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ACF

Acrow Formwork and Construction ServicesASX:ACF Stock Report

Market Cap

AU$117.2m

7D

-1.1%

1Y

29.2%

Updated

17 Oct, 2021

Data

Company Financials +
ACF fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance4/6
Financial Health2/6
Dividends2/6

ACF Overview

Acrow Formwork and Construction Services Limited operates as a formwork and scaffolding company in Australia.

Price History & Performance

Summary of all time highs, changes and price drops for Acrow Formwork and Construction Services
Historical stock prices
Current Share PriceAU$0.47
52 Week HighAU$0.31
52 Week LowAU$0.49
Beta0.64
1 Month Change9.41%
3 Month Change8.14%
1 Year Change29.17%
3 Year Change-7.92%
5 Year Change158.33%
Change since IPO-99.85%

Recent News & Updates

Shareholder Returns

ACFAU Trade DistributorsAU Market
7D-1.1%-0.5%0.9%
1Y29.2%14.0%20.2%

Return vs Industry: ACF exceeded the Australian Trade Distributors industry which returned 14% over the past year.

Return vs Market: ACF exceeded the Australian Market which returned 20.2% over the past year.

Price Volatility

Is ACF's price volatile compared to industry and market?
ACF volatility
ACF Beta0.64
Industry Beta0.84
Market Beta1

Stable Share Price: ACF is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: ACF's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1936245Steven Bolandhttps://www.acrow.com.au

Acrow Formwork and Construction Services Limited operates as a formwork and scaffolding company in Australia. It is involved in the rental of formwork equipment, including wall forming panel systems; soffit forming systems, such as Acrowform aluminum panels; GASS table forms; cuplok; conventional systems; and scaffolding systems comprising cuplok scaffolding, super cuplok scaffolding, and ring-lok and quickstage scaffolding products. It offers hire and sales solutions to residential, commercial, civil, and industrial customers.

Acrow Formwork and Construction Services Fundamentals Summary

How do Acrow Formwork and Construction Services's earnings and revenue compare to its market cap?
ACF fundamental statistics
Market CapAU$117.22m
Earnings (TTM)AU$3.96m
Revenue (TTM)AU$94.61m

29.6x

P/E Ratio

1.2x

P/S Ratio

Is ACF overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACF income statement (TTM)
RevenueAU$94.61m
Cost of RevenueAU$35.21m
Gross ProfitAU$59.40m
ExpensesAU$55.44m
EarningsAU$3.96m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.016
Gross Margin62.79%
Net Profit Margin4.19%
Debt/Equity Ratio39.4%

How did ACF perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

104%

Payout Ratio

Does ACF pay a reliable dividends?

See ACF dividend history and benchmarks
When do you need to buy ACF by to receive an upcoming dividend?
Acrow Formwork and Construction Services dividend dates
Ex Dividend DateNov 03 2021
Dividend Pay DateNov 25 2021
Days until Ex dividend16 days
Days until Dividend pay date38 days

Does ACF pay a reliable dividends?

See ACF dividend history and benchmarks

Valuation

Is Acrow Formwork and Construction Services undervalued compared to its fair value and its price relative to the market?

29.58x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ACF (A$0.47) is trading above our estimate of fair value (A$0.33)

Significantly Below Fair Value: ACF is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ACF is poor value based on its PE Ratio (29.6x) compared to the Australian Trade Distributors industry average (28.1x).

PE vs Market: ACF is poor value based on its PE Ratio (29.6x) compared to the Australian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: ACF is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: ACF is overvalued based on its PB Ratio (1.9x) compared to the AU Trade Distributors industry average (1.6x).


Future Growth

How is Acrow Formwork and Construction Services forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

33.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACF's forecast earnings growth (33.4% per year) is above the savings rate (1.9%).

Earnings vs Market: ACF's earnings (33.4% per year) are forecast to grow faster than the Australian market (11.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACF's revenue (12.9% per year) is forecast to grow faster than the Australian market (5.5% per year).

High Growth Revenue: ACF's revenue (12.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACF's Return on Equity is forecast to be low in 3 years time (16.1%).


Past Performance

How has Acrow Formwork and Construction Services performed over the past 5 years?

23.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACF has a large one-off gain of A$5.5M impacting its June 30 2021 financial results.

Growing Profit Margin: ACF's current net profit margins (4.2%) are higher than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: ACF has become profitable over the past 5 years, growing earnings by 23.5% per year.

Accelerating Growth: ACF's earnings growth over the past year (31.5%) exceeds its 5-year average (23.5% per year).

Earnings vs Industry: ACF earnings growth over the past year (31.5%) exceeded the Trade Distributors industry 28.1%.


Return on Equity

High ROE: ACF's Return on Equity (6.4%) is considered low.


Financial Health

How is Acrow Formwork and Construction Services's financial position?


Financial Position Analysis

Short Term Liabilities: ACF's short term assets (A$39.8M) do not cover its short term liabilities (A$48.0M).

Long Term Liabilities: ACF's short term assets (A$39.8M) do not cover its long term liabilities (A$49.5M).


Debt to Equity History and Analysis

Debt Level: ACF's debt to equity ratio (39.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if ACF's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: ACF's debt is well covered by operating cash flow (50.9%).

Interest Coverage: ACF's interest payments on its debt are not well covered by EBIT (1.1x coverage).


Balance Sheet


Dividend

What is Acrow Formwork and Construction Services's current dividend yield, its reliability and sustainability?

4.95%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 18 2021Ex Dividend DateNov 03 2021Dividend Pay DateNov 25 202122 days from Ex DividendBuy in the next 16 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: ACF's dividend (4.95%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: ACF's dividend (4.95%) is low compared to the top 25% of dividend payers in the Australian market (5.32%).


Stability and Growth of Payments

Stable Dividend: ACF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ACF's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (104.3%), ACF's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACF's dividends in 3 years are forecast to be well covered by earnings (44.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Steven Boland

3.58yrs

Tenure

AU$907,052

Compensation

Mr. Steven Boland has been the Chief Executive Officer and Executive Director of Acrow Formwork and Construction Services Limited (formerly NMG Corporation Limited) since March 27, 2018 and serves as its M...


CEO Compensation Analysis

Compensation vs Market: Steven's total compensation ($USD673.24K) is above average for companies of similar size in the Australian market ($USD302.72K).

Compensation vs Earnings: Steven's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ACF's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: ACF's board of directors are considered experienced (3.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ACF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.1%.


Top Shareholders

Company Information

Acrow Formwork and Construction Services Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Acrow Formwork and Construction Services Limited
  • Ticker: ACF
  • Exchange: ASX
  • Founded: 1936
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: AU$117.225m
  • Shares outstanding: 252.10m
  • Website: https://www.acrow.com.au

Number of Employees


Location

  • Acrow Formwork and Construction Services Limited
  • 126 Phillip Street
  • Level 5
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/17 07:01
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.