The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 664.7M (2021) → 750.4M (2025)
ACWA Power Company is a global entity dedicated to financing, developing, building, and operating facilities for electricity generation, green hydrogen production, and water desalination. Its activities are structured across segments encompassing Thermal and Water Desalination, Renewables, and other related areas. Beyond core plant operations, the company provides services including leasing, installation, maintenance, and contracting for power, desalination, and steam plants. It also manages the distribution of electricity, desalinated water, and steam, alongside other complementary business endeavors. The firm utilizes a diverse energy mix, drawing from fossil fuels like oil, coal, and gas, as well as renewable sources such as solar, hydrogen, and wind. ACWA Power currently manages 67 power generation and water desalination projects spanning ten countries: Bahrain, the United Arab Emirates, Azerbaijan, the Kingdom of Saudi Arabia, Oman, Jordan, Egypt, South Africa, Turkey, and Vietnam. Founded in 2004 and headquartered in Riyadh, Kingdom of Saudi Arabia, the company rebranded from International Company for Water and Power Projects to ACWA POWER Company in January 2022.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+19.4% YoY
YoY Growth Rate
Steady revenue growth
-38.5% YoY
YoY Growth Rate
Earnings declining
147M SAR/ year
↓ Declining (-34% vs prior year)
1.9% of revenue
1.9x the sector average (1%)
R&D spend declining — could signal cost-cutting or efficiency
5+ years
Quarterly Free Cash Flow
↓ Burn rate worsening
43.7B SAR cash & investments at current burn rate
ACWA POWER Company is growing revenue at 19% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.
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.
Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.
ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Earnings per share down more than 10%. Either a bad year, or a real decline.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Free cash flow is negative. They are burning cash, not generating it.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
P/E over 35. The market is pricing in heavy, sustained growth.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Modest yield. The bulk of any return needs to come from price appreciation.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
