Actividades de Construccion y Servicios SA (ACSAY) AI Stock Analysis

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Actividades de Construccion y Servicios SA

(Other OTC:ACSAY)

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Rating:65Neutral

Price Target:$22.00▲(9.56% Upside)

Action:reiterated

Date:11/01/26

Strong operating performance and cash generation are the primary positives, but high leverage materially increases financial risk. Weak technical momentum and only moderate valuation support limit the overall score.

Positive Factors

Steady Revenue GrowthSteady revenue expansion indicates sustained demand for the company’s construction and related services rather than reliance on a single reported period. Continued topline growth can support operating scale, strengthen market position, and provide a base for earnings growth over the next several quarters.

Negative Factors

Elevated LeverageHigh leverage reduces financial flexibility and leaves the company more sensitive to earnings volatility and funding conditions. In a cyclical, project-driven business, elevated debt can constrain investment choices and make it harder to absorb weaker project performance or downturns.

Actividades de Construccion y Servicios SA (ACSAY) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $131.49B
Dividend Yield: ―
Average Volume (3M): 98.58K
Price to Earnings (P/E): 24.0
Beta (1Y): 0.89
Revenue Growth: 18.47%
EPS Growth: 23.30%
Country: US
Employees: 167,803
Sector: Industrials
Sector Strength: 63
Industry: Engineering & Construction

Actividades de Construccion y Servicios SA Business Overview & Revenue Model

Company Description

ACS, Actividades de Construcción y Servicios, S.A., a company founded in Madrid, Spain, in 1997, provides a broad spectrum of construction and related services both domestically and internationally. Their core activities encompass the development and...

Actividades de Construccion y Servicios SA Earnings Call Summary

Earnings Call Date:May 12, 2026(Q1-2026)|% Change Since:-36.42%|Next Earnings Date:Nov 13, 2023

Earnings Call SentimentPositive

The call presented a predominately positive operational and financial picture: robust revenue and EBITDA growth, strong cash generation, significant backlog expansion (notably in data centers), and material improvements in net debt and shareholder remuneration. Management reiterated 2026 guidance but declined to upgrade immediately due to external risks (geopolitics and FX), some one‑off consolidation impacts (Dragados) and residual execution/chain risks in data center buildouts. On balance, the company showed strong momentum and execution but acknowledged near‑term external uncertainties and concentration considerations.

Positive Updates

Strong Operational Profit Growth

Operational net profit reached EUR 239 million, up 25% year‑on‑year and in line with the top end of 2026 guidance; nominal net profit stood at EUR 232 million, up 30% FX adjusted.

Negative Updates

Guidance Conservatism and External Uncertainties

Management kept 2026 operational net profit guidance (growth 20%–25%) unchanged despite strong Q1 results, citing geopolitical uncertainty (notably Middle East/Iran) and FX volatility as reasons to avoid an immediate upgrade.

Company Guidance

ACS reiterated 2026 operational net profit guidance of roughly €1.07–1.30bn (implying 20–25% growth), a view the company says is supported by Q1 outperformance (operational net profit €239m, +25% yoy, and net profit €232m, +30% FX‑adj). Key Q1/rolling metrics cited: sales €12.3bn (+12.5% FX‑adj), EBITDA €772m (~+16% FX‑adj), PBT €410m (~+24% FX‑adj), new orders €17.5bn (L12M book‑to‑bill 1.3x; +20.3% FX‑adj), backlog ~€99.8bn (+16% FX‑adj) with data‑center backlog €19.4bn (≈+118% YoY), L12M net operating cash flow €2.3bn, net debt €1.5bn (improved €1.4bn YoY), and management expects ongoing annual net operating cash flow post‑dividend of roughly €0.8–0.9bn; shareholder payout was increased 20% to €2.4 per share (around a 65% payout ratio).

Actividades de Construccion y Servicios SA Financial Statement Overview

Summary

Revenue and profit growth, strong cash generation, positive free cash flow, and healthy returns support the score. High leverage and relatively thin margins are the main risks.

Income Statement

78Positive

Balance Sheet

62Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	51.91B	49.85B	41.63B	35.74B	33.62B	27.84B
Gross Profit	46.87B	4.62B	13.35B	11.28B	10.25B	8.84B
EBITDA	2.91B	2.42B	2.70B	1.90B	2.11B	805.65M
Net Income	1.01B	950.34M	827.58M	780.12M	668.23M	3.05B
Balance Sheet
Total Assets	49.87B	45.93B	42.03B	36.50B	37.58B	35.66B
Cash, Cash Equivalents and Short-Term Investments	15.83B	14.32B	12.34B	9.82B	10.42B	12.29B
Total Debt	16.29B	16.08B	14.34B	10.39B	11.00B	10.99B
Total Liabilities	43.52B	40.75B	36.91B	30.87B	31.20B	28.64B
Stockholders Equity	6.04B	4.82B	4.71B	5.33B	5.55B	6.33B
Cash Flow
Free Cash Flow	2.49B	2.30B	2.18B	1.01B	1.46B	-183.07M
Operating Cash Flow	3.21B	3.05B	2.79B	1.50B	1.74B	203.14M
Investing Cash Flow	-1.04B	-1.65B	-1.25B	-15.75M	-198.10M	3.40B
Financing Cash Flow	2.53B	47.58M	496.66M	-1.65B	-3.54B	-770.95M

Actividades de Construccion y Servicios SA Technical Analysis

Technical Analysis SentimentNeutral

Last Price20.08

Price Trends

50DMA20.94Negative

100DMA23.46Negative

200DMA25.01Negative

Market Momentum

MACD-0.23Negative

RSI52.18Neutral

STOCH86.48Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACSAY, the sentiment is Neutral. The current price of 20.08 is below the 20-day moving average (MA) of 20.12, below the 50-day MA of 20.94, and below the 200-day MA of 25.01, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 52.18 is Neutral, neither overbought nor oversold. The STOCH value of 86.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ACSAY.

Actividades de Construccion y Servicios SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

ACSAY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PWR	69Neutral	$91.60B	54.17	17.75%	0.07%	37.13%	63.37%
KBR	68Neutral	$4.58B	10.23	27.25%	1.87%	-2.98%	13.08%
ACSAY	65Neutral	$27.36B	23.98	19.75%	―	18.47%	23.30%
J	64Neutral	$18.43B	55.55	9.81%	0.88%	20.03%	-28.63%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
FLR	55Neutral	$6.49B	-7.60	-40.09%	―	1.92%	-135.87%
ACM	48Neutral	$9.04B	31.95	12.54%	1.77%	-4.24%	-44.22%

* Industrials Sector Average

Performance Comparison

ACSAY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ACSAY	Actividades de Construccion y Servicios SA	20.08	2.38	13.44%
ACM	Aecom	70.50	-59.27	-45.67%
FLR	Fluor Corporation	48.98	7.86	19.11%
J	Jacobs Solutions Inc.	158.23	9.23	6.19%
KBR	KBR Inc	35.59	-4.29	-10.76%
PWR	Quanta Services	602.01	175.47	41.14%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 01, 2026

Actividades de Construccion y Servicios SA AI Stock Analysis