# Arcosa, Inc. (ACA)

> Source: Nexqual · https://nexqual.com/ACA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Arcosa, Inc. (ACA), nexqual.com/ACA" · informational, not investment advice.

**Price:** USD 149.15 (+0.08% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 149.03 · day 148.92–149.21 · 52w 91.4–149.21 · market cap $7.32B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.74B, net income $491M (17.9% margin), free cash flow $135M (SEC filings).
- Valuation: P/E 14.9x (avg 33.6x at the last 3 fiscal year-ends), EV/EBITDA 15.2x, net debt $1.02B.
- Earnings quality: non-operating income -$105M vs operating income $323M over the last four quarters; P/E excluding non-operating income ≈12.6x (estimate: non-operating income taxed at the company's 13% effective rate).
- 1 of 80 tracked superinvestors hold ACA (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (3 analysts), mean target USD 146.67 (range 140–150).
- Total return with dividends: 1Y +60.5% vs S&P 500 +14.9%; 5Y +185.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.58, revenue estimate $720M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.04B | $2.24B | $2.31B | $2.57B | $2.88B | $2.74B |
| Gross profit | $356M | $411M | $444M | $515M | $647M | — |
| Operating income | $107M | $349M | $217M | $198M | $342M | $323M |
| Net income | $69.6M | $246M | $159M | $93.7M | $208M | $491M |
| EPS (diluted) | $1.42 | $5.05 | $3.26 | $1.91 | $4.24 | — |
| Free cash flow | $81.4M | $36.3M | $57.5M | $312M | $176M | $135M |
| Gross margin | 17.5% | 18.3% | 19.2% | 20.0% | 22.4% | — |
| Operating margin | 5.3% | 15.6% | 9.4% | 7.7% | 11.9% | 11.8% |
| Net margin | 3.4% | 11.0% | 6.9% | 3.6% | 7.2% | 17.9% |
| Revenue growth | +5.2% | +10.1% | +2.9% | +11.4% | +12.2% | — |
| Cash + short-term investments | $72.9M | $160M | $105M | $187M | $215M | — |
| Total debt | $686M | $556M | $573M | $1.71B | $1.54B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.9x · P/E ex non-operating (est.) ≈12.6x · P/S 2.7x · EV/EBITDA 15.2x · EV/Sales 3.0x · P/FCF 54.2x · P/B 2.5x · FCF yield 1.85% · Earnings yield 6.71% · Dividend yield (paid, TTM) 0.14% · Net debt $1.02B · EV $8.34B
P/E at fiscal year-ends: Dec 2025 25.0x, Dec 2024 50.4x, Dec 2023 25.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ACA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $18.6M | Added +0.9% |

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 3 analysts; mean target USD 146.67 (low 140, high 150).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +60.5% | +185.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +60.8% | +23.3% |
| Volatility (annualized) | 31.7% | 32.4% |
| Max drawdown | -21.4% (Feb 2026→Mar 2026) | -34.5% (Nov 2024→Mar 2025) |

## Peers (Engineering & Construction)
ACM (AECOM) USD 60.83 +2.25% · DY (Dycom Industries, Inc.) USD 225.16 -5.18% · STN (Stantec Inc) USD 72.77 +3.63% · FLR (Fluor Corporation) USD 43.42 -6.44% · IESC (IES Holdings, Inc.) USD 220.75 -6.70% · TTEK (Tetra Tech, Inc.) USD 36.81 +5.02%

## More
Full page: https://nexqual.com/ACA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ACA's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/1739445/000173944526000029/aca-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | GE Vernova (GEV) | "Revenues from GE Vernova, Inc. ("GE Vernova"), a customer in our" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Construction Products | $357.0M | 54.2% | +0.7% | $55.1M | 15.4% |
| Engineered Structures | $301.7M | 45.8% | +3.0% | $62.0M | 20.6% |
| Corporate costs (not allocated) | — | — | — | -$32.8M | — |
| Total revenue | $658.7M | 100% | — | $84.3M | 12.8% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Total Construction Materials | $312.9M | 47.5% | -1.3% |
| Utility & Related Structures | $230.6M | 35.0% | +12.4% |
| Aggregates | $191.5M | 29.1% | -1.3% |
| Specialty Materials & Asphalt | $134.2M | 20.4% | +0.7% |
| Wind Towers | $71.1M | 10.8% | -19.0% |
| Construction Site Support | $44.1M | 6.7% | +17.6% |
| Total revenue | $658.7M | 100% | — |
The lines above cover 149.4% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.99B | 103.7% | +14.8% |
| Non Us | $90.0M | 3.1% | -1.6% |
| Total revenue | $2.88B | 100% | — |
The lines above cover 106.8% of total revenue.

## Company outlook (8-K filed 2026-08-05)

- "The transaction is expected to close in the first quarter of 2027, subject to the satisfaction or waiver of customary closing conditions set forth in the merger agreement, including, among other things, approval by the Company's stockholders and the receipt of required regulatory approvals."
- "Due to the pending merger, Arcosa is not hosting a quarterly conference call to review its second quarter results and is suspending its practice of providing financial guidance. 972.942.6500 3 arcosa.com Non-GAAP Financial Information This earnings release contains financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles ("GAAP")."
- "Arcosa uses the words "anticipates," "assumes," "believes," "estimates," "expects," "intends," "forecasts," "may," "will," "should," "guidance," "outlook," "strategy," "plans," "goal," and similar expressions to identify these forward-looking statements."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.58 | $1.56 | +1.0% | $720.0M | 4 |
| Next quarter (ends 2026-12-31) | $1.01 | $1.00 | +1.0% | $638.7M | 4 |
| Current fiscal year (ends 2026-12-31) | $4.29 | $4.38 | -2.1% | $2.59B | 3 |
| Next fiscal year (ends 2027-12-31) | $5.12 | $5.08 | +0.7% | $2.84B | 4 |