Based on the provided data for FERROVIAL SA for the year ended 2022-12-31, let's estimate the Net Debt / EBITDA ratio following S&P methodology.

**Step 1: Calculate EBITDA**

S&P generally calculates EBITDA from continuing operations and may include dividends from associates and adjustments for non-controlling interests.

Starting from "Profit Loss From Operating Activities" (which is EBIT):
EBIT = 423,000,000 EUR

Add back "Amortisation Expense":
Amortisation = 299,000,000 EUR

Note: There is no depreciation expense explicitly separated, but "Amortisation Expense" seems to be the total D&A (the Spanish data has "Ajustes Al Resultado Por Gastos Por Depreciacion YAmortizacion" matching this figure). There is no separate line for depreciation in the P&L items provided.

EBITDA = EBIT + Amortisation
EBITDA = 423,000,000 + 299,000,000 = 722,000,000 EUR

Now, add "Dividends Received Classified As Operating Activities" to get to S&P's EBITDA:
Dividends Received = 284,000,000 EUR
Adjusted EBITDA = 722,000,000 + 284,000,000 = 1,006,000,000 EUR

**Step 2: Calculate Net Debt**

Net Debt = Short-term Debt + Long-term Debt - Cash and Cash Equivalents (unrestricted).

Non-Current Debt:
- Noncurrent Debt Securities And Bank Borrowings Of Infrastructure Projects: 7,893,000,000
- Noncurrent Debt Securities And Bank Borrowings Excluding Infrastructure Projects: 2,883,000,000
- Noncurrent Lease Liabilities: 120,000,000
Total Non-Current Debt = 7,893,000,000 + 2,883,000,000 + 120,000,000 = 10,896,000,000 EUR

Current Debt:
- Current Debt Securities And Bank Borrowings Of Infrastructure Projects: 74,000,000
- Current Debt Securities And Bank Borrowings Excluding Infrastructure Projects: 803,000,000
- Current Lease Liabilities: 64,000,000
Total Current Debt = 74,000,000 + 803,000,000 + 64,000,000 = 941,000,000 EUR

Total Debt = 10,896,000,000 + 941,000,000 = 11,837,000,000 EUR

Cash and Cash Equivalents (Total):
Cash And Cash Equivalents = 5,130,000,000 EUR
(S&P typically nets unrestricted cash. While "Cash And Cash Equivalents Infrastructure Projects" exists, the total cash line often includes restricted. We'll use total cash as a standard first pass, or specifically exclude restricted if defined. Usually, "Cash and cash equivalents" on the face of the balance sheet is used. But "Restricted Cash Relating To Infrastructure Projects" is non-current, so current cash might be unrestricted. I will use the total "Cash And Cash Equivalents" 5,130,000,000 as it's the standard line item, but often S&P deducts restricted cash. To be safe, standard methodology uses the face value "Cash And Cash Equivalents" and may adjust. I'll use 5,130,000,000.)

Net Debt = 11,837,000,000 - 5,130,000,000 = 6,707,000,000 EUR

**Step 3: Compute Ratio**

Net Debt / EBITDA = 6,707,000,000 / 1,006,000,000 = 6.67

<answer>6.67</answer>