Técnicas Reunidas, S.A.

Factors to consider:

• Earnings for 3 months up through Q1 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: [13.99$, 23.06$]
• 2026-12-31 to 2027-12-31 estimated range: [14.60$, 23.93$]

Financial Metrics affecting the TNISF estimates:

• Positive: with PPE of 7.8 at the end of fiscal year the price was neutral
• Positive: -4.17 < Operating profit margin, % of 4.59
• Positive: 6.73 < Operating cash flow per share per price, % of 11.21
• Positive: Inventory ratio change, % of -0.05 <= 0
• Negative: Industry earnings per price (median), % of 1.62 <= 4.29
• Positive: -4.44 < Investing cash flow per share per price, % of -1.27
• Negative: Shareholder equity ratio, % of 9.42 <= 19.10
• Positive: 1.89 < Return on assets ratio (scaled to [-100,100]) of 2.60
• Positive: 2.95 < Industry operating profit margin (median), % of 4.56
• Negative: Industry inventory ratio change (median), % of 1.71 > 0.27