21 | Jun 21 | $0.3294 | cut from $0.4525 |
| Oct 25, 2023 | Oct 26 | Nov 22 | $0.4525 | raised from $0.2652 |
Ownership
Shares outstanding 725.33M · Float 460.31M · 63.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Rijn Capital SARL | 153.57M | 21.30% | 13G | Nov 1, 2024 |
| María del Pino y Calvo-Sotelo | 70.89M | 9.90% | 13G | Oct 22, 2024 |
| del Pino Calvo-Sotelo Maria | 62.88M | 8.80% | 13G | Nov 13, 2025 |
| Tci Fund Management Ltd | 20.94M | 2.89% | 13F | Aug 14, 2026 |
| Invesco Ltd. | 19.81M | 2.73% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
Not reported.