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Auckland International Airport
(OTC:AUKNY)
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Rating:58Neutral
Price Target:
$27.00
â–²(4.57% Upside)
Action:Downgraded
Date:08/22/26
The score is driven primarily by mixed financial quality: solid recent profitability and a conservatively levered balance sheet are materially offset by consistently negative free cash flow tied to heavy investment requirements. Technicals are modestly supportive with a positive trend and stable momentum. Valuation is a key drag due to the high P/E and only moderate yield. Earnings-call guidance and commentary add caution given elevated CapEx, rising depreciation, and macro/regulatory uncertainty.
Positive Factors
Resilient revenue and EBITDA growth
Revenue and underlying EBITDA growth show continued recovery and operating scale as passenger activity normalizes. This supports earnings resilience, although future growth remains linked to airline capacity, travel demand and airport utilization.
Negative Factors
Persistent negative free cash flow
Sustained investment spending absorbs operating cash and leaves free cash flow below reported profits. This reduces financial flexibility and increases reliance on debt or other funding, even though the expenditure may support long-term airport capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient revenue and EBITDA growth
Revenue and underlying EBITDA growth show continued recovery and operating scale as passenger activity normalizes. This supports earnings resilience, although future growth remains linked to airline capacity, travel demand and airport utilization.
Read all positive factors
Auckland International Airport (AUKNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.46B
Dividend Yield1.69%
Average Volume (3M)56.00
Price to Earnings (P/E)44.0
Beta (1Y)0.58
Revenue Growth3.64%
EPS Growth-24.70%
CountryUS
Employees825
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.97
Shares Outstanding339,993,770
10 Day Avg. Volume170
30 Day Avg. Volume56
Financial Highlights & Ratios
PEG Ratio-1.88
Price to Book (P/B)1.36
Price to Sales (P/S)14.17
P/FCF Ratio-31.77
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.55
Revenue Forecast (FY)$643.60M
Auckland International Airport Business Overview & Revenue Model
Company Description
Auckland International Airport Limited (AUKNY) serves as a primary provider of airport infrastructure, comprehensive facilities, and crucial aeronautical services located in Auckland, New Zealand. Its operations are strategically divided into thre...
How the Company Makes Money
Auckland International Airport generates revenue primarily from two broad categories: aeronautical income and non-aeronautical (commercial) income.
1) Aeronautical (airline-related) revenue
- Passenger and aircraft charges: The airport charges ai...
Auckland International Airport Earnings Call Summary
Earnings Call Date:Aug 19, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 24, 2027
Earnings Call Sentiment Positive
The call conveys an overall constructive and resilient picture: strong operational improvements (processing times, customer satisfaction), steady top-line growth (revenue +3%, EBITDAFI +3%, normalized EBITDAFI +6%), major capital delivery (>$1bn commissioned) and solid credit metrics. These positives are tempered by short-term headwinds in the second half from geopolitical/fuel-driven airline capacity consolidation, retail disruption from redevelopment, regional market weakness, elevated depreciation due to heavy commissioning, and regulatory uncertainty. Management's tone is cautiously optimistic — they delivered significant infrastructure progress and maintained financial discipline while flagging ongoing risks and providing conservative guidance for FY27.Positive Updates
Passenger and Cargo Resilience
Total passenger movements rose almost 2% to just over 19 million and cargo movements increased 3% year-on-year, demonstrating resilient travel demand despite global headwinds.
Negative Updates
Second-Half Impact from Geopolitical Events and Fuel Volatility
The last four months of FY26 were negatively impacted by the Middle East conflict and fuel price spikes, prompting airline capacity consolidation and softer consumer sentiment that weakened the later-period performance and Q4 capacity (international capacity reduced ~2.3% in Q4).
Read all updates
Q4-2026 Updates
Positive
Negative
Passenger and Cargo Resilience
Total passenger movements rose almost 2% to just over 19 million and cargo movements increased 3% year-on-year, demonstrating resilient travel demand despite global headwinds.
Read all positive updates
Company Guidance
Auckland Airport guided FY27 underlying earnings of $290–330 million, based on anticipated domestic passenger movements of about 8.3 million and international passenger movements of about 10.8 million, and forecast capital expenditure of $1.0–1.3 billion (with terminal integration the dominant CapEx program); management flagged higher depreciation from the investment programme, said the upper half of the earnings range assumes the passenger forecasts are met, and cautioned the guidance is subject to material adverse events or significant one‑off costs.Auckland International Airport Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
41
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.04B | 929.30M | 836.70M | 622.70M | 300.00M |
| Gross Profit | 510.82M | 929.30M | 660.40M | 292.50M | 49.20M |
| EBITDA | 726.96M | 827.20M | 584.10M | 252.20M | 336.40M |
| Net Income | 343.18M | 420.70M | 5.50M | 43.20M | 191.60M |
Balance Sheet | |||||
| Total Assets | 14.74B | 14.06B | 12.42B | 10.83B | 10.18B |
| Cash, Cash Equivalents and Short-Term Investments | 55.23M | 567.80M | 219.70M | 107.80M | 24.70M |
| Total Debt | 2.76B | 2.49B | 2.68B | 1.82B | 1.48B |
| Total Liabilities | 3.94B | 3.59B | 3.81B | 2.45B | 2.03B |
| Stockholders Equity | 10.81B | 10.47B | 8.61B | 8.38B | 8.15B |
Cash Flow | |||||
| Free Cash Flow | -463.45M | -463.50M | -350.90M | -157.60M | -128.60M |
| Operating Cash Flow | 463.14M | 474.30M | 496.30M | 307.50M | 96.20M |
| Investing Cash Flow | -1.06B | -1.11B | -1.12B | -578.00M | -278.20M |
| Financing Cash Flow | 67.36M | 979.00M | 741.20M | 352.00M | 127.20M |
Auckland International Airport Technical Analysis
Neutral
25.82
Price Trends
25.36
Negative
24.83
Positive
24.51
Positive
Market Momentum
-0.08
Positive
43.25
Neutral
12.08
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AUKNY, the sentiment is Neutral. The current price of 25.82 is above the 20-day moving average (MA) of 25.61, above the 50-day MA of 25.36, and above the 200-day MA of 24.51, indicating a neutral trend. The MACD of -0.08 indicates Positive momentum. The RSI at 43.25 is Neutral, neither overbought nor oversold. The STOCH value of 12.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AUKNY.
Auckland International Airport Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $7.69B | 12.97 | 31.71% | 8.69% | 23.46% | -12.16% | |
76 Outperform | $4.82B | 14.94 | 50.53% | 5.43% | 13.97% | 14.66% | |
71 Outperform | $12.25B | 17.56 | 39.76% | 3.83% | 16.80% | 17.58% | |
67 Neutral | $3.94B | 14.39 | 16.62% | 3.77% | 16.22% | 102.59% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $8.46B | 43.98 | 3.12% | 1.69% | 3.64% | -24.70% |
* Industrials Sector Average
AUKNY
Auckland International Airport
24.91
2.39
10.63%
OMAB
Grupo Aeroportuario Del Centro
99.35
-5.54
-5.28%
PAC
Grupo Aeroportuario del Pacifico
207.95
-40.27
-16.22%
ASR
Grupo Aeroportuario del Sureste
253.64
-62.71
-19.82%
CAAP
Corporacion America Airports SA
24.46
5.13
26.52%
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.