olivLaw · European equity research
URBAS GRUPO FINANCIERO, S.A. UBS.MC
Spain · BME Madrid · ISIN ES0182280018 · Vertical: Listed companies from Spain
Urbas Grupo Financiero is a Spanish group active in construction, real estate development and property assets, currently going through a restructuring of its debt and business model. In fiscal 2023 it reported a positive consolidated net result of 14.6 million euros, while adjusted net financial debt fell to 200.1 million euros.
At the close of 04 Nov 2026, URBAS GRUPO FINANCIERO, S.A. (UBS.MC) stock was 0.00 EUR (+0.00% on the day), with P/E 5.5 on diluted EPS of 0.00 EUR over the last 12 months, beta 0.19, 52-week range 0.00–0.00 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)
- 43.0
- weak (30–45)
- Bollinger (20, 2)
- 0.00 – 0.00
- in the lower half of the band · %B 0.42 · band width 9.0%
- SMA 50 / 200
- 0.00 / 0.00
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD above 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 | unavailable | −0.6% | unavailable | — |
| 3 months | unavailable | −4.2% | unavailable | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +4.9% |
| 3 years | −61.1% | +49.8% | −111.0 pp | +30.5% |
| 5 years | −86.5% | +42.8% | −129.3 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
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.
Today's P/E sits at the 0 percentile of its own 3-quarter history (min 8.5, median 11.3, max 27.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 60.0 m | 16.2 m | 16.8 m |
| Net income YoY | unavailable | −72.9% | +3.3% |
| Diluted EPS | 0.00 | 0.00 | 0.00 |
| Diluted EPS YoY | unavailable | −76.6% | +2.7% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 36.2 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 621.7 m EUR
- Total assets
- 1.2 bn EUR
- Debt / equity
- unavailable
- Current ratio
- 2.66x
- ROE
- 2.8%
- ROA
- 1.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Income statement · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Operating income | 14.0 m | 16.7 m | 16.6 m | esef· 09 Jul 2024verified |
| Depreciation & amortisation | 6.9 m | 9.3 m | 9.8 m | esef· 09 Jul 2024verified |
| EBITDA | 20.9 m ≈ | 26.0 m ≈ | 26.4 m ≈ | esef· 09 Jul 2024derived |
| Interest expense | 31.1 m | 17.3 m | 17.4 m | esef· 09 Jul 2024verified |
| Pre-tax income | 60.5 m | 17.6 m | 12.0 m | esef· 09 Jul 2024verified |
| Income tax | 388.0 k | 1.0 m | -2.7 m | esef· 09 Jul 2024verified |
| Net income | 60.0 m | 16.2 m | 16.8 m | esef· 09 Jul 2024verified |
| Diluted EPS | 0.00 | 0.00 | 0.00 | esef· 09 Jul 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 26.1 m | 31.4 m | 36.2 m | esef· 09 Jul 2024verified |
| Receivables | 97.4 m | 121.0 m | 109.3 m | esef· 09 Jul 2024verified |
| Current assets | 828.7 m | 859.7 m | 834.1 m | esef· 09 Jul 2024verified |
| Property, plant & equipment, net | 25.1 m | 24.6 m | 34.6 m | esef· 09 Jul 2024verified |
| Total assets | 1.2 bn | 1.2 bn | 1.2 bn | esef· 09 Jul 2024verified |
| Accounts payable | 169.9 m | 187.6 m | 160.5 m | esef· 09 Jul 2024verified |
| Current liabilities | 362.9 m | 366.1 m | 314.1 m | esef· 09 Jul 2024verified |
| Equity | 586.1 m | 594.5 m | 621.7 m | esef· 09 Jul 2024verified |
Cash flow · EUR
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: 3 of at least 6
- score weight coverage: 20.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
21% · 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: 0.01 – 0.01 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 · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E0.01 – 0.01 (Mid 0.01)19 companies used · median multiple 19.9x · quartiles 15.8x – 22.4xACS.MC, ADX.MC, AEDAS.MC, AENA.MC, AMS.MC, ANA.MC, CAF.MC, CLEO.MC, CMO.MC, DESA.MC, DIA.MC, EAT.MC, EDR.MC, ELE.MC, ENER.MC, ENO.MC, FAE.MC, FCC.MC, FDR.MC
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
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: 3 of at least 6; score weight coverage: 20.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| 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 | 1.0x | 0 (on a fixed band) | 30% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 20% |
| P/E (TTM) · Valuation | 5.5x | 96 (vs peers) | 50% |
| 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 sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial96/100 · 1/3 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
URBAS GRUPO FINANCIERO SA (UBS.MC). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: ROE 2.8%.
The estimated value range is 0.01–0.01 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.01 EUR, the price of 0.00 EUR leaves a potential of 260.9% (value / price − 1) and a margin of safety of 72.3% (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: 3 of at least 6; score weight coverage: 20.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.7x
- P/E (TTM): 5.5x
- The price is below the estimated value range
What contradicts it
- Interest coverage: 1.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Spain · same country · compared with 40 companies
Multiples and returns vs the median
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 UBS.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
Urbas Grupo Financiero is a Spanish group active in construction, real estate development and property assets, currently going through a restructuring of its debt and business model. In fiscal 2023 it reported a positive consolidated net result of 14.6 million euros, while adjusted net financial debt fell to 200.1 million euros 1.
SWOT
Strengths
- The group holds a property portfolio with significant unrealised gains, valued above its book value, which provides a collateral base.
- Positive working capital indicates a short-term funding structure that management considers balanced.
- Adjusted net financial debt was reduced in the latest year, which strengthens the leverage position.
Weaknesses
- The construction segment posted a negative operating result in domestic activity.
- The net result is modest relative to total assets, and restructuring costs weighed on profitability.
- The group reported liquidity tensions in construction, and continuity depends on new financing still under negotiation.
Opportunities
- Completing the restructuring could lower costs and improve cash flows.
- Monetising the property portfolio could generate additional revenue if market conditions remain favourable.
- Cancelling debts currently under negotiation could reduce the financial burden.
Threats
- Market conditions in construction could weaken demand and affect sales timing.
- Dependence on new financing lines could become a problem if negotiations are delayed.
- Asset valuations, made by external experts, could be revised downwards and affect future results.
Risks
- Going concernhigh
The report states the financial statements were prepared on a going-concern basis, which depends on the success of the restructuring and new financing 1.
- Liquidity in constructionhigh
Liquidity tensions in construction could limit the group's ability to meet current obligations 1.
- Remaining leveragemedium
Adjusted net financial debt remains substantial relative to operating result, which could affect financial flexibility 1.
- Property valuationsmedium
Asset values depend on external appraisals, and a market correction could reduce the unrealised gains reported 1.
- Restructuring costslow
Redundancy and advisory costs could continue to weigh on results if the process is prolonged 1.
Investment thesis
What would need to be true (bull case)
- If the restructuring is completed successfully, the group could benefit from lower costs, reduced debt and monetisation of its property portfolio.
- Positive working capital and unrealised gains in assets could provide a margin of safety in difficult periods.
- The downward trend in debt, started after the 2021 restructuring, could continue in the coming years.
What would break the thesis
- If liquidity tensions persist, the group could be forced to accept more expensive financing terms.
- The construction segment is loss-making, and a delay in restructuring could widen losses.
- Asset values depend on appraisals that may be revised, and a market decline could reduce unrealised gains.
What to watch
- Completion of negotiations for new financing lines and cancellation of debts under discussion2024
- Development of the construction segment result after the restructuring2024
- Level of adjusted net financial debt compared with the prior yearnext annual report
- Confirmation of the going-concern basis in the next financial statementsnext annual report
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 Urbas group operates through several subsidiaries, mainly in construction and property development, and in managing property assets including office buildings, commercial premises and garages, some held for long-term rental 1. Consolidated revenue was 594.9 million euros in fiscal 2023, and EBITDA was 26.4 million euros 1. The annual report also describes an ongoing restructuring of the construction business, aimed at adjusting staff structure to current activity levels 1.
Segments
Construction
The construction segment recorded a negative operating result in fiscal 2023, mainly in domestic activity, affected by redundancy costs under the restructuring and by liquidity tensions 1. The report states that third-party and intragroup order books support the continuity of operations 1.
Market context
The construction and real estate market in Spain, where the group mainly operates, is described in the report through the need to align the cost base with current activity and through independent valuations of land and properties 1. Exact market size data is not presented in the analysed source.
Trends
- Debt restructuringtailwind
The group continued the reduction of financial debt started in 2021, and adjusted net debt declined, which could improve leverage if the trend continues 1.
- Liquidity tensions in constructionheadwind
The report acknowledges liquidity tensions in the construction business, although the group states it has existing financing lines and new lines under negotiation 1.
- Staff structure adjustmentmixed
Redundancy costs in fiscal 2023 indicate an adjustment of staff structure, which could lower costs over the medium term but weighs on the current year result 1.
- Monetisation of property assetstailwind
Unrealised gains in property assets could support the value of the portfolio if sales or rentals occur at appraised levels 1.
Competitive position
The analysed annual report does not explicitly identify competitors of the Urbas group. A comparison with other construction and real estate players in Spain would require additional sources, as no competing company is named in the text provided 1.
- Not identified in the analysed source
Competitors are not named in the annual report provided, so no tickers are assigned.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202309 Jul 2024
- Annual report 202209 May 2023
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / URBAS GRUPO FINANCIERO, S.A. · 31 Dec 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.