Stock 4ACS ACS, ACTIVIDADES DE CONSTRUCCIÓN Y SERVICIOS, S.A.
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Financials ACS, Actividades de Construcción y Servicios, S.A. Borsa Italiana

Equities

4ACS

ES0167050915

Construction & Engineering

Real-time Estimate Tradegate
Other stock markets
 03:06:14 27/06/2024 pm IST 		5-day change 1st Jan Change
40.46 EUR +0.25% Intraday chart for ACS, Actividades de Construcción y Servicios, S.A. +2.28% +0.30%
06/06 Trade union accepts wage agreement in construction DP
05/06 Construction industry cannot count on more state aid DP

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,851 7,861 6,636 6,894 10,574 11,051 - -
Enterprise Value (EV) 1 10,905 9,681 4,627 6,670 10,174 12,055 11,851 11,751
P/E ratio 11.4 x 13.9 x 2.19 x 10.7 x 13.4 x 16.5 x 14.5 x 13.2 x
Yield 5.3% 8.98% 8.49% 7.47% 4.88% 5.15% 5.35% 5.6%
Capitalization / Revenue 0.28 x 0.23 x 0.24 x 0.21 x 0.3 x 0.29 x 0.27 x 0.26 x
EV / Revenue 0.28 x 0.28 x 0.17 x 0.2 x 0.28 x 0.31 x 0.29 x 0.28 x
EV / EBITDA 3.46 x 4.04 x 2.9 x 3.82 x 5.33 x 6.07 x 5.57 x 5.24 x
EV / FCF 6.34 x 14.1 x -25.3 x 7.23 x 10.1 x 10.2 x 8.52 x 11 x
FCF Yield 15.8% 7.12% -3.96% 13.8% 9.9% 9.76% 11.7% 9.05%
Price to Book 2.35 x 2.03 x 1.03 x 1.25 x 1.96 x 2.03 x 1.93 x 1.85 x
Nbr of stocks (in thousands) 3,04,373 2,89,552 2,81,531 2,57,535 2,63,286 2,71,665 - -
Reference price 2 35.65 27.15 23.57 26.77 40.16 40.68 40.68 40.68
Announcement Date 18/02/20 25/02/21 24/02/22 27/02/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 39,049 34,937 27,837 33,615 35,738 38,763 40,604 42,228
EBITDA 1 3,148 2,397 1,598 1,747 1,909 1,986 2,126 2,242
EBIT 1 2,126 1,433 1,084 1,106 1,326 1,474 1,681 1,795
Operating Margin 5.44% 4.1% 3.89% 3.29% 3.71% 3.8% 4.14% 4.25%
Earnings before Tax (EBT) 1 632 1,236 57.5 1,009 1,127 1,067 1,360 1,490
Net income 1 962 574 3,045 668.2 780 674.3 770.2 847.5
Net margin 2.46% 1.64% 10.94% 1.99% 2.18% 1.74% 1.9% 2.01%
EPS 2 3.130 1.950 10.74 2.500 3.000 2.471 2.803 3.079
Free Cash Flow 1 1,720 689 -183.1 923 1,007 1,177 1,392 1,064
FCF margin 4.4% 1.97% -0.66% 2.75% 2.82% 3.04% 3.43% 2.52%
FCF Conversion (EBITDA) 54.64% 28.74% - 52.83% 52.74% 59.27% 65.44% 47.43%
FCF Conversion (Net income) 178.79% 120.03% - 138.13% 129.08% 174.56% 180.66% 125.49%
Dividend per Share 2 1.890 2.439 2.000 2.000 1.960 2.095 2.176 2.277
Announcement Date 18/02/20 25/02/21 24/02/22 27/02/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1
Net sales 1 18,337 13,330 7,035 7,472 6,926 8,489 15,415 9,111 9,089 8,111 8,922 17,033 9,362 9,343 8,706
EBITDA 1 1,345 737 428 433 399 417 816 447 484 462 472 934 491 484 461
EBIT 1 859 516.2 258.8 340 283 264 547 292 267 328 337 665 307 354 327
Operating Margin 4.68% 3.87% 3.68% 4.55% 4.09% 3.11% 3.55% 3.2% 2.94% 4.04% 3.78% 3.9% 3.28% 3.79% 3.76%
Earnings before Tax (EBT) 1 717 287.5 234.5 -464.5 267 509.1 509.1 205.9 - - 334.2 - 302.8 212 280
Net income 361 351.1 193.9 2,500 136 194 330 150 188.2 163 222.2 385.2 190.8 204 -
Net margin 1.97% 2.63% 2.76% 33.46% 1.96% 2.29% 2.14% 1.65% 2.07% 2.01% 2.49% 2.26% 2.04% 2.18% -
EPS - - 0.6800 8.830 0.4800 0.7400 - 0.5700 0.7100 0.6300 0.8600 - 0.7300 0.7800 -
Dividend per Share - - - 1.530 - 0.4700 - - 2.000 - 0.4800 - - - -
Announcement Date 14/08/20 27/07/21 11/11/21 24/02/22 12/05/22 28/07/22 28/07/22 10/11/22 27/02/23 12/05/23 27/07/23 27/07/23 13/11/23 29/02/24 14/05/24
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 54 1,820 - - - 1,003 800 700
Net Cash position 1 - - 2,009 224 400 - - -
Leverage (Debt/EBITDA) 0.0172 x 0.7593 x - - - 0.5053 x 0.3763 x 0.312 x
Free Cash Flow 1 1,720 689 -183 923 1,007 1,177 1,392 1,064
ROE (net income / shareholders' equity) 20.4% 12.8% 61.7% 11.2% 14.3% 11.3% 13.9% 14.9%
ROA (Net income/ Total Assets) - 1.53% 8.34% 1.83% 2.11% 1.9% 2.1% 2.2%
Assets 1 - 37,582 36,499 36,615 37,034 35,488 36,678 38,523
Book Value Per Share 2 15.20 13.40 23.00 21.50 20.50 20.10 21.10 22.00
Cash Flow per Share 2 7.740 4.000 0.7200 4.990 5.770 6.040 2.380 -
Capex 1 659 485 386 410 496 309 309 313
Capex / Sales 1.69% 1.39% 1.39% 1.22% 1.39% 0.8% 0.76% 0.74%
Announcement Date 18/02/20 25/02/21 24/02/22 27/02/23 29/02/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ACS, Actividades de Construcción y Servicios, S.A.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
40.68 EUR
Average target price
38.28 EUR
Spread / Average Target
-5.91%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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