ACS, Actividades de Construcción y Servicios, S.A. (ACSAY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) trades at $27.98 with AI Score 56/100 (Grade B). ACS, Actividades de Construcción y Servicios, S. A. Market cap: $178.08B, Sector: Industrials.
Price live · AI analysis from Jun 14, 2026Analyst Coverage for ACSAY: ACSAY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates ACSAY against Industrials peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
ACSAY: 1/4 perspectives are bullish. Dominant signal: Moon AI bullish.
How is this calculated? →ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) Industrial Operations Profile
ACS, Actividades de Construcción y Servicios, S.A. is a global infrastructure group headquartered in Madrid, Spain, specializing in diverse construction, industrial services, and concession projects. The company's extensive international operations span civil engineering, building, and facility management, positioning it as a key player in large-scale public and private infrastructure development worldwide.
What Is the Investment Thesis for ACSAY?
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) presents an investment profile centered on its extensive global infrastructure footprint and diversified service offerings. With a substantial market capitalization of $178.08B, the company operates across critical sectors including civil engineering, building, and industrial services, supported by a workforce of 157,284 employees. A key value driver is its international diversification, which mitigates regional economic fluctuations and provides stable revenue streams from various geographies. The company's involvement in public-private partnerships (PPPs) for transport and public facilities offers long-term, concession-based revenue visibility. Growth catalysts include ongoing global demand for infrastructure development, particularly in emerging markets and for modernizing aging infrastructure in developed economies. ACS's specialized services in mining infrastructure and social care also tap into resilient demand segments. The company's gross margin of 90.0% indicates strong operational efficiency in its core services, while a dividend yield of 1.60% offers income potential. However, a P/E ratio of 32.7 suggests a premium valuation relative to its profit margin of 2.0%. As an OTC-traded ADR, ACSAY faces risks related to lower liquidity and less stringent reporting, necessitating thorough due diligence on its financial reporting and international regulatory compliance.
Based on FMP financials and quantitative analysis
ACSAY Key Highlights
- Market capitalization of $178.08B, reflecting its substantial global presence in the industrials sector.
- Gross margin of 90.0% demonstrates strong efficiency in its core construction and services operations.
- Profit margin of 2.0% indicates the company's profitability within the competitive infrastructure industry.
- A P/E ratio of 32.7 suggests a premium valuation, potentially reflecting market expectations for future growth.
- Dividend yield of 1.60% provides income to shareholders, consistent with a mature infrastructure company.
Who Are ACSAY's Competitors?
ACSAY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| SMNEY Siemens Energy AG | $193.96 | +6.37% | $165.90B | 42 |
| WRTBY Wärtsilä Oyj Abp | $7.35 | +2.08% | $108.13B | 43 |
| BOUYY Bouygues S.A. | $10.88 | +0.09% | $103.97B | 42 |
| MSBHF Mitsubishi Corporation | $27.53 | +1.05% | $100.81B | 45 |
| VCISF Vinci S.A. | $144.15 | +1.39% | $80.73B | — |
| EKIVF Enka Insaat ve Sanayi A.S. | $1.12 | +7.14% | $6.39B | 64 |
| AGX Argan, Inc. | $738.72 | +4.61% | $10.36B | 62 |
| LGN Legence Corp. | $77.08 | +1.64% | $9.33B | 60 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are ACSAY's Key Strengths?
- Global presence and diversified project portfolio across multiple countries and infrastructure types.
- Strong expertise in large-scale civil engineering and complex construction projects.
- Significant experience in public-private partnerships, offering stable, long-term revenue.
- Comprehensive service offerings, including social services and facility management, beyond traditional construction.
What Are ACSAY's Weaknesses?
- Profit margin of 2.0% is relatively thin for its P/E ratio, indicating potential pressure on profitability.
- Exposure to geopolitical and economic risks across its numerous international markets.
- Reliance on government spending and public contracts, which can be subject to political cycles and budget constraints.
- As an OTC Other listed ADR, it faces lower liquidity and less stringent reporting compared to major exchanges.
What Could Drive ACSAY Stock Higher?
- Awarding of new large-scale infrastructure contracts in key international markets, signaling future revenue growth.
- Government stimulus packages or infrastructure spending initiatives in major economies where ACS operates, driving project demand.
- Successful execution and completion of existing high-profile projects, enhancing reputation and securing future bids.
- Expansion of public-private partnership (PPP) models globally, providing stable, long-term concession revenues.
- Strategic acquisitions or joint ventures that expand ACS's geographic reach or specialized service offerings.
What Are the Key Risks for ACSAY?
- Intense competition within the global engineering and construction sector, potentially pressing margins and contract wins.
- Fluctuations in global economic conditions, leading to reduced public and private investment in infrastructure projects.
- Exposure to currency exchange rate volatility, particularly between the Euro and other major currencies, impacting reported earnings for ADR holders.
- Regulatory changes or increased environmental mandates in various operating countries, potentially increasing project costs or delays.
- Risks associated with being an OTC Other listed ADR, including lower liquidity, less stringent disclosure, and potential for wider bid-ask spreads.
What Are the Growth Opportunities for ACSAY?
- Global Infrastructure Modernization and Expansion: The ongoing global demand for new and upgraded infrastructure, including highways, railways, and maritime facilities, presents a significant growth avenue. Many developed nations face aging infrastructure requiring substantial investment, while emerging economies continue to build foundational networks. ACS, with its proven expertise in large-scale civil engineering projects internationally, is well-positioned to secure contracts in this multi-trillion dollar market. This trend is expected to continue for the next decade, driven by government stimulus packages and urbanization.
- Public-Private Partnerships (PPPs) Development: The increasing reliance on public-private collaboration models for financing and executing large infrastructure and public facilities projects offers a stable and long-term growth opportunity. Governments worldwide are seeking private sector efficiency and capital to deliver essential services. ACS's experience in managing different public-private collaboration models, particularly in transport and public facilities, positions it to capitalize on these long-term concession agreements, providing predictable revenue streams over decades.
- Expansion in Industrial and Mining Services: As global demand for raw materials persists, the need for robust mining infrastructure and specialized industrial services remains strong. ACS's provision of mining services and infrastructure required for mining activities taps into a resilient sector. Furthermore, its broader industrial services, including maintenance and operational support, can be expanded to new regions and clients, benefiting from industrial growth and the outsourcing of non-core functions. This market is driven by commodity cycles and industrial investment, offering consistent project opportunities.
- Growth in Social Infrastructure and Services: The demographic shift towards an aging global population and the increasing focus on early childhood development create sustained demand for social infrastructure and related services. ACS's offerings in care for elderly citizens, dependent people, disabled people, children aged up to three, and the management of playschools and collective restoration, represent a growing market segment. This niche provides a stable, less cyclical revenue stream compared to traditional construction, with long-term contracts often backed by public funding.
- Facility Management and Energy Efficiency Solutions: The increasing complexity of modern buildings and public spaces, coupled with a global imperative for energy efficiency and sustainability, drives demand for integrated facility management services. ACS's services for building maintenance, energy efficiency, cleaning, security, logistics, and public lighting management are directly aligned with these trends. This sector offers recurring revenue through long-term service contracts and opportunities for technological upgrades, contributing to operational cost savings for clients and environmental benefits.
What Opportunities Does ACSAY Have?
- Increasing global demand for infrastructure development and modernization, especially in emerging markets.
- Expansion into new geographic regions or specialized infrastructure segments like renewable energy infrastructure.
- Leveraging technological advancements in construction (e.g., BIM, modular construction) to improve efficiency and reduce costs.
- Growing market for facility management and energy efficiency services driven by sustainability goals.
What Threats Does ACSAY Face?
- Intense competition from other large, global construction and infrastructure firms.
- Fluctuations in raw material prices and labor costs impacting project profitability.
- Regulatory changes, environmental mandates, and permitting delays in various operating countries.
- Economic downturns or recessions leading to reduced public and private investment in construction.
What Are ACSAY's Competitive Advantages?
- Extensive Global Reach and Scale: Operates internationally across diverse geographies, allowing for risk diversification and access to a broad project pipeline that smaller competitors cannot match.
- Diversified Service Portfolio: Offers a comprehensive suite of services from design and construction to long-term operation, maintenance, and social services, creating multiple revenue streams and client stickiness.
- Expertise in Complex Projects: Proven track record in delivering large-scale, technically challenging infrastructure projects (e.g., highways, airports, hydraulic works) that require specialized engineering capabilities and significant capital.
- Public-Private Partnership (PPP) Experience: Strong experience in structuring and managing PPPs provides a competitive edge in securing long-term, stable concession contracts, which are often difficult for new entrants to navigate.
- Established Client Relationships: Decades of operation have built strong relationships with government bodies, public administrations, and large corporations globally, leading to repeat business and preferred contractor status.
What Does ACSAY Do?
ACS, Actividades de Construcción y Servicios, S.A., founded in 1997 and based in Madrid, Spain, has evolved into a prominent global infrastructure group. The company's core business encompasses a wide array of construction and related services, operating both domestically in Spain and across international markets. Its extensive portfolio includes the development of critical infrastructure such as highways, railways, maritime facilities, and airport works, alongside hydraulic infrastructures, coasts, and ports. Beyond large-scale civil engineering projects, ACS is also deeply involved in the construction of educational and sports facilities, residential complexes, and various social infrastructures. The company extends its expertise to specialized areas like mining services, providing the necessary infrastructure for mining activities, and offering comprehensive maintenance services for buildings, public spaces, and organizations. ACS's operational scope further includes the development and management of real estate infrastructures, encompassing design, construction, and ongoing operation. It actively participates in the promotion and development of transport and public facilities, often through public-private collaboration models, demonstrating its adaptability to various project financing and management structures. A distinctive aspect of ACS's service offering is its commitment to social services, providing care for elderly citizens, dependent individuals, disabled people, and children up to three years old, alongside managing playschools and collective restoration services. Furthermore, the company delivers essential building services, including maintenance, energy efficiency solutions, cleaning, security, logistics, and auxiliary services. For public spaces, ACS manages public lighting, involving investments in light fitting upgrades, and provides environmental and airport services, solidifying its position as a multifaceted provider of essential infrastructure and support services globally.
What Products and Services Does ACSAY Offer?
- Constructs highways, railways, maritime, airport, and hydraulic infrastructures globally.
- Develops civil engineering projects, including coasts, ports, and various public facilities.
- Builds educational, sports, residential, and social infrastructures.
- Provides specialized infrastructure and services for mining activities.
- Offers comprehensive maintenance services for buildings, public places, and organizations.
- Engages in the operation and maintenance, and development of real estate infrastructures.
- Designs, develops, constructs, and operates infrastructure projects, real estates, and facilities.
- Promotes and develops transport and public facilities, often through public-private partnerships.
- Provides social services such as care for elderly, dependent, disabled people, and children, and manages playschools.
- Offers building services including maintenance, energy efficiency, cleaning, security, and logistics.
- Manages public lighting, environmental services, and airport services for public spaces.
How Does ACSAY Make Money?
- Generates revenue through direct construction contracts for large-scale infrastructure and building projects.
- Earns income from long-term concession agreements for operating and maintaining transport and public facilities, often through public-private partnerships.
- Provides recurring service revenue from facility management, maintenance, energy efficiency, and social care contracts.
- Undertakes specialized contracts for mining infrastructure development and related services.
- Develops and operates real estate projects, generating sales or rental income.
What Industry Does ACSAY Operate In?
ACS, Actividades de Construcción y Servicios, S.A. operates within the dynamic and capital-intensive Engineering & Construction industry, a crucial segment of the broader Industrials sector. This industry is characterized by significant demand driven by global population growth, urbanization, and the need for infrastructure modernization and expansion. Key market trends include increasing investment in sustainable infrastructure, smart city development, and the growing adoption of public-private partnership (PPP) models to finance large-scale projects. ACS's extensive international reach and diversified service portfolio, spanning civil engineering, building, industrial services, and concessions, position it as a major player capable of undertaking complex projects worldwide. The competitive landscape includes other large, globally diversified construction and infrastructure groups, where differentiation often comes from project execution capabilities, technological integration, and financial strength. ACS's ability to offer a comprehensive suite of services, from initial design to long-term maintenance and social services, allows it to capture value across the entire project lifecycle.
Who Are ACSAY's Key Customers?
- Government entities and public administrations for civil engineering, transport, and social infrastructure projects.
- Private corporations and developers for residential, commercial, and industrial building construction.
- Mining companies requiring specialized infrastructure and services.
- Public and private institutions for facility management, maintenance, and energy efficiency services.
- Individuals and families utilizing social care services (elderly care, childcare).
ACS, Actividades de Construcción y Servicios, S.A. Financial Trajectory
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) reported $12.34B in revenue for Q1 2026, a decline of 5.7% compared to the prior quarter. The company recorded net income of $232.0M, with diluted EPS of $0.04. Quarter-over-quarter revenue has been mixed, typical for a large-cap company operating in Industrials. Across the four most recent quarters, ACSAY averaged $0.04 in diluted EPS.
Company Profile
ACS, Actividades de Construcción y Servicios, S.A. operates in the Engineering & Construction industry within the Industrials sector. It is headquartered in Madrid, ES. The company is led by CEO Juan Santamaria Cases. ACSAY has traded publicly since 2016.
How ACS, Actividades de Construcción y Servicios, S.A. Is Valued
ACS, Actividades de Construcción y Servicios, S.A. carries a market capitalization of $178.08B, placing it in the large-cap category. Relative to its peer group, ACSAY's quantitative score of 56/100 is above the peer average of 43/100.
ROE 22%Key Financial Metrics
Return on equity for ACS, Actividades de Construcción y Servicios, S.A. stands at 21.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 2.2%, showing how much profit it generates from its asset base. ACSAY trades at a trailing price-to-earnings ratio of 32.68, above the Industrials sector average of ~30x. Its free cash flow yield is 1.7%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.16 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 3.1%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 5/9Financial Health
ACS, Actividades de Construcción y Servicios, S.A.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 6.23 places it in the safe zone, indicating low near-term bankruptcy risk.
FY2026 estForward Outlook
Wall Street analysts project ACS, Actividades de Construcción y Servicios, S.A. revenue of about $56.80B for fiscal 2026, with EPS near $0.83. The estimate reflects 16 contributing analysts.
ACSAY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in ACSAY's long-term growth potential, indicating that management believes the company is undervalued.
- Community sentiment has shown a positive shift, with increased discussions around potential infrastructure projects that could benefit ACSAY.
- The company's diversification into renewable energy projects aligns with global sustainability trends, appealing to socially conscious investors.
- Recent contracts won in the construction sector reinforce ACSAY's strong market position and ability to generate revenue in a competitive landscape.
Bear Case
- Concerns over rising material costs and supply chain disruptions have created uncertainty around profit margins for ACSAY.
- Market sentiment has seen some bearish views due to geopolitical factors affecting construction projects in certain regions.
- Some community members express skepticism regarding the company's ability to adapt quickly to changing market conditions, particularly in a post-pandemic world.
- Recent quarterly reports have shown mixed results, leading to doubts about the company's near-term growth trajectory among investors.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $12.34B | $232M | $0.04 |
| Q4 2025 | $13.09B | $295M | $0.05 |
| Q3 2025 | $12.64B | $205M | $0.03 |
| Q2 2025 | $12.32B | $259M | $0.04 |
Based on FMP financials and quantitative analysis
ACSAY Latest News
No recent news available for ACSAY.
ACSAY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for ACSAY.
Price Targets
Wall Street price target analysis for ACSAY.
ACSAY MoonshotScore
What does this score mean?
The MoonshotScore rates ACSAY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Juan Santamaria Cases
Chief Executive Officer
Juan Santamaria Cases leads ACS, Actividades de Construcción y Servicios, S.A., a global infrastructure powerhouse employing 157,284 individuals. His career has been marked by significant leadership roles within the infrastructure and construction sector, demonstrating a deep understanding of complex project management, international operations, and strategic development. Prior to his current role, Santamaria Cases has held various executive positions, accumulating extensive experience in driving growth, optimizing operational efficiencies, and navigating the intricate regulatory landscapes of global markets. His expertise spans across civil engineering, concessions, and industrial services, aligning perfectly with ACS's diversified business model.
Track Record: Under Juan Santamaria Cases' leadership, ACS has continued to solidify its position as a global leader in infrastructure. He has been instrumental in overseeing the execution of numerous large-scale projects worldwide, contributing to the company's robust project pipeline and international expansion. His strategic decisions have focused on enhancing operational performance and fostering innovation across the company's diverse segments. Santamaria Cases has guided ACS through complex market conditions, maintaining its competitive edge and driving shareholder value through disciplined project selection and efficient resource allocation.
ACS, Actividades de Construcción y Servicios, S.A. ADR Information Unsponsored
ACSAY is an American Depositary Receipt (ADR) Level 1, representing shares of Actividades de Construcción y Servicios, S.A., which is primarily listed on the Spanish stock exchange (ACSA). An ADR allows U.S. investors to trade shares of foreign companies on U.S. markets without directly buying shares in the home market. For ACSAY, this means investors hold receipts for underlying shares, facilitating easier access to the Spanish company's equity.
- Home Market Ticker: Bolsa de Madrid, Spain
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: ACSA
ACSAY OTC Market Information
ACSAY trades on the OTC Other tier of the OTC market. The OTC Other tier is the lowest of the OTC Markets Group's three tiers (OTCQX, OTCQB, OTC Other). Companies in this tier typically do not meet the minimum financial standards or disclosure requirements for OTCQX or OTCQB, or they may choose not to provide current information. This means ACSAY is subject to less stringent financial reporting and disclosure obligations compared to companies listed on major exchanges like the NYSE or NASDAQ, or even higher OTC tiers. This can result in less transparency for investors.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Lower liquidity and wider bid-ask spreads, potentially leading to higher transaction costs and difficulty in executing trades.
- Less stringent reporting requirements and "Unknown" disclosure status, resulting in reduced transparency and access to financial information.
- Increased volatility due to lower trading volume and fewer institutional investors.
- Potential for manipulation due to less regulatory oversight compared to major exchanges.
- Difficulty in obtaining reliable, real-time market data and news.
- Verify the company's financial statements directly from its home country filings (Spain).
- Assess the company's global project pipeline and backlog for future revenue visibility.
- Research the regulatory environment and political stability in its key operating geographies.
- Evaluate the management team's track record and experience in international infrastructure.
- Analyze the company's debt levels and cash flow generation capabilities.
- Understand the specific terms and risks associated with its public-private partnership contracts.
- Monitor the EUR/USD exchange rate for currency risk implications.
- Large market capitalization of $178.08B, indicating a significant and established enterprise.
- Long operating history since 1997, suggesting stability and resilience.
- Extensive global operations and a diverse portfolio of major infrastructure projects.
- Managed by a known CEO, Juan Santamaria Cases, overseeing 157,284 employees.
- Underlying shares (ACSA) trade on a regulated major international exchange (Bolsa de Madrid).
ACS, Actividades de Construcción y Servicios, S.A. Industrials Stock: Key Questions Answered
What does ACS, Actividades de Construcción y Servicios, S.A. do?
ACS, Actividades de Construcción y Servicios, S.A. is a global leader in the infrastructure sector, providing a comprehensive range of construction and related services internationally. The company specializes in developing critical infrastructure such as highways, railways, airports, and hydraulic systems, alongside residential, educational, and sports facilities. Beyond traditional construction, ACS offers specialized mining services, facility management, and social services like elderly and childcare. Its business model integrates design, development, construction, operation, and maintenance, often engaging in public-private partnerships. This diversified approach allows ACS to generate revenue from various stages of infrastructure lifecycles and across multiple sectors.
How does ACS, Actividades de Construcción y Servicios, S.A. compare to competitors in its industry?
ACS operates in a highly competitive global engineering and construction market, facing rivals like Vinci S.A. (VCISF) and Bouygues S.A. (BOUYY), which are also diversified infrastructure and construction conglomerates. Compared to these direct competitors, ACS distinguishes itself with its extensive international footprint and significant experience in complex civil engineering projects and public-private partnerships. While companies like Siemens Energy AG (SMNEY) and Wärtsilä Oyj Abp (WRTBY) are in the broader industrials sector, their focus is more on energy technology and marine/power solutions, respectively, making them less direct competitors in core construction. ACS's broad service portfolio, including social services, also provides a unique diversification compared to some peers.
What are the key financial metrics investors watch for ACSAY?
Investors in ACSAY typically monitor several key financial metrics to assess the company's performance and value. Given its capital-intensive industry, the gross margin of 90.0% is crucial, indicating efficiency in project execution and cost management. However, the profit margin of 2.0% highlights the competitive pressures and operational costs that impact ultimate profitability. The P/E ratio of 32.7 suggests market expectations for future growth, which should be evaluated against its current profitability. Furthermore, as an infrastructure company, monitoring its project backlog and new contract awards is vital for future revenue visibility. The dividend yield of 1.60% is also a key metric for income-focused investors, reflecting its shareholder return policy.
What are the main risks for ACSAY?
ACSAY faces several significant risks. Operationally, the global engineering and construction industry is highly competitive, potentially impacting contract wins and profit margins. The company's extensive international operations expose it to geopolitical instability, economic downturns in various regions, and currency exchange rate volatility, particularly between the Euro and the U.S. Dollar, which directly affects ADR holders. Furthermore, as an OTC Other listed ADR with an "Unknown" disclosure status, ACSAY carries risks of lower liquidity, wider bid-ask spreads, and less transparent financial reporting compared to companies on major exchanges. Reliance on government contracts also introduces risks related to political cycles and budget constraints.
What are the key factors to evaluate for ACSAY?
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) holds an AI score of 56/100 (moderate). P/E: 32.7x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does ACSAY data refresh on this page?
ACSAY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven ACSAY's recent stock price performance?
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Global presence and diversified project portfolio across multiple countries and infrastructure types. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider ACSAY overvalued or undervalued right now?
ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) trades at 32.7x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
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- Information is based solely on provided source data. No external research was conducted.