ACS, Actividades de Construccion y Servicios SA

ACS, Actividades de Construccion y Servicios SA

86.25
EUR
-3.90
(-4.33%)
5.96EPS
27.52P/E
33.88BMarket Cap
Mar 04Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
61.73
61.06
61.01
61.3
68.42
74.91
85.07
72.05
82.48
113.04
129.67
153.4
189.92
245.9
Basic EPS, GAAP
1.23
1.26
1.33
1.44
1.57
1.87
2.1
1.41
9.02
2.25
2.83
3.05
3.62
4.63
Free Cash Flow per Basic Share
-0.37
-0.03
2.36
1.56
2.41
3.09
1.59
0.65
-0.54
4.9
3.65
7.86
8.77
- -
Dividend per Share
0.7
0.56
0.63
0.63
0.58
0.65
1.06
1.21
1.17
1.18
1.43
1.36
1.6
0.41
Book Value per Share
10.48
9.86
11.23
11.53
6.76
14.11
14.58
12.42
22.97
21.48
20.45
18.5
18.54
22.72
Tangible Book Value per Share
-3.92
-5.16
-3.37
-2.23
-6.53
-1.78
0.78
-0.46
11.08
8.76
7.86
-3.45
-4.16
-0.48
Basic Weighted Avg Shares
570
571
546
522
510
489
459
407
337
297
276
271
262
263
Sales/Revenue/Turnover
35,178
34,881
33,291
31,975
34,898
36,659
39,049
29,305
27,837
33,615
35,738
41,633
49,848
64,552
Operating Margin (%)
4.94
2.76
3.37
3.93
3.85
4.49
4.04
-0.87
1.95
0.83
2.35
1.98
2.91
- -
Depreciation Expense
1,145
824
652
514
611
818
970
876
479
621
551
866
970
- -
Net Income, GAAP
702
717
725
751
802
916
962
574
3,045
668
780
828
950
1,215
Effective Tax Rate (%)
28.16
40.73
22.67
40.57
23.29
23.58
19.65
28.21
1,372.77
19.95
17.66
- -
27.25
30.76
Profit Margin (%)
1.99
2.06
2.18
2.35
2.3
2.5
2.46
1.96
10.94
1.99
2.18
1.99
1.91
1.88
Working Capital
2,401
432
2,107
236
-94
603
495
1,863
7,463
5,439
3,994
3,834
4,081
6,683
LT Debt
7,300
5,966
7,247
4,767
5,573
7,121
7,457
8,779
9,059
9,356
8,776
11,120
12,027
13,737
Total Equity
5,489
4,898
5,197
4,968
2,910
5,873
5,506
4,276
7,028
6,376
5,631
5,115
5,176
6,348
Return on Invested Capital (%)
6.46
3.32
5.07
5
8.12
8.13
9.39
4.11
-26.63
4.39
5.6
- -
8.03
- -
Return on Capital (%)
5.69
6.18
5.16
5.1
6.57
6.1
8.74
2.53
-5.27
4.38
6.65
- -
6.24
5.65
Return on Common Equity (%)
23.68
22.76
22.47
21.47
28.25
28.38
21.94
14.44
61.76
11.25
14.34
16.48
19.95
23.76

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3,306
- -
2,554
LT Borrowings
11,398
- -
13,052
LT Finance Leases
629
- -
685
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
260
261
266
Market Capitalization
21,494
28,057
33,881

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
29,400
- -
33,444
Cash, Cash Equivalents & STI
13,214
- -
15,833
Accounts Receivable, Net
10,179
- -
12,246
Inventories
874
- -
998
Total Current Liabilities
25,319
- -
26,762
Payables & Accruals
- -
- -
- -
ST Debt
3,306
- -
2,554
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.28%
7.09%
1.19%
Free Cash Flow
-105.5%
-195.34%
8.02%
Net Income, GAAP
37.94%
78.03%
14.83%
Sales/Revenue/Turnover
5.01%
11.66%
19.73%
Total Cash Common Dividend
3.61%
-2.13%
14.24%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,706
10,043
10,953
22,884
41,633
2025
11,790
12,318
12,645
25,739
49,848
2026
12,344
13,824
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.71
0.93
0.76
1.58
3.05
2025
0.74
1.01
0.79
1.89
3.62
2026
0.88
1.06
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.22
0.04
- -
- -
1.36
2025
0.41
0.05
- -
- -
1.6
2026
0.4
0.01
- -
- -
- -

Company Description

CEO
Juan Santamaría Cases
Full Time Employees
167,803
Sector
Industrial services
Industry
Engineering & construction
Address
Avenida de Pio XII, 102 Madrid MD Spain 28036
IPO Date
Oct 29, 1990
Business
ACS, Actividades de Construcción y Servicios, S.A. (ACS.MC) operates as a global leader in infrastructure development, specializing in engineering, civil works, construction, and services across transportation, energy, environment, digital infrastructure, natural resources, and advanced technology sectors; it provides civil engineering projects including highways, railways, airports, marine works, dams, bridges, residential and non-residential buildings, data centers, healthcare facilities, and mining infrastructure; through subsidiaries such as Turner, CIMIC, Dragados, Hochtief, and Cobra, the company delivers construction services, public-private partnerships, concessions, maintenance for buildings and public spaces, telecommunications, renewable energy projects, and industrial services like design, fabrication, and operation of processing plants. ACS maintains operations in over 50 countries, including major presence in Spain, the United States, Australia, Germany, Canada, Brazil, Chile, India, and Morocco, with headquarters in Madrid, Spain, where it was founded in 1997 via the merger of OCP Construcciones and Ginés Navarro Construcciones. Recent developments include a November 2025 joint venture with Global Infrastructure Partners valued at €2 billion to advance digital infrastructure for AI and cloud computing; expanded partnership with Vulcan Energy in December 2025 for end-to-end critical minerals infrastructure; integration of Dragados North America with Flatiron in July 2024 to form Flatiron Dragados, owned 61.8% by ACS; and strong Q3 2025 results with sales up 23.7% to €36.8 billion, raised full-year net profit guidance to €820-855 million driven by data center projects such as a €6 billion CoreWeave AI facility in Pennsylvania.

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