Ferrovial SE (FER) Income Statement
FER 2025 at a glance
Fiscal year ended December 31, 2025 · eurosFER revenue and net income
Where FER's revenue goes
2025Each bar shows an amount and its share of revenue. FER kept 9.2% of revenue as net income.
FER profit margins
FER growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.2% | +8.4% | +8.1% | −0.1% |
| Gross profit | +5.0% | +13.6% | +15.3% | +12.1% |
| Operating income | +11.9% | +39.1% | +41.2% | +2.4% |
| Net income | −72.6% | +91.2% | — | +2.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FER income statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €9.63B | €9.15B | €8.51B | €7.55B | €6.91B | €6.53B | €6.05B | €5.74B | €5.15B | €10.76B |
| Cost of revenue | €7.23B | €6.87B | €6.38B | €5.92B | €5.47B | €5.36B | €4.78B | €4.42B | €3.91B | €8.49B |
| Gross profit | €2.39B | €2.28B | €2.13B | €1.63B | €1.44B | €1.18B | €1.27B | €1.32B | €1.24B | €2.27B |
| Research & development | — | — | — | — | — | €52.0M | €45.0M | — | — | — |
| Sales, general & admin | €2.64B | €2.47B | €2.33B | €449.0M | €323.0M | €276.0M | €317.0M | €254.0M | €364.0M | €360.0M |
| Total operating expenses | €1.43B | €1.42B | €1.49B | €1.27B | €1.10B | €1.00B | €1.34B | €963.0M | €844.0M | €847.0M |
| Operating income | €967.0M | €864.0M | €642.0M | €359.0M | €339.0M | €172.0M | −€61.0M | €355.0M | €399.0M | €1.42B |
| Interest income | €147.0M | €212.0M | €250.0M | €112.0M | €46.0M | €60.0M | — | — | — | — |
| Interest expense | €438.0M | €477.0M | €467.0M | €354.0M | €271.0M | €310.0M | €329.0M | €287.0M | €305.0M | €428.0M |
| Income before taxes | €1.07B | €3.62B | €656.0M | €268.0M | €966.0M | −€427.0M | €504.0M | €485.0M | €470.0M | €616.0M |
| Income taxes | −€60.0M | €145.0M | €42.0M | €30.0M | −€9.0M | −€34.0M | €47.0M | €25.0M | €46.0M | €233.0M |
| Net income | €888.0M | €3.24B | €460.0M | €127.0M | €748.0M | −€424.0M | €268.0M | −€478.0M | €454.0M | €376.0M |
| EBITDA | €2.00B | €4.54B | €1.52B | €921.0M | €1.51B | €405.0M | €119.0M | €483.0M | €514.0M | €1.76B |
| Gross margin | 24.9% | 24.9% | 25.0% | 21.6% | 20.8% | 18.0% | 21.1% | 23.0% | 24.1% | 21.1% |
| Operating margin | 10.0% | 9.4% | 7.5% | 4.8% | 4.9% | 2.6% | −1.0% | 6.2% | 7.7% | 13.2% |
| Net margin | 9.2% | 35.4% | 5.4% | 1.7% | 10.8% | −6.5% | 4.4% | −8.3% | 8.8% | 3.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €4.70B | €2.10B | €5.16B | €2.58B | €4.47B | €2.23B | €4.88B | €2.44B | €4.27B | €2.13B | €4.57B | €2.29B |
| Cost of revenue | €4.21B | €291.0M | €4.62B | €343.0M | €4.04B | €261.5M | €4.37B | €345.0M | €3.88B | €250.0M | €4.18B | €316.0M |
| Gross profit | €491.0M | €2.10B | €536.0M | €2.24B | €431.0M | €1.97B | €515.0M | €2.10B | €385.0M | €1.88B | €390.0M | €1.97B |
| Total operating expenses | €1.80B | €1.90B | €2.00B | €2.00B | €1.62B | €1.62B | €816.5M | €816.5M | €1.61B | €1.61B | €1.76B | €1.76B |
| Operating income | €491.0M | €197.0M | €536.0M | €235.5M | €431.0M | €353.0M | €515.0M | €1.28B | €385.0M | €275.5M | €390.0M | €212.5M |
| Interest expense | €208.0M | — | €216.0M | — | €138.0M | €69.0M | €68.0M | €68.0M | — | — | — | — |
| Income before taxes | €440.0M | €197.0M | €406.0M | €203.0M | €664.0M | €332.0M | €3.08B | €1.54B | €546.0M | €273.0M | €474.0M | €237.0M |
| Income taxes | €47.0M | €23.5M | −€75.0M | −€37.5M | €15.0M | €7.5M | €108.0M | €54.0M | €37.0M | €18.5M | €22.0M | €11.0M |
| Net income | €258.0M | €197.0M | €348.0M | €174.0M | €540.0M | €270.0M | €2.83B | €1.41B | €414.0M | €207.0M | €346.0M | €173.0M |
| EBITDA | €746.0M | €324.5M | €888.0M | €452.0M | €1.03B | €327.5M | €3.37B | €371.5M | €764.0M | €301.5M | €674.0M | €298.0M |
| Gross margin | 10.4% | 100.0% | 10.4% | 86.7% | 9.6% | 88.3% | 10.6% | 85.9% | 9.0% | 88.3% | 8.5% | 86.2% |
| Operating margin | 10.4% | 9.4% | 10.4% | 9.1% | 9.6% | 15.8% | 10.6% | 52.4% | 9.0% | 12.9% | 8.5% | 9.3% |
| Net margin | 5.5% | 9.4% | 6.7% | 6.7% | 12.1% | 12.1% | 57.9% | 57.9% | 9.7% | 9.7% | 7.6% | 7.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported in FER's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FER financial results
In fiscal year 2025 (ended December 31, 2025), Ferrovial reported revenue of €9.6 billion, up 5.2% from the year before. It had net income of €888.0 million (down 72.6%), a net profit margin of 9.2%. Over five years revenue grew at an average rate of 8.1% a year. Figures are in euros, the currency of its financial statements.
See the FER stock overview for the latest quote and news, or the FER chart for price history and technical indicators.
FER income statement FAQ
What is Ferrovial's annual revenue?
Ferrovial reported total revenue of €9.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 5.2% from €9.1 billion the previous year.
Is Ferrovial profitable?
Yes. Ferrovial reported net income of €888.0 million in fiscal 2025, a net profit margin of 9.2%; its operating margin was 10.0%.
What is Ferrovial's gross margin?
Ferrovial's gross margin was 24.9% in fiscal 2025: for every $100 of revenue, Ferrovial kept $25 after the direct cost of its products and services.
How fast is Ferrovial growing?
Revenue grew 8.1% a year on average over the last five fiscal years, from €6.5 billion to €9.6 billion.
When does Ferrovial's fiscal year end?
Ferrovial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.