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Spanish residential real estate developer building and selling new homes across Spain's main cities.
Spanish residential real estate developer building and selling new homes across Spain's main cities.
Records revenue when completed homes are handed over, though buyers often sign and pay deposits during construction, so presales show later deliveries. Some projects are built for institutional landlords to rent out and sold in blocks. Land bought earlier supplies future projects.
In one line: A Spanish homebuilder like a smaller Lennar/D.R. Horton.
Moat: none (scale, installed base). Land-bank scale helps but homebuilding is a cyclical, commodity-like business with many local competitors.
Headquarters: Madrid, Spain · Founded: 2015 · Employees: 841
Size Neinor Homes (HOME.MC) is a Spain Real Estate company (Real Estate Development) with a market value of $2.04B, the 51st largest of 97 Spain companies the cockpit tracks. Shares closed at €18.44 on 6 Nov 2026.
Performance Over six months the shares gained 10.3%, against -9.2% for the median peer and +8.2% for the Spain market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 165.3% over the last twelve months (peer median +6.2%); the operating margin is 9.7% (peer median 25.0%).
Valuation It trades at 13.0× forward earnings against a peer median of 13.6× (8th cheapest of 18).
Credit Neinor Homes has 1 bond outstanding ($473M), rated BB- by the agencies and trading like BB- at a weighted spread of 246 bp.
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.24B | €709M | €493M | €594M | €765M |
| Revenue growth | — | +44% | -17% | -22% | — |
| Gross profit | €309M | €203M | €155M | €181M | €209M |
| EBITDA | €128M | €77.9M | €64.9M | €108M | €121M |
| Net income | €132M | €123M | €62.0M | €90.6M | €96.3M |
| Free cash flow | €285M | €209M | €89.5M | -€1.92M | €149M |
| Capital expenditure | €1.28M | €1.11M | €1.48M | €630,000 | €3.27M |
| Total debt | n/a | €1.53B | €517M | €385M | €197M |
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 |
|---|---|---|---|---|---|---|
| Neinor Homes HOME.MC | $2.04B | +10% | +165% | 10% | 13.0× | n/a |
| Metrovacesa MVC.MC | $1.95B | -5% | +58% | 13% | 26.4× | n/a |
| AEDAS Homes AEDAS.MC | $1.10B | +1% | -25% | 10% | 9.1× | 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 | HOME.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.0% | +1.0% | 5th highest of 21 |
| 6-month return | +10.3% | -9.2% | 3rd highest of 21 |
| Distance from 52-week high | -12.2% | -28.3% | 4th highest of 21 |
| Revenue growth (TTM) | +165.3% | +6.2% | highest of 21 |
| Operating margin | 9.7% | 25.0% | 8th lowest of 21 |
| Forward P/E | 13.0× | 13.6× | 8th cheapest of 18 |
| Bond spread | 246 bp | 164 bp | widest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Neinor Homes HOME.MC | Spain | $2.04B | +10% | +165% | 10% | 13.0× | n/a | n/a |
| Altarea SCA ALTA.PA | France | $2.05B | -31% | -20% | 9% | 9.9× | n/a | n/a |
| Fabege FABG.ST | Sweden | $2.02B | -16% | +27% | 59% | 14.7× | n/a | n/a |
| Nanjing Gaoke 600064.SS | China | $2.00B | -4% | +4% | -18% | 5.8× | n/a | n/a |
| Leopalace21 8848.T | Japan | $1.99B | +52% | +3% | 8% | 13.0× | n/a | n/a |
| China Enterprise 600675.SS | China | $1.98B | -15% | -35% | 4% | n/a | n/a | n/a |
| Winnovation Culturaltainment Development Limited 000620.SZ | China | $2.12B | -6% | +14% | -39% | 66.0× | n/a | n/a |
| Metrovacesa MVC.MC | Spain | $1.95B | -5% | +58% | 13% | 26.4× | n/a | n/a |
| Argan ARG.PA | France | $1.95B | +14% | +5% | 78% | 11.2× | n/a | n/a |
| Country Garden Services 6098.HK | Hong Kong | $2.13B | -21% | +11% | 4% | 7.0× | n/a | n/a |
| Zhaojin International Gold 000506.SZ | China | $1.95B | -13% | +42% | 27% | n/a | n/a | n/a |
| Entra ENTRA.OL | Norway | $1.95B | -4% | -9% | 82% | 15.2× | n/a | n/a |
| Hufvudstaden HUFV-A.ST | Sweden | $2.14B | -5% | -4% | 47% | 20.9× | n/a | n/a |
| Sirius Real Estate SRE.L | United Kingdom | $2.14B | +1% | +13% | 41% | 13.6× | n/a | n/a |
| Lumo Homes LUMO.HE | Finland | $2.14B | -3% | +1% | 59% | 15.8× | n/a | n/a |
| Hang Lung 0010.HK | Hong Kong | $2.14B | -25% | +9% | 53% | n/a | n/a | n/a |
| Brigade Enterprises BRIGADE.NS | India | $1.93B | -4% | -4% | 23% | 20.0× | n/a | n/a |
| Poly Property Services 6049.HK | Hong Kong | $1.92B | -14% | +8% | 11% | 7.9× | n/a | n/a |
| Newmark NMRK | United States | $2.16B | -29% | +16% | 7% | 6.1× | n/a | n/a |
| Hysan Development 0014.HK | Hong Kong | $2.16B | -20% | -2% | 72% | 7.5× | n/a | n/a |
| Green Development Electricity Group of Tianjin 000537.SZ | China | $2.19B | -28% | +13% | 31% | 37.3× | n/a | n/a |
Neinor Homes has 1 bond outstanding with $473M face value. The agencies rate it BB-; its bonds trade like BB-. Weighted yield 5.55%, a spread of 246 bp over government bonds.