Eiffage FGR.PA
Eiffage is one of Europe's largest construction and concessions companies, operating in public works, building, energy, and infrastructure, with a business model that combines project contracting with long-term concession management. Eiffage combines a very attractive valuation (P/E 9.65, FCF yield 19.81%) with a record order book and contracts in energy and AI infrastructure, although its debt of 2.81x EBITDA and a hiking ECB add financial pressure.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Eiffage is one of Europe's largest construction and concessions companies, operating in public works, building, energy, and infrastructure, with a business model that combines project contracting with long-term concession management. Eiffage combines a very attractive valuation (P/E 9.65, FCF yield 19.81%) with a record order book and contracts in energy and AI infrastructure, although its debt of 2.81x EBITDA and a hiking ECB add financial pressure.
Score by category
| Category | Score |
|---|---|
| Financial health | 4.1 |
| Quality / Moat | 6.6 |
| Valuation | 8.9 |
| Growth | 5.5 |
| Dividend | 8.6 |
| Momentum | 4.5 |
| Risk & Context | 6.5 |
OVERALL SCORE: 6.6/10
Context and risks
Elevated governance risk in France and exposure to a rising rate environment in Europe (ECB hiking), which makes refinancing a net debt of 2.81x EBITDA more expensive. However, the record order book and exposure to electrical infrastructure (AI capex) partially mitigate the risk.
News considered in the analysis
- Eiffage consortium secures second contract for German offshore converter — Nuevo contrato en el segmento de energía offshore, refuerza la cartera de pedidos récord y la visibilidad de ingresos a medio plazo.
- Eiffage SA (EFGSY) (H1 2026) Earnings Call Highlights: Record Order Book and Strategic ... — Confirmación de cartera de pedidos récord, ya conocida por el mercado, pero refuerza la visibilidad de ingresos.
- Eiffage secures two French hospital contracts worth $154m — Contratos de edificación en Francia, mercado doméstico clave, con importe moderado.
- Eiffage consortium secures $127m contract to rebuild bridges in Nuremberg — Contrato de infraestructuras en Alemania, refuerza la presencia internacional y la cartera.
- Eiffage wins $140m contract to build power substation for Campus AI site — Contrato vinculado al ciclo de capex de IA, posiciona a Eiffage como beneficiaria de la demanda de infraestructura eléctrica.
Verdict: Hold or buy on dips: the valuation and order book offer a good risk/reward profile, but watch European rates and debt execution.
Main risk: The main risk is the combination of high leverage (Debt/Equity 172.29%) with a hiking ECB, which makes refinancing more expensive and can compress margins in a business with tight operating margins (8.04%).
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