Aecon Group Inc. stock analysis
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Aecon Group Inc. (ARE) Stock Price & Analysis
ARE Stock Chart & Stats
- Day’s Range
- CAD 54.68 - CAD 56.66
- 52-Week Range
- CAD 25.05 - CAD 59.96
- Previous Close
- CAD 56.22
- Volume
- N/A
- Average Volume (3M)
- 439.62K
- Market Cap
- CAD 3.86B
- Enterprise Value
- CAD 3.70B
- Total Cash (Recent Filing)
- CAD 1.07B
- Total Debt (Recent Filing)
- CAD 567.35M
- Price to Earnings (P/E)
- ―
- Beta
- 0.58
- Next Earnings
- Mar 10, 2027 (Est.)
- EPS Estimate
- 0.68
- Last Dividend Ex-Date
- Sep 22, 2026
- Dividend Yield
- 1.39%
Bulls Say, Bears Say
Bulls Say
Backlog Visibility
The record backlog provides substantial forward revenue visibility and supports utilization of Aecon’s construction platform over multiple periods. Its multi-year duration reduces reliance on winning immediate awards, while the recent increase indicates strong demand for the company’s infrastructure capabilities.
Recurring Revenue
Growing recurring revenue adds stability to a project-based business by improving predictability between major construction awards. Multi-year master service agreements and near-total renewal rates can support customer retention, recurring cash generation, and a more resilient earnings base.
Nuclear Market Position
The Pickering award strengthens Aecon’s position in Canada’s nuclear infrastructure cycle and expands its secured project base in a specialized market. Its nuclear capabilities, workforce, and fabrication investments may support repeat work across refurbishments and emerging reactor programs.
Bears Say
Unstable Profitability
Persistent earnings volatility and a current net loss weaken confidence that revenue growth consistently converts into shareholder returns. Thin operating profitability leaves less protection against project-cost changes, while unpredictable results can constrain internal reinvestment and financial planning.
Legacy Project Losses
Ongoing losses from legacy projects show that past contract exposures can continue to consume earnings after substantial completion. Although the final project has reached operations, unresolved commercial matters may prolong margin pressure and demonstrate the lasting impact of weaker historical execution.
Cash Flow Quality
Strong cash generation is encouraging, but the gap between positive free cash flow and negative earnings raises questions about repeatability. If working-capital benefits moderate, as management expects, cash conversion could weaken before underlying project profitability has fully stabilized.
Aecon Group Inc. News
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Aecon Group Inc. Stock Smart Score
Company Description
Aecon Group Inc.
Aecon Group Inc., alongside its subsidiaries, delivers a comprehensive array of construction and infrastructure development services to both private and public sector clients across Canada, the United States, and globally. The company operates through two primary divisions: Construction and Concessions. Within its Construction segment, Aecon primarily targets vital areas such as civil infrastructure projects, urban transit systems, nuclear energy facilities, general utility networks, and conventional industrial frameworks. The Concessions segment, conversely, specializes in managing construction ventures through their entire lifecycle, encompassing development, building, financing, and ongoing operations, often structured as public-private partnerships (PPPs). Established in 1877 and headquartered in Toronto, Canada, the firm was originally known as Prefac Concrete Co. Ltd. before rebranding as Aecon Group Inc. in June 2001.
- Sector
- Industrials
- Industry
- Engineering & Construction
- CEO
- Jean-Louis Servranckx
- Employees
- 8,785
- Website
- www.aecon.com
- Address
- 20 Carlson Court, Toronto, ON, M9W 7K6, CA
Aecon Group Inc. (ARE) Earnings & Revenues
ARE Earnings Call
Earnings Call SentimentPositive
The call was strongly positive. Aecon reported record revenue, EBITDA, backlog, contract awards, recurring revenue, and free cash flow, while highlighting improved construction margins, a lower-risk contract mix, nuclear and power-sector positioning, and double-digit 2026 revenue growth. The main challenges were continuing legacy-project losses, lower concessions EBITDA, higher SG&A, moderating working-capital benefits, and tight labor markets, but these issues were presented alongside improving execution and a favorable long-term outlook.
View all TSE:ARE earnings summariesARE Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 16 | 4 | 2 |
| Technical Analysis | 4 | 4 | 2 |
| Moving Averages | 12 | 0 | 0 |








