Annual rank60
Spain · Industrials
CAF
Designs and supplies trains, buses, components, signalling systems and complete turnkey mobility solutions.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
From Civity trains and Solaris buses to control and lifecycle service
CAF, Construcciones y Auxiliar de Ferrocarriles, S.A., is the issuer behind an integrated mobility group. It designs and manufactures trains, brings Solaris buses into the portfolio, supplies signalling and digital tools, and supports fleets after commissioning. Its stated scope stretches from feasibility and engineering through construction, installation, operation, maintenance and financing. That breadth matters because one transport system can require a vehicle platform, an automation layer, depot support and long-cycle overhauls.
Train platforms
Civity changes power source; Inneo changes city by city
Civity can add or remove intermediate cars; its BEMU variant runs on non-electrified track and recharges under catenary. Inneo metro trains can be configured from two to nine cars and for different automation levels. CAF says its fully automatic, driverless metros already operate in Santiago de Chile, Istanbul, Amsterdam, Brussels, São Paulo and London. The model is reusable engineering with local configuration, not one fixed train; the English DLR film makes the five-car London unit, interior and GoA3 automation tangible.
- Explore the Civity architectures BEMU, double-deck, Nordic and UK variants on one modular platform
- Configure an Inneo metro Car count, interiors, infrastructure fit and automation levels
- ▶ VideoStep inside London's DLR Inneo Official 1:39 English film of the five-car unit, interior and GoA3 automation
Solaris buses
The bus company is inside the group, not the issuer
Solaris Bus & Coach is the CAF Group bus manufacturer, not the listed issuer itself, and says every bus is conceived, designed and manufactured in Poland. Urbino electric spans several lengths, while Urbino 12 and 18 hydrogen use fuel-cell propulsion; the selected English film shows the articulated Urbino 18 on road and at a hydrogen station. The February 2025 Poznań release says MPK already operated 25 hydrogen buses when nine more were ordered for delivery by April 2026. It proves the order and schedule, not subsequent delivery.
- Establish the Solaris boundary The Polish bus manufacturer states that it is part of the CAF Group
- Browse the Urbino electric range Battery buses from compact and low-entry models to articulated formats
- Compare hydrogen bus formats Urbino 12 and articulated Urbino 18 fuel-cell platforms
- Read the Poznań fleet boundary February 2025 record: 25 in the fleet and nine ordered for later delivery
- ▶ VideoWatch the Urbino 18 hydrogen Official 1:16 English film of the articulated bus in operation
Control and fleet data
OPTIO controls movement; LeadMind watches condition
CAF's signalling stack names OPTIO for CBTC, QUASAR Q4 electronic interlocking, AURIGA for ETCS and automatic train operation, and NAOS for integrated control centres. OPTIO was launched in December 2024; the later English film shows laboratory and tunnel validation over a private 5G network, not a passenger-service deployment. LeadMind's condition-based-maintenance workflow reads train sensors, runs analytics and raises automatic workshop alarms when indicators move outside set ranges. CAF's systems portfolio therefore spans traffic control and fleet condition while keeping launch, validation and delivery distinct.
- Map the signalling stack OPTIO, QUASAR Q4, AURIGA and NAOS in their distinct control roles
- Read the OPTIO launch record CAF's December 2024 introduction of its CBTC platform
- Open the LeadMind modules Fleet monitoring, maintenance, inspection and driver-performance tools
- Follow condition-based maintenance Sensors, analytics, thresholds and automatic workshop alarms
- ▶ VideoWatch OPTIO validation over 5G Official 2:24 English film of laboratory and tunnel validation
Factory and lifecycle
Beasain builds the train; depots keep the relationship alive
CAF's headquarters and main rolling-stock plant are in Beasain; the factory film shows machining, assembly, electronics and completed trains. The group also lists production facilities in France, the UK, Poland, the United States, Mexico and Brazil, plus maintenance centres across five continents. In the UK, a signed ten-year agreement covers 101 Northern trains built in 2018–2020 and already commissioned. Northern supplies maintenance labour; CAF supplies management, technical support, spares and overhauls. CAF says its strategy is to grow comprehensive rail and bus solutions while maximising the digital offer; this contract shows how lifecycle support follows manufacturing.
- See the production footprint Factories across seven countries and maintenance centres on five continents
- Follow the rail-service lifecycle Commissioning, maintenance, components, spares and modernisation
- Read the Northern contract split Ten years, 101 commissioned trains and separate labour and support roles
- ▶ VideoEnter the Beasain factory Official language-neutral film of machining, assembly and completed trains
- ▶ VideoWatch UK depot work Official 3:21 English film of rolling stock, equipment, parts and maintenance
Official profile sources: Construcciones y Auxiliar de Ferrocarriles – Other relevant information · Sustainable Mobility | CAF · About Us | CAF
Current 2026 update
What has changed in 2026?
Capacity updates through 26 June 2026 · 26 June 2026
Capacity updates through 26 June 2026latest official update
4company-specific highlights
+8%2026 stock return · context only
Revenue
First-quarter revenue rose 3.6% to EUR 1,158 million.
Profit
Profit attributable to owners of the parent rose 11.1% to EUR 40 million.
Segment revenue mix
Bus revenue rose 35% to EUR 327 million, while railway revenue fell 5% to EUR 831 million; CAF also reported some Middle East conflict impact on railway-project execution.
Production and service capacity
Solaris opened a 7,000m²-plus final-assembly hall adding about 500 buses a year and nearly 300 direct jobs; CAF then opened a 5,000m² Manchester component-service site after a GBP 10m investment.
Official 2026 sources: Results First Quarter 2026 · 7 May 2026 · Solaris expands production capacity and accelerates growth strategy · 23 June 2026 · CAF opens a new maintenance depot in Manchester · 26 June 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 60 | +42% | +180% | +143% |