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Corporacion America Airports SA (CAAP)
NYSE:CAAP
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Corporacion America Airports SA
(NYSE:CAAP)
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Rating:71Outperform
Price Target:
$21.00
▲(16.47% Upside)
Corporacion America Airports SA's strong financial performance and positive earnings call sentiment are the primary drivers of its overall score. The company's robust revenue and EBITDA growth, along with a solid financial position, are significant strengths. However, technical indicators suggest a bearish trend, and the valuation is only moderately attractive, which tempers the overall score.
Corporacion America Airports SA (CAAP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.88B
Dividend YieldN/A
Average Volume (3M)264.22K
Price to Earnings (P/E)20.4
Beta (1Y)0.81
Revenue Growth10.45%
EPS Growth-62.52%
CountryUS
Employees6,100
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.30
Shares Outstanding163,086,820
10 Day Avg. Volume238,228
30 Day Avg. Volume264,219
Financial Highlights & Ratios
PEG Ratio0.59
Price to Book (P/B)2.19
Price to Sales (P/S)1.63
P/FCF Ratio7.64
Enterprise Value/Market Cap1.36
Enterprise Value/Revenue2.11
Enterprise Value/Gross Profit6.41
Enterprise Value/Ebitda6.87
Forecast
1Y Price Target
$24.44Price Target Upside35.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Corporacion America Airports SA Business Overview & Revenue Model
Company DescriptionCorporación América Airports S.A., through its subsidiaries, acquires, develops, and operates airport concessions. It operates 53 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. The company was founded in 1998 and is headquartered in Luxembourg City, Luxembourg. Corporación América Airports S.A. is a subsidiary of A.C.I. Airports S.à r.l.
How the Company Makes MoneyCorporacion America Airports SA generates revenue through multiple streams associated with its airport operations. The primary revenue sources include aeronautical revenues from airlines, such as landing fees, takeoff fees, and passenger service charges. Additionally, CAAP earns non-aeronautical revenues from commercial activities, which encompass retail, duty-free shops, food and beverage concessions, and advertising within the airport premises. The company also benefits from cargo handling services and logistics operations. Strategic partnerships with airlines and other industry stakeholders enhance its service offerings and revenue potential. The operational efficiency and passenger traffic growth at the airports under CAAP's management significantly contribute to its financial performance.
Corporacion America Airports SA Earnings Call Summary
Earnings Call Date:Aug 20, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong performance across most markets with record-breaking passenger traffic and financial growth, though some challenges were noted in Ecuador and Uruguay.Q2-2025 Updates
Positive Updates
Record Passenger Traffic Growth
Passenger traffic increased by 13.7% year-over-year, with historical records in Argentina, Italy, Uruguay, and Armenia. Domestic traffic rose nearly 15%, and international traffic increased by 12%.
Revenue and EBITDA Growth
Revenues grew nearly 19%, with a 23% year-over-year increase in adjusted EBITDA. Revenue per passenger increased to $21.
Strong Cargo Revenue Performance
Cargo revenues were up 30% year-over-year, led by Argentina, Brazil, and Uruguay, due to improved pricing dynamics and new revenue streams.
Solid Financial Position
The quarter closed with a total liquidity position of $595 million, and the net leverage ratio improved to a record low of 1x.
Environmental Approval for Florence Airport
Obtained environmental approval from the region of Tuscany for the Florence Airport Master Plan in April.
Negative Updates
Flat Traffic in Ecuador
Ecuador experienced flat traffic with a 0.5% decline in total passengers, affected by reduced U.S. operations and challenging security conditions.
Decline in Adjusted EBITDA in Ecuador
Adjusted EBITDA in Ecuador declined by 3%, reflecting weaker passenger traffic during the period.
Adverse Weather Impact in Uruguay
July traffic in Uruguay declined 6% year-over-year, mainly due to adverse weather conditions and the removal of a key route.
Company Guidance
In the second quarter of 2025, Corporación América Airports reported robust growth, with passenger traffic increasing by 13.7% year-over-year to nearly 21 million passengers. Argentina led this growth with a 17% increase, while Italy, Uruguay, and Armenia also hit new historical records. Revenues grew by nearly 19%, outpacing passenger growth, and revenue per passenger rose to $21. Adjusted EBITDA increased by 23% year-over-year, with the margin improving by 1.4 percentage points to 38.6%. Cargo revenues surged by 30%, driven by Argentina, Brazil, and Uruguay. The company maintained a strong financial position with liquidity of $595 million and a net leverage ratio of 1x. They also obtained environmental approval for the Florence Airport Master Plan and announced a $150 million dividend distribution from their Argentine subsidiary. The company remains optimistic about continued growth, particularly in Argentina, Italy, and Romania.Corporacion America Airports SA Financial Statement Overview
Summary
Corporacion America Airports SA exhibits strong financial performance with impressive growth in revenue and profitability. The balance sheet shows improved equity and moderate leverage, while cash flow generation is robust. Despite some historical volatility and high debt levels, the company is well-positioned to capitalize on future opportunities in the transportation industry.Income Statement
Corporacion America Airports SA has demonstrated strong revenue growth, with Total Revenue increasing from $1,400 million to $1,843 million, marking a 31.2% growth rate. The company has also improved its profitability, with a Gross Profit Margin of 33.0% and a Net Profit Margin of 15.3% in the latest period. EBIT and EBITDA margins are robust at 24.3% and 35.3%, respectively, indicating efficient cost management and operational effectiveness. However, the company has faced volatility in past years, which could pose risks if market conditions deteriorate.78
Positive
Balance Sheet
The company's current Debt-to-Equity Ratio of 0.85 shows a moderate level of leverage. There has been a significant increase in Stockholders' Equity to $1,369 million, which has strengthened the Equity Ratio to 32.8%. The Return on Equity stands at a healthy 20.6%, reflecting effective utilization of equity capital. However, the overall debt level remains relatively high, which could be a concern if interest rates rise or revenue growth slows.72
Positive
Cash Flow
Corporacion America Airports SA has shown excellent cash flow performance, with Operating Cash Flow increasing to $405 million. The Free Cash Flow has also grown to $393 million, resulting in a solid Free Cash Flow to Net Income Ratio of 1.39. The Free Cash Flow Growth Rate is strong, indicating improved cash generation capabilities. These factors highlight the company's ability to generate cash internally, supporting future growth and debt repayment.80
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.86B | 1.84B | 1.40B | 1.38B | 706.90M | 607.36M |
| Gross Profit | 611.56M | 608.83M | 483.42M | 415.60M | 84.60M | -46.23M |
| EBITDA | 570.64M | 920.66M | 445.09M | 494.23M | 199.27M | -67.82M |
| Net Income | 142.57M | 282.67M | 239.51M | 168.17M | -159.78M | -361.89M |
Balance Sheet | ||||||
| Total Assets | 4.34B | 4.18B | 3.54B | 3.84B | 3.62B | 3.41B |
| Cash, Cash Equivalents and Short-Term Investments | 595.24M | 524.67M | 457.87M | 451.96M | 451.08M | 354.93M |
| Total Debt | 1.15B | 1.17B | 1.35B | 1.47B | 1.45B | 1.36B |
| Total Liabilities | 2.76B | 2.66B | 2.74B | 2.97B | 2.85B | 2.60B |
| Stockholders Equity | 1.47B | 1.37B | 724.98M | 716.10M | 469.73M | 489.41M |
Cash Flow | ||||||
| Free Cash Flow | 327.60M | 393.08M | 345.53M | 292.81M | 99.44M | -8.69M |
| Operating Cash Flow | 341.91M | 405.30M | 356.42M | 302.63M | 107.96M | 838.00K |
| Investing Cash Flow | -26.70M | -32.49M | -66.40M | -5.31M | 7.13M | 1.62M |
| Financing Cash Flow | -253.73M | -271.19M | -201.63M | -234.29M | -3.67M | 90.54M |
Corporacion America Airports SA Technical Analysis
Negative
18.03
Price Trends
19.78
Negative
19.97
Negative
19.49
Negative
Market Momentum
-0.57
Negative
43.10
Neutral
48.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAAP, the sentiment is Negative. The current price of 18.03 is below the 20-day moving average (MA) of 18.24, below the 50-day MA of 19.78, and below the 200-day MA of 19.49, indicating a bearish trend. The MACD of -0.57 indicates Negative momentum. The RSI at 43.10 is Neutral, neither overbought nor oversold. The STOCH value of 48.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CAAP.
Corporacion America Airports SA Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $5.01B | 7.88 | 26.60% | 5.25% | -0.69% | -5.49% | |
78 Outperform | $9.42B | 14.86 | 28.86% | 10.51% | 5.67% | -9.58% | |
77 Outperform | $5.08B | 19.26 | 59.78% | 4.40% | -7.59% | -9.80% | |
72 Outperform | $11.46B | 24.45 | 47.69% | 5.38% | 7.45% | -13.53% | |
71 Outperform | $2.88B | 20.37 | 10.46% | ― | 10.45% | -62.52% | |
68 Neutral | $3.93B | 10.00 | 16.95% | ― | 20.45% | 131.25% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
CAAP
Corporacion America Airports SA
18.03
-0.25
-1.37%
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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.