Sacyr, S.A. (SCYR.MC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+137.6%

€9.72

vs €4.09 price

Levered DCF

€67.22

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.63

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	35.18×	21.2×	13.04×	14.44×	-7.39×	32.63×	-5.31×	4.97×
P/B	2.96×	2.32×	2.57×	3.05×	3.39×	2.09×	1.75×	0.89×
P/S	0.66×	0.51×	0.44×	0.33×	0.3×	0.26×	0.35×	0.27×
EV / EBITDA	7.6×	7.11×	6.32×	8.28×	18.78×	6.39×	9.77×	7.28×
Gross margin	16.3%	68.3%	70.1%	81.9%	65.6%	61.4%	60.8%	59.3%
Operating margin	23.4%	26.8%	27.1%	25.6%	15.6%	10.3%	6.0%	17.3%
Net margin	1.8%	2.5%	3.3%	2.2%	-4.0%	0.8%	-6.6%	5.5%
Current ratio	1.15×	1.14×	1.09×	1.27×	1.11×	0.98×	1.01×	1.12×
Debt / equity	8.25×	8.7×	10.92×	18.46×	19.4×	12.33×	7.68×	4.45×
Interest coverage	1.54×	1.64×	1.56×	2.37×	1.73×	1.54×	0.68×	1.89×
Dividend yield	1.4%	0.3%	1.8%	2.4%	1.4%	2.9%	1.5%	5.1%
Payout ratio	50.8%	7.1%	24.3%	35.7%	-10.6%	94.7%	-8.0%	25.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.2%	11.3%	19.3%	20.6%	-46.2%	6.4%	-33.1%	18.2%
Return on invested capital	4.5%	5.5%	0.8%	5.9%	-18.4%	2.0%	2.4%	5.1%
Return on assets	0.5%	0.6%	0.9%	0.6%	-1.3%	0.2%	-2.0%	1.5%
Free cash flow yield	35.8%	41.2%	30.6%	8.3%	30.9%	35.2%	21.2%	23.5%
Earnings yield	2.8%	4.9%	7.5%	6.8%	-13.7%	3.1%	-18.9%	20.3%
Enterprise value	€9.6B	€9.5B	€9.1B	€9.8B	€7.7B	€6.7B	€6.2B	€4.1B
Net debt / EBITDA	5.17×	5.36×	4.9×	6.9×	15.4×	5.29×	7.48×	5.48×
Cash conversion cycle (days)	35	-299	-191	39	-170	-108	-67	-117