Aecon Group Inc.
TSX:ARE.TO · Toronto Stock Exchange
+$0.23 today
Vol 1.49M · Avg 0.54M
Intrinsic Value
ARE.TO Intrinsic Value
Start with the valuation result. Compare the current market price with the system DCF estimate, then use the supporting sections below to decide whether the assumptions are reasonable.
Aecon Group Inc.
TSX:ARE.TO · Consensus of 4 models
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Valuation History
Is ARE.TO cheaper or more expensive than usual?
Review how the market has valued Aecon Group Inc. over time before deciding whether today’s discount or premium is unusual.
Price History
Dividend-adjusted closing price
Change
+124.96%
Period High
$56.85
Period Low
$18.41
Latest
$43.71
Analyst Targets
See where analysts expect ARE.TO to trade next
Compare the latest consensus target range with the current share price to understand how much upside or downside Wall Street is pricing in.
Wall Street Price Targets
1-year price history with analyst consensus target
Current
$43.71
Low Target
—
Avg Target
—
High Target
—
Upside (Avg)
—
Alternatives to ARE.TO
Compare Aecon Group Inc. with similar companies
A stock can look attractive in isolation and still be less compelling than a peer. Check competitors before committing to the thesis.
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Fundamental Analysis
Capture the investment case and test company quality
Write down the key idea, risks, and what would change your mind. Then review growth, profitability, returns, owner payouts, and insider activity.
My Notes
Journal entries for ARE.TO
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Quality Snapshot
Start with the numbers that compound value
Check whether earnings, revenue, equity, cash, and returns on capital are moving in the same direction as your written thesis.
Big Five Numbers
CAGR by period · ROIC shows average
| Metric | 10yr | 5yr | 3yr | 1yr |
|---|---|---|---|---|
EPS | N/A | N/A | -4.4% | +102.0% |
Revenue | N/A | N/A | +0.4% | +11.6% |
Equity | N/A | N/A | +7.1% | +5.1% |
Cash | N/A | N/A | +61.6% | +97.4% |
ROIC | N/A | 5.4% | 5.3% | 7.4% |
Analysis
Latest growth is strongest in EPS at +102.0% and weakest in Equity at +5.1%. Three-year average ROIC is 5.3%, which helps show whether that growth is being earned efficiently.
Growth Profile
Compare historical growth with forward expectations
Strong past growth matters more when analysts still expect the business to expand without relying on one temporary driver.
Growth Analysis
Historical CAGR & forward analyst estimates
| Metric | 10yr | 5yr | 3yr | Fwd Est. |
|---|---|---|---|---|
| EPS | N/A | N/A | -4.4% | +5.1% (13yr)7 analysts |
| Revenue | N/A | N/A | +0.4% | +6.4% (13yr)1 analysts |
| Net Income | N/A | N/A | -4.1% | +5.0% (13yr)1 analysts |
| EBIT | N/A | N/A | +33.0% | -12.3% (13yr)1 analysts |
Analysis
Recent growth has been strongest in EBIT at +33.0% over three years. Forward estimates point to Revenue at +6.4% (13yr), giving you a quick check on whether expectations are accelerating or cooling.
Earnings Quality
Follow revenue through to net income
Use the waterfall to see which costs, margins, and operating lines explain how much of each sales dollar becomes profit.
Stock Ticker Earnings Waterfall
TSX:ARE.TO · Revenue to Net Income
Key Ratios
Analysis
$5.6B of revenue converted into $35.2M of net income for the selected period. Gross margin is 7.1% and net margin is 0.5%, showing how much revenue survives after costs and taxes. EPS is $0.51, tying the income statement back to per-share earnings.
Capital Efficiency
Measure how well Aecon Group Inc. turns capital into returns
Returns on equity, invested capital, and assets help separate durable operators from businesses that only grow by adding more capital.
Return Metrics
ROE, ROIC & ROA over time
ROE
1.6%
avg 5.9%
ROIC
1.7%
avg 4.6%
ROA
0.4%
avg 1.8%
Analysis
ROIC is currently the strongest return metric at 1.7% versus its period average of 4.6%. 0 of 3 return metrics are above their quality threshold, which helps indicate how efficiently the company turns capital and assets into profit.
Owner Returns
Review how cash comes back to shareholders
Dividends, buybacks, and debt paydown show whether excess cash is being reinvested, returned, or used to strengthen the balance sheet.
Shareholder Returns
Dividend, buyback & debt paydown yields
Dividend Yield (TTM)
2.00%
Buyback Yield (TTM)
0.29%
Debt Paydown (TTM)
0.35%
Total Yield (TTM)
2.64%
Analysis
Total TTM shareholder yield is 2.64% including 0.35% from debt paydown. The largest current contributor is dividends at 2.00%, which helps show whether capital returns are coming from direct cash payouts, share count reduction, or balance sheet cleanup.
Dividend Record
Check payout durability before counting on yield
A dividend is more useful when growth, payout ratio, and free cash flow support the current yield.
Dividends
Dividend history, growth & yield
Yield
1.74%
Annual Div/Share
$0.76
Payout Ratio
172.0%
Frequency
Quarterly
Shareholder Yield
1.87%
Next Ex-Date
Jun 23, 2026
Next Payment
$0.19 · Jul 3, 2026
1Y Growth
+0.3%
3Y CAGR
+1.0%
5Y CAGR
+3.1%
Dividend Payments, Annual Total (TTM) & Yield
Analysis
The current indicated dividend yield is 1.74%, with TTM dividends of $0.76 per share. Three-year dividend growth is +1.0%, which helps show whether payouts are compounding or flattening. The payout ratio is 172.0%, so compare payout growth against earnings coverage. Payments are currently quarterly.
Company Overview
Understand how Aecon Group Inc. makes money
Finish by grounding the numbers in the company profile, leadership, balance sheet, and free cash flow.
Key Information
Leadership
Put the business in management context
Company facts explain what Aecon Group Inc. does; leadership context helps you judge who is responsible for capital allocation and execution.
Management
Key executives, compensation & ownership
| Name | Title | Compensation | Tenure | Age | Shares Owned | Ownership % |
|---|---|---|---|---|---|---|
Jean-Louis Servranckx | President, Chief Executive Officer & Director | $3.49M | — | 65 | — | — |
Thomas Clochard | Executive Vice President & Chief Operating Officer | $1.49M | — | — | — | — |
Jerome Julier | Executive Vice President & Chief Financial Officer | $1.34M | — | — | — | — |
Eric MacDonald | Executive Vice President of Utilities | $1.08M | — | — | — | — |
Alistair MacCallum | Senior Vice President of Finance | $1.01M | — | — | — | — |
Steven N. Nackan | Executive Vice President & President of Concessions | $979,549.00 | — | — | — | — |
Mark Scherer | Executive Vice President & Chief Safety Officer | $959,832.00 | — | — | — | — |
Timothy John Murphy | Executive Vice President & Chief Strategic Affairs Officer | $891,888.00 | — | 67 | — | — |
Adam Borgatti CPIR | Senior Vice President of Corporate Development & Investor Relations | — | — | — | — | — |
Gordana Terkalas | Senior Vice President & Chief People Officer | — | — | — | — | — |
Martina Doyle | General Counsel, Public Company & Corporate Secretary | — | — | — | — | — |
Steven Hong | Director of Corporate Development & Investor Relations | — | — | — | — | — |
John Singleton | Senior Vice President of Industrial East & West | — | — | — | — | — |
Insider Trading
SEC Form 4 transactions — last 12 months
No insider transactions in the last 12 months.
Financial Position
Check what supports the company underneath the income statement
The balance sheet shows liquidity, debt, asset mix, and book value quality before you rely on earnings or growth assumptions.
Balance Sheet
Assets, liabilities & equity
| Cash & Equivalents | $506.6M |
| Receivables | $2.2B |
| Inventory | $16.9M |
| Other Current | $134.8M |
| Total Current Assets | $2.8B |
| PP&E (Net) | $442.1M |
| Goodwill | $222.1M |
| Intangible Assets | $74.4M |
| Long-term Investments | $285.8M |
| Tax Assets | $135.7M |
| Other Non-current | $35.7M |
| Total Non-current Assets | $1.2B |
| Total Assets | $4.0B |
Analysis
Selected assets total $4.0B for Latest. The largest visible component is Receivables at $2.2B, about 54.2% of the tab total. Use the mix to judge balance sheet concentration, liquidity, leverage, and how much of book value is supported by tangible operating assets.
Cash Generation
Finish by testing whether profit turns into cash
Free cash flow connects accounting earnings to owner earnings, showing how much cash remains after reinvestment needs.
Free Cash Flow
Net Income to FCF bridge
Analysis
Analysis will appear once cash flow data is available for this period.
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