Actividades de Construccion y Servicios SA (ES:ACS)
BME:ACS
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Actividades de Construccion y Servicios SA
(BME:ACS)
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Rating:65Neutral
Price Target:
€130.00
▲(6.04% Upside)
Action:DowngradedDate:03/02/26
The score is driven primarily by solid financial execution (revenue growth and improving free cash flow) but is held back by higher and worsening leverage and thin/pressured margins. Technicals are supportive due to strong trend strength, though overbought signals add caution, and valuation is a secondary drag due to the high P/E with only a modest dividend yield.
Positive Factors
Consistent Revenue Growth
Sustained top-line expansion across 2022–2025 implies the company is consistently winning and executing projects, supporting a replenishing backlog. For an EPC/construction group, durable revenue growth underpins long-term cash flow, scale benefits in procurement and execution, and stronger negotiating position with clients and suppliers.
Negative Factors
Rising Leverage
Significantly higher leverage reduces financial flexibility and raises refinancing and interest-rate sensitivity. In construction, working-capital swings and project delays can rapidly strain liquidity; higher debt amplifies downside risk, tightens covenant headroom, and increases the cost of pursuing new large contracts.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained top-line expansion across 2022–2025 implies the company is consistently winning and executing projects, supporting a replenishing backlog. For an EPC/construction group, durable revenue growth underpins long-term cash flow, scale benefits in procurement and execution, and stronger negotiating position with clients and suppliers.
Read all positive factors
Actividades de Construccion y Servicios SA (ACS) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€31.92B
Dividend Yield2.38%
Average Volume (3M)295.26K
Price to Earnings (P/E)23.0
Beta (1Y)1.00
Revenue Growth25.47%
EPS Growth7.63%
CountryES
Employees157,284
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.14
Shares Outstanding271,664,580
10 Day Avg. Volume255,272
30 Day Avg. Volume295,263
Financial Highlights & Ratios
PEG Ratio1.61
Price to Book (P/B)4.54
Price to Sales (P/S)0.44
P/FCF Ratio9.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€116.64Price Target Upside-4.86% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)4.07
Revenue Forecast (FY)€55.30B
Actividades de Construccion y Servicios SA Business Overview & Revenue Model
Company Description
ACS, Actividades de Construcción y Servicios, S.A. provides construction and related services in Spain and internationally. The company undertakes construction activities related to development of highways, railways, maritime, airport works, hydra...
How the Company Makes Money
ACS primarily makes money by delivering large-scale construction and engineering projects under contract for public-sector and private-sector clients. Revenue is generated from (1) construction contracting: payment for executing civil works (e.g.,...
Actividades de Construccion y Servicios SA Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
54
Neutral
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.00B | 49.85B | 41.63B | 35.74B | 33.62B | 27.84B |
| Gross Profit | 18.71B | 4.62B | 13.35B | 11.28B | 10.25B | 8.84B |
| EBITDA | 3.14B | 2.42B | 2.70B | 1.90B | 2.11B | 805.65M |
| Net Income | 861.20M | 950.34M | 827.58M | 780.12M | 668.23M | 3.05B |
Balance Sheet | ||||||
| Total Assets | 41.30B | 45.93B | 42.03B | 36.50B | 37.58B | 35.66B |
| Cash, Cash Equivalents and Short-Term Investments | 10.87B | 14.32B | 12.34B | 9.82B | 10.42B | 12.29B |
| Total Debt | 14.24B | 16.08B | 14.34B | 10.39B | 11.00B | 10.99B |
| Total Liabilities | 36.88B | 40.75B | 36.91B | 30.87B | 31.20B | 28.64B |
| Stockholders Equity | 4.19B | 4.82B | 4.71B | 5.33B | 5.55B | 6.33B |
Cash Flow | ||||||
| Free Cash Flow | 1.63B | 2.30B | 2.18B | 1.01B | 1.46B | -183.07M |
| Operating Cash Flow | 2.45B | 3.05B | 2.79B | 1.50B | 1.74B | 203.14M |
| Investing Cash Flow | -839.90M | -1.65B | -1.25B | -15.75M | -198.10M | 3.40B |
| Financing Cash Flow | -636.92M | 47.58M | 496.66M | -1.65B | -3.54B | -770.95M |
Actividades de Construccion y Servicios SA Technical Analysis
Positive
122.60
Price Trends
107.48
Positive
97.55
Positive
82.15
Positive
Market Momentum
4.93
Negative
68.49
Neutral
83.65
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ACS, the sentiment is Positive. The current price of 122.6 is above the 20-day moving average (MA) of 112.32, above the 50-day MA of 107.48, and above the 200-day MA of 82.15, indicating a bullish trend. The MACD of 4.93 indicates Negative momentum. The RSI at 68.49 is Neutral, neither overbought nor oversold. The STOCH value of 83.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:ACS.
Actividades de Construccion y Servicios SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | €555.97M | 12.27 | 17.08% | 1.89% | 3.23% | 12.32% | |
65 Neutral | €31.92B | 22.99 | 20.71% | 2.38% | 25.47% | 7.63% | |
62 Neutral | €2.75B | 10.84 | 29.15% | ― | 41.87% | 55.79% | |
60 Neutral | €13.14B | 12.61 | 18.00% | 2.87% | 4.87% | 339.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €3.64B | 32.80 | 8.86% | 5.28% | 2.03% | -32.59% | |
51 Neutral | €668.82M | 2.61 | 0.29% | ― | 1.39% | 72.34% |
* General Sector Average
ES:ACS
Actividades de Construccion y Servicios SA
121.30
70.81
140.24%
ES:ANA
Acciona
234.60
118.90
102.76%
ES:OHLA
Obrascon Huarte Lain
0.49
0.18
60.73%
ES:SCYR
Sacyr SA
4.79
1.76
57.96%
ES:TRE
Tecnicas Reunidas
35.30
21.20
150.35%
ES:GSJ
Grupo Empresarial San Jose, S.A.
8.48
3.19
60.39%
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.