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Aktor Societe Anonyme Holding Company Technical and Energy Projects logo

Aktor Societe Anonyme Holding Company Technical and Energy Projects

AKTR.AT
23
Engineering & Construction · Industrials
Price
€10.14
+0.06 (+0.60%)
Market Cap
€2.07B
Exchange
Athens Stock Exchange
Winston Score
23
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Data not available
Stability
Weak
Valuation
Weak

Share count rising — dilution

+437.5% over 5y

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

Diluted shares outstanding: 37.3M (2020) → 200.7M (2025)

Winston Score History

The full picture

Aktor is a Greek construction and infrastructure company. It builds roads, bridges, tunnels, airports, and energy facilities, mainly in Greece and southeastern Europe. It is one of the largest construction groups in Greece and works on major public infrastructure projects funded by both the Greek government and the European Union.

Aktor earns money by winning contracts to design and build large infrastructure projects, then getting paid as the work is completed. Most of its revenue comes from government and public-sector clients, which provides a steady pipeline but also means the company depends heavily on public spending decisions. Greece's ongoing infrastructure investment, partly backed by EU recovery funds, is a key growth driver — but thin profit margins and the risk of project cost overruns remain persistent challenges for the business.

Score breakdown

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Quality

Profit per sale
Gross Margin
13.7%
Thin — 13.7% gross margin
Profit after running costs
Operating Margin
7.3%
Modest — 7.3% operating margin
Return on the money invested
ROCE
3.4%
Weak — 3.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
N/A
Data not available
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
N/A
Data not available

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Stability

What it owes vs what it owns
Debt / Equity
3.40
Heavy debt load (3.40)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
112.8x
Expensive — P/E 112.8

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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