Aecon Group Inc.

TSX:ARE Stock Report

Market Cap: CA$1.6b

Aecon Group Future Growth

Future criteria checks 4/6

Aecon Group is forecast to grow earnings and revenue by 81.6% and 5.5% per annum respectively. EPS is expected to grow by 76.5% per annum. Return on equity is forecast to be 10% in 3 years.

Key information

81.6%

Earnings growth rate

76.50%

EPS growth rate

Construction earnings growth12.0%
Revenue growth rate5.5%
Future return on equity9.98%
Analyst coverage

Good

Last updated08 Oct 2025

Recent future growth updates

CA$26.36: That's What Analysts Think Aecon Group Inc. (TSE:ARE) Is Worth After Its Latest Results

Mar 08
CA$26.36: That's What Analysts Think Aecon Group Inc. (TSE:ARE) Is Worth After Its Latest Results

Recent updates

We Think That There Are Issues Underlying Aecon Group's (TSE:ARE) Earnings

Aug 08
We Think That There Are Issues Underlying Aecon Group's (TSE:ARE) Earnings

Aecon Group (TSE:ARE) Will Pay A Dividend Of CA$0.19

Aug 05
Aecon Group (TSE:ARE) Will Pay A Dividend Of CA$0.19

Investors Still Aren't Entirely Convinced By Aecon Group Inc.'s (TSE:ARE) Revenues Despite 26% Price Jump

May 27
Investors Still Aren't Entirely Convinced By Aecon Group Inc.'s (TSE:ARE) Revenues Despite 26% Price Jump
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Backlog And New Projects Will Unlock US Market Opportunities

The strong backlog and strategic focus on high-margin sectors position Aecon for potential revenue growth and improved margins as key projects transition to execution.

CA$26.36: That's What Analysts Think Aecon Group Inc. (TSE:ARE) Is Worth After Its Latest Results

Mar 08
CA$26.36: That's What Analysts Think Aecon Group Inc. (TSE:ARE) Is Worth After Its Latest Results

Cautious Investors Not Rewarding Aecon Group Inc.'s (TSE:ARE) Performance Completely

Mar 06
Cautious Investors Not Rewarding Aecon Group Inc.'s (TSE:ARE) Performance Completely

Does Aecon Group (TSE:ARE) Have A Healthy Balance Sheet?

Jan 24
Does Aecon Group (TSE:ARE) Have A Healthy Balance Sheet?

Aecon Group (TSE:ARE) Has Announced A Dividend Of CA$0.19

Dec 15
Aecon Group (TSE:ARE) Has Announced A Dividend Of CA$0.19

Aecon Group Inc.'s (TSE:ARE) Shares Leap 30% Yet They're Still Not Telling The Full Story

Nov 15
Aecon Group Inc.'s (TSE:ARE) Shares Leap 30% Yet They're Still Not Telling The Full Story

Aecon Group's (TSE:ARE) Dividend Will Be CA$0.19

Jun 08
Aecon Group's (TSE:ARE) Dividend Will Be CA$0.19

This Is Why Aecon Group Inc.'s (TSE:ARE) CEO Compensation Looks Appropriate

May 29
This Is Why Aecon Group Inc.'s (TSE:ARE) CEO Compensation Looks Appropriate

Concerns Surrounding Aecon Group's (TSE:ARE) Performance

Mar 12
Concerns Surrounding Aecon Group's (TSE:ARE) Performance

Aecon Group (TSE:ARE) Has Announced A Dividend Of CA$0.185

Aug 29
Aecon Group (TSE:ARE) Has Announced A Dividend Of CA$0.185

Earnings and Revenue Growth Forecasts

TSX:ARE - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20275,6221091332274
12/31/20265,3641003422411
12/31/20255,0916-1716511
6/30/20254,90625-90-31N/A
3/31/20254,458-91-76-9N/A
12/31/20244,243-60-468N/A
9/30/20244,106-6496147N/A
6/30/20244,07013157199N/A
3/31/20244,383165131N/A
12/31/20234,6441622751N/A
9/30/20234,780172-122-88N/A
6/30/20234,86173-253-210N/A
3/31/20234,81838-122-80N/A
12/31/20224,69630-155-114N/A
9/30/20224,51823-113-77N/A
6/30/20224,36127-120-94N/A
3/31/20224,20951-174-143N/A
12/31/20213,97750-73-31N/A
9/30/20213,9667018109N/A
6/30/20213,842105155262N/A
3/31/20213,65081124242N/A
12/31/20203,64488134273N/A
9/30/20203,48476206333N/A
6/30/20203,4704531186N/A
3/31/20203,55871-5187N/A
12/31/20193,46073-9196N/A
9/30/20193,49281-326-77N/A
6/30/20193,48680-155106N/A
3/31/20193,37368N/A385N/A
12/31/20183,26659N/A369N/A
9/30/20183,00352N/A545N/A
6/30/20182,74335N/A421N/A
3/31/20182,67427N/A90N/A
12/31/20172,80628N/A197N/A
9/30/20172,96636N/A113N/A
6/30/20173,04439N/A132N/A
3/31/20173,19745N/A174N/A
12/31/20163,21347N/A27N/A
9/30/20163,24265N/A65N/A
6/30/20163,27964N/A26N/A
3/31/20163,10769N/A95N/A
12/31/20152,91869N/A58N/A
9/30/20152,76650N/A43N/A
6/30/20152,73164N/A85N/A
3/31/20152,65439N/A40N/A
12/31/20142,61430N/A75N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ARE's forecast earnings growth (81.6% per year) is above the savings rate (2.6%).

Earnings vs Market: ARE's earnings (81.6% per year) are forecast to grow faster than the Canadian market (11.4% per year).

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

Revenue vs Market: ARE's revenue (5.5% per year) is forecast to grow faster than the Canadian market (4.9% per year).

High Growth Revenue: ARE's revenue (5.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ARE's Return on Equity is forecast to be low in 3 years time (10%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/13 18:46
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Aecon Group Inc. is covered by 18 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher MurrayATB Capital Markets
Gareth TinglingBeacon Securities Limited
null nullBMO Capital Markets Equity Research