ACS Actividades de Construcción y Servicios
- Home ›
- ES ›
- Capital Goods
ACS, Actividades de Construcción y Servicios, S.A. The last earnings update was 18 days ago. More info.
Add to Portfolio Compare Print
ACS Share Price and Events
7 Day Returns
1 Year Returns
ACS Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| ACS Actividades de Construcción y Servicios (ACS) | 0.3% | 5.5% | 15.4% | 18.9% | 41% | 36.1% |
| ES Construction | 1% | 1.5% | 8.1% | 12% | 19% | -12.8% |
| ES Market | 1.2% | 2% | 5.9% | -1.9% | 6.3% | -9.4% |
1 Year Return vs Industry and Market
- ACS outperformed the Construction industry which returned 12% over the past year.
- ACS outperformed the Market in Spain which returned -1.9% over the past year.
ACS Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
ACS Actividades de Construcción y Servicios
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for ACS Actividades de Construcción y Servicios.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 12 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 12.8% |
| Perpetual Growth Rate | 10-Year ES Government Bond Rate | 1.5% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year ES Govt Bond Rate | 1.5% |
| Equity Risk Premium | S&P Global | 8.2% |
| Construction Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.037 (1 + (1- 25%) (67.06%)) |
1.375 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.37 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (1.375 * 8.18%) |
12.77% |
Discounted Cash Flow Calculation for BME:ACS using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for ACS Actividades de Construcción y Servicios is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 12.77%) |
|
|---|---|---|---|
| 2019 | 1,335.31 | Analyst x7 | 1,184.09 |
| 2020 | 1,443.91 | Analyst x7 | 1,135.38 |
| 2021 | 1,735.82 | Analyst x4 | 1,210.34 |
| 2022 | 1,757.67 | Analyst x3 | 1,086.78 |
| 2023 | 1,892.00 | Analyst x1 | 1,037.35 |
| 2024 | 1,998.22 | Est @ 5.61% | 971.52 |
| 2025 | 2,085.90 | Est @ 4.39% | 899.29 |
| 2026 | 2,159.51 | Est @ 3.53% | 825.59 |
| 2027 | 2,222.75 | Est @ 2.93% | 753.53 |
| 2028 | 2,278.49 | Est @ 2.51% | 684.95 |
| Present value of next 10 years cash flows | €9,788.80 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €2,278.49 × (1 + 1.53%) ÷ (12.77% – 1.53%) |
€20,570.69 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €20,570.69 ÷ (1 + 12.77%)10 |
€6,183.85 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €9,788.80 + €6,183.85 |
€15,972.65 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €15,972.65 / 308.22 |
€51.82 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €51.82 |
| Current discount | Discount to share price of
€40.77
= -1 x (€40.77 - €51.82) / €51.82 |
21.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- ACS Actividades de Construcción y Servicios's share price is below the future cash flow value, and at a moderate discount (> 20%).
- ACS Actividades de Construcción y Servicios's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for ACS Actividades de Construcción y Servicios's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
ACS Actividades de Construcción y Servicios's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in EUR | €2.94 |
| BME:ACS Share Price ** | BME (2019-04-18) in EUR | €40.77 |
| Spain Construction Industry PE Ratio | Median Figure of 7 Publicly-Listed Construction Companies | 17.69x |
| Spain Market PE Ratio | Median Figure of 132 Publicly-Listed Companies | 17.89x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of ACS Actividades de Construcción y Servicios.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BME:ACS Share Price ÷ EPS (both in EUR) = 40.77 ÷ 2.94 |
13.86x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- ACS Actividades de Construcción y Servicios is good value based on earnings compared to the ES Construction industry average.
- ACS Actividades de Construcción y Servicios is good value based on earnings compared to the Spain market.
Price based on expected Growth
Does
ACS Actividades de Construcción y Servicios's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 13.86x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts |
5.4%per year |
| Europe Construction Industry PEG Ratio | Median Figure of 46 Publicly-Listed Construction Companies | 1.22x |
| Spain Market PEG Ratio | Median Figure of 75 Publicly-Listed Companies | 1.35x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 13.86x ÷ 5.4% |
2.58x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- ACS Actividades de Construcción y Servicios is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
ACS Actividades de Construcción y Servicios's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in EUR | €14.24 |
| BME:ACS Share Price * | BME (2019-04-18) in EUR | €40.77 |
| Spain Construction Industry PB Ratio | Median Figure of 10 Publicly-Listed Construction Companies | 2.71x |
| Spain Market PB Ratio | Median Figure of 180 Publicly-Listed Companies | 1.84x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BME:ACS Share Price ÷ Book Value per Share (both in EUR) = 40.77 ÷ 14.24 |
2.86x |
* Primary Listing of ACS Actividades de Construcción y Servicios.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- ACS Actividades de Construcción y Servicios is overvalued based on assets compared to the ES Construction industry average.
Value checks
We assess ACS Actividades de Construcción y Servicios's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check) ACS Actividades de Construcción y Servicios has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
ACS Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- ACS Actividades de Construcción y Servicios's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
- ACS Actividades de Construcción y Servicios's earnings growth is positive but not above the Spain market average.
- ACS Actividades de Construcción y Servicios's revenue growth is positive but not above the Spain market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| BME:ACS Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts | 5.4% |
| BME:ACS Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts | 3% |
| Spain Construction Industry Earnings Growth Rate | Market Cap Weighted Average | 9.8% |
| Spain Construction Industry Revenue Growth Rate | Market Cap Weighted Average | 11.2% |
| Spain Market Earnings Growth Rate | Market Cap Weighted Average | 9.8% |
| Spain Market Revenue Growth Rate | Market Cap Weighted Average | 5.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 2,585 | 1,073 | ||
| 2022-12-31 | 41,095 | 2,485 | 1,134 | 2 |
| 2021-12-31 | 39,931 | 2,406 | 1,172 | 6 |
| 2020-12-31 | 39,680 | 2,246 | 1,088 | 12 |
| 2019-12-31 | 38,279 | 2,222 | 1,027 | 10 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 36,642 | 2,051 | 915 |
| 2018-09-30 | 36,217 | 1,838 | 890 |
| 2018-06-30 | 35,266 | 1,967 | 833 |
| 2018-03-31 | 35,197 | 1,974 | 819 |
| 2017-12-31 | 34,884 | 1,863 | 802 |
| 2017-09-30 | 34,356 | 1,563 | 405 |
| 2017-06-30 | 33,783 | 1,651 | 404 |
| 2017-03-31 | 32,809 | 1,605 | 367 |
| 2016-12-31 | 31,969 | 1,403 | 337 |
| 2016-09-30 | 31,531 | 2,160 | 679 |
| 2016-06-30 | 30,999 | 1,611 | 618 |
| 2016-03-31 | 32,243 | 2,026 | 671 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- ACS Actividades de Construcción y Servicios's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
- ACS Actividades de Construcción y Servicios's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
All data from ACS Actividades de Construcción y Servicios Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 3.40 | 3.40 | 3.40 | 1.00 |
| 2021-12-31 | 3.51 | 3.60 | 3.43 | 4.00 |
| 2020-12-31 | 3.49 | 4.03 | 3.23 | 10.00 |
| 2019-12-31 | 3.27 | 3.58 | 3.08 | 9.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2018-12-31 | 2.94 |
| 2018-09-30 | 2.86 |
| 2018-06-30 | 2.67 |
| 2018-03-31 | 2.62 |
| 2017-12-31 | 2.57 |
| 2017-09-30 | 1.30 |
| 2017-06-30 | 1.30 |
| 2017-03-31 | 1.19 |
| 2016-12-31 | 1.10 |
| 2016-09-30 | 2.21 |
| 2016-06-30 | 2.01 |
| 2016-03-31 | 2.18 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- ACS Actividades de Construcción y Servicios is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess ACS Actividades de Construcción y Servicios's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Spain market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Spain market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
ACS Actividades de Construcción y Servicios has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
ACS Past Performance
How has ACS Actividades de Construcción y Servicios performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- ACS Actividades de Construcción y Servicios's year on year earnings growth rate has been positive over the past 5 years.
- ACS Actividades de Construcción y Servicios's 1-year earnings growth exceeds its 5-year average (14.1% vs 5.7%)
- ACS Actividades de Construcción y Servicios's earnings growth has not exceeded the ES Construction industry average in the past year (14.1% vs 15.1%).
Earnings and Revenue History
All data from ACS Actividades de Construcción y Servicios Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 36,642.06 | 915.02 | 7,909.96 | |
| 2018-09-30 | 36,216.94 | 890.01 | 7,815.16 | |
| 2018-06-30 | 35,265.52 | 832.64 | 7,683.78 | |
| 2018-03-31 | 35,196.94 | 819.01 | 7,596.16 | |
| 2017-12-31 | 34,883.94 | 802.01 | 7,688.16 | |
| 2017-09-30 | 34,355.92 | 405.45 | 7,547.76 | |
| 2017-06-30 | 33,783.25 | 404.08 | 7,319.17 | |
| 2017-03-31 | 32,808.92 | 367.45 | 7,084.76 | |
| 2016-12-31 | 31,968.92 | 337.45 | 6,751.76 | |
| 2016-09-30 | 31,531.39 | 679.19 | 6,571.02 | |
| 2016-06-30 | 30,999.46 | 617.59 | 6,278.80 | |
| 2016-03-31 | 32,243.39 | 671.19 | 6,641.02 | |
| 2015-12-31 | 33,295.39 | 675.19 | 7,103.02 | |
| 2015-09-30 | 34,599.31 | 617.28 | 7,649.39 | |
| 2015-06-30 | 35,810.23 | 554.59 | 8,307.07 | |
| 2015-03-31 | 35,406.31 | 555.28 | 8,080.39 | |
| 2014-12-31 | 34,919.31 | 522.28 | 7,761.39 | |
| 2014-09-30 | 31,669.83 | 540.67 | 6,561.99 | |
| 2014-06-30 | 32,423.08 | 670.69 | 6,589.26 | |
| 2014-03-31 | 34,162.83 | 658.67 | 7,274.99 | |
| 2013-12-31 | 35,186.83 | 652.67 | 7,597.99 | |
| 2013-09-30 | 38,925.76 | -280.39 | 9,065.56 | |
| 2013-06-30 | 39,321.79 | -337.78 | 9,003.37 | |
| 2013-03-31 | 38,493.76 | -1,974.39 | 8,692.56 | |
| 2012-12-31 | 38,421.76 | -2,035.39 | 8,680.56 | |
| 2012-09-30 | 38,748.38 | -995.85 | 10,506.52 | |
| 2012-06-30 | 37,845.43 | -1,006.80 | 8,506.49 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst ACS Actividades de Construcción y Servicios has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- ACS Actividades de Construcción y Servicios used its assets more efficiently than the ES Construction industry average last year based on Return on Assets.
- ACS Actividades de Construcción y Servicios has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess ACS Actividades de Construcción y Servicios's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
ACS Actividades de Construcción y Servicios has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
ACS Health
How is ACS Actividades de Construcción y Servicios's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up ACS Actividades de Construcción y Servicios's finances.
The net worth of a company is the difference between its assets and liabilities.
- ACS Actividades de Construcción y Servicios is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- ACS Actividades de Construcción y Servicios's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from ACS Actividades de Construcción y Servicios Company Filings, last reported 3 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 6,055.71 | 8,427.26 | 7,817.04 |
| 2018-09-30 | 3,652.00 | 16,830.00 | 8,666.00 |
| 2018-06-30 | 3,209.06 | 16,227.99 | 7,377.97 |
| 2018-03-31 | 3,419.00 | 7,829.00 | 7,461.00 |
| 2017-12-31 | 5,164.03 | 8,039.78 | 6,943.83 |
| 2017-09-30 | 5,145.00 | 8,599.00 | 7,177.00 |
| 2017-06-30 | 5,017.55 | 8,623.29 | 6,184.40 |
| 2017-03-31 | 5,284.00 | 8,773.00 | 7,072.00 |
| 2016-12-31 | 4,967.55 | 8,689.12 | 6,831.68 |
| 2016-09-30 | 4,894.00 | 9,610.00 | 6,854.00 |
| 2016-06-30 | 4,658.15 | 10,822.14 | 6,672.54 |
| 2016-03-31 | 4,732.00 | 10,770.00 | 6,918.00 |
| 2015-12-31 | 5,197.27 | 10,744.86 | 7,711.90 |
| 2015-09-30 | 5,519.00 | 10,817.00 | 6,871.00 |
| 2015-06-30 | 5,530.40 | 11,297.03 | 7,438.58 |
| 2015-03-31 | 5,693.00 | 12,640.00 | 7,825.00 |
| 2014-12-31 | 4,897.89 | 12,294.41 | 6,860.67 |
| 2014-09-30 | 5,112.00 | 12,266.00 | 5,956.00 |
| 2014-06-30 | 5,009.89 | 12,556.13 | 6,323.00 |
| 2014-03-31 | 5,720.00 | 11,762.00 | 6,657.00 |
| 2013-12-31 | 5,488.91 | 11,274.60 | 6,689.06 |
| 2013-09-30 | 5,693.00 | 11,460.00 | 5,740.00 |
| 2013-06-30 | 5,979.06 | 11,408.49 | 5,146.31 |
| 2013-03-31 | 6,431.00 | 11,808.00 | 5,357.00 |
| 2012-12-31 | 5,711.51 | 11,682.38 | 5,989.98 |
| 2012-09-30 | 5,277.00 | 15,173.00 | 5,597.00 |
| 2012-06-30 | 5,284.44 | 14,945.08 | 6,638.36 |
- ACS Actividades de Construcción y Servicios's level of debt (139.2%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (205.4% vs 139.2% today).
- Debt is well covered by operating cash flow (24.3%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 11x coverage).
Financial health checks
We assess ACS Actividades de Construcción y Servicios's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) ACS Actividades de Construcción y Servicios has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
ACS Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
ACS Actividades de Construcción y Servicios
shares you are expected to receive
€68
in your first year as a dividend.
Dividend Amount
- ACS Actividades de Construcción y Servicios's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (1.87%).
- ACS Actividades de Construcción y Servicios's dividend is below the markets top 25% of dividend payers in Spain (5.04%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
| Europe Construction Industry Average Dividend Yield | Market Cap Weighted Average of 72 Stocks | 3.6% |
| Spain Market Average Dividend Yield | Market Cap Weighted Average of 75 Stocks | 4.3% |
| Spain Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Spain Bottom 25% Dividend Yield | 25th Percentile | 1.9% |
| Spain Top 25% Dividend Yield | 75th Percentile | 5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 2.07 | 1.00 |
| 2022-12-31 | 2.12 | 2.00 |
| 2021-12-31 | 2.11 | 6.00 |
| 2020-12-31 | 1.84 | 13.00 |
| 2019-12-31 | 1.81 | 10.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-07-25 | 1.385 | 3.875 |
| 2018-04-04 | 1.385 | 3.908 |
| 2017-07-28 | 1.210 | 3.811 |
| 2017-03-31 | 1.196 | 3.470 |
| 2017-02-28 | 1.196 | 3.924 |
| 2016-03-21 | 1.151 | 4.199 |
| 2015-05-12 | 1.160 | 4.249 |
| 2015-04-29 | 1.160 | 3.731 |
| 2014-04-25 | 1.156 | 3.732 |
| 2014-02-27 | 1.156 | 4.175 |
| 2013-11-14 | 0.892 | 3.566 |
| 2013-08-29 | 0.892 | 3.776 |
| 2013-05-14 | 1.150 | 5.398 |
| 2013-04-05 | 1.150 | 6.011 |
| 2011-05-10 | 2.050 | 10.275 |
| 2011-04-18 | 2.050 | 6.196 |
| 2010-12-17 | 2.050 | 6.086 |
| 2010-09-30 | 2.050 | 5.633 |
| 2010-03-15 | 2.050 | 6.214 |
| 2009-12-18 | 2.050 | 5.977 |
| 2009-04-22 | 2.050 | 5.776 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess ACS Actividades de Construcción y Servicios's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can ACS Actividades de Construcción y Servicios afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) ACS Actividades de Construcción y Servicios has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
ACS Management
CEO
| AGE | 63 |
| TENURE AS CEO | 1.9 years |
CEO Bio
Mr. Marcelino Fernández Verdes, Civ Eng, has been an Executive Chairman of CIMIC Group Limited since June 11, 2014 and its Executive Director since October 10, 2012. Mr. Fernández Verdes has been the Chairman of the Executive Board and Chief Executive Officer at HOCHTIEF Solutions AG (Germany) since November, 2012 and April 2013 respectively and serves as its Member of Executive Board. He has been the Chief Executive Officer of ACS, Actividades de Construcción y Servicios, S.A since May 11, 2017. He has served as Co-Chief Executive Officer of ACS, Actividades de Construcción y Servicios, S.A. He has been the Chief Executive Officer and Chairman of the Executive Board at HOCHTIEF Aktiengesellschaft (alternate name Hochtief AG) since November 21, 2012 and its Member of the Executive Board since March 2012 and served as its Chief Operating Officer from April 15, 2012 to November 2012. He served as the Chief Executive Officer of CIMIC Group Limited since March 13, 2014 until October 18, 2016 and served as its Managing Director. He served as the Chairman and CEO of Dragados since 2004 and was responsible for the Construction area. In 2006, he was appointed Chairman and CEO of ACS Servicios y Concesiones, as well as responsible for the group’s Concessions and environment areas, a responsibility he held until March 2012. He served as the Chief Operating Officer of Hochtief AG. He served as Head of Construction, Concessions & Services Division at Hochtief AG. Mr. Fernández Verdes served as the President of Constructions Division of Actividades de Constuccion y Servicios SA (ACS Actividades De Constuccion&servicios Saacs Actividades De). He joined Actividades De Constuccion Y Servicios SA in 1987 and served as General Director since 1994. He served as a Director of Construction Division of Actividades de Construcción y Servicios, S.A. since 2002. In 1997, he became General Manager of ACS Proyectos, Obras y Construcciones, and then took over as Chairman and CEO in 2000. He has been the Chairman of ACS Servicios since 2001. He has been an Executive Director of Leighton Holdings Limited since October 10, 2012. He served as a Director of Autopista Vasco Aragonesa C.E.S.A., ACS Servicios and Construction Services and Concession areas of Actividades de Construcción y Servicios, S.A. He has been a Director of ACS, Actividades de Construcción y Servicios, S.A. since May 4, 2017. He served as a Director of Thiess Pty Ltd. from April 14, 2014 to March 25, 2015. He served as a Member of the Supervisory Board at Hochtief AG from June 6, 2007 to April 12, 2012. He served as a Director of Inmobiliaria Urbis S.A. and Dragados S.A. Mr. Fernández Verdes was appointed to the Executive Committee of the ACS Group in 2000, and as Chairman and CEO of ACS Servicios y Concesiones, S.L. in 2006. He serves as CEO of ACS Group. He served as a Director of Unión Fenosa, S.A. since December 2007. Mr Fernández Verdes was granted a one-off award of 1,200,000 SARs in 2014 in accordance with the terms of his ESA. Mr. Fernández Verdes is a Civil Engineer. He studied Civil Engineering at the University of Barcelona.
CEO Compensation
- Insufficient data for Marcelino to compare compensation growth.
- Insufficient data for Marcelino to establish whether their remuneration is reasonable compared to companies of similar size in Spain.
Management Team
Florentino Pérez Rodríguez
Executive Chairman
€5M
71
Agustín Torrego
Executive Director
€80K
69
José Del Valle Pérez
General Secretary & Executive Director
€3M
68
22.3 yrs
Marcelino Fernandez Verdes
CEO & Executive Director
63
1.9 yrs
Eugenio Llorente Gómez
Chairman & Chief Executive Officer of Industrial Services
71
Cristóbal Valderas Alvarado
Chief Executive Officer of Clece
José Castillo Lacabex
Chief Executive Officer of Cobra
Peter Davoren
Chairman & Chief Executive Officer of Turner Construction
63
John DiCiurcio
Chairman & Chief Executive Officer of Flatiron
63
Nikolaus von Matuschka
CEO of HOCHTIEF Solutions & Member of the Executive Board - HOCHTIEF AG
55
Board of Directors Tenure
Average tenure and age of the ACS Actividades de Construcción y Servicios board of directors in years:
- The average tenure for the ACS Actividades de Construcción y Servicios board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Florentino Pérez Rodríguez
Executive Chairman
€5M
71
26.3 yrs
José María Viguri
Vice-Chairman
€400K
82
Antonio Ferrer
Vice-Chairman
€2M
73
15.3 yrs
Agustín Torrego
Executive Director
€80K
69
19.8 yrs
José Del Valle Pérez
General Secretary & Executive Director
€3M
68
29.8 yrs
Marcelino Fernandez Verdes
CEO & Executive Director
63
1.9 yrs
Eugenio Llorente Gómez
Chairman & Chief Executive Officer of Industrial Services
71
Peter Davoren
Chairman & Chief Executive Officer of Turner Construction
63
John DiCiurcio
Chairman & Chief Executive Officer of Flatiron
63
2.9 yrs
Antonio García
Independent Director
€84K
71
4 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by ACS Actividades de Construcción y Servicios insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 05. Mar 19 | Buy | José Del Valle Pérez | Individual | 19. Feb 19 | 19. Feb 19 | 3,764 | €50.00 | €188,200 | ||
| 26. Feb 19 | Buy | Pedro López Jiménez | Individual | 20. Feb 19 | 20. Feb 19 | 7,425 | €34.20 | €253,935 | ||
| 21. Feb 19 | Buy | José Echenique Landiríbar | Individual | 18. Feb 19 | 18. Feb 19 | 457 | €34.20 | €15,629 | ||
| 04. Dec 18 | Buy | José María Viguri | Individual | 29. Nov 18 | 30. Nov 18 | 34,000 | €34.07 | €1,156,675 | ||
| 26. Jul 18 | Buy | María Soledad Rodríguez | Individual | 30. Jun 15 | 13. Jul 18 | 786 | €36.50 | €24,365 | ||
| 17. Jul 18 | Buy | Pedro López Jiménez | Individual | 11. Jul 18 | 11. Jul 18 | 14,108 | €36.50 | €514,942 | ||
| 17. Jul 18 | Buy | Antonio Ferrer | Individual | 11. Jul 18 | 11. Jul 18 | 2,256 | €36.50 | €82,344 | ||
| 17. Jul 18 | Buy | José Echenique Landiríbar | Individual | 11. Jul 18 | 11. Jul 18 | 868 | €36.50 | €31,682 | ||
| 14. Jun 18 | Buy | Marcelino Fernandez Verdes | Individual | 07. Jun 18 | 07. Jun 18 | 12,133 | €36.45 | €442,248 | ||
Management checks
We assess ACS Actividades de Construcción y Servicios's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) ACS Actividades de Construcción y Servicios has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
ACS News
Simply Wall St News
Do Insiders Own Lots Of Shares In ACS, Actividades de Construcción y Servicios, S.A. (BME:ACS)?
A look at the shareholders of ACS, Actividades de Construcción y Servicios, S.A. … ACS Actividades de Construcción y Servicios is a pretty big company. … Check out our latest analysis for ACS Actividades de Construcción y Servicios
Simply Wall St - – Full articleACS, Actividades de Construcción y Servicios, S.A.’s (BME:ACS) Investment Returns Are Lagging Its Industry
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.
Simply Wall St - – Full articleWhy ACS Actividades de Construcción y Servicios SA (BME:ACS) Looks Like A Quality Company
By way of learning-by-doing, we'll look at ROE to gain a better understanding ACS Actividades de Construcción y Servicios SA (BME:ACS). … Over the last twelve months ACS Actividades de Construcción y Servicios has recorded a ROE of 35%. … Check out our latest analysis for ACS Actividades de Construcción y Servicios?
Simply Wall St - – Full articleUnderstanding Your Return On Investment In ACS Actividades de Construcción y Servicios SA (BME:ACS)
and want to begin learning the link between ACS Actividades de Construcción y Servicios SA (BME:ACS)’s return fundamentals and stock market performance. … Purchasing ACS Actividades de Construcción y Servicios gives you an ownership stake in the company. … Thus, to understand how your money can grow by investing in ACS Actividades de Construcción y Servicios, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleAn Intrinsic Calculation For ACS Actividades de Construcción y Servicios SA (BME:ACS) Shows It's 39.08% Undervalued
Today, I will calculate the stock's intrinsic value. … by taking the expected future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleIs ACS Actividades de Construcción y Servicios SA's (BME:ACS) Stock Available For A Good Price After Accounting For Growth?
ACS Actividades de Construcción y Servicios SA (BME:ACS) is considered a high growth stock. … View our latest analysis for ACS Actividades de Construcción y Servicios? … Analysts are predicting good growth prospects for ACS Actividades de Construcción y Servicios over the next couple of years
Simply Wall St - – Full articleWhat Do Analysts Think About ACS Actividades de Construcción y Servicios SA's (BME:ACS) Growth?
with profits predicted to rise by 13.45% next year … the higher past 5-year average growth rate of 22.48% … With trailing-twelve-month net income at current levels of €819.01m, we should see this rise to €929.13m in 2019.
Simply Wall St - – Full articleShould ACS Actividades de Construcción y Servicios SA's (BME:ACS) Recent Earnings Worry You?
After reading ACS Actividades de Construcción y Servicios SA's (BME:ACS) most recent earnings announcement (31 March 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … I also compare against an industry benchmark to check whether ACS Actividades de Construcción y Servicios's performance has been impacted by industry movements. … Check out our latest analysis for ACS Actividades de Construcción y Servicios?
Simply Wall St - – Full articleWhat Does ACS Actividades de Construcción y Servicios SA's (BME:ACS) Share Price Indicate?
ACS Actividades de Construcción y Servicios SA (BME:ACS). … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine ACS Actividades de Construcción y Servicios’s valuation and outlook in more detail to determine if there’s still a bargain opportunity.
Simply Wall St - – Full articleIs ACS Actividades de Construcción y Servicios SA (BME:ACS) A Buy At Its Current PE Ratio?
and want to begin learning the link between ACS Actividades de Construcción y Servicios SA (BME:ACS)’s fundamentals and stock market performance. … ACS Actividades de Construcción y Servicios SA (BME:ACS) is trading with a trailing P/E of 13.3x, which is lower than the industry average of 22.7x. … While this makes ACS appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio
Simply Wall St - – Full articleACS Company Info
Description
ACS, Actividades de Construcción y Servicios, S.A. provides construction and related services in Spain, Rest of Europe, North America, South America, the Asia Pacific, and Africa. The company operates through Construction, Industrial services, and Services segments. The Construction segment undertakes projects, including construction of civil work projects, such as highways, railways, ports, and airport works; and residential buildings, social installations and facilities, and infrastructure services, as well as contracts for the provision of mining services and infrastructure required for mining activities. The Industrial services segment is involved in industrial maintenance contracts and services, as well as support services to the clients’ operational activities, including electricity, gas, and water network maintenance services; construction, installation, and maintenance services for high-voltage electricity lines, telecommunications systems, railway installations, electricity facilities, mechanical assemblies, and heating and cooling systems; and installation and operational control systems for industrial and municipal services, as well as the execution of EPC projects for the design, construction, and commissioning of projects connected to the energy sector. The Services segment offers services for people, such as care for the elderly and collective restoration, as well as managing playschools, nursery schools, and food services for communities; services for buildings, including maintenance, energy efficiency, cleaning, security, logistics, and ancillary; and services to the city and the environment comprising public lighting, environmental, and airport services. ACS, Actividades de Construcción y Servicios, S.A. is based in Madrid, Spain.
Details
| Name: | ACS, Actividades de Construcción y Servicios, S.A. |
| ACS | |
| Exchange: | BME |
| Founded: | |
| €12,566,194,754 | |
| 308,221,603 | |
| Website: | http://www.grupoacs.com |
| Address: |
ACS, Actividades de Construcción y Servicios, S.A. Avenida de Pío XII, 102, Madrid, Madrid, 28036, Spain |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| BME | ACS | Ordinary Shares | Bolsas y Mercados Espanoles | ES | EUR | 26. Oct 1990 | |
| OTCPK | ACSA.F | Ordinary Shares | Pink Sheets LLC | US | USD | 26. Oct 1990 | |
| DB | OCI1 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 26. Oct 1990 | |
| LSE | 0HAC | Ordinary Shares | London Stock Exchange | GB | EUR | 26. Oct 1990 | |
| WBAG | ACS | Ordinary Shares | Wiener Boerse AG | AT | EUR | 26. Oct 1990 | |
| BATS-CHIXE | ACSE | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 26. Oct 1990 | |
| OTCPK | ACSA.Y | UNSPONSORED ADR | Pink Sheets LLC | US | USD | 29. Oct 2008 |
Number of employees
Current staff
Industry
| Construction and Engineering | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/21 20:50 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/16 |
| Last earnings filing: | 2019/04/03 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
