Acrow Formwork and Construction Services Limited (ACF) AI Stock Analysis

• Market Cap: €347.98M
• Dividend Yield: 5.57%
• Average Volume (3M): 443.86K
• Price to Earnings (P/E): 14.8
• Beta (1Y): 0.70
• Revenue Growth: 25.14%
• EPS Growth: -14.54%
• Country: AU
• Employees: 300
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.06
• Shares Outstanding: 310,692,500
• 10 Day Avg. Volume: 268,850
• 30 Day Avg. Volume: 443,862
• PEG Ratio: -0.87
• Price to Book (P/B): 2.08
• Price to Sales (P/S): 1.29
• P/FCF Ratio: -17.39
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €1.35
• Price Target Upside: 28.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: AU$1.00 ▼(-4.76% Downside)

Acrow Formwork and Construction Services Limited demonstrates strong financial performance with solid revenue growth and operational efficiency. However, cash flow management and leverage pose risks. Technical indicators show bullish momentum but suggest caution due to overbought conditions. The stock's valuation is attractive, supported by a fair P/E ratio and high dividend yield.

Positive Factors

Revenue Growth

The company's robust revenue growth underscores its effective market strategy and strong demand for its services, supporting long-term business expansion.

Operational Efficiency

High gross profit margins reflect effective cost control, enhancing profitability and providing a competitive edge in the construction industry.

Market Position

A strong reputation for quality and efficiency reinforces Acrow's market position, attracting long-term contracts and partnerships that drive sustainable growth.

Negative Factors

Cash Flow Management

Negative free cash flow growth indicates potential liquidity issues, which could hinder the company's ability to invest in growth opportunities and manage operations efficiently.

Leverage

Moderate leverage poses risks if not managed properly, potentially impacting financial flexibility and increasing vulnerability to economic downturns.

Net Profit Margin

A declining net profit margin indicates rising costs or inefficiencies, which could pressure future profitability and require strategic adjustments.

Acrow Formwork and Construction Services Limited Business Overview & Revenue Model

Company Description

Acrow Formwork and Construction Services Limited (ACF) is a prominent provider of formwork and construction solutions, specializing in the design, manufacture, and supply of formwork systems for civil engineering projects. Operating primarily in the construction and infrastructure sectors, ACF offers a range of services that include project consultancy, design support, and on-site assistance. The company caters to diverse projects, from commercial buildings to large-scale infrastructure developments, ensuring safety, efficiency, and innovation in construction practices.

How the Company Makes Money

ACF generates revenue through multiple streams, primarily by offering formwork rental and sales, as well as providing comprehensive construction services. The company earns money from leasing its proprietary formwork systems to contractors on a project basis, which allows for flexible usage without the need for significant capital investment from clients. Additionally, ACF generates income through the sale of formwork systems and related accessories. Their consultancy and design services, which provide tailored solutions to enhance project efficiency and safety, also contribute to revenue. Strategic partnerships with construction companies and engineering firms further bolster ACF's market presence and can lead to long-term contracts, enhancing overall profitability.

Acrow Formwork and Construction Services Limited Financial Statement Overview

Summary

Acrow Formwork and Construction Services Limited shows strong revenue growth and operational efficiency with healthy profit margins. However, challenges with cash flow management and increased leverage could impact future financial stability. Improving cash flow and managing debt levels are crucial for sustained growth.

Income Statement

Acrow Formwork and Construction Services Limited has demonstrated strong revenue growth, with a notable 11.42% increase in the latest year. The company maintains a healthy gross profit margin of 78.53%, indicating efficient cost management. However, the net profit margin has decreased to 9.63%, suggesting increased expenses or other financial pressures. The EBIT margin of 15.36% and EBITDA margin of 22.61% reflect solid operational performance, though slightly lower than previous years.

Balance Sheet

The balance sheet shows a debt-to-equity ratio of 1.15, indicating a moderate level of leverage, which could pose risks if not managed properly. Return on equity stands at 15.61%, showcasing effective use of shareholder funds, though it has decreased from previous years. The equity ratio is 36.71%, reflecting a balanced capital structure but with room for improvement in equity financing.

Cash Flow

Cash flow analysis reveals challenges, with a negative free cash flow growth rate of -22.90%, indicating potential liquidity issues. The operating cash flow to net income ratio is 0.32, suggesting moderate cash generation relative to net income. The free cash flow to net income ratio is negative, highlighting the need for better cash flow management to support operations and growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	179.40M	241.66M	193.12M	149.81M	140.83M	94.61M
Gross Profit	142.44M	189.77M	163.24M	35.33M	26.20M	11.54M
EBITDA	43.19M	54.64M	65.27M	48.51M	34.21M	20.84M
Net Income	16.33M	23.27M	25.56M	23.46M	15.69M	3.96M
Balance Sheet
Total Assets	406.14M	406.14M	312.45M	218.52M	184.90M	159.03M
Cash, Cash Equivalents and Short-Term Investments	8.02M	8.02M	5.59M	4.94M	3.01M	1.75M
Total Debt	171.78M	171.78M	106.69M	75.20M	64.10M	56.25M
Total Liabilities	257.05M	257.05M	171.49M	115.63M	101.58M	97.54M
Stockholders Equity	149.09M	149.09M	140.96M	102.88M	83.32M	61.49M
Cash Flow
Free Cash Flow	-15.10M	-17.86M	-7.67M	-19.25M	-14.15M	-8.22M
Operating Cash Flow	24.41M	31.91M	32.54M	25.69M	8.23M	9.19M
Investing Cash Flow	-52.97M	-52.97M	-49.00M	-26.26M	-18.44M	-9.84M
Financing Cash Flow	12.68M	4.91M	13.51M	1.32M	7.20M	-9.83M

Acrow Formwork and Construction Services Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ACF, the sentiment is Neutral. The current price of 1.05 is below the 20-day moving average (MA) of 1.05, below the 50-day MA of 1.08, and above the 200-day MA of 1.02, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 46.84 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:ACF.

Acrow Formwork and Construction Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SXE	76 Outperform	€625.04M	19.60	16.18%	3.13%	45.23%	43.94%
CVL	72 Outperform	AU$698.19M	16.37	8.35%	4.29%	-21.57%	-34.09%
GNG	71 Outperform	AU$661.08M	19.21	50.61%	5.34%	12.96%	8.19%
ACF	69 Neutral	€347.98M	14.80	16.13%	5.57%	25.14%	-14.54%
SND	64 Neutral	AU$108.06M	47.09	4.01%	2.88%	-0.72%	-78.03%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DUR	63 Neutral	AU$520.86M	22.20	34.21%	2.31%	3.10%	5.08%

Acrow Formwork and Construction Services Limited Corporate Events

Acrow Limited Announces Quotation of New Securities on ASX

Acrow Limited announced the quotation of 690,160 ordinary fully paid securities on the ASX, effective November 28, 2025. This move could enhance the company’s market presence and provide additional capital for its operations, potentially impacting stakeholders by increasing the liquidity of its shares.

Acrow Limited Director Increases Shareholding

Acrow Limited has announced a change in the director’s interest, with Rod Heale acquiring 94,920 fully paid ordinary shares through on-market trades, increasing his total holdings to 104,920 shares. This acquisition reflects a strategic move by the director, potentially indicating confidence in the company’s future performance and stability, which could positively influence stakeholder perceptions and market positioning.

Acrow Limited Director Increases Shareholding

Acrow Limited announced a change in the director’s interest, with Steven Boland acquiring an additional 36,528 fully paid ordinary shares through on-market trades, increasing his total holdings to 6,009,574 shares. This acquisition reflects a strategic move by the director, potentially indicating confidence in the company’s future performance and stability, which may positively influence stakeholder perceptions.

Acrow Limited Confirms DRP Price in Dividend Update

Acrow Limited has announced an update regarding its dividend distribution, confirming the Dividend Reinvestment Plan (DRP) price. This update pertains to a dividend related to the six-month period ending on June 30, 2025, with a record date of October 31, 2025. The announcement reflects the company’s ongoing commitment to shareholder returns and may impact investor perceptions and market positioning.

Acrow Limited Secures Strong Shareholder Support at AGM

Acrow Limited announced that all resolutions were passed at its Annual General Meeting, reflecting strong shareholder support for the company’s strategic direction. The successful passing of these resolutions, including the re-election of directors and adoption of the rights plan, underscores Acrow’s stable governance and commitment to growth, which may positively impact its market positioning and stakeholder confidence.

Acrow Limited Reports Strategic Growth and Financial Stability at 2025 AGM

Acrow Limited’s 2025 Annual General Meeting highlighted a year of strategic progress and consolidation, with significant growth in the industrial access sector, now comprising half of its business. The integration of acquisitions such as Brand Australia and Above Scaffolding has strengthened Acrow’s presence in utilities, energy, and infrastructure sectors, providing stability through long-term contracts with major clients. Despite challenges in the formwork division due to project delays, Acrow achieved a 4% increase in net profit and maintained strong dividends. The company continues to invest in talent development and aims to expand into new industrial sectors, including defense-related maintenance projects, while moderating capital expenditure to enhance financial flexibility.

Acrow Limited Opens 2025 AGM to Non-Shareholders

Acrow Limited has announced that its 2025 Annual General Meeting (AGM) will be accessible to non-shareholders, including brokers and investors, who can attend either in person or virtually. This move reflects Acrow’s commitment to transparency and stakeholder engagement, potentially enhancing its industry positioning by broadening access to its strategic discussions and future plans.

Acrow Limited Announces Quotation of New Securities on ASX

Acrow Limited has announced the quotation of 647,911 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of October 28, 2025. This move is part of the company’s strategy to enhance its market presence and provide additional value to its stakeholders by increasing liquidity and access to capital markets.

Acrow Limited Announces Director’s Interest Change

Acrow Limited announced a change in the director’s interest, with Steven Boland exercising his Long Term Variable Remuneration (LTVR) Performance Rights to acquire 320,984 Fully Paid Ordinary Shares. This adjustment reflects a strategic move in the company’s governance, potentially impacting shareholder value and aligning director interests with company performance.

Acrow Limited Announces Quotation of New Securities on ASX

Acrow Limited has announced the quotation of 636,350 ordinary fully paid securities on the ASX, effective October 20, 2025. This move reflects the company’s strategic efforts to enhance its financial standing and market presence, potentially impacting its operations and positioning within the construction services sector.

Acrow Limited Announces 2025 Annual General Meeting Details

Acrow Limited has announced the details of its 2025 Annual General Meeting, scheduled for November 14, 2025, in Sydney and virtually. Shareholders are reminded of their rights regarding document receipt preferences and are encouraged to participate in the meeting, either in person or virtually, to vote on resolutions affecting their shareholding.

Acrow Limited Announces Quotation of Additional Securities on ASX

Acrow Limited has announced the quotation of additional securities on the Australian Securities Exchange (ASX), with a total of 1,406,680 ordinary fully paid securities to be quoted. This move is part of the company’s strategy to enhance its market presence and potentially raise capital for future growth initiatives.

Acrow Limited Announces Change in Director’s Securities Interests

Acrow Limited announced a change in the interests of its director, Steven Boland, with a reduction in Long Term Variable Remuneration (LTVR) Performance Rights due to unmet performance conditions. This adjustment reflects the company’s adherence to performance-based compensation structures, potentially impacting executive remuneration and aligning with shareholder interests.

Acrow Limited Announces Cessation of Securities

Acrow Limited announced the cessation of certain securities due to the lapse of conditional rights. A total of 2,758,192 performance rights have ceased as the conditions for these securities were not met or became incapable of being satisfied. This announcement may impact the company’s capital structure and could influence stakeholder perceptions regarding the company’s performance and future prospects.

Acrow Limited Releases 2025 Corporate Governance Statement

Acrow Formwork and Construction Services Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, highlighting its commitment to transparency and accountability in its operations. This disclosure is crucial for maintaining investor confidence and ensuring compliance with regulatory standards.

Acrow Limited Releases FY25 Annual Report Highlighting Growth and Strategic Focus

Acrow Limited has released its Annual Report for the Financial Year 2025, detailing the company’s operational and financial performance, key achievements, and future growth strategies. The report underscores Acrow’s commitment to expanding its presence in core markets and its ongoing efforts to set national standards in engineered industrial and construction services.