olivLaw · European equity research
GLOBAL DOMINION ACCESS, S.A. DOM.MC
Spain · BME Madrid · ISIN ES0105130001 · Vertical: Listed companies from Spain
GLOBAL DOMINION ACCESS is a Spanish group of technology, project and industrial operation services, active in telecom systems integration, industrial maintenance and waste management. For its profile, the development of its agent-basis commission business and the progress of percentage-of-completion works matter, both visible in the 2025 figures.
At the close of 05 Nov 2026, GLOBAL DOMINION ACCESS, S.A. (DOM.MC) stock was 2.62 EUR (+2.34% on the day), with dividend yield 3.76%, beta 0.71, 52-week range 2.48–3.53 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 51.7
- neutral
- Bollinger (20, 2)
- 2.48 – 2.72
- in the upper half of the band · %B 0.59 · band width 9.2%
- SMA 50 / 200
- 2.64 / 2.99
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.03 / -0.03
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.6% | +0.4% | −3.0 pp | — |
| 3 months | −6.3% | −3.3% | −3.0 pp | — |
| 6 months | −23.6% | +4.0% | −27.6 pp | — |
| Year to date | −20.8% | +8.1% | −28.9 pp | — |
| 1 year | −17.7% | +10.7% | −28.4 pp | +6.7% |
| 3 years | −18.4% | +50.1% | −68.5 pp | +31.5% |
| 5 years | −44.8% | +43.6% | −88.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1.2 bn | 1.2 bn | 1.0 bn |
| Revenue YoY | unavailable | −4.2% | −9.4% |
| Net income | 44.3 m | 31.2 m | 10.2 m |
| Net income YoY | unavailable | −29.6% | −67.3% |
| Diluted EPS | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | 3.7% | 2.7% | 1.0% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 193.0 m EUR
- Financial debt
- 247.5 m EUR
- Net debt
- 54.5 m EUR
- Equity
- 273.6 m EUR
- Total assets
- 1.6 bn EUR
- Debt / equity
- 0.90x
- Current ratio
- 0.82x
- ROE
- 3.5%
- ROA
- 0.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 1.2 bn | 1.2 bn | 1.0 bn | esef· 20 Oct 2026verified |
| Operating income | 77.4 m | 84.3 m | 69.3 m | esef· 20 Oct 2026verified |
| Interest expense | 48.3 m | 52.8 m | 42.4 m | esef· 20 Oct 2026verified |
| Pre-tax income | 45.6 m | 49.5 m | 23.4 m | esef· 20 Oct 2026verified |
| Income tax | 912.0 k | 7.1 m | 3.6 m | esef· 20 Oct 2026verified |
| Net income | 44.3 m | 31.2 m | 10.2 m | esef· 20 Oct 2026verified |
| Dividend per share | — | 0.10 | — | esef· 08 May 2025verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 225.9 m | 232.5 m | 193.0 m | esef· 20 Oct 2026verified |
| Receivables | 231.1 m | 153.4 m | 120.8 m | esef· 20 Oct 2026verified |
| Inventories | 128.5 m | 134.0 m | 149.0 m | esef· 20 Oct 2026verified |
| Current assets | 933.9 m | 854.2 m | 788.2 m | esef· 20 Oct 2026verified |
| Property, plant & equipment, net | 188.6 m | 172.3 m | 163.0 m | esef· 20 Oct 2026verified |
| Goodwill | 364.5 m | 365.2 m | 364.7 m | esef· 20 Oct 2026verified |
| Intangibles (excl. goodwill) | 52.5 m | 47.5 m | 48.3 m | esef· 20 Oct 2026verified |
| Total assets | 1.8 bn | 1.8 bn | 1.6 bn | esef· 20 Oct 2026verified |
| Long-term debt | 187.3 m | 274.2 m | 247.5 m | esef· 20 Oct 2026verified |
| Current liabilities | 1.2 bn | 990.5 m | 957.2 m | esef· 20 Oct 2026verified |
| Equity | 316.0 m | 312.8 m | 273.6 m | esef· 20 Oct 2026verified |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 77.9 m | 53.0 m | 80.5 m | esef· 20 Oct 2026verified |
| Investing cash flow | -63.8 m | -11.7 m | -30.0 m | esef· 20 Oct 2026verified |
| Financing cash flow | 28.9 m | -33.9 m | -88.6 m | esef· 20 Oct 2026verified |
| Dividends paid | 17.3 m | 16.1 m | 16.9 m | esef· 20 Oct 2026verified |
| Share repurchases | 8.4 m | 11.7 m | 103.0 k | esef· 20 Oct 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.34 – 1.83 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · input data missing
- Dividend discount (DDM)1.34 – 1.83 (Mid 1.55)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 17.2% | 57 (vs peers) | 38% |
| Net margin · Quality | 1.0% | 22 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.6x | 2 (on a fixed band) | 23% |
| Current ratio · Balance sheet | 0.8x | 2 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet2/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality44/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GLOBAL DOMINION ACCESS SA (DOM.MC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.0 bn EUR in 2025; YoY growth -9.4%; net margin 1.0%; ROE 3.7%.
The estimated value range is 1.34–1.83 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.55 EUR, the price of 2.62 EUR leaves a potential of -41.0% (value / price − 1) and a margin of safety of -69.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: 1.0%
- Interest coverage: 1.6x
- Current ratio: 0.8x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Spain · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ELE.MCEndesa SA | 46.9 bn | 21.4 | 26.4% | 10.5% | +0.5% | +43% / +134% |
| AENA.MCAena S.m.e. SA | 42.6 bn | 19.9 | 24.2% | 34.0% | +8.9% | +21% / +79% |
| AMS.MCAmadeus It Group Sociedad Anonima | 26.2 bn | 19.8 | 26.9% | 20.5% | +6.1% | −6% / −5% |
| ACS.MCAcs Actividades De Construccion Y Servicios, S.A. | 21.9 bn | 23.0 | 19.9% | 1.9% | +19.7% | +7% / +134% |
| ANA.MCAcciona SA | 11.7 bn | 14.5 | 16.9% | 4.0% | +5.5% | +24% / +66% |
| FCC.MCFomento De Construcciones Y Contratas S.A. | 5.0 bn | 30.3 | 5.3% | 1.7% | +6.9% | −8% / −14% |
| FDR.MCFluidra S.A. | 3.8 bn | 21.3 | 10.9% | 7.8% | +4.1% | −17% / +4% |
| DIA.MCDistribuidora Internacional De Alimentacion SA | 2.7 bn | 20.6 | 165.6% | 2.2% | −2.7% | +51% / +380,733% |
| CMO.MCCementos Molins S.A. | 2.5 bn | 13.6 | 14.3% | 18.0% | −3.1% | +31% / unavailable |
| ENO.MCElecnor SA | 2.4 bn | 21.9 | 10.5% | 2.5% | +15.1% | −3% / +58% |
| ALM.MCAlmirall S.A. | 2.4 bn | 51.1 | 3.1% | 4.2% | +12.4% | −11% / +32% |
| FAE.MCFaes Farma SA | 1.5 bn | 19.3 | 10.8% | 13.0% | +23.7% | +3% / +57% |
| AEDAS.MCAedas Homes SA | 1.0 bn | 17.1 | 57.8% | 7.0% | −24.8% | +0% / +38% |
| EDR.MCEdreams Odigeo SA | 574.4 m | 11.5 | 21.0% | 7.8% | −0.4% | +40% / −24% |
| EAT.MCAmRest Holdings SE | 506.0 m | 31.4 | 4.3% | 0.6% | +0.1% | −34% / −61% |
| ADX.MCAudax Renovables S.A. | 468.5 m | 23.9 | 9.3% | 1.0% | −5.4% | −23% / −18% |
| ATRY.MCAtrys Health, S.A. | 200.4 m | — | -49.5% | -71.1% | +8.5% | −3% / −29% |
| ENER.MCEcoener, S.A. | 175.6 m | 32.2 | 4.2% | 6.4% | +3.6% | −34% / −6% |
| ADZ.MCAdolfo Dominguez SA | 62.9 m | 38.3 | 9.0% | 1.2% | +1.8% | +39% / +40% |
| DESA.MCDesarrollos Especiales De Sistemas De Anclaje S.A. | 44.8 m | 9.2 | 152.3% | 10.0% | +2.2% | +19% / unavailable |
| EZE.MCGrupo Ezentis SA | 29.0 m | — | — | -9.3% | +147.2% | −30% / −37% |
| CLEO.MCCompañia Levantina De Edificacion Y Obras Publicas SA | 17.3 m | 14.4 | 4.1% | 3.4% | +13.4% | unavailable / unavailable |
| AYC.MCAyco Grupo Inmobiliario, S.A. | 16.4 m | — | -33.8% | — | −100.0% | unavailable / unavailable |
| EBRO.MCEbro Foods, S.A. | 3.0 m | 0.0 | 10.0% | 7.7% | −4.0% | −0% / +19% |
| A3M.MCAtresmedia Corporacion De Medios De Comunicacion, S.A. | — | — | 7.9% | 6.9% | −2.7% | +13% / +60% |
1- and 3-year price returns: for DOM.MC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
GLOBAL DOMINION ACCESS is a Spanish group of technology, project and industrial operation services, active in telecom systems integration, industrial maintenance and waste management. For its profile, the development of its agent-basis commission business and the progress of percentage-of-completion works matter, both visible in the 2025 figures 1.
SWOT
Strengths
- Coverage across three complementary segments, from telecom to waste management, that diversifies revenue sources.
- Integrated service model, from engineering to maintenance, that can retain clients over the long term.
- Experience with agent-basis commission contracts, which allows operating without carrying the full risk of inventory and receivables.
Weaknesses
- Reliance on short-term orders makes revenue sensitive to the flow of new contracts.
- For large works, percentage-of-completion estimates involve judgements that can be revised during the year.
- Reported results depend on how agent contracts are presented compared with principal contracts.
Opportunities
- Demand for energy efficiency and decarbonisation solutions could grow as climate policies advance.
- Expanding renting and refurbished-equipment activity could generate recurring revenue.
- Waste management projects may benefit from public circular-economy plans.
Threats
- Carbon costs passed along the value chain could affect client margins and contract prices.
- Competitive pressure on contracts with telephony operators could reduce margins.
- Physical risks linked to extreme heat may affect staff and photovoltaic installations in the medium term.
Risks
- Revenue recognition as agentmedium
The treatment of agent versus principal contracts affects reported revenue and could be reassessed during reviews.
- Estimates on percentage-of-completion workshigh
Revenue recognised on large works depends on estimated costs and margin through project completion, and revisions can change reported results.
- Dependence on operator contractsmedium
A significant part of activity depends on the investment of a few telephony operators, and budget cuts would affect volumes.
- Climate costs in the value chainmedium
Introducing an emissions regime for fuels and energy could pass costs on to clients and reduce demand.
- Physical risks from temperaturelow
Heat waves may affect staff health and output at photovoltaic plants, with impact estimated for the medium term.
Investment thesis
What would need to be true (bull case)
- If decarbonisation and efficiency policies accelerate, demand for the group's integrated services could rise across all three segments.
- The full-service model, from engineering to maintenance, can retain clients and grow recurring revenue.
- Diversification across telecom, projects and waste management can reduce dependence on a single sector.
What would break the thesis
- If carbon costs are passed on to clients, demand for the group's works could fall in some sectors.
- Revenue on percentage-of-completion works depends on estimates that can be revised, which could affect reported results.
- Concentration on contracts with telephony operators could expose the group to budget cuts or price pressure.
What to watch
- Trend in revenue from the commission-agent business2026
- Level of the net contract position on percentage-of-completion works relative to revenue2026
- Development of renting and refurbished-equipment contractsnext annual report
- Impact of the emissions regime on industrial and telecom clients2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group provides mainly services rather than products, and its activity is organised in three segments: GDT Servicios, GDT Proyectos and GDE. The annual report shows that in some cases device sales are made together with telephony services, with no added value of their own, and that the group sometimes acts as agent and records only the commission 1. This makes reported revenue sensitive to how contracts with operators are treated.
On revenue recognition, the group uses several methods: for time-and-material contracts, revenue is recognised at the agreed rates as staff hours are performed, while fixed-price contracts use the percentage-of-completion method. Larger works or EPCs involve more estimation, and expected losses are recognised as soon as they can be quantified 1.
The group also includes mobile device renting, with full tariff and insurance services. Devices are capitalised as property, plant and equipment and depreciated over the contract term, while the residual value is recovered through the sale of refurbished equipment on the market 1.
Segments
GDT Servicios
The GDT Servicios segment brings together telecom systems integration, technology consulting and industrial maintenance services, including the commission-agent business. Contracts can be time-and-material or fixed-price, and revenue is recognised either over time or at a point in time, depending on the nature of the service 1.
GDT Proyectos
The GDT Proyectos segment offers solutions that make a production process the client already runs more efficient. These are usually contracted at a fixed price, with revenue recognised by the percentage-of-completion method; for larger works, year-end estimates play an important role 1.
GDE
The GDE segment covers turnkey projects and industrial operation and maintenance services, with a focus on reducing environmental impact, including infrastructure for integrated waste management from collection to reintroduction into the production process 1.
Market context
The markets the group serves combine telecommunications, industrial maintenance and waste management, so they are linked to the investment of operators and industry. The annual report does not give the total market size, so any assessment of competitive position should be made carefully, based on the group's public documents.
Contracts with operators and industrial clients are generally short in duration; for percentage-of-completion work, the estimated horizon is up to about a month and a half of billing for technology services and one month for industrial services. This makes revenue sensitive to the pace of new orders 1.
Trends
- Shift toward low-carbon energytailwind
The report identifies climate transition risks and opportunities, including higher demand for certain services. If emission-reduction policies accelerate, demand for efficiency solutions could grow.
- Carbon cost in the value chainheadwind
Introducing a new emissions trading regime may pass costs along the group's value chain, which could compress client margins and pressure contract prices.
- Extreme heat on staff and installationsheadwind
Rising temperatures and heat waves may affect staff health and output at photovoltaic plants. The report considers these physical risks non-critical but with impact in the medium term.
- Decarbonisation policy and public fundingmixed
European and national energy and climate plans could create demand for efficiency, electrification and waste management projects, but implementation could slow if funding is delayed.
Competitive position
The group competes with engineering and technical service companies active in telecommunications, industrial maintenance and waste management. The documents reviewed do not list direct competitors, so the list below reflects only the categories of actors the report points to, without assuming market positions.
The group's stated advantage lies in integrating projects fully, from engineering and installation to maintenance, and in its ability to operate as agent for operators. If these contracts become more frequent, differentiation from specialised suppliers could depend on costs and execution quality.
- Telecom integration and network engineering providers
Companies offering network design, installation and maintenance, competing for the same contracts with telephony operators.
- Industrial maintenance and technical outsourcing firms
Suppliers of industrial services on fixed-price or time-and-material terms, active in the same client sectors.
- Integrated waste management operators
Companies covering collection, treatment and reintroduction of waste into production, competing with the GDE segment.
- EPC and photovoltaic installation providers
Companies carrying out large turnkey works, where the group may compete in the projects and GDE segments.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202520 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / GLOBAL DOMINION ACCESS, S.A. · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.