(OHLA) Obrascon Huarte Lain - Overview
Sector: Industrials | Industry: Engineering & Construction | Exchange: MC (Spain) | Market Cap: 578m EUR | Total Return: 26.9% in 12m
Avg Turnover: 3.48M
Rev. Trend: 80.3%
Warnings
Share dilution 57.1% YoY
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Tailwinds
No distinct edge detected
Obrascón Huarte Lain, S.A. (OHLA) is a Madrid-based multinational infrastructure and engineering group specializing in civil engineering, industrial construction, and public-private partnership concessions. Its operations span major markets in the Americas and Europe, covering sectors such as renewable energy, mining, transportation infrastructure, and urban services. The company’s business model relies on a mix of long-term concession contracts, which provide recurring revenue streams, and specialized technical services for large-scale industrial projects.
The construction and engineering sector is characterized by high capital intensity and sensitivity to public infrastructure spending cycles. OHLA manages this volatility by diversifying into technical advisory, water treatment, and facility management, alongside its core building activities. For deeper insights into the firms financial health and valuation metrics, consult ValueRay.
- U.S. infrastructure project backlog growth drives long-term revenue stability
- High leverage and debt refinancing terms impact company valuation
- Rising materials and labor costs pressure international construction margins
- Expansion of renewable energy and industrial plant contracts boosts backlog
- Concession asset divestments and liquidations determine balance sheet strength
| Net Income: 1.70m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -3.25 > 1.0 |
| NWC/Revenue: 16.16% < 20% (prev 14.89%; Δ 1.27% < -1%) |
| CFO/TA 0.01 > 3% & CFO 52.0m > Net Income 1.70m |
| Net Debt (-282.0m) to EBITDA (205.1m): -1.37 < 3 |
| Current Ratio: 1.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.38b) vs 12m ago 57.06% < -2% |
| Gross Margin: 2.99% > 18% (prev 0.44%; Δ 254.9% > 0.5%) |
| Asset Turnover: 98.13% > 50% (prev 102.2%; Δ -4.10% > 0%) |
| Interest Coverage Ratio: 1.72 > 6 (EBITDA TTM 205.1m / Interest Expense TTM 74.6m) |
| A: 0.16 (Total Current Assets 2.75b - Total Current Liabilities 2.20b) / Total Assets 3.47b |
| B: 0.00 (Retained Earnings 1.71m / Total Assets 3.47b) |
| C: 0.04 (EBIT TTM 128.0m / Avg Total Assets 3.52b) |
| D: 0.10 (Book Value of Equity 298.3m / Total Liabilities 2.84b) |
| Altman-Z'' = 1.41 = BB |
| DSRI: 1.01 (Receivables 1.46b/1.53b, Revenue 3.46b/3.65b) |
| GMI: 14.73 (GM 2.99% / 44.03%) |
| AQI: 1.21 (AQ_t 0.11 / AQ_t-1 0.09) |
| SGI: 0.95 (Revenue 3.46b / 3.65b) |
| TATA: -0.01 (NI 1.70m - CFO 52.0m) / TA 3.47b) |
| Beneish M = 9.49 (Cap -4..+1) = D |
As of May 25, 2026, the stock is trading at EUR 0.42 with a total of 6,060,831 shares traded.
Over the past week, the price has changed by -5.69%,
over one month by -11.67%,
over three months by +11.47% and
over the past year by +26.86%.
Obrascon Huarte Lain has no consensus analysts rating.
P/E Forward = 10.0
P/S = 0.1672
P/B = 0.9457
P/EG = 0.5148
Revenue TTM = 3.46b EUR
EBIT TTM = 128.0m EUR
EBITDA TTM = 205.1m EUR
Long Term Debt = 336.7m EUR (from longTermDebt, last quarter)
Short Term Debt = 25.7m EUR (from shortTermDebt, last quarter)
Debt = 432.4m EUR (from shortLongTermDebtTotal, last quarter) + Leases 70.0m
Net Debt = -282.0m EUR (calculated: Debt 432.4m - CCE 714.4m)
Enterprise Value = 295.9m EUR (577.9m + Debt 432.4m - CCE 714.4m)
Interest Coverage Ratio = 1.72 (Ebit TTM 128.0m / Interest Expense TTM 74.6m)
EV/FCF = 19.70x (Enterprise Value 295.9m / FCF TTM 15.0m)
FCF Yield = 5.08% (FCF TTM 15.0m / Enterprise Value 295.9m)
FCF Margin = 0.43% (FCF TTM 15.0m / Revenue TTM 3.46b)
Net Margin = 0.05% (Net Income TTM 1.70m / Revenue TTM 3.46b)
Gross Margin = 2.99% ((Revenue TTM 3.46b - Cost of Revenue TTM 3.35b) / Revenue TTM)
Gross Margin QoQ = -9.70% (prev -2.03%)
Tobins Q-Ratio = 0.09 (Enterprise Value 295.9m / Total Assets 3.47b)
Interest Expense / Debt = 17.25% (Interest Expense 74.6m / Debt 432.4m)
Taxrate = 20.30% (12.2m / 60.1m)
NOPAT = 102.0m (EBIT 128.0m * (1 - 20.30%))
Current Ratio = 1.25 (Total Current Assets 2.75b / Total Current Liabilities 2.20b)
Debt / Equity = 0.71 (Debt 432.4m / totalStockholderEquity, last quarter 611.0m)
Debt / EBITDA = -1.37 (Net Debt -282.0m / EBITDA 205.1m)
Debt / FCF = -18.78 (Net Debt -282.0m / FCF TTM 15.0m)
Total Stockholder Equity = 579.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.05% (Net Income 1.70m / Total Assets 3.47b)
RoE = 0.29% (Net Income TTM 1.70m / Total Stockholder Equity 579.7m)
RoCE = 13.97% (EBIT 128.0m / Capital Employed (Equity 579.7m + L.T.Debt 336.7m))
RoIC = 8.24% (NOPAT 102.0m / Invested Capital 1.24b)
WACC = 10.72% (E(577.9m)/V(1.01b) * Re(8.46%) + D(432.4m)/V(1.01b) * Rd(17.25%) * (1-Tc(0.20)))
Discount Rate = 8.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.41 | Cagr: 45.99%
[DCF] Terminal Value 64.78% ; FCFF base≈61.6m ; Y1≈54.0m ; Y5≈43.7m
[DCF] Fair Price = 0.57 (EV 504.7m - Net Debt -282.0m = Equity 786.7m / Shares 1.38b; r=10.72% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 80.34 | Revenue CAGR: 5.18% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.03 | Chg30d=N/A | Revisions=+20% | GrowthEPS=+2042.9% | GrowthRev=+11.5%
EPS next Year (2027-12-31): EPS=0.02 | Chg30d=N/A | Revisions=N/A | GrowthEPS=-22.2% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: +20%