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ACS

ACS Actividades de Construcción y ServiciosBME:ACS Stock Report

Market Cap

€6.4b

7D

-0.1%

1Y

-2.5%

Updated

16 Oct, 2021

Data

Company Financials +
ACS fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance1/6
Financial Health2/6
Dividends4/6

ACS Overview

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

ACS Actividades de Construcción y Servicios Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ACS Actividades de Construcción y Servicios
Historical stock prices
Current Share Price€22.73
52 Week High€19.52
52 Week Low€29.48
Beta1.46
1 Month Change-1.73%
3 Month Change5.67%
1 Year Change-2.49%
3 Year Change-29.95%
5 Year Change-15.82%
Change since IPO307.93%

Recent News & Updates

Sep 28
Is ACS Actividades de Construcción y Servicios (BME:ACS) Using Too Much Debt?

Is ACS Actividades de Construcción y Servicios (BME:ACS) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Jun 28
ACS Actividades de Construcción y Servicios (BME:ACS) Seems To Be Using A Lot Of Debt

ACS Actividades de Construcción y Servicios (BME:ACS) Seems To Be Using A Lot Of Debt

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

May 26
A Look At The Intrinsic Value Of ACS, Actividades de Construcción y Servicios, S.A. (BME:ACS)

A Look At The Intrinsic Value Of ACS, Actividades de Construcción y Servicios, S.A. (BME:ACS)

Today we will run through one way of estimating the intrinsic value of ACS, Actividades de Construcción y Servicios...

Shareholder Returns

ACSES ConstructionES Market
7D-0.1%2.1%0.6%
1Y-2.5%22.3%25.3%

Return vs Industry: ACS underperformed the Spanish Construction industry which returned 22.3% over the past year.

Return vs Market: ACS underperformed the Spanish Market which returned 25% over the past year.

Price Volatility

Is ACS's price volatile compared to industry and market?
ACS volatility
ACS Beta1.46
Industry Beta1.12
Market Beta1

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

Volatility Over Time: ACS's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1997120,130Cristóbal Valderas Alvaradohttps://www.grupoacs.com

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 undertakes construction activities related to development of highways, railways, maritime, and airport works; residential, and social infrastructure and facilities; and contracts for the provision of mining services and infrastructure required for mining activities. It is also involved in the industrial maintenance contracts and services, as well as support services to the clients’ operational activities, including electricity, gas, and water network maintenance services and activities; 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.

ACS Actividades de Construcción y Servicios Fundamentals Summary

How do ACS Actividades de Construcción y Servicios's earnings and revenue compare to its market cap?
ACS fundamental statistics
Market Cap€6.40b
Earnings (TTM)€579.36m
Revenue (TTM)€33.38b

11.0x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACS income statement (TTM)
Revenue€33.38b
Cost of Revenue€22.52b
Gross Profit€10.86b
Expenses€10.28b
Earnings€579.36m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.06
Gross Margin32.53%
Net Profit Margin1.74%
Debt/Equity Ratio249.4%

How did ACS perform over the long term?

See historical performance and comparison

Dividends

5.6%

Current Dividend Yield

85%

Payout Ratio

Valuation

Is ACS Actividades de Construcción y Servicios undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACS (€22.73) is trading below our estimate of fair value (€82.12)

Significantly Below Fair Value: ACS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ACS is good value based on its PE Ratio (11x) compared to the Spanish Construction industry average (11.2x).

PE vs Market: ACS is good value based on its PE Ratio (11x) compared to the Spanish market (23.3x).


Price to Earnings Growth Ratio

PEG Ratio: ACS is poor value based on its PEG Ratio (25.2x)


Price to Book Ratio

PB vs Industry: ACS's PB Ratio (1.8x) is in line with the ES Construction industry average.


Future Growth

How is ACS Actividades de Construcción y Servicios forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

0.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACS's forecast earnings growth (0.4% per year) is below the savings rate (0.9%).

Earnings vs Market: ACS's earnings (0.4% per year) are forecast to grow slower than the Spanish market (16.5% per year).

High Growth Earnings: ACS's earnings are forecast to grow, but not significantly.

Revenue vs Market: ACS's revenue (2.7% per year) is forecast to grow slower than the Spanish market (6.4% per year).

High Growth Revenue: ACS's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACS's Return on Equity is forecast to be low in 3 years time (16.5%).


Past Performance

How has ACS Actividades de Construcción y Servicios performed over the past 5 years?

7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACS has a large one-off gain of €1.1B impacting its June 30 2021 financial results.

Growing Profit Margin: ACS's current net profit margins (1.7%) are lower than last year (2.3%).


Past Earnings Growth Analysis

Earnings Trend: ACS's earnings have grown by 7.4% per year over the past 5 years.

Accelerating Growth: ACS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ACS had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the Construction industry average (21.9%).


Return on Equity

High ROE: Whilst ACS's Return on Equity (20.43%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is ACS Actividades de Construcción y Servicios's financial position?


Financial Position Analysis

Short Term Liabilities: ACS's short term assets (€25.8B) exceed its short term liabilities (€21.8B).

Long Term Liabilities: ACS's short term assets (€25.8B) exceed its long term liabilities (€11.1B).


Debt to Equity History and Analysis

Debt Level: ACS's debt to equity ratio (249.4%) is considered high.

Reducing Debt: ACS's debt to equity ratio has increased from 228.4% to 249.4% over the past 5 years.

Debt Coverage: ACS's debt is not well covered by operating cash flow (11.4%).

Interest Coverage: ACS's interest payments on its debt are not well covered by EBIT (0.3x coverage).


Balance Sheet


Dividend

What is ACS Actividades de Construcción y Servicios's current dividend yield, its reliability and sustainability?

5.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ACS's dividend (5.56%) is higher than the bottom 25% of dividend payers in the Spanish market (1.47%).

High Dividend: ACS's dividend (5.56%) is in the top 25% of dividend payers in the Spanish market (5.42%)


Stability and Growth of Payments

Stable Dividend: ACS's dividend payments have been volatile in the past 10 years.

Growing Dividend: ACS's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (85.1%), ACS's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACS's dividends in 3 years are forecast to be covered by earnings (69.9% payout ratio).


Next Steps

Management

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

24.8yrs

Average management tenure


CEO

Cristóbal Valderas Alvarado

no data

Tenure

Mr. Cristóbal Valderas Alvarado serves as the Chairman and Chief Executive Officer at Clece at ACS, Actividades de Construcción y Servicios, S.A. (formerly known as Actividades de Construcción y Servicios,...


Leadership Team

Experienced Management: ACS's management team is seasoned and experienced (24.8 years average tenure).


Board Members

Experienced Board: ACS's board of directors are considered experienced (6.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ACS, Actividades de Construcción y Servicios, S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: ACS, Actividades de Construcción y Servicios, S.A.
  • Ticker: ACS
  • Exchange: BME
  • Founded: 1997
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €6.399b
  • Shares outstanding: 281.53m
  • Website: https://www.grupoacs.com

Number of Employees


Location

  • ACS, Actividades de Construcción y Servicios, S.A.
  • Avenida de Pio XII, 102
  • Madrid
  • Madrid
  • 28036
  • Spain

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/16 17:43
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.