olivLaw · European equity research
COMPAÑIA LEVANTINA DE EDIFICACION Y OBRAS PUBLICAS SA CLEO.MC
Spain · BME Madrid · ISIN ES0158300410 · Vertical: Listed companies from Spain
The CLEOP group operates in construction and sociosanitary services, two segments that depend on contracts with public administrations and private clients. Its 2025 annual report describes a company aiming for sustainable growth and a strategy focused on compliance and social responsibility.
At the close of 03 Nov 2026, COMPAÑIA LEVANTINA DE EDIFICACION Y OBRAS PUBLICAS SA (CLEO.MC) stock was 1.15 EUR (+0.00% on the day), with market capitalisation 17.3 m EUR, P/E 14.4 on diluted EPS of 0.08 EUR over the last 12 months, 52-week range 1.15–1.15 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- unavailable
- Bollinger (20, 2)
- unavailable – unavailable
- SMA 50 / 200
- unavailable / unavailable
- MACD (12, 26, 9)
- unavailable / unavailable
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 | +0.4% | unavailable | — |
| 3 months | unavailable | −3.3% | unavailable | — |
| 6 months | unavailable | +4.0% | unavailable | — |
| Year to date | unavailable | +8.1% | unavailable | — |
| 1 year | unavailable | +10.7% | unavailable | +3.2% |
| 3 years | unavailable | +50.1% | unavailable | +29.6% |
| 5 years | unavailable | +43.6% | unavailable | — |
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 50 percentile of its own 2-quarter history (min 14.4, median 21.6, max 28.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 29.1 m | 31.5 m | 35.7 m |
| Revenue YoY | unavailable | +8.4% | +13.4% |
| Net income | 982.0 k | 613.0 k | 1.2 m |
| Net income YoY | unavailable | −37.6% | +96.6% |
| Diluted EPS | unavailable | 0.04 | 0.08 |
| Diluted EPS YoY | unavailable | unavailable | +100.0% |
| net % | 3.4% | 1.9% | 3.4% |
| Free cash flow | unavailable | 2.8 m | 1.6 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 4.7 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 30.1 m EUR
- Total assets
- 91.6 m EUR
- Debt / equity
- unavailable
- Current ratio
- 1.13x
- ROE
- 4.1%
- ROA
- 1.6%
- FCF margin
- 4.4%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 29.1 m | 31.5 m | 35.7 m | esef· 20 Oct 2026verified |
| Gross profit | 17.9 m | 18.9 m | 23.0 m | esef· 20 Oct 2026verified |
| Operating income | — | 1.2 m | 1.5 m | esef· 20 Oct 2026verified |
| Depreciation & amortisation | 978.0 k | 1.1 m | 1.6 m | esef· 20 Oct 2026verified |
| EBITDA | — | 2.3 m ≈ | 3.2 m ≈ | esef· 20 Oct 2026derived |
| Interest expense | 676.0 k | 871.0 k | 1.4 m | esef· 20 Oct 2026verified |
| Pre-tax income | 1.4 m | 837.0 k | 2.0 m | esef· 20 Oct 2026verified |
| Income tax | 373.0 k | 211.0 k | 728.0 k | esef· 20 Oct 2026verified |
| Net income | 982.0 k | 613.0 k | 1.2 m | esef· 20 Oct 2026verified |
| Diluted EPS | — | 0.04 | 0.08 | esef· 20 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 3.1 m | 3.2 m | 4.7 m | esef· 20 Oct 2026verified |
| Receivables | 10.9 m | 10.8 m | 11.3 m | esef· 20 Oct 2026verified |
| Inventories | — | 2.2 m | 2.4 m | esef· 20 Oct 2026verified |
| Current assets | 17.7 m | 18.1 m | 20.5 m | esef· 20 Oct 2026verified |
| Property, plant & equipment, net | 8.9 m | 10.6 m | 39.9 m | esef· 20 Oct 2026verified |
| Goodwill | 145.0 k | 145.0 k | 145.0 k | esef· 20 Oct 2026verified |
| Intangibles (excl. goodwill) | 4.0 m | 3.8 m | — | esef· 08 May 2025verified |
| Total assets | 62.9 m | 63.4 m | 91.6 m | esef· 20 Oct 2026verified |
| Current liabilities | 16.4 m | 15.6 m | 18.2 m | esef· 20 Oct 2026verified |
| Equity | 28.2 m | 28.9 m | 30.1 m | esef· 20 Oct 2026verified |
| Shares outstanding at year end | — | 15.3 m | 15.1 m | esef· 20 Oct 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 440.0 k | 3.6 m | 4.5 m | esef· 20 Oct 2026verified |
| Capex | — | 746.0 k | 2.9 m | esef· 20 Oct 2026verified |
| Free cash flow | — | 2.8 m ≈ | 1.6 m ≈ | esef· 20 Oct 2026derived |
| Investing cash flow | -996.0 k | -210.0 k | -3.3 m | esef· 20 Oct 2026verified |
| Financing cash flow | 605.0 k | -3.3 m | 403.0 k | esef· 20 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
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
- score weight coverage: 41.7% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 17.3 m EUR
Key indicators
Coverage and freshness
Score by group
42% · 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: 1.38 – 1.87 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 · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E1.38 – 1.87 (Mid 1.62)18 companies used · median multiple 20.3x · quartiles 17.2x – 23.3xACS.MC, ADX.MC, AEDAS.MC, AENA.MC, AMS.MC, ANA.MC, CAF.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: score weight coverage: 41.7% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 3.4% | 41 (vs peers) | 15% |
| FCF conversion · Quality | 131.8% | 100 (on a fixed band) | 15% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.1x | 0 (on a fixed band) | 15% |
| Current ratio · Balance sheet | 1.1x | 27 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 14.4x | 82 (vs peers) | 25% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.2% | 100 (on a fixed band) | 20% |
| 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 sheet11/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality70/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation90/100 · 2/3 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
COMPAÑIA LEVANTINA DE EDIFICACION Y OBRAS PUBLICAS SA (CLEO.MC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 35.7 m EUR in 2025; YoY growth 13.4%; net margin 3.4%; ROE 4.1%.
The estimated value range is 1.38–1.87 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.62 EUR, the price of 1.15 EUR leaves a potential of 41.1% (value / price − 1) and a margin of safety of 29.1% (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 (score weight coverage: 41.7% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 131.8%
- P/E (TTM): 14.4x
- FCF yield: 9.2%
- The price is below the estimated value range
What contradicts it
- Interest coverage: 1.1x
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, 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
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 | 42.4 bn | 19.8 | 24.2% | 34.0% | +8.9% | +20% / +78% |
| 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. | 22.6 bn | 23.7 | 19.9% | 1.9% | +19.7% | +10% / +142% |
| ANA.MCAcciona SA | 11.6 bn | 14.5 | 16.9% | 4.0% | +5.5% | +23% / +65% |
| FCC.MCFomento De Construcciones Y Contratas S.A. | 5.0 bn | 30.5 | 5.3% | 1.7% | +6.9% | −8% / −13% |
| FDR.MCFluidra S.A. | 3.8 bn | 21.4 | 10.9% | 7.8% | +4.1% | −17% / +5% |
| DIA.MCDistribuidora Internacional De Alimentacion SA | 2.7 bn | 20.7 | 165.6% | 2.2% | −2.7% | +52% / +383,650% |
| CMO.MCCementos Molins S.A. | 2.5 bn | 13.6 | 14.3% | 18.0% | −3.1% | +31% / unavailable |
| ENO.MCElecnor SA | 2.5 bn | 22.2 | 10.5% | 2.5% | +15.1% | −2% / +60% |
| ALM.MCAlmirall S.A. | 2.3 bn | 50.5 | 3.1% | 4.2% | +12.4% | −12% / +31% |
| 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 | 571.1 m | 11.4 | 21.0% | 7.8% | −0.4% | +40% / −24% |
| EAT.MCAmRest Holdings SE | 510.6 m | 31.7 | 4.3% | 0.6% | +0.1% | −34% / −61% |
| ADX.MCAudax Renovables S.A. | 489.0 m | 25.0 | 9.3% | 1.0% | −5.4% | −19% / −14% |
| ATRY.MCAtrys Health, S.A. | 199.3 m | — | -49.5% | -71.1% | +8.5% | −3% / −29% |
| ENER.MCEcoener, S.A. | 178.8 m | 32.8 | 4.2% | 6.4% | +3.6% | −32% / −4% |
| ADZ.MCAdolfo Dominguez SA | 62.4 m | 38.1 | 9.0% | 1.2% | +1.8% | +38% / +39% |
| DESA.MCDesarrollos Especiales De Sistemas De Anclaje S.A. | 49.6 m | 10.2 | 152.3% | 10.0% | +2.2% | +32% / unavailable |
| EZE.MCGrupo Ezentis SA | 30.0 m | — | — | -9.3% | +147.2% | −27% / −35% |
| 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% | +12% / +59% |
1- and 3-year price returns: for CLEO.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
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.74 Total return -36% · Per year -36% | 1.30 Total return 13% · Per year 13% | 1.96 Total return 70% · Per year 70% |
| 3 years | 0.85 Total return -26% · Per year -9% | 1.68 Total return 46% · Per year 13% | 2.74 Total return 138% · Per year 34% |
| 5 years | 0.98 Total return -15% · Per year -3% | 2.15 Total return 87% · Per year 13% | 3.84 Total return 234% · Per year 27% |
- Exit P/E± 0.42
- Net margin± 0.29
- Annual revenue growth± 0.22
- Annual dilution± 0.02
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
The CLEOP group operates in construction and sociosanitary services, two segments that depend on contracts with public administrations and private clients. Its 2025 annual report describes a company aiming for sustainable growth and a strategy focused on compliance and social responsibility.
SWOT
Strengths
- The group has two complementary segments, construction and sociosanitary services, which diversify its revenue sources 1.
- The compliance system and ethics code provide a formal governance framework, supervised by a dedicated officer 1.
- Recurring contracts in the sociosanitary sector bring revenue that is predictable over the contract term 1.
Weaknesses
- Dependence on public clients could expose the group to payment delays and budget changes 1.
- Revenue recognition for uncertified works depends on estimates, which introduces uncertainty into reporting 1.
- The report does not give a detailed market share analysis, which limits the assessment of competitive position 1.
Opportunities
- Growing demand for sociosanitary services could open opportunities to expand the recurring segment 1.
- The sustainability strategy could open access to public projects that prioritise social and environmental criteria 1.
- The materiality matrix could guide investments in practices that strengthen stakeholder relationships 1.
Risks
- Dependence on public clientshigh
A high share of activity comes from contracts with administrations, and payment delays or budget changes could affect liquidity 1.
- Cost estimation in constructionhigh
Revenue recognition based on execution depends on estimates of total costs, and overruns could lead to expected losses recognised immediately 1.
- Client acceptance of worksmedium
Revenue from executed but uninvoiced works depends on final acceptance, which introduces uncertainty about collection timing 1.
- Compliance riskmedium
Breaches of legal or ethical rules could lead to sanctions and damage reputation, even with a compliance system in place 1.
- Ongoing litigationlow
The group has ongoing legal proceedings and claims, for which management considers provisions sufficient, but their outcome could have unforeseen effects 1.
Investment thesis
What would need to be true (bull case)
- If the sociosanitary segment maintains its growth pace, recurring revenue could stabilise group results 1.
- A well-structured compliance system could facilitate access to more demanding public contracts 1.
- A focus on sustainability and social responsibility could strengthen long-term stakeholder relationships 1.
What would break the thesis
- Dependence on public clients could slow collections if budgets or payment procedures change 1.
- Competitive pressure in construction could limit margins, especially on fixed-price contracts 1.
- Revenue recognition based on estimates could produce significant adjustments if cost assumptions do not hold 1.
What to watch
- Level of receivables and uninvoiced executed works2026
- Outcome of ongoing legal proceedings and claims2026
- Evolution of the compliance policy and non-financial reporting2026
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 works mainly in two segments, construction and sociosanitary, according to its non-financial information report 1. Its clients are both private and public, including national, regional and local administrations 1. According to the outlook section, the group aims to remain a leader in the sociosanitary sector and generate value for all stakeholders 1.
Construction revenue is recognised according to the degree of execution, while recurring services such as sociosanitary care are recognised on a straight-line basis over the contract period 1. Work performed but not yet certified is recorded separately, and expected losses on a contract are recognised immediately as an expense 1.
The group has adopted an Ethics and Conduct Code, a Compliance Body regulation and a regulatory compliance system, supervised by a Compliance Officer 1. These policies aim to ensure legal compliance, prevent criminal risks and promote sustainable practices 1.
Segments
Market context
The report does not provide a quantitative market analysis, but it describes the construction and sociosanitary sectors as shaped by public client requirements and sustainability standards 1. The group assessed materiality by consulting stakeholders, a list that includes clients, employees, suppliers, sector companies and local communities 1.
The reference framework for non-financial reporting is the GRI standard, combined with sector studies and analyses, which indicates that transparency requirements influence how the company presents its activity 1.
Trends
- Transparency and sustainability requirementsmixed
Companies are increasingly assessed on sustainability and non-financial reporting criteria, and the group built a materiality matrix based on GRI standards 1. If such requirements strengthen, compliance costs could rise, but firms that demonstrate solid practices could benefit 1.
- Ageing population and demand for sociosanitary servicestailwind
The group's strategy in the sociosanitary segment suggests that the care services environment could support long-term growth, if demand is maintained 1.
- Margin pressure in public contractsheadwind
Public contracts may include payments dependent on acceptance procedures and client approvals, which could slow collections and affect margins 1.
- Digitalisation and compliance practicesmixed
Compliance and risk management systems, combined with quality certifications, could become a differentiating factor, especially in public procurement 1.
Competitive position
The report does not list direct competitors, but it refers to other companies in the sector as part of the stakeholder groups analysed in the materiality study 1. The group's positioning relies on quality certifications and experience in sociosanitary services 1.
Competition takes place mainly for public contracts, where quality, compliance and execution capacity influence award decisions, and company positions can vary by region 1.
- Other construction and services companies in the sector
The report mentions other companies in the sector, without naming them, as part of its stakeholder groups 1.
- Sociosanitary service providers
The report includes sociosanitary competitors among its stakeholder groups, without naming them 1.
- Associations and social organisations
These are considered part of the partnership ecosystem rather than necessarily direct competitors 1.
- Public service sector companies
They are included indirectly under the sector companies category, without further detail 1.
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 / COMPAÑIA LEVANTINA DE EDIFICACION Y OBRAS PUBLICAS SA · 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.