ACS Actividades de Construcción y Servicios Valuation

Q: What is the Fair Price of ACSE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ACSE (€43.86) is trading below our estimate of [[fair value]] (€51.36)

Is ACSE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ACSE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ACSE (€43.86) is trading below our estimate of fair value (€51.36)

Significantly Below Fair Value: ACSE is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ACSE?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ACSE. This is calculated by dividing ACSE's market cap by their current preferred multiple.
What is ACSE's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	n/a

ACSE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.4x
Enterprise Value/EBITDA	16.8x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

How does ACSE's PE Ratio compare to its peers?

The above table shows the PE ratio for ACSE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	12.7x
BBY Balfour Beatty	9.4x	1.1%	UK£2.2b
MGNS Morgan Sindall Group	14.3x	2.8%	UK£1.8b
KLR Keller Group	9.5x	0.4%	UK£1.2b
RNWH Renew Holdings	17.3x	3.6%	UK£846.8m
ACSE ACS Actividades de Construcción y Servicios	13.2x	6.7%	€10.7b

Price-To-Earnings vs Peers: ACSE is expensive based on its Price-To-Earnings Ratio (13.2x) compared to the peer average (12.7x).

Price to Earnings Ratio vs Industry

How does ACSE's PE Ratio compare vs other companies in the European Construction Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	3.8%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	3.8%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: ACSE is expensive based on its Price-To-Earnings Ratio (13.2x) compared to the European Construction industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is ACSE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ACSE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ACSE's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ACSE forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	€42.42 0%	11.1%	€49.25	€33.00	n/a	16
Nov ’25	n/a	€42.42 0%	11.1%	€49.25	€33.00	n/a	16
Oct ’25	€42.26	€40.89 -3.2%	12.1%	€49.25	€30.40	n/a	16
Sep ’25	€40.99	€40.89 -0.2%	12.1%	€49.25	€30.40	n/a	16
Aug ’25	€38.93	€40.54 +4.1%	12.8%	€49.25	€29.80	n/a	16
Jul ’25	€40.60	€38.28 -5.7%	13.0%	€46.00	€29.80	n/a	16
Jun ’25	€41.60	€37.08 -10.9%	12.8%	€43.00	€29.80	n/a	16
May ’25	€38.06	€36.69 -3.6%	13.0%	€43.00	€29.80	n/a	15
Apr ’25	€40.37	€35.71 -11.5%	13.8%	€43.00	€29.80	n/a	14
Mar ’25	€37.05	€34.97 -5.6%	17.7%	€46.00	€26.00	n/a	15
Feb ’25	€36.50	€33.35 -8.6%	16.4%	€43.00	€26.00	n/a	13
Jan ’25	n/a	€32.80 0%	15.0%	€43.00	€26.00	n/a	13
Dec ’24	€36.71	€32.96 -10.2%	14.5%	€43.00	€26.00	n/a	14
Nov ’24	€33.91	€32.63 -3.8%	15.7%	€43.00	€24.00	n/a	14
Oct ’24	€34.11	€31.85 -6.6%	15.2%	€40.10	€24.00	€42.26	14
Sep ’24	n/a	€31.35 0%	13.3%	€40.00	€24.00	€40.99	16
Aug ’24	n/a	€31.35 0%	13.3%	€40.00	€24.00	€38.93	16
Jul ’24	€31.78	€30.89 -2.8%	14.7%	€40.00	€24.00	€40.60	16
Jun ’24	€31.28	€30.78 -1.6%	14.2%	€40.00	€24.00	€41.60	16
May ’24	€31.09	€30.14 -3.1%	14.2%	€40.00	€24.00	€38.06	16
Apr ’24	€28.95	€29.84 +3.1%	15.0%	€40.00	€24.00	€40.37	16
Mar ’24	€28.82	€30.19 +4.8%	14.3%	€40.00	€24.00	€37.05	16
Feb ’24	€27.32	€30.09 +10.1%	14.6%	€40.00	€24.00	€36.50	16
Jan ’24	€27.03	€30.03 +11.1%	14.7%	€40.00	€24.00	n/a	16
Dec ’23	€27.19	€30.03 +10.4%	14.7%	€40.00	€24.00	€36.71	16
Nov ’23	€25.79	€30.13 +16.8%	14.3%	€40.00	€24.00	€33.91	16

Analyst Forecast: Target price is less than 20% higher than the current share price.