ACS, Actividades de Construcción y Servicios, S.A. (ACS.MC) stock analysis

In our weekly check, ACS, Actividades de Construcción y Servicios, S.A. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 3, red flags: 6.

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

ACS, Actividades de Construcción y Servicios, S.A. is an Industrials company (Engineering & Construction) based in Spain, listed on BME as ACS.MC.

What our checks show for ACS.MC

Red flags

• Net debt is 0.6x a year of EBITDA (debt/equity 2.7). That limits room in a downturn and raises refinancing risk.
• Operating profit covers interest only 1.4 times: a weak year could make the payments hard.
• The net margin fell by 9 points over 5 years, to 1.9%: the company keeps less of each sale as profit.
• The net margin is only 1.9%: little room if costs rise.
• The stock has fallen as much as 79% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 12.4 years.

Warning signs

• Free cash flow is only 4.4% of revenue.
• Thinly traded (about 491 thousand shares a day): buying and selling can move the price.
• Return on capital (ROCE) is only 5.5%.

Strengths

• The gross margin is 90.3% and has risen by 58.5 points: pricing power is holding.
• Operating cash flow is 3.02x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 18.1% a year over the next years.
• Revenue grew 15.6% a year over the last 3 years.
• Earnings per share grew 18.2% a year over the last 3 years.
• Net profit grew 14.8% a year over the last 3 years.

Next earnings report: 2026-11-12

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Questions

What grade does ACS, Actividades de Construcción y Servicios, S.A. (ACS.MC) have?

In our weekly check, ACS, Actividades de Construcción y Servicios, S.A. is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 3, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of ACS.MC stock?

This week's biggest flags for ACS, Actividades de Construcción y Servicios, S.A.: High debt, Weak interest cover, Margins falling. In total 9 of 25 checks show a warning or a red flag.

What does ACS, Actividades de Construcción y Servicios, S.A. do?

ACS, Actividades de Construcción y Servicios, S.A. is an Industrials company (Engineering & Construction) based in Spain, listed on BME as ACS.MC.

When does ACS, Actividades de Construcción y Servicios, S.A. report earnings next?

The next earnings report is expected on 2026-11-12. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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