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

ACSAF
48
Engineering & Construction · Industrials
Price
$136.50
+0.00 (+0.00%)
Market Cap
$36.23B
Exchange
Other OTC
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
Growth
Exceptional
Cash Flow
Strong
Stability
Weak
Valuation
Strong
Dividends
Strong
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Share count rising — dilution

+1.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 253.8M (2021) → 258.7M (2025)

§Winston Score History

The full picture

ACS, Actividades de Construcción y Servicios, S.A. provides construction and related services in Spain, the United States, Australia, Canada, Germany, rest of Europe, and internationally. The company undertakes civil construction activities related to building infrastructure, such as highways, motorways, railways, maritime hydraulic, and airport works, residential buildings, and non-residential building; data centers, electric vehicle battery, healthcare and educational facilities, airports, sports, and commercial offices; and roads and bridges, dams and water treatment plants, and underground projects. It also offers infrastructure services for railway, transport, communications and technology, energy, resources, water, and defense sectors, as well as maintenance services for buildings, public places, and organizations; mining services. It also engages in the design, construction, and operation of mineral processing plants and associated mining infrastructure; promotion and development of transport concessions; real estate development and management activities; and invests in developing infrastructure projects. In addition, the company provides services for people, such as care for elderly citizens and dependent people. Further, it offers maintenance, cleaning, security, professional energy efficiency, and logistics services. ACS, Actividades de Construcción y Servicios, S.A. was founded in 1997 and is based in Madrid, Spain.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+4.9% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

€0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

€20.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

ACS, Actividades de Construcción y Servicios, S.A. is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
-32.2%
Thin — -32.2% gross margin
Profit after running costs
Operating Margin
-69.1%
Losing money on operations — -69.1%
Return on the money invested
ROCE
-36.2%
Weak — -36.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+37.5%
Fast-growing sales (+37.5% YoY)
Profit growth
EPS YoY
+13.3%
Earnings growing (+13.3% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
264%
Turns 264% of profit into real cash
Spare cash per sale
FCF Margin
2.7%
Thin free cash flow (2.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
2.53
Heavy debt load (2.53)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
29.2x
Growth-priced — P/E 29.2

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+12.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (29.2 → 17.1)

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Dividends

Dividend
Dividend Yield
3.12%
Moderate income — 3.12% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+15.1%
Dividend growing fast (15.1% YoY)

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