Técnicas Reunidas, S.A.

Factors to consider:

• Earnings for 6 months up through Q2 are below our estimates

Stock Forecast*

* forecast is subjective and experimental, should not be used for any investment decisions

Long term estimates were made for the period from 2025-12-31 to 2027-12-31

• 2025-12-31 to 2026-12-31 estimated range: [14.44$, 23.68$]
• 2026-12-31 to 2027-12-31 estimated range: [15.29$, 24.90$]

Financial Metrics affecting the TNISF estimates:

• Positive: with PPE of 8.4 at the end of fiscal year the price was neutral
• Positive: 0.56 < Operating profit margin, % of 4.59
• Positive: 8.77 < Operating cash flow per share per price, % of 11.21
• Positive: 1.88 < Return on assets ratio (scaled to [-100,100]) of 2.60
• Positive: 7.04 < Shareholder equity ratio, % of 9.42 <= 12.78
• Positive: 3.66 < Industry operating cash flow per share per price (median), % of 4.51
• Positive: Interest expense per share per price, % of 3.25 <= 4.56
• Positive: Inventory ratio change, % of -0.05 <= 0