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NASDAQ · Industrials

FERROVIAL SE FER

Ferrovial SE is a leading global infrastructure developer with its business focus in North America. Its core assets are long-term concession projects such as toll roads and airports. The company has achieved revenue growth through dynamic pricing and fee flexibility, has solid cash flow, and continues to distribute dividends to shareholders. The main entry points for investment analysis are the value-added potential of its high-quality concession asset portfolio, strong demand in the North American market, and PPP project reserves.

Sources Company earnings and call materials quartr.com
Military/Government/Technical

Company profile

Business mix

  • Infrastructure concessions contributed 89% of the equity value, with highways accounting for 86% and including airports, energy and engineering construction.
  • The core assets are toll roads and managed lanes in the United States and Canada, with an average franchise period of 55 years.
  • Value creation through asset recycling and dividend growth, with €6.5 billion in dividends from infrastructure assets over the past decade.

Current key questions

  • Economic cycles and policy changes in the North American market (accounting for 86% of equity value) may affect traffic volume and toll policies, but long-term concession agreements and dynamic pricing mechanisms provide anti-inflation resilience.
  • A large project pipeline (multiple PPP tenders in 2026–2027) brings growth opportunities, but large capital expenditures, approvals and construction risks may affect returns.
  • Changes in the interest rate environment may affect discount rates and asset valuations, but companies increase asset values ​​by reducing risk.
Holders 1 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 46.59 FCF 3.02% Buyback 0.76%
2026-06-07

Current firm holders

Firm Weight Value Filing period
TCI Fund Management Chris Hohn 2.9% $1.3B 2026-03-31

Recent trading changes over the last 3 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 1 Last 3 13F filing periods
Net reducers 0 Last 3 13F filing periods
Unchanged holders 0 Share count unchanged
Increase amount $81.3M Estimated from net added shares
Reduction amount $0 Estimated from net reduced shares
Net share change / base shares +6.5% +1,269,548 / 19,470,666
TCI Fund Management Chris Hohn 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Unchanged Shares 0.0% 13F value change $0
13F 2025-12-31 Filed 2026-02-17
Minor increase Shares 6.5% 13F value change +$233.7M
13F 2026-03-31 Filed 2026-05-15
Unchanged Shares 0.0% 13F value change $0
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 19,470,666 Last 3 periods +1,269,548 (+6.5%) Total shares 20,740,214 Value $1.3B

Recent mentions

No public mentions.