TRE Stock Analysis: Tecnicas Reunidas | MC
Engineering & Construction | MC, Spain | Market Cap: 2.515m EUR | 12M Return: 40.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.80M
EPS Trend: 92.1%
Qual. Beats: -1
Rev. Trend: 76.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Técnicas Reunidas, S.A. (MC: TRE) is a Madrid-based Spanish engineering and construction company that designs and manages industrial plant projects worldwide, primarily for the energy and chemical sectors. The company operates as an EPC (engineering, procurement and construction) contractor, delivering turnkey projects for clients across the oil, gas and petrochemical value chains, and is classified within the GICS Energy Equipment & Services sub-industry.
Its activities are organized into five segments: Upstream & Refining, Natural Gas, Petrochemical, Low-Carbon Technologies, and Other. Together they cover facilities for fuel production, the full natural gas supply chain (from production and treatment through liquefaction, storage and regasification), and petrochemical plants producing base chemicals used in water distribution, pharmaceuticals, food and other industries.
The Low-Carbon Technologies segment focuses on energy-transition solutions, including hydrogen, carbon capture and storage (CCS), biomethane, and the conversion of biomass and waste into fuels, chemicals and power. The Other segment adds water treatment, port infrastructure and oil production activities, while ancillary operations include engineering consultancy and machinery wholesale.
The company was incorporated in 1960 as Lummus Española, S.A., adopting its current name in 1972, and is headquartered in Madrid, Spain. Like most peers in its sector, its revenue is project-based and tied to capex cycles of energy and petrochemical clients, with growing exposure to decarbonization projects.
- Saudi Aramco refinery contract wins expand order backlog
- Hydrogen and CCS project pipeline accelerates across Europe
- Margin recovery on legacy fixed-price contracts boosts profitability
| Net Income: 144.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.36 > 1.0 |
| NWC/Revenue: 14.00% < 20% (prev 11.26%; Δ 2.73% < -1%) |
| CFO/TA 0.02 > 3% & CFO 141.6m > Net Income 144.3m |
| Net Debt (-267.7m) to EBITDA (294.6m): -0.91 < 3 |
| Current Ratio: 1.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (78.1m) vs 12m ago -0.03% < -2% |
| Gross Margin: 17.89% > 18% (prev 26.43%; Δ -8.54% > 0.5%) |
| Asset Turnover: 121.0% > 50% (prev 100.3%; Δ 20.72% > 0%) |
| Interest Coverage Ratio: 5.11 > 6 (EBIT TTM 254.7m / Interest Expense TTM 49.8m) |
| A: 0.15 (Total Current Assets 5.83b - Total Current Liabilities 4.88b) / Total Assets 6.42b |
| B: 0.08 (Retained Earnings 518.6m / Total Assets 6.42b) |
| C: 0.05 (EBIT TTM 254.7m / Avg Total Assets 5.58b) |
| D: 0.10 (Book Value of Equity 581.7m / Total Liabilities 5.82b) |
| Altman-Z'' = 1.64 = BB |
| DSRI: 1.03 (Receivables 4.46b/3.04b, Revenue 6.75b/4.75b) |
| GMI: 1.48 (GM 26.43% / 17.89%) |
| AQI: 0.72 (AQ_t 0.07 / AQ_t-1 0.09) |
| SGI: 1.42 (Revenue 6.75b / 4.75b) |
| TATA: 0.00 (NI 144.3m - CFO 141.6m) / TA 6.42b) |
| Beneish M = -2.43 (Cap -4..+1) = BBB |
As of July 09, 2026, the stock is trading at EUR 29.08 with a total of 372,445 shares traded. Over the past week, the price has changed by -1.76%, over one month by -7.21%, over three months by -18.50% and over the past year by +40.89%.
Current recommended Stop Loss: 27.40 (which is 5.8% or 1.2 ATR below the current price).
Tecnicas Reunidas has no consensus analysts rating.
P/E Trailing = 17.6923
P/E Forward = 12.5628
P/S = 0.373
P/B = 3.9738
P/EG = 3.4184
Revenue TTM = 6.75b EUR
EBIT TTM = 254.7m EUR
EBITDA TTM = 294.6m EUR
Long Term Debt = 695.2m EUR (from longTermDebt, last quarter)
Short Term Debt = 247.7m EUR (from shortTermDebt, last quarter)
Debt = 1.04b EUR (from shortLongTermDebtTotal, last quarter) + Leases 92.3m
Net Debt = -267.7m EUR (calculated: Debt 1.04b - CCE 1.30b)
Enterprise Value = 2.25b EUR (2.51b + Debt 1.04b - CCE 1.30b)
Interest Coverage Ratio = 5.11 (Ebit TTM 254.7m / Interest Expense TTM 49.8m)
EV/FCF = 17.84x (Enterprise Value 2.25b / FCF TTM 126.0m)
FCF Yield = 5.61% (FCF TTM 126.0m / Enterprise Value 2.25b)
FCF Margin = 1.87% (FCF TTM 126.0m / Revenue TTM 6.75b)
Net Margin = 2.14% (Net Income TTM 144.3m / Revenue TTM 6.75b)
Gross Margin = 17.89% ((Revenue TTM 6.75b - Cost of Revenue TTM 5.54b) / Revenue TTM)
Gross Margin QoQ = 24.98% (prev 4.11%)
Tobins Q-Ratio = 0.35 (Enterprise Value 2.25b / Total Assets 6.42b)
Interest Expense / Debt = 4.81% (Interest Expense 49.8m / Debt 1.04b)
Taxrate = 33.61% (72.7m / 216.3m)
NOPAT = 169.1m (EBIT 254.7m * (1 - 33.61%))
Current Ratio = 1.19 (Total Current Assets 5.83b / Total Current Liabilities 4.88b)
Debt / Equity = 1.78 (Debt 1.04b / totalStockholderEquity, last quarter 581.7m)
Debt / EBITDA = -0.91 (Net Debt -267.7m / EBITDA 294.6m)
Debt / FCF = -2.13 (Net Debt -267.7m / FCF TTM 126.0m)
Total Stockholder Equity = 528.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.59% (Net Income 144.3m / Total Assets 6.42b)
RoE = 27.29% (Net Income TTM 144.3m / Total Stockholder Equity 528.8m)
RoCE = 20.81% (EBIT 254.7m / Capital Employed (Equity 528.8m + L.T.Debt 695.2m))
RoIC = 11.72% (NOPAT 169.1m / Invested Capital 1.44b)
WACC = 7.90% (E(2.51b)/V(3.55b) * Re(9.84%) + D(1.04b)/V(3.55b) * Rd(4.81%) * (1-Tc(0.34)))
Discount Rate = 9.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 15.56 | Cagr: 0.01%
[DCF] Terminal Value 77.97% ; FCFF base≈105.9m ; Y1≈121.4m ; Y5≈178.7m
[DCF] Fair Price = 37.86 (EV 2.69b - Net Debt -267.7m = Equity 2.96b / Shares 78.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 92.05 | EPS CAGR: 44.51% | SUE: -4.0 | # QB: -1
Revenue Correlation: 76.40 | Revenue CAGR: 16.47% | SUE: 0.06 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=2.58 | Chg30d=-2.43% | Revisions=-50% | GrowthEPS=+30.4% | GrowthRev=+2.4%
EPS next Year (2027-12-31): EPS=3.15 | Chg30d=+0.72% | Revisions=+40% | GrowthEPS=+22.1% | GrowthRev=-0.8%
[Analyst] Revisions Ratio: -12% (up=2, down=3)