Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Cox ABG Group, S.A. is a Spain-based parent company of a vertically integrated utilities group specializing in water desalination, energy generation, transmission, and related services. Founded in 2014 and headquartered in Spain, it operates across key regions including Mexico, Brazil, Chile, Central America, Spain, and the MENA region, managing concessions, engineering, procurement, construction (EPC), and operation & maintenance (O&M) for large-scale infrastructure. The group spans four core business lines: water, with over 30 desalination plants producing more than 1 million cubic meters per day; energy, featuring over 13 GW in installed and under-construction capacity across renewables like solar, wind, and biomass, plus conventional generation; transmission and infrastructure, including 31,000 km of power lines and 330 substations; and services for reliable plant operations. Transformed by the 2023 acquisition of Abengoa assets and a 2024 IPO on the Bolsa de Madrid, Cox employs a dual AssetCo-ServiceCo model, emphasizing long-term recurring revenues from concessions while executing EPC projects. This structure positions it as a global leader in sustainable water and energy solutions, serving millions through urban networks, irrigation, and power supply.
€11.80
€0.10 (-0.84%)
EOD Jun 23, 2026 · Twelve Data
12.92% operating margin is respectable but not wide. ROIC at 14.92%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 62.2%, still solid. Margins contracted 5.2pp, which offsets some of the top-line progress.
Negative free cash flow of -€93M. The business is consuming cash, not generating it. Operating margin contracted 5.2pp YoY, cost discipline may be slipping.
14.8x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€1.14B
▲ +62.2% YoY
Net Income (TTM)
€69M
▲ +16.4% YoY
Op. Margin
12.92%
▼ -5.2pp YoY
ROIC
14.92%
▼ -0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€93M
▼ -1524.7% YoY
Op. Cash Flow (TTM)
€16M
▲ +84.7% YoY
Net Debt
€295M
Cash & Equiv.
€229M
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