(ACS) ACS Actividades de - Overview
Sector: Industrials | Industry: Engineering & Construction | Exchange: MC (Spain) | Market Cap: 32.381m EUR | Total Return: 110.9% in 12m
Avg Turnover: 53.9M
EPS Trend: 38.5%
Qual. Beats: 1
Rev. Trend: 96.1%
Qual. Beats: 1
Warnings
Altman Z'' 0.94 < 1.0 - financial distress zone
Tailwinds
Leader, Tailwind, Pullback 52w
ACS Actividades de Construcción y Servicios SA is a Madrid-based global infrastructure and construction conglomerate. The company operates through five primary segments: Turner, CIMIC, Engineering and Construction, Infrastructure, and Other. Its portfolio spans civil engineering, project management, and mining services, with a significant geographic footprint in North America, Europe, and Australia.
The company utilizes a diversified business model that integrates traditional heavy construction with long-term infrastructure concessions and public-private partnerships (PPPs). In the engineering and construction sector, large-scale firms like ACS increasingly focus on high-tech growth markets, such as data centers and battery plants, to capture demand from the global energy transition and digitalization trends.
Investors may find it useful to review further valuation metrics and risk assessments on ValueRay.
Beyond core construction, ACS maintains a 50% stake in Abertis Infraestructuras, a major operator of international toll roads. This structure allows the company to balance the cyclical nature of construction contracts with the steady, recurring cash flows generated by infrastructure management and urban services.
- North American data center and battery plant expansion fuels high-tech construction revenue
- Dividend income from Abertis toll road concessions stabilizes long-term cash flow
- Global interest rate shifts impact financing costs for capital-intensive infrastructure projects
- Mining sector demand volatility directly influences CIMIC and Thiess operational margins
- Strategic pivot toward digitalization and energy transition projects drives future order book growth
| Net Income: 991.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -2.75 > 1.0 |
| NWC/Revenue: 8.10% < 20% (prev 8.32%; Δ -0.22% < -1%) |
| CFO/TA 0.07 > 3% & CFO 3.05b > Net Income 991.3m |
| Net Debt (2.73b) to EBITDA (2.42b): 1.13 < 3 |
| Current Ratio: 1.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (260.7m) vs 12m ago 2.36% < -2% |
| Gross Margin: 10.27% > 18% (prev -0.22%; Δ 1.05k% > 0.5%) |
| Asset Turnover: 136.9% > 50% (prev 161.5%; Δ -24.61% > 0%) |
| Interest Coverage Ratio: 1.63 > 6 (EBITDA TTM 2.42b / Interest Expense TTM 888.1m) |
| A: 0.09 (Total Current Assets 29.4b - Total Current Liabilities 25.3b) / Total Assets 45.9b |
| B: 0.02 (Retained Earnings 950.3m / Total Assets 45.9b) |
| C: 0.04 (EBIT TTM 1.45b / Avg Total Assets 36.8b) |
| D: 0.03 (Book Value of Equity 1.11b / Total Liabilities 40.8b) |
| Altman-Z'' = 0.94 = BB |
| DSRI: 1.13 (Receivables 12.2b/9.51b, Revenue 50.4b/44.7b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.67 (AQ_t 0.31 / AQ_t-1 0.46) |
| SGI: 1.13 (Revenue 50.4b / 44.7b) |
| TATA: -0.04 (NI 991.3m - CFO 3.05b) / TA 45.9b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 123.60 with a total of 421,898 shares traded.
Over the past week, the price has changed by -7.21%,
over one month by +1.06%,
over three months by +14.66% and
over the past year by +110.86%.
ACS Actividades de has no consensus analysts rating.
P/E Trailing = 33.8692
P/E Forward = 35.2113
P/S = 0.6423
P/B = 7.4226
P/EG = 1.0845
Revenue TTM = 50.4b EUR
EBIT TTM = 1.45b EUR
EBITDA TTM = 2.42b EUR
Long Term Debt = 11.4b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 3.42b EUR (from shortTermDebt, last fiscal year)
Debt = 17.0b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 966.4m
Net Debt = 2.73b EUR (calculated: Debt 17.0b - CCE 14.3b)
Enterprise Value = 35.1b EUR (32.4b + Debt 17.0b - CCE 14.3b)
Interest Coverage Ratio = 1.63 (Ebit TTM 1.45b / Interest Expense TTM 888.1m)
EV/FCF = 15.25x (Enterprise Value 35.1b / FCF TTM 2.30b)
FCF Yield = 6.56% (FCF TTM 2.30b / Enterprise Value 35.1b)
FCF Margin = 4.57% (FCF TTM 2.30b / Revenue TTM 50.4b)
Net Margin = 1.97% (Net Income TTM 991.3m / Revenue TTM 50.4b)
Gross Margin = 10.27% ((Revenue TTM 50.4b - Cost of Revenue TTM 45.2b) / Revenue TTM)
Gross Margin QoQ = none% (prev -35.06%)
Tobins Q-Ratio = 0.76 (Enterprise Value 35.1b / Total Assets 45.9b)
Interest Expense / Debt = 5.21% (Interest Expense 888.1m / Debt 17.0b)
Taxrate = 27.25% (452.9m / 1.66b)
NOPAT = 1.05b (EBIT 1.45b * (1 - 27.25%))
Current Ratio = 1.16 (Total Current Assets 29.4b / Total Current Liabilities 25.3b)
Debt / Equity = 3.54 (Debt 17.0b / totalStockholderEquity, last fiscal year 4.82b)
Debt / EBITDA = 1.13 (Net Debt 2.73b / EBITDA 2.42b)
Debt / FCF = 1.19 (Net Debt 2.73b / FCF TTM 2.30b)
Total Stockholder Equity = 4.58b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.69% (Net Income 991.3m / Total Assets 45.9b)
RoE = 21.67% (Net Income TTM 991.3m / Total Stockholder Equity 4.58b)
RoCE = 9.08% (EBIT 1.45b / Capital Employed (Equity 4.58b + L.T.Debt 11.4b))
RoIC = 5.16% (NOPAT 1.05b / Invested Capital 20.4b)
WACC = 6.93% (E(32.4b)/V(49.4b) * Re(8.58%) + D(17.0b)/V(49.4b) * Rd(5.21%) * (1-Tc(0.27)))
Discount Rate = 8.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 23.00 | Cagr: -0.10%
[DCF] Terminal Value 76.33% ; FCFF base≈2.24b ; Y1≈2.38b ; Y5≈2.83b
[DCF] Fair Price = 156.5 (EV 43.5b - Net Debt 2.73b = Equity 40.8b / Shares 260.5m; r=8.35% [WACC [floored]]; 5y FCF grow 7.09% → 2.50% )
EPS Correlation: 38.51 | EPS CAGR: 5.01% | SUE: 1.25 | # QB: 1
Revenue Correlation: 96.10 | Revenue CAGR: 18.81% | SUE: 4.0 | # QB: 1
EPS current Year (2026-12-31): EPS=4.12 | Chg30d=+0.06% | Revisions=+11% | GrowthEPS=+23.7% | GrowthRev=+11.5%
EPS next Year (2027-12-31): EPS=4.74 | Chg30d=+1.27% | Revisions=+33% | GrowthEPS=+15.0% | GrowthRev=+8.7%
[Analyst] Revisions Ratio: +33%