Acrow Formwork and Construction Services Limited (AU:ACF)
ASX:ACF
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Acrow Formwork and Construction Services Limited
(Sydney:ACF)
Select Model
Select Model
Rating:69Neutral
Price Target:
AU$1.00
â–²(9.89% Upside)
Action:Downgraded
Date:10/02/25
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 Momentum
Sustained revenue growth, reflected in double-digit annual increases, indicates expanding market penetration or contract wins. Over a 2–6 month horizon this supports stable order books, better capacity utilization and stronger reinvestment prospects, underpinning durable top-line expansion.
Negative Factors
Weak Free Cash Flow Generation
Material negative free cash flow growth and low operating cash conversion indicate cash generation lags accounting profits. Over months this constrains capex, debt servicing and dividends, raises refinancing risk, and forces reliance on external funding or asset sales to sustain operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained revenue growth, reflected in double-digit annual increases, indicates expanding market penetration or contract wins. Over a 2–6 month horizon this supports stable order books, better capacity utilization and stronger reinvestment prospects, underpinning durable top-line expansion.
Read all positive factors
Acrow Formwork and Construction Services Limited (ACF) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$290.34M
Dividend Yield5.71%
Average Volume (3M)443.86K
Price to Earnings (P/E)20.0
Beta (1Y)0.91
Revenue Growth25.68%
EPS Growth-11.47%
CountryAU
Employees300
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.04
Shares Outstanding312,192,840
10 Day Avg. Volume268,850
30 Day Avg. Volume443,862
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)2.08
Price to Sales (P/S)1.29
P/FCF Ratio-17.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.28Price Target Upside40.29% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.09
Revenue Forecast (FY)AU$321.66M
Acrow Formwork and Construction Services Limited Business Overview & Revenue Model
Company Description
Acrow Formwork and Construction Services Limited, an Australian firm operating from Sydney since 1936, offers comprehensive solutions for the construction industry. The company specializes in engineered formwork, scaffolding, and screen systems, c...
How the Company Makes Money
null...
Acrow Formwork and Construction Services Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 210.32M | 241.66M | 193.12M | 149.81M | 140.83M | 94.61M |
| Gross Profit | 77.22M | 189.77M | 163.24M | 35.33M | 26.20M | 11.54M |
| EBITDA | 44.63M | 54.64M | 65.27M | 48.51M | 34.21M | 20.84M |
| Net Income | 13.53M | 23.27M | 25.56M | 23.46M | 15.69M | 3.96M |
Balance Sheet | ||||||
| Total Assets | 428.29M | 406.14M | 312.45M | 218.52M | 184.90M | 159.03M |
| Cash, Cash Equivalents and Short-Term Investments | 6.48M | 8.02M | 5.59M | 4.94M | 3.01M | 1.75M |
| Total Debt | 227.43M | 171.78M | 106.69M | 75.20M | 64.10M | 56.25M |
| Total Liabilities | 280.19M | 257.05M | 171.49M | 115.63M | 101.58M | 97.54M |
| Stockholders Equity | 148.10M | 149.09M | 140.96M | 102.88M | 83.32M | 61.49M |
Cash Flow | ||||||
| Free Cash Flow | -22.62M | -17.86M | -7.67M | -19.25M | -14.15M | -8.22M |
| Operating Cash Flow | 20.16M | 31.91M | 32.54M | 25.69M | 8.23M | 9.19M |
| Investing Cash Flow | -55.41M | -52.97M | -49.00M | -26.26M | -18.44M | -9.84M |
| Financing Cash Flow | 38.49M | 4.91M | 13.51M | 1.32M | 7.20M | -9.83M |
Acrow Formwork and Construction Services Limited Technical Analysis
Positive
0.91
Price Trends
0.89
Positive
0.91
Positive
0.97
Negative
Market Momentum
0.02
Negative
57.76
Neutral
36.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ACF, the sentiment is Positive. The current price of 0.91 is above the 20-day moving average (MA) of 0.89, above the 50-day MA of 0.89, and below the 200-day MA of 0.97, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 57.76 is Neutral, neither overbought nor oversold. The STOCH value of 36.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ACF.
Acrow Formwork and Construction Services Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$735.76M | 31.44 | 29.27% | 2.25% | 1.59% | 2.81% | |
69 Neutral | AU$1.02B | 33.62 | 5.61% | 4.17% | -34.08% | -36.57% | |
69 Neutral | AU$290.34M | 20.02 | 9.11% | 5.71% | 25.68% | -11.47% | |
67 Neutral | AU$728.28M | 19.68 | 22.89% | 2.51% | 1.87% | -23.48% | |
64 Neutral | AU$3.13B | 65.75 | 7.79% | 3.20% | 14.40% | -57.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | AU$152.13M | -20.41 | -12.62% | 2.78% | -2.60% | -168.93% |
* Industrials Sector Average
AU:ACF
Acrow Formwork and Construction Services Limited
0.93
0.02
2.20%
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Acrow Formwork and Construction Services Limited Corporate Events
Acrow makes minor technical update to share placement details
Jun 19, 2026
Acrow Limited has updated its disclosure to the ASX regarding a proposed placement of new securities, adjusting the allocation between tranche one and tranche two of the offer. The company noted that, following finalisation of the placement, the t...
Acrow Raises $70m for Strategic Acquisitions and Lifts FY27 Guidance
Jun 19, 2026
Acrow Limited has completed a fully underwritten $70 million two-tranche institutional placement at $0.85 per share to fund the acquisitions of Ausgroup Industrial Services and the Preston SuperDeck business, as well as to reduce debt. The company...
Acrow Plans Share Issue Under Securities Purchase Plan
Jun 18, 2026
Acrow Limited has announced plans to issue up to 11,764,705 new ordinary fully paid shares under a securities purchase plan for existing shareholders. The offer, which has a record date of 17 June 2026 and is scheduled to close on 16 July 2026, wi...
Acrow Plans Large Share Placement to Bolster Capital Base
Jun 18, 2026
Acrow Limited has notified the Australian Securities Exchange of a proposed issue of up to 90,231,335 fully paid ordinary shares under a placement or similar capital-raising structure. The new securities are scheduled to be issued on 26 June 2026,...
Acrow launches $70m equity raising to fund Ausgroup and Preston SuperDeck acquisitions
Jun 18, 2026
Acrow Limited has launched a fully underwritten $70 million equity raising, comprising an institutional placement and a security purchase plan, to fund the cash consideration for its acquisitions of Ausgroup Industries Limited and the Preston Supe...
Acrow raises $70m to acquire Ausgroup Industrial Services and Preston SuperDeck
Jun 18, 2026
Acrow Limited has launched a fully underwritten $70 million two-tranche institutional placement, alongside a share purchase plan of up to $10 million, to fund the $54.5 million acquisition of Ausgroup Industrial Services and the Preston SuperDeck ...
Perennial Value Exits Substantial Holder Position in Acrow
Jun 4, 2026
Perennial Value Management Limited has notified Acrow that it has ceased to be a substantial holder in the company, following a series of on-market share transactions executed through custodians including Northern Trust, HSBC and Citicorp Nominees...
Acrow Seeks ASX Quotation for New Shares Issued Under Dividend Plan
May 29, 2026
Acrow Limited has applied for quotation of 631,628 new fully paid ordinary shares on the Australian Securities Exchange, to be issued on May 29, 2026, under its dividend or distribution plan. The additional securities are expected to modestly expa...
Acrow Confirms FY26 Outlook and Sets Growth Guidance for FY27
Apr 1, 2026
Acrow Limited has confirmed its FY26 revenue and EBITDA guidance and issued initial FY27 guidance, underpinned by a record $14.3 million in new hire contracts in March and a hire revenue pipeline of $256 million, up 34% year on year. Strengthening...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.