Loading…
German industrial-services company providing engineering, maintenance and turnaround services to chemical, energy and utility plants.
German industrial-services company providing engineering, maintenance and turnaround services to chemical, energy and utility plants.
Mostly service contracts rather than construction: crews maintain, repair and upgrade plants that cannot stop, often on multi-year framework agreements, so revenue recurs. Since 2014 it has shed its construction and property units to concentrate on industrial services; Europe is the main base.
In one line: A German Jacobs Engineering/service-focused peer.
Moat: narrow (customer qualification, installed base, process know-how). Long-term maintenance contracts and site-specific know-how at customer plants, but competes in a fragmented industrial-services market.
Headquarters: Mannheim, Germany · Founded: 1880 · Employees: 30,749
Size Bilfinger (GBF.DE) is a Germany Industrials company (Engineering & Construction) with a market value of $2.57B, the 97th largest of 205 Germany companies the cockpit tracks. Shares closed at €61.40 on 6 Nov 2026.
Performance Over six months the shares fell 31.0%, against -6.9% for the median peer and +2.6% for the Germany market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +8.9%); the operating margin is 5.0% (peer median 5.4%).
Valuation It trades at 15.5× forward earnings against a peer median of 13.5× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.7 points above its cost of capital (6.6% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €5.57B | €5.43B | €5.04B | €4.49B | €4.31B |
| Revenue growth | — | +8% | +12% | +4% | — |
| Gross profit | €618M | €617M | €550M | €464M | €438M |
| EBITDA | €421M | €408M | €361M | €262M | €228M |
| Net income | €188M | €176M | €180M | €182M | €28.2M |
| Free cash flow | €204M | €299M | €148M | €57.5M | €83.3M |
| Capital expenditure | €70.6M | €72.1M | €63.2M | €58.7M | €51.7M |
| Total debt | €222M | €374M | €377M | €609M | €444M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bilfinger GBF.DE | $2.57B | -31% | +6% | 5% | 15.5× | -6.7% |
| Jacobs Solutions J | $17.4B | +26% | +20% | 5% | 18.6× | 15.8% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| Worley WOR.AX | $3.39B | -16% | -5% | 4% | 12.6× | 5.2% |
| Spie SPIE.PA | $8.64B | -8% | +3% | 6% | 14.5× | 8.6% |
| Team 4967.TW | $783M | -7% | +91% | 35% | 39.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GBF.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.8% | -0.9% | 3rd highest of 21 |
| 6-month return | -31.0% | -6.9% | 2nd lowest of 21 |
| Distance from 52-week high | -52.5% | -24.1% | lowest of 21 |
| Revenue growth (TTM) | +5.8% | +8.9% | 7th lowest of 21 |
| Operating margin | 5.0% | 5.4% | 10th lowest of 21 |
| Forward P/E | 15.5× | 13.5× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -6.7% | -0.7% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +9.4% | +9.0% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -16.1 pp | -6.9 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | +7.7 pp | +4.3 pp | 10th highest of 21 |
| EV / EBITDA | 5.4× | 9.1× | 2nd cheapest of 15 |
| Net debt / EBITDA | -0.0× | 0.3× | 7th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bilfinger GBF.DE | Germany | $2.57B | -31% | +6% | 5% | 15.5× | -6.7% | +9.4% |
| Tecnicas Reunidas TRE.MC | Spain | $2.57B | -5% | +33% | 4% | 13.5× | -2.5% | +12.9% |
| Shanghai Tunnel Engineering 600820.SS | China | $2.56B | -9% | -9% | 6% | 8.0× | -0.6% | +1.4% |
| Toda 1860.T | Japan | $2.58B | -3% | +10% | 6% | 11.1× | -0.8% | +5.0% |
| Cemindia Projects CEMPRO.NS | India | $2.58B | +36% | +10% | 9% | 32.8× | 42.2% | +29.9% |
| Koninklijke Heijmans HEIJM.AS | Netherlands | $2.55B | -7% | +11% | 6% | 13.5× | 3.9% | +9.7% |
| Aecon ARE.TO | Canada | $2.59B | -4% | +23% | 2% | 26.3× | 5.1% | +8.3% |
| Keller KLR.L | United Kingdom | $2.63B | +24% | +10% | 7% | 11.8× | 4.4% | +8.4% |
| Kalpataru Projects International KPIL.NS | India | $2.48B | +6% | +15% | 6% | 18.6× | 14.9% | +16.0% |
| Bird Construction BDT.TO | Canada | $2.70B | +28% | +7% | 4% | 21.5× | 6.1% | +17.7% |
| Arcplus 600629.SS | China | $2.43B | -17% | -25% | -3% | 38.4× | n/a | n/a |
| AF Gruppen AFG.OL | Norway | $2.42B | +13% | +11% | 5% | 16.2× | -9.7% | +3.4% |
| Webuild WBD.MI | Italy | $2.39B | -22% | +2% | -1% | 6.5× | -2.1% | +24.4% |
| Elecnor ENO.MC | Spain | $2.76B | -30% | +7% | 4% | 17.0× | -4.9% | +12.3% |
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| Penta-Ocean Construction 1893.T | Japan | $2.25B | -29% | +7% | 7% | 8.9× | n/a | n/a |
| Jgc 1963.T | Japan | $2.94B | -18% | -15% | 6% | 10.0× | n/a | n/a |
| Grenergy Renovables GRE.MC | Spain | $2.24B | -40% | +8% | 23% | 18.9× | n/a | n/a |