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Talgo S.A./€TLGO

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About Talgo S.A.

Talgo S.A. is a Spanish company specializing in the design, manufacture, and maintenance of high-speed and intercity trains. Founded in 1942, the company is headquartered in Madrid, Spain. Talgo's product portfolio includes very high-speed trains, intercity trains, and locomotives, as well as maintenance equipment such as underfloor wheel lathes and measuring devices. The company operates manufacturing plants in Spain and Kazakhstan, serving railway operators worldwide, including Amtrak, Russian Railways, and Deutsche Bahn. Talgo is known for its innovative articulated train design, which features independent wheels and shared bogies between coaches, contributing to reduced weight and improved stability.
Ticker
€TLGO
Sector
Industrials
Primary listing
BME
Employees
3,622
Headquarters
Madrid, Spain
Website
www.talgo.com

Talgo S.A. Metrics

BasicAdvanced
€288M
-
-€0.46
0.96
-

What the Analysts think about Talgo S.A.

Analyst ratings (Buy, Hold, Sell) for Talgo S.A. stock.
Analyst projections of the future price of Talgo S.A. stock.

Bulls say / Bears say

Talgo’s order book reached a record €6.24bn at June 2026, with €2.15bn of new awards in the first half already above its full-year target. Major wins include a €1.33bn Saudi train and maintenance contract and a €756m Swedish fleet contract. (Talgo)
First-half revenue rose 39.1% to €375.8m and EBITDA recovered to €31.7m, with Talgo reporting scheduled deliveries to Deutsche Bahn and handovers to DSB. If it can sustain this improvement as production grows, earnings could recover from recent losses. (Talgo)
The Renfe settlement releases around €200m in held payments and guarantees and adds a €132m train-conversion job. It also raises maintenance payments by about 29%, while pushing penalty payments out to 2032, easing near-term cash pressure. (International Railway Journal)
Cracks in the Avril train bogies remain a reliability concern: Renfe withdrew more units in August and doubled inspection frequency. Further availability problems could damage Talgo’s reputation and add cost, even though Renfe says the trains are safe. (Railway Gazette International)
Net financial debt rose to €496.9m at June, while Talgo still reported a €27m first-half net loss and higher financial costs. The company’s year-end leverage target depends on delivering stronger results and easing working-capital demands. (Talgo, Hispanidad)
Talgo needs to expand production sharply to work through its record backlog, but its capacity plan calls for output to double by 2028 while several major programmes are under way. Its ICE L trains are already more than two years late, underlining the risk that delivery bottlenecks could delay cash generation. (International Railway Journal, The Rail Agenda)
Data summarised monthly by Lightyear AI. Last updated on 6 Nov 2026.

Talgo S.A. Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Talgo S.A. Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.