Ferrovial N. V (FER) is overvalued and Comfort Systems USA Inc (FIX) is overvalued.
Both trade above our estimate of their intrinsic value. FIX is the closer of the two: -73%, against -256% for FER.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.5% (average of 3 methods) values the shares at $15.80; the price of $56.30 is 256% above that value, and 81% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 12.3% (average of 3 methods) values the shares at $937.74; the price of $1625.13 is 73% above that value, and 68% of that value comes from beyond year five.
Leak Score 75/100 on 10 of 12 signals
| Metric | FER | FIX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $56.30 | $1625.13 |
| Intrinsic value | $15.80 | $937.74 |
| Margin of safety | -256% | -73% |
| Leak Score | 14/100 (3/12) | 75/100 (10/12) |
| Market cap | $40.8B | $57.2B |
| Revenue growth, 5 years | 7.8% | 26.1% |
| Operating margin | 10.4% | 16.4% |
| Net margin | 6.2% | 12.8% |
| Return on equity | 10.3% | 55.3% |
| Debt to equity | 1.86 | 0.11 |
| P/E | 57.6x | 40.0x |
| Forward P/E | 43.7x | 27.0x |
| P/B | 6.2x | 17.8x |
| Dividend yield | 2.0% | 0.2% |