Financials Corporación América Airports S.A.

Equities

CAAP

LU1756447840

Airport Services

Real-time Estimate Cboe BZX 07:19:43 03/05/2024 pm IST 5-day change 1st Jan Change
17.42 USD +1.60% Intraday chart for Corporación América Airports S.A. +3.51% +8.28%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 960.1 651.3 926.7 1,403 2,584 2,761 - -
Enterprise Value (EV) 1 1,898 1,655 1,991 1,403 2,584 3,687 3,501 2,913
P/E ratio 100 x -2.53 x -7.9 x 8.31 x 10.8 x 11.1 x 7.28 x 5.02 x
Yield - - - - - 2.9% 3.39% 4.66%
Capitalization / Revenue 0.62 x 1.07 x 1.31 x 1.02 x 1.85 x 1.63 x 1.51 x 1.39 x
EV / Revenue 1.22 x 2.72 x 2.82 x 1.02 x 1.85 x 2.17 x 1.92 x 1.47 x
EV / EBITDA 4.99 x 122 x 13.3 x 3.07 x 3.81 x 5.67 x 4.53 x 3.32 x
EV / FCF -51.5 x -204 x - - - 10.1 x 7.66 x 6.03 x
FCF Yield -1.94% -0.49% - - - 9.93% 13.1% 16.6%
Price to Book 1.26 x 1.3 x - - - 2.53 x 2.27 x -
Nbr of stocks (in thousands) 1,60,022 1,63,223 1,60,612 1,60,764 1,60,911 1,60,972 - -
Reference price 2 6.000 3.990 5.770 8.730 16.06 17.15 17.15 17.15
Announcement Date 07/04/20 30/03/21 23/03/22 22/03/23 20/03/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,559 607.4 706.9 1,379 1,400 1,696 1,825 1,982
EBITDA 1 380.7 13.6 149.3 456.7 677.7 650.2 773.3 877.2
EBIT 1 223.6 -163.7 6.5 304.6 540.6 508.7 621.8 724.6
Operating Margin 14.35% -26.95% 0.92% 22.09% 38.61% 30% 34.07% 36.56%
Earnings before Tax (EBT) 1 11.26 -376.2 -90.67 - 218.4 311.9 459.8 615.1
Net income 1 9.1 -253.1 -117.8 168.2 239.5 228.6 340.1 461.2
Net margin 0.58% -41.67% -16.66% 12.2% 17.11% 13.48% 18.64% 23.27%
EPS 2 0.0600 -1.580 -0.7300 1.050 1.490 1.545 2.356 3.415
Free Cash Flow 1 -36.83 -8.113 - - - 366 457 483
FCF margin -2.36% -1.34% - - - 21.59% 25.04% 24.37%
FCF Conversion (EBITDA) - - - - - 56.29% 59.1% 55.06%
FCF Conversion (Net income) - - - - - 160.08% 134.37% 104.72%
Dividend per Share 2 - - - - - 0.4979 0.5812 0.7994
Announcement Date 07/04/20 30/03/21 23/03/22 22/03/23 20/03/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 186.9 218.7 - - - - - - 469.5 365 354 - - -
EBITDA 1 - - - - - - - - 172.7 303.4 157.2 163.6 184 167.2
EBIT 1 2.8 60.4 51.8 72.1 92.5 86.4 102 110.4 131.7 263.6 131.6 127.3 152.1 131.6
Operating Margin 1.5% 27.62% - - - - - - 28.05% 72.22% 37.18% - - -
Earnings before Tax (EBT) 1 - - - - - - - - - -10.16 79.91 75.96 95.15 77.85
Net income 1 - - - - - - - - 46.5 130.7 42.36 46.96 60.4 48.28
Net margin - - - - - - - - 9.9% 35.81% 11.97% - - -
EPS 2 -0.0900 -0.1400 - 0.4300 0.3600 0.0800 0.2000 0.4300 0.2900 0.8100 0.4104 0.3867 0.4987 0.4059
Dividend per Share 2 - - - - - - - - - - - 0.3437 - -
Announcement Date 17/11/21 23/03/22 18/05/22 18/08/22 17/11/22 22/03/23 23/05/23 17/08/23 15/11/23 20/03/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 938 1,004 1,064 - - 926 741 152
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.463 x 73.79 x 7.125 x - - 1.424 x 0.9576 x 0.1733 x
Free Cash Flow 1 -36.8 -8.11 - - - 366 457 483
ROE (net income / shareholders' equity) - - -24.6% - - 22.4% 33.1% 39.3%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 4.770 3.060 - - - 6.770 7.550 -
Cash Flow per Share - - - - - - - -
Capex 1 17.1 8.95 - - - 361 411 432
Capex / Sales 1.1% 1.47% - - - 21.29% 22.52% 21.8%
Announcement Date 07/04/20 30/03/21 23/03/22 22/03/23 20/03/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
17.15 USD
Average target price
19.9 USD
Spread / Average Target
+16.03%
Consensus
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