Estimating The Intrinsic Value Of ACS, Actividades de Construcción y Servicios, S.A. (BME:ACS)
Nov 30
Spanish (IBEX) Industrials Sector Analysis
UpdatedDec 03, 2023
DataAggregated Company Financials
Companies39
- 7D1.8%
- 3M6.4%
- 1Y21.0%
- YTD21.6%
Over the last 7 days, the Industrials industry has risen 1.8%, driven by gains in Ferrovial and Aena S.M.E of 2.5% and 2.1%, respectively. In the last 12 months, the industry was up 21%. Earnings are forecast to grow by 24% annually.
Sector Valuation and Performance
Has the Spanish Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 04 Dec 2023 | €92.1b | €110.8b | €2.2b | 15.9x | 42.4x | 0.8x |
| Wed, 01 Nov 2023 | €83.6b | €110.1b | €1.9b | 13.4x | 43.3x | 0.8x |
| Fri, 29 Sep 2023 | €85.5b | €110.2b | €1.9b | 13.8x | 43.9x | 0.8x |
| Sun, 27 Aug 2023 | €86.5b | €110.1b | €2.0b | 15x | 43.6x | 0.8x |
| Tue, 25 Jul 2023 | €87.0b | €107.6b | €1.6b | 16.8x | 54.4x | 0.8x |
| Thu, 22 Jun 2023 | €107.2b | €107.6b | €1.6b | 16.1x | 66.9x | 1x |
| Sat, 20 May 2023 | €86.1b | €107.2b | €1.6b | 17.2x | 54.3x | 0.8x |
| Mon, 17 Apr 2023 | €84.0b | €105.1b | €1.4b | 17.4x | 60.7x | 0.8x |
| Wed, 15 Mar 2023 | €83.5b | €104.9b | €1.4b | 17.3x | 60.5x | 0.8x |
| Fri, 10 Feb 2023 | €82.7b | €100.6b | €500.2m | 17.8x | 165.4x | 0.8x |
| Sun, 08 Jan 2023 | €77.8b | €100.2b | €974.4m | 16.2x | 79.9x | 0.8x |
| Tue, 06 Dec 2022 | €76.7b | €100.0b | €950.7m | 18.6x | 80.7x | 0.8x |
| Thu, 03 Nov 2022 | €72.5b | €96.0b | €637.3m | 17.4x | 113.8x | 0.8x |
| Sat, 01 Oct 2022 | €69.0b | €95.7b | €556.8m | 15.1x | 124x | 0.7x |
| Mon, 29 Aug 2022 | €74.8b | €95.5b | €544.1m | 16.2x | 137.4x | 0.8x |
| Wed, 27 Jul 2022 | €75.5b | €91.8b | -€89,674,783.00 | 20.6x | -842x | 0.8x |
| Fri, 24 Jun 2022 | €75.0b | €91.5b | -€79,758,344.00 | 15.4x | -940.8x | 0.8x |
| Sun, 22 May 2022 | €75.6b | €89.1b | -€154,516,344.00 | 17.2x | -489.6x | 0.8x |
| Tue, 19 Apr 2022 | €82.2b | €89.1b | €147.4m | 20x | 558x | 0.9x |
| Thu, 17 Mar 2022 | €82.1b | €88.9b | €114.8m | 21.3x | 715.4x | 0.9x |
| Sat, 12 Feb 2022 | €83.7b | €96.0b | €536.0m | 22x | 156.2x | 0.9x |
| Mon, 10 Jan 2022 | €88.3b | €96.3b | €957.6m | 24.8x | 92.2x | 0.9x |
| Wed, 08 Dec 2021 | €85.3b | €96.3b | €899.8m | 23.3x | 94.8x | 0.9x |
| Fri, 05 Nov 2021 | €88.0b | €94.9b | €828.4m | 20.3x | 106.2x | 0.9x |
| Sun, 03 Oct 2021 | €88.6b | €94.6b | €568.9m | 21x | 155.7x | 0.9x |
| Tue, 31 Aug 2021 | €88.3b | €94.7b | €570.6m | 18.6x | 154.8x | 0.9x |
| Wed, 07 Jul 2021 | €90.4b | €94.6b | €569.7m | 19.3x | 158.8x | 1x |
| Sat, 10 Apr 2021 | €91.5b | €93.4b | €309.4m | 18.1x | 295.7x | 1x |
| Fri, 01 Jan 2021 | €89.3b | €92.6b | €101.7m | 17.9x | 878.1x | 1x |
Price to Earnings Ratio
129.2x
Current Industry PE
- Investors are pessimistic on the Spanish Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 42.4x which is lower than its 3-year average PE of 104x.
- The industry is trading close to its 3-year average PS ratio of 0.86x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have grown 48% per year over the last three years.
- Revenues for these companies have grown 6.0% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Spanish Industrials sector?
| ES Market | 1.87% | |
| Industrials | 1.77% | |
| Construction | 2.61% | |
| Infrastructure | 2.11% | |
| Commercial Services | 1.12% | |
| Logistics | 0.92% | |
| Professional Services | 0.51% | |
| Electrical | 0.017% | |
| Aerospace & Defense | 0% | |
| Building | 0% | |
| Industrials | 0% | |
| Airlines | 0% | |
| Marine and Shipping | 0% | |
| Transportation | 0% | |
| Machinery | -0.80% | |
| Trade Distributors | -2.34% | |
Industry PE
- Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 22.5x.
- Analysts are expecting annual earnings growth of 28.7%, which is higher than its past year's earnings decline of 37.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Electrical industry, expecting annual earnings growth of 65% over the next 5 years.
- This is better than its past earnings decline of 1.4% per year.
- In contrast, the Logistics industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| FER Ferrovial | €31.80 | 2.5% +€557.9m | 21.9% | PE139.6x | |
| AENA Aena S.M.E | €159.90 | 2.3% +€540.0m | 27.1% | PE17.4x | |
| ACS ACS Actividades de Construcción y Servicios | €37.05 | 1.8% +€168.5m | 36.4% | PE12.8x | |
| FCC Fomento de Construcciones y Contratas | €12.36 | 2.1% +€118.7m | 41.3% | PE16.4x | |
| ENO Elecnor | €18.70 | 4.8% +€72.0m | 76.4% | PE14.9x |
