(GBF) Bilfinger SE - Overview
Stock: Engineering, Maintenance, Construction, Decommissioning, Digital
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.31% |
| Yield on Cost 5y | 12.06% |
| Yield CAGR 5y | 6.30% |
| Payout Consistency | 90.4% |
| Payout Ratio | 47.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 30.9% |
| Relative Tail Risk | -8.13% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.41 |
| Alpha | 139.47 |
| Character TTM | |
|---|---|
| Beta | 0.236 |
| Beta Downside | 0.404 |
| Drawdowns 3y | |
|---|---|
| Max DD | 21.06% |
| CAGR/Max DD | 2.65 |
Description: GBF Bilfinger SE January 11, 2026
Bilfinger SE (XETRA:GBF) is a German-based industrial services firm that delivers engineering, construction, maintenance, and digital solutions to process-industry clients across Europe, North America, and the Middle East. Its portfolio spans traditional plant services-such as turnaround management, rotating equipment, inspection, insulation, and corrosion protection-as well as newer energy-transition offerings, including carbon-capture-and-storage (CCS), hydrogen, wind, and hydropower projects, plus waste-recycling and wastewater-treatment services. The company also operates in the nuclear sector, providing new-build, de-commissioning, and radioactive-waste handling capabilities.
Key operating metrics (FY 2023) show an adjusted EBIT margin of roughly 6.5 % and an order backlog of €5.2 bn, indicating a moderate degree of revenue visibility into 2025. Bilfinger’s earnings are highly sensitive to cyclicality in the chemicals, oil-and-gas, and pharma sectors, which together account for about 70 % of revenue; a 1 % change in global industrial production is estimated to move EBITDA by ±0.3 %. The firm is also positioning itself for the European energy transition: its CCS and hydrogen service lines grew double-digit percentages YoY in 2023, and the segment now contributes ~4 % of total sales, a figure that management expects to reach 8–10 % by 2027. Capital-expenditure intensity remains low (≈2 % of revenue), giving Bilfinger flexibility to increase leverage if needed to fund growth.
For a deeper, data-driven assessment of Bilfinger’s valuation and risk profile, you may find the analyst tools on ValueRay useful for building a customized scenario model.
Piotroski VR‑10 (Strict, 0-10) 7.0
| Net Income: 185.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 2.84 > 1.0 |
| NWC/Revenue: 7.60% < 20% (prev 10.59%; Δ -2.99% < -1%) |
| CFO/TA 0.10 > 3% & CFO 350.0m > Net Income 185.8m |
| Net Debt (-102.7m) to EBITDA (371.7m): -0.28 < 3 |
| Current Ratio: 1.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (37.1m) vs 12m ago -1.36% < -2% |
| Gross Margin: 11.01% > 18% (prev 0.11%; Δ 1090 % > 0.5%) |
| Asset Turnover: 156.6% > 50% (prev 143.5%; Δ 13.11% > 0%) |
| Interest Coverage Ratio: 19.68 > 6 (EBITDA TTM 371.7m / Interest Expense TTM 15.5m) |
Altman Z'' 2.01
| A: 0.12 (Total Current Assets 2.08b - Total Current Liabilities 1.67b) / Total Assets 3.46b |
| B: 0.12 (Retained Earnings 400.6m / Total Assets 3.46b) |
| C: 0.09 (EBIT TTM 305.0m / Avg Total Assets 3.43b) |
| D: 0.25 (Book Value of Equity 542.0m / Total Liabilities 2.15b) |
| Altman-Z'' Score: 2.01 = BBB |
Beneish M -3.10
| DSRI: 0.89 (Receivables 1.36b/1.39b, Revenue 5.37b/4.87b) |
| GMI: 0.99 (GM 11.01% / 10.93%) |
| AQI: 1.00 (AQ_t 0.27 / AQ_t-1 0.27) |
| SGI: 1.10 (Revenue 5.37b / 4.87b) |
| TATA: -0.05 (NI 185.8m - CFO 350.0m) / TA 3.46b) |
| Beneish M-Score: -3.10 (Cap -4..+1) = AA |
What is the price of GBF shares?
Over the past week, the price has changed by -2.23%, over one month by +10.34%, over three months by +23.89% and over the past year by +149.98%.
Is GBF a buy, sell or hold?
What are the forecasts/targets for the GBF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 118 | -0.4% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 184.3 | 55.5% |
GBF Fundamental Data Overview January 25, 2026
P/E Trailing = 24.4355
P/S = 0.8475
P/B = 3.4824
P/EG = -171.8
Revenue TTM = 5.37b EUR
EBIT TTM = 305.0m EUR
EBITDA TTM = 371.7m EUR
Long Term Debt = 175.2m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 179.1m EUR (from shortTermDebt, last quarter)
Debt = 365.9m EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = -102.7m EUR (from netDebt column, last quarter)
Enterprise Value = 4.44b EUR (4.55b + Debt 365.9m - CCE 468.6m)
Interest Coverage Ratio = 19.68 (Ebit TTM 305.0m / Interest Expense TTM 15.5m)
EV/FCF = 15.13x (Enterprise Value 4.44b / FCF TTM 293.7m)
FCF Yield = 6.61% (FCF TTM 293.7m / Enterprise Value 4.44b)
FCF Margin = 5.47% (FCF TTM 293.7m / Revenue TTM 5.37b)
Net Margin = 3.46% (Net Income TTM 185.8m / Revenue TTM 5.37b)
Gross Margin = 11.01% ((Revenue TTM 5.37b - Cost of Revenue TTM 4.78b) / Revenue TTM)
Gross Margin QoQ = 11.29% (prev 11.46%)
Tobins Q-Ratio = 1.28 (Enterprise Value 4.44b / Total Assets 3.46b)
Interest Expense / Debt = 1.34% (Interest Expense 4.90m / Debt 365.9m)
Taxrate = 24.90% (18.5m / 74.3m)
NOPAT = 229.1m (EBIT 305.0m * (1 - 24.90%))
Current Ratio = 1.24 (Total Current Assets 2.08b / Total Current Liabilities 1.67b)
Debt / Equity = 0.28 (Debt 365.9m / totalStockholderEquity, last quarter 1.30b)
Debt / EBITDA = -0.28 (Net Debt -102.7m / EBITDA 371.7m)
Debt / FCF = -0.35 (Net Debt -102.7m / FCF TTM 293.7m)
Total Stockholder Equity = 1.29b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.42% (Net Income 185.8m / Total Assets 3.46b)
RoE = 14.35% (Net Income TTM 185.8m / Total Stockholder Equity 1.29b)
RoCE = 20.75% (EBIT 305.0m / Capital Employed (Equity 1.29b + L.T.Debt 175.2m))
RoIC = 16.56% (NOPAT 229.1m / Invested Capital 1.38b)
WACC = 6.36% (E(4.55b)/V(4.91b) * Re(6.79%) + D(365.9m)/V(4.91b) * Rd(1.34%) * (1-Tc(0.25)))
Discount Rate = 6.79% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.71%
[DCF Debug] Terminal Value 86.80% ; FCFF base≈252.9m ; Y1≈312.0m ; Y5≈531.4m
Fair Price DCF = 362.3 (EV 13.38b - Net Debt -102.7m = Equity 13.48b / Shares 37.2m; r=6.36% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 69.11 | EPS CAGR: 10.73% | SUE: 0.27 | # QB: 0
Revenue Correlation: 93.23 | Revenue CAGR: 9.57% | SUE: 2.20 | # QB: 1
EPS next Year (2026-12-31): EPS=6.31 | Chg30d=-0.042 | Revisions Net=-1 | Growth EPS=+20.0% | Growth Revenue=+4.5%