A 
ACS Actividades de Construccion y Servicios ACS.MC · EUR
Industrials · Construction & Engineering · BME · 🇪🇸 Spain
88.35
+1.55%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€49.85bn
FY2016FY2025
Net income
€950.3m
FY2016FY2025
Free cash flow
€2.30bn
FY2016FY2025
Shareholders' equity
€4.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €49.85bn | €41.63bn | €35.74bn | €33.62bn | €27.84bn | €29.30bn | €39.05bn | €36.66bn | €34.90bn | €31.98bn |
| Research and development | — | — | — | — | — | — | — | €1.4m | €2.0m | €1.3m |
| Operating income | €1.45bn | €1.44bn | €838.3m | €277.8m | €326.2m | €1.15bn | €2.39bn | €1.95bn | €1.75bn | €1.24bn |
| Net income | €950.3m | €827.6m | €780.1m | €668.2m | €3.05bn | €574.0m | €715.7m | €915.6m | €802.0m | €751.0m |
| Diluted earnings per share | 3.69 | 3.21 | 2.99 | 2.46 | 10.13 | 1.91 | 2.09 | 2.48 | 2.06 | 1.87 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €45.93bn | €42.03bn | €36.50bn | €37.58bn | €35.66bn | €37.33bn | €38.59bn | €34.30bn | €31.88bn | €33.37bn |
| Cash and short-term investments | €14.32bn | €12.34bn | €9.82bn | €10.42bn | €11.98bn | €8.96bn | €9.19bn | €8.05bn | €7.43bn | €7.36bn |
| Total liabilities | €40.75bn | €36.91bn | €30.87bn | €31.20bn | €28.64bn | €33.06bn | €33.10bn | €28.24bn | €26.72bn | €28.39bn |
| Debt | €14.79bn | €14.34bn | €10.58bn | €11.08bn | €11.08bn | €11.92bn | €11.50bn | €9.43bn | €8.04bn | €8.69bn |
| Shareholders' equity | €4.82bn | €4.71bn | €5.33bn | €5.55bn | €6.33bn | €3.53bn | €4.42bn | €4.39bn | €3.74bn | €3.58bn |
| Shares outstanding | 257m | 258m | 261m | 272m | 301m | 301m | 342m | 369m | 389m | 401m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €3.05bn | €2.79bn | €1.50bn | €1.74bn | €203.1m | €1.14bn | €2.38bn | €2.32bn | €1.86bn | €1.40bn |
| Capital spending | −€743.8m | −€612.5m | −€495.5m | −€285.2m | −€386.2m | −€876.5m | −€1.16bn | −€809.6m | −€635.7m | −€587.6m |
| Free cash flow | €2.30bn | €2.18bn | €1.01bn | €1.46bn | −€183.1m | €265.2m | €1.22bn | €1.51bn | €1.23bn | €815.3m |
| Dividends paid | −€420.6m | −€368.1m | −€394.5m | −€351.7m | −€396.0m | −€490.1m | −€485.6m | −€315.9m | −€297.2m | −€326.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €13.82bn | €12.34bn | €13.09bn | €12.64bn | €12.32bn | €11.79bn | €11.93bn | €10.95bn |
| Operating income | — | €549.0m | €718.4m | — | −€9.16bn | €11.79bn | €619.7m | −€6.30bn |
| Net income | €278.0m | €232.0m | €295.3m | €204.9m | €259.1m | €191.0m | €222.6m | €188.5m |
| Diluted earnings per share | 1.07 | 0.89 | 1.15 | 0.80 | 1.01 | 0.74 | 0.86 | 0.73 |
| Cash from operations | €1.44bn | −€1.22bn | €2.83bn | −€75.0m | €1.46bn | −€1.36bn | €2.46bn | −€301.0m |
| Capital spending | −€221.0m | −€142.0m | −€743.0m | −€387.0m | −€293.0m | −€94.0m | −€660.0m | −€232.0m |
| Free cash flow | €1.22bn | −€1.36bn | €2.09bn | −€462.0m | €1.17bn | −€1.46bn | €1.79bn | −€533.0m |
| Total assets | €49.87bn | €29.40bn | €45.93bn | €27.43bn | €41.30bn | €27.68bn | €42.03bn | €27.18bn |
| Cash and short-term investments | €15.83bn | €10.47bn | €14.32bn | €11.18bn | €10.87bn | €10.88bn | €12.34bn | €10.32bn |
| Debt | €15.61bn | €2.20bn | €14.79bn | €2.10bn | €13.57bn | €2.89bn | €13.49bn | €2.29bn |
| Shareholders' equity | €6.04bn | €4.96bn | €4.82bn | €4.65bn | €4.19bn | €4.63bn | €4.71bn | €4.27bn |
Financial ratios
Data as of 24 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 2.9% | 4.4% | 2.3% | 0.8% | 1.2% | 3.9% | — | — | — |
| Net margin | 1.9% | 2.0% | 2.2% | 2.0% | 10.9% | 2.0% | — | — | — |
| Return on equity | 19.7% | 17.6% | 14.6% | 12.0% | 48.1% | 16.3% | — | — | — |
| Return on assets | 2.1% | 2.0% | 2.1% | 1.8% | 8.5% | 1.5% | — | — | — |
| Free cash flow yield | 15.6% | 14.0% | 8.1% | 7.9% | 2.1% | 7.1% | — | — | — |
| Revenue growth | 19.7% | 16.5% | 6.3% | 20.8% | -5.0% | -25.0% | — | — | — |
| Earnings growth | 14.8% | 6.1% | 16.7% | -78.1% | 430.6% | -19.8% | — | — | — |
| Current ratio | 1.16x | 1.17x | 1.20x | 1.28x | 1.43x | 1.08x | — | — | — |
| Debt to equity | 3.07x | 2.86x | 1.85x | 1.88x | 1.67x | 3.20x | — | — | — |
| Equity ratio | 10.5% | 11.2% | 14.6% | 14.8% | 17.8% | 9.5% | — | — | — |
| Interest coverage | 1.63x | 2.18x | 1.31x | 0.57x | 0.97x | 3.31x | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.1% | 1.3% | 3.8% | 9.7% | 0.0% | 12.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.0% | 11.2% | 3.6% |
| Operating income | 73.4% | 4.7% | 2.9% |
| Net income | 12.5% | 10.6% | 2.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.2% | 2.5% | 2.5% | 3.5% |
| Net margin | 1.9% | 2.0% | 3.1% | 2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.0 | 15.1 | 13.3 | 10.8 | 2.3 | 14.1 | 16.9 | 13.5 | 15.6 | 15.9 |
| Price to sales | 0.4 | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 29 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.323 | 2.481 | 1.975 | 1.962 | 1.85 | 1.562 | 1.71 | 1.633 |
- 3-for-1 split · 10 Jun 2004
- 1-to-1 reverse split · 21 Mar 2003
- 1-to-1 reverse split · 23 May 2001
- 4-for-1 split · 13 Oct 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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