Técnicas Reunidas S.A./€TRE
1D1W1MYTD1Y5YMAX
Capital at risk
About Técnicas Reunidas S.A.
Técnicas Reunidas S.A. is an engineering and construction company headquartered in Madrid, Spain. Specializing in the energy sector, its primary focus is on the design and management of industrial facilities. The company offers a range of services, including the development of oil and gas production and processing facilities, petrochemical and power plants, and renewable energy projects. Founded in 1959, Técnicas Reunidas operates globally, undertaking projects across Europe, the Middle East, Asia, and Latin America. Its strategic positioning is underscored by its technical expertise in handling complex engineering tasks and its capability to execute large-scale projects in diverse environments.
- Ticker
- €TRE
- Sector
- Energy
- Primary listing
- BME
- Employees
- 12,531
- Headquarters
- Madrid, Spain
- Website
- www.tecnicasreunidas.es
TRE Metrics
BasicAdvanced
€2B
13.03
€1.98
1.22
-
Price and volume
Market cap
€2B
Beta
1.22
52-week high
€38.54
52-week low
€24.22
Average daily volume
185K
Financial strength
Current ratio
1.233
Quick ratio
1.22
Long term debt to equity
1.443
Total debt to equity
1.674
Interest coverage (TTM)
7.21%
Profitability
EBITDA (TTM)
270.281
Gross margin (TTM)
23.26%
Net profit margin (TTM)
2.33%
Operating margin (TTM)
4.05%
Effective tax rate (TTM)
32.53%
Revenue per employee (TTM)
€540,000
Management effectiveness
Return on assets (TTM)
2.94%
Return on equity (TTM)
28.41%
Valuation
Price to earnings (TTM)
13.032
Price to revenue (TTM)
0.303
Price to book
3.21
Price to tangible book (TTM)
3.5
Price to free cash flow (TTM)
16.508
Free cash flow yield (TTM)
6.06%
Free cash flow per share (TTM)
1.563
Growth
Revenue change (TTM)
32.96%
Earnings per share change (TTM)
46.31%
3-year revenue growth (CAGR)
12.60%
10-year revenue growth (CAGR)
3.94%
3-year earnings per share growth (CAGR)
16.34%
10-year earnings per share growth (CAGR)
7.73%
Bulls say / Bears say
Order intake reached €5.9 billion in the first half, up 54% year on year, lifting the backlog to a record €13.9 billion. This gives Técnicas Reunidas strong revenue visibility and supports management’s expectation of more than €8 billion of new awards in 2026. (Técnicas Reunidas, Renta 4)
Underlying EBIT rose 24% in the first half, while second-quarter EBIT reached a 5% margin, the best quarterly level in ten years. Net cash remained positive at €344 million and the company kept its 2026 targets of sales above €6.5 billion and underlying EBIT above €325 million. (Técnicas Reunidas, Renta 4)
Power generation and North America are becoming new growth engines alongside the established Middle East business. The €570 million Greenlight project in Canada, serving a 932 MW data-centre power plant, provides evidence that the diversification strategy is beginning to produce sizeable awards. (Técnicas Reunidas)
The Middle East conflict has already forced a €45 million provision, and reported first-half EBIT fell 13% even as sales rose 12%. Continued disruption could create further costs or delays, while Bankinter cut its price target because geopolitical and oil-price uncertainty remained elevated. (Técnicas Reunidas, The Corner)
Financial headroom is less comfortable than the headline net-cash figure suggests: net cash at June was €344 million, down from €422 million a year earlier, while borrowings rose to €1.04 billion from €811 million at December. Higher leverage could restrict flexibility if projects consume more working capital than expected. (Cinco Días)
Execution risk remains material because 64% of the backlog is tied to upstream and refining, while major awards are delivered on fixed-price EPC terms. Cost overruns or delays could therefore turn strong order growth into weaker margins and additional provisions. (Cinco Días, Renta 4)
Data summarised monthly by Lightyear AI. Last updated on 15 Sept 2026.
Upcoming events
No upcoming events
Funds containing TRE
AllEURGBPUSD
Fund name | Fund size | €TRE weighting |
|---|---|---|
Xtrackers Spain€XESD | €269M | 0.14% |
Xtrackers MSCI Europe Small Cap€DX2J | €3.2B | 0.09% |
Xtrackers MSCI Europe Small Cap£XXSC | £2.8B | 0.09% |
iShares MSCI World Small Cap$WSML | $9B | 0.02% |
iShares MSCI World Small Cap€IUSN | €7.8B | 0.02% |
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.