Aena SA (AENA) AI Stock Analysis

• Market Cap: €35.64B
• Dividend Yield: 4.44%
• Average Volume (3M): 1.63M
• Price to Earnings (P/E): 17.3
• Beta (1Y): 0.77
• Revenue Growth: 9.47%
• EPS Growth: 6.30%
• Country: ES
• Employees: 9,511
• Sector: Services
• Sector Strength: N/A
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.44
• Shares Outstanding: 1,500,000,000
• 10 Day Avg. Volume: 1,399,675
• 30 Day Avg. Volume: 1,627,061
• PEG Ratio: -0.02
• Price to Book (P/B): 0.36
• Price to Sales (P/S): 0.51
• P/FCF Ratio: 1.54
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €22.74
• Price Target Upside: 3.55% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 80 Outperform
• Price Target: €27.00 ▲(22.95% Upside)

Aena SA's strong financial performance is the most significant factor, supported by robust revenue growth, high profitability, and a solid balance sheet with no debt. Technical analysis indicates a stable trend, and the valuation is reasonable with an attractive dividend yield. These factors collectively contribute to a strong overall stock score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates Aena's ability to expand its market presence and enhance its service offerings, supporting long-term business sustainability.

Profitability Margins

High profitability margins suggest efficient cost management and strong pricing power, which are crucial for maintaining competitive advantage in the airport management industry.

Balance Sheet Health

A debt-free balance sheet provides financial stability and flexibility, enabling Aena to invest in growth opportunities without the burden of interest obligations.

Negative Factors

Competitive Industry

The competitive nature of the airport management industry may pressure Aena's ability to sustain its growth and profitability, requiring strategic innovation and investment.

Future Growth Leveraging

While a debt-free status is beneficial, Aena may need to consider strategic leveraging to finance large-scale projects and maintain its growth trajectory in a capital-intensive industry.

Sustainability of Free Cash Flow

Ensuring sustainable free cash flow is vital for Aena to continue funding operations, growth initiatives, and shareholder returns, especially in a volatile economic environment.

Aena SA Business Overview & Revenue Model

Company Description

Aena S.M.E., S.A., together with its subsidiaries, engages in the operation, maintenance, management, and administration of airport infrastructures and heliports in Spain, Brazil, the United Kingdom, Mexico, and Colombia. The company operates through Airports, Real Estate Services, International, and SCAIRM segments. It also manages commercial spaces in airport terminals and car parks network; and rents areas in airport terminals for duty-free shops, specialty shops, food and beverage establishments, commercial operations, and advertising, as well as financial services. In addition, the company leases office buildings, warehouses, hangars, and cargo storage facilities to airlines, air cargo operators, handling agents, and other airport service providers. It manages 46 airports in Spain; 12 airports in Mexico; 2 airports in Colombia; 1 airport in the United Kingdom; and 6 airports in Brazil. The company was formerly known as Aena, S.A. and changed its name to Aena S.M.E., S.A. in April 2017. The company was founded in 2010 and is headquartered in Madrid, Spain. Aena S.M.E., S.A. is a subsidiary of ENAIRE.

How the Company Makes Money

Aena generates revenue through several key streams, primarily from aeronautical and non-aeronautical activities. Aeronautical revenues are derived from fees charged to airlines for landing and takeoff services, passenger services, and other related airport operations. Non-aeronautical revenues come from retail concessions, duty-free shops, restaurants, and parking services within the airports. Additionally, AENA benefits from real estate operations and commercial leases within airport premises. Strategic partnerships with airlines and other stakeholders in the aviation industry further bolster its revenue, as well as its ongoing investments in infrastructure and technology that enhance operational efficiency and passenger experience.

Aena SA Financial Statement Overview

Summary

Aena SA exhibits strong financial performance with significant revenue growth and high profitability margins. The balance sheet is robust with no debt, and cash flow generation is efficient, supporting operational stability and shareholder returns.

Income Statement

Aena SA demonstrates strong income statement performance with robust revenue growth of 14.3% from 2023 to 2024. The company's net profit margin improved to 33.5% in 2024, reflecting enhanced profitability. Gross profit and EBIT margins are high at 71.7% and 46.2%, respectively, suggesting efficient cost management. However, the industry is competitive, and maintaining these growth rates could be challenging.

Balance Sheet

The balance sheet shows Aena SA has a solid equity base with a debt-to-equity ratio of 0, highlighting financial stability. The equity ratio is 48.7%, indicating a strong capital structure. Return on Equity improved significantly to 23.4%, showcasing effective utilization of shareholder funds. With no debt, financial risk is minimal, though future growth may require leveraging opportunities.

Cash Flow

The cash flow statement indicates healthy cash management, with a free cash flow growth of 120.0% from 2023 to 2024. Operating cash flow to net income ratio is 1.42, showing strong cash generation relative to profits. Free cash flow to net income ratio is 0.99, underscoring cash generation efficiency. Despite these strengths, consistent free cash flow growth will be critical for sustaining operations and dividends.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.66B	5.76B	5.04B	4.18B	2.32B	2.18B
Gross Profit	5.60B	4.13B	4.00B	2.55B	795.19M	679.48M
EBITDA	4.70B	3.64B	3.20B	2.02B	123.77M	679.26M
Net Income	2.66B	1.93B	1.63B	901.50M	-89.58M	-160.75M
Balance Sheet
Total Assets	16.52B	16.98B	17.56B	15.85B	16.33B	15.66B
Cash, Cash Equivalents and Short-Term Investments	950.33M	1.82B	2.40B	1.57B	1.47B	1.22B
Total Debt	0.00	6.99B	7.40B	7.63B	8.72B	8.11B
Total Liabilities	8.60B	8.77B	10.00B	9.21B	10.31B	9.60B
Stockholders Equity	7.97B	8.28B	7.63B	6.72B	6.10B	6.12B
Cash Flow
Free Cash Flow	1.97B	1.92B	873.65M	1.14B	-390.61M	-356.88M
Operating Cash Flow	2.83B	2.75B	2.22B	1.86B	280.47M	146.24M
Investing Cash Flow	-822.09M	-804.35M	-1.42B	-664.16M	-660.91M	-534.70M
Financing Cash Flow	-2.52B	-2.43B	-19.61M	-1.09B	619.81M	1.38B

Aena SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:AENA, the sentiment is Negative. The current price of 21.96 is below the 20-day moving average (MA) of 23.41, below the 50-day MA of 23.54, and below the 200-day MA of 22.74, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 33.72 is Neutral, neither overbought nor oversold. The STOCH value of 20.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:AENA.

Aena SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AENA	80 Outperform	€35.64B	17.27	―	4.44%	9.47%	6.30%
NHH	73 Outperform	―	―	―	―	8.95%	64.16%
MEL	72 Outperform	€1.56B	9.06	23.93%	2.03%	3.31%	44.82%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%