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Grupo Aeroportuario del Sureste
(NYSE:ASR)
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Rating:62Neutral
Price Target:
$245.00
▼(-5.79% Downside)
Action:Reiterated
Date:07/26/26
ASR scores 62 primarily due to solid underlying profitability but weakening cash-flow quality and higher leverage, which raise risk in a period of softer traffic and cost pressure. Technicals are notably weak (below key moving averages with negative momentum), offset partly by supportive valuation (moderate P/E and high dividend yield) and a mixed earnings outlook that combines strong liquidity and strategic initiatives with near-term operational headwinds.
Positive Factors
International portfolio expansion
The completed Motiva acquisition materially broadens ASUR’s geographic footprint and adds exposure to Brazil, Latin America’s largest aviation market by passenger traffic. A larger, more diversified concession portfolio can reduce reliance on individual tourist gateways and create additional long-term avenues for traffic and revenue growth.
Negative Factors
Persistent passenger traffic weakness
Recent traffic declines, especially in international passengers and key Mexico and Puerto Rico markets, directly pressure aeronautical charges and passenger-linked commercial activity. Continued softness in major leisure gateways could constrain organic revenue growth and keep ASUR reliant on newly acquired assets for expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
International portfolio expansion
The completed Motiva acquisition materially broadens ASUR’s geographic footprint and adds exposure to Brazil, Latin America’s largest aviation market by passenger traffic. A larger, more diversified concession portfolio can reduce reliance on individual tourist gateways and create additional long-term avenues for traffic and revenue growth.
Read all positive factors
Grupo Aeroportuario del Sureste (ASR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.97B
Dividend Yield9.53%
Average Volume (3M)57.01K
Price to Earnings (P/E)12.8
Beta (1Y)0.42
Revenue Growth23.46%
EPS Growth-12.16%
CountryUS
Employees1,950
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)333.30
Shares Outstanding27,705,000
10 Day Avg. Volume89,682
30 Day Avg. Volume57,009
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)4.42
Price to Sales (P/S)4.69
P/FCF Ratio34.60
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$314.50Price Target Upside20.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)20.87
Revenue Forecast (FY)$2.17B
Grupo Aeroportuario del Sureste Business Overview & Revenue Model
Company Description
Grupo Aeroportuario del Sureste, S. A. B. de C. V., frequently known as ASUR, holds significant agreements for the management, upkeep, and future expansion of numerous airports located in Mexico's southeastern territory. This includes overseeing n...
How the Company Makes Money
ASR makes money primarily by earning fees and charges tied to airport operations and by monetizing commercial activity within airport premises.
1) Aeronautical revenue (airline- and flight-related):
- Passenger-related charges: A significant port...
Grupo Aeroportuario del Sureste Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 26, 2026
Earnings Call Sentiment Neutral
Mixed results: solid liquidity, improved consolidated EBITDA, higher non-aero revenues and clear strategic progress (Motiva pipeline, U.S. commercial rollout, proposed internalization, and shareholder dividends) contrast with notable operational headwinds — weaker traffic (notably Cancun and Puerto Rico), aeronautical revenue contraction, significant margin compression (‑560 bps), and rising Mexico operating costs. Management expects a recovery by winter and highlights long-term strategic benefits, but near-term pressures balance the positive items.Positive Updates
Strong cash generation and liquidity
Operating cash flow for the first half of 2026 was MXN 7.3 billion, up 21% year-over-year; cash and cash equivalents at quarter end were nearly MXN 12 billion and Net Debt/EBITDA was a conservative 0.9x LTM.
Negative Updates
Passenger traffic decline
Total traffic fell 2.7% year-over-year to ~17 million passengers. Mexico declined 5% (with Cancun particularly weak), Puerto Rico declined 3.5%, while Colombia grew 3.6% and Canada increased 10.5%.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong cash generation and liquidity
Operating cash flow for the first half of 2026 was MXN 7.3 billion, up 21% year-over-year; cash and cash equivalents at quarter end were nearly MXN 12 billion and Net Debt/EBITDA was a conservative 0.9x LTM.
Read all positive updates
Company Guidance
The company guided to near-term targets and timing that include: achieving ~99% maximum-tariff compliance by year-end; asking shareholders on Aug 20 to approve the internalization merger that would issue ~7.3 million net new shares (~2.4% of outstanding) and eliminate about MXN 401 million of annual technical‑assistance fees recognized in 2025; two extraordinary cash dividends of MXN 10 per share payable Nov 24 and Dec 15; expecting the Motiva acquisition to close in H2 2026 (Brazil approvals likely in Q3), which would add 20 airports handling roughly 45 million passengers annually; opening Cancun Terminal 1 in Q4 2026 and JFK new Terminal 1 in Q1 2027 (after a $125 million commercial revamp of JFK T8 opened Apr 21 with >60 concepts); completing Cancun Terminal 4 Phase 2 (four gates) by end‑2028; treating ASUR US as a growth platform (current U.S. EBITDA contribution ~MXN 20 million, normalized ~$20 million not expected this year); and pursuing a disciplined capital plan funded from a strong balance sheet (H1 operating cash flow MXN 7.3 billion, cash ≈ MXN 12 billion, Net Debt / LTM EBITDA 0.9x; Q2 capex MXN 2.0 billion). Financial/traffic context cited for the outlook included Q2 revenues MXN 7.4 billion, consolidated EBITDA MXN 4.6 billion (adjusted EBITDA margin 62%, -560 bps), total traffic ~17 million passengers (-2.7% YoY; Mexico -5%, Puerto Rico -3.5%, Colombia +3.6%), losses of ~0.5 million pax in Cancun and 135,000 in Puerto Rico, and short‑term headwinds such as a 42% spike in jet fuel in June.Grupo Aeroportuario del Sureste Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.38B | 37.24B | 31.33B | 25.82B | 25.31B | 18.78B |
| Gross Profit | 19.28B | 20.60B | 20.16B | 15.56B | 18.77B | 12.26B |
| EBITDA | 19.06B | 18.22B | 23.52B | 17.82B | 17.00B | 10.96B |
| Net Income | 10.00B | 10.49B | 13.55B | 10.20B | 9.99B | 5.98B |
Balance Sheet | ||||||
| Total Assets | 90.22B | 88.14B | 83.64B | 70.34B | 70.92B | 65.83B |
| Cash, Cash Equivalents and Short-Term Investments | 11.64B | 11.12B | 20.08B | 13.87B | 13.17B | 8.77B |
| Total Debt | 34.46B | 34.01B | 13.38B | 12.25B | 15.20B | 13.78B |
| Total Liabilities | 41.75B | 41.73B | 22.02B | 18.75B | 21.90B | 20.06B |
| Stockholders Equity | 41.47B | 39.51B | 54.21B | 44.95B | 41.62B | 37.18B |
Cash Flow | ||||||
| Free Cash Flow | -1.22B | 5.05B | 11.17B | 12.07B | 10.68B | 6.59B |
| Operating Cash Flow | 9.17B | 12.86B | 15.57B | 13.45B | 13.46B | 10.26B |
| Investing Cash Flow | -11.69B | -10.46B | -2.75B | -2.45B | -3.79B | -3.41B |
| Financing Cash Flow | -2.63B | -10.28B | -8.92B | -9.32B | -4.83B | -3.31B |
Grupo Aeroportuario del Sureste Technical Analysis
Negative
260.05
Price Trends
258.66
Negative
276.51
Negative
303.24
Negative
Market Momentum
-6.69
Positive
25.47
Positive
20.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASR, the sentiment is Negative. The current price of 260.05 is above the 20-day moving average (MA) of 246.30, above the 50-day MA of 258.66, and below the 200-day MA of 303.24, indicating a bearish trend. The MACD of -6.69 indicates Positive momentum. The RSI at 25.47 is Positive, neither overbought nor oversold. The STOCH value of 20.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASR.
Grupo Aeroportuario del Sureste Risk Analysis
Grupo Aeroportuario del Sureste disclosed 56 risk factors in its most recent earnings report. Grupo Aeroportuario del Sureste reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grupo Aeroportuario del Sureste Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $4.61B | 15.32 | 50.53% | 5.72% | 13.97% | 14.66% | |
71 Outperform | $4.15B | 14.26 | 16.62% | 3.80% | 16.22% | 102.59% | |
67 Neutral | $12.09B | 17.96 | 39.76% | 3.83% | 16.80% | 17.58% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $6.97B | 12.77 | 31.71% | 9.53% | 23.46% | -12.16% | |
51 Neutral | $756.54M | -3.98 | -93.84% | ― | 9.97% | -472.97% | |
49 Neutral | $2.30B | -6.07 | 42.95% | ― | 5.57% | -92.64% |
* Industrials Sector Average
ASR
Grupo Aeroportuario del Sureste
231.39
-71.95
-23.72%
OMAB
Grupo Aeroportuario Del Centro
94.18
-4.95
-5.00%
PAC
Grupo Aeroportuario del Pacifico
196.61
-32.48
-14.18%
VLRS
Controladora Vuela Compania de Aviacion SAB de CV
6.41
-0.52
-7.50%
CAAP
Corporacion America Airports SA
24.28
7.07
41.11%
AERO
Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR
14.92
-5.43
-26.68%
Grupo Aeroportuario del Sureste Corporate Events
Grupo Aeroportuario del Sureste Boosts Latin American Footprint With CPC Aeroportos Acquisition
Sep 28, 2026
On September 1, 2026, ASUR completed the acquisition of 100% of Brazil-based Companhia de Participações em Concessões (CPC Aeroportos) through its Cancún Airport subsidiary, expanding its portfolio of international airport conc...
ASUR Posts Mixed August Traffic Ahead of Motiva Airports Acquisition
Sep 8, 2026
In August 2026, ASUR handled 5.9 million passengers across its Mexico, Puerto Rico and Colombia airports, a 2.1% decline versus August 2025 as international volumes fell 10.7% despite 2.3% growth in domestic traffic. Mexico and Puerto Rico posted ...
Grupo Aeroportuario del Sureste Closes R$5.1 Billion Acquisition of Motiva Airport Assets in Latin America and the Caribbean
Sep 1, 2026
Grupo Aeroportuario del Sureste (ASUR) is a major Latin American airport operator with concessions over 16 airports in Mexico, Colombia and Puerto Rico, and an expanding airport commercial services business at key U.S. hubs such as Los Angeles, Ch...
ASUR Shareholders Approve Merger, Bylaw Changes and Extraordinary Dividends at August 20 Meeting
Aug 20, 2026
On August 20, 2026, ASUR held an Ordinary and Extraordinary General Shareholders’ Meeting in Mexico City, where investors approved amendments to the company’s bylaws to reflect the current regulatory and temporal context. The meeting a...
ASUR Reports Mixed July 2026 Passenger Trends as International Traffic Softens
Aug 5, 2026
On August 5, 2026, ASUR reported that total passenger traffic across its network reached 6.4 million travelers in July 2026, down 1.9% from July 2025, with year‑to‑date volumes slipping 0.6%. The data show diverging trends, as Colombia...
ASUR Posts Higher 2Q26 Revenue but Softer Margins as Passenger Traffic Slips
Jul 23, 2026
On July 23, 2026, ASUR reported second-quarter 2026 results showing a 2.7% year-on-year decline in total passenger traffic, with drops of 5.0% in Mexico and 3.5% in Puerto Rico, partly offset by 3.6% growth in Colombia. Despite weaker volumes, tot...
Grupo Aeroportuario del Sureste Calls August Shareholders’ Meeting to Vote on Merger, Bylaw Changes and Extraordinary Dividends
Jul 13, 2026
Grupo Aeroportuario del Sureste (ASUR), a major airport operator across Mexico, Colombia and Puerto Rico, also runs U.S. airport commercial operations focused on retail and passenger services at large hubs such as LAX, O’Hare and JFK. The co...
Grupo Aeroportuario del Sureste Plans Internalization Deal and Share Issue with ITA
Jul 13, 2026
On July 13, 2026, ASUR published an information statement ahead of an Extraordinary General Shareholders’ Meeting set for August 20, 2026, outlining a proposed internalization and business combination with its long‑time technical servi...
ASUR Reports June 2026 Passenger Traffic Decline Across Key Markets
Jul 6, 2026
On July 6, 2026, ASUR reported that total passenger traffic across its airports reached 5.6 million travelers in June 2026, a 5.8% decline versus June 2025. The drop was led by softer demand in Mexico, where traffic fell 8.5% and international vol...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.