AENA Stock Analysis: Aena | MC
Airports & Air Services | MC, Spain | Market Cap: 40.440m EUR | 12M Return: 16.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 43.3M
EPS Trend: 55.9%
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Aena S.M.E., S.A. is a Spanish airport management company that operates airports in Spain, Brazil, the United Kingdom, Mexico, and Colombia through four reporting segments: Airports, Real Estate Services, Región de Murcia International Airport, and International. Its core business is leasing airport infrastructure-including land, terminals, office buildings, warehouses, hangars, and cargo facilities-to airlines, cargo operators, and ground handling agents, while also generating commercial revenue from duty-free shops, food and beverage outlets, specialty retail, car parks, advertising, baggage wrapping, vending machines, and regulated services such as pharmacies, tobacconists, lottery vendors, currency exchange, VAT refunds, and ATMs. The company additionally provides advisory services to international airports.
Founded in 1991 and headquartered in Madrid, Aena operates as a subsidiary of Entidad Pública Empresarial ENAIRE, the Spanish state-owned air navigation provider. The airport services industry typically combines regulated aeronautical income (such as landing, passenger, and security fees charged to airlines) with unregulated commercial income from retail and property, a dual-revenue structure that exposes operators to both passenger volume cycles and tenant retail performance.
- Spanish passenger traffic recovery lifts aeronautical revenue
- Brazil Mexico Colombia concessions expand international segment
- Commercial and duty-free margins rebound with tourism recovery
| Net Income: 2.16b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -3.78 > 1.0 |
| NWC/Revenue: 33.28% < 20% (prev 10.32%; Δ 22.97% < -1%) |
| CFO/TA 0.14 > 3% & CFO 2.71b > Net Income 2.16b |
| Net Debt (4.64b) to EBITDA (3.76b): 1.23 < 3 |
| Current Ratio: 2.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.50b) vs 12m ago -0.11% < -2% |
| Gross Margin: 74.33% > 18% (prev 69.51%; Δ 4.82% > 0.5%) |
| Asset Turnover: 35.21% > 50% (prev 33.93%; Δ 1.28% > 0%) |
| Interest Coverage Ratio: 11.52 > 6 (EBIT TTM 2.97b / Interest Expense TTM 257.9m) |
| A: 0.11 (Total Current Assets 4.14b - Total Current Liabilities 2.00b) / Total Assets 19.2b |
| B: 0.38 (Retained Earnings 7.20b / Total Assets 19.2b) |
| C: 0.16 (EBIT TTM 2.97b / Avg Total Assets 18.3b) |
| D: 0.99 (Book Value of Equity 9.60b / Total Liabilities 9.65b) |
| Altman-Z'' = 4.09 = AA |
| DSRI: 0.88 (Receivables 746.2m/777.3m, Revenue 6.43b/5.88b) |
| GMI: 0.94 (GM 69.51% / 74.33%) |
| AQI: 1.20 (AQ_t 0.15 / AQ_t-1 0.13) |
| SGI: 1.09 (Revenue 6.43b / 5.88b) |
| TATA: -0.03 (NI 2.16b - CFO 2.71b) / TA 19.2b) |
| Beneish M = -3.00 (Cap -4..+1) = AA |
As of July 15, 2026, the stock is trading at EUR 26.50 with a total of 1,898,579 shares traded. Over the past week, the price has changed by -2.29%, over one month by +0.00%, over three months by +2.44% and over the past year by +16.74%.
Current recommended Stop Loss: 25.70 (which is 3% or 1.5 ATR below the current price).
Aena has no consensus analysts rating.
P/E Trailing = 18.7222
P/E Forward = 17.3913
P/S = 6.2601
P/B = 4.2109
P/EG = 3.0492
Revenue TTM = 6.43b EUR
EBIT TTM = 2.97b EUR
EBITDA TTM = 3.76b EUR
Long Term Debt = 4.83b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 907.0m EUR (from shortTermDebt, last quarter)
Debt = 8.02b EUR (from shortLongTermDebtTotal, last quarter) + Leases 50.4m
Net Debt = 4.64b EUR (calculated: Debt 8.02b - CCE 3.38b)
Enterprise Value = 45.1b EUR (40.4b + Debt 8.02b - CCE 3.38b)
Interest Coverage Ratio = 11.52 (Ebit TTM 2.97b / Interest Expense TTM 257.9m)
EV/FCF = 28.78x (Enterprise Value 45.1b / FCF TTM 1.57b)
FCF Yield = 3.47% (FCF TTM 1.57b / Enterprise Value 45.1b)
FCF Margin = 24.36% (FCF TTM 1.57b / Revenue TTM 6.43b)
Net Margin = 33.67% (Net Income TTM 2.16b / Revenue TTM 6.43b)
Gross Margin = 74.33% ((Revenue TTM 6.43b - Cost of Revenue TTM 1.65b) / Revenue TTM)
Gross Margin QoQ = 70.85% (prev 86.65%)
Tobins Q-Ratio = 2.35 (Enterprise Value 45.1b / Total Assets 19.2b)
Interest Expense / Debt = 3.22% (Interest Expense 257.9m / Debt 8.02b)
Taxrate = 23.85% (691.2m / 2.90b)
NOPAT = 2.26b (EBIT 2.97b * (1 - 23.85%))
Current Ratio = 2.07 (Total Current Assets 4.14b / Total Current Liabilities 2.00b)
Debt / Equity = 0.84 (Debt 8.02b / totalStockholderEquity, last quarter 9.60b)
Debt / EBITDA = 1.23 (Net Debt 4.64b / EBITDA 3.76b)
Debt / FCF = 2.96 (Net Debt 4.64b / FCF TTM 1.57b)
Total Stockholder Equity = 8.86b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.85% (Net Income 2.16b / Total Assets 19.2b)
RoE = 24.42% (Net Income TTM 2.16b / Total Stockholder Equity 8.86b)
RoCE = 21.69% (EBIT 2.97b / Capital Employed (Equity 8.86b + L.T.Debt 4.83b))
RoIC = 12.72% (NOPAT 2.26b / Invested Capital 17.8b)
WACC = 5.87% (E(40.4b)/V(48.5b) * Re(6.55%) + D(8.02b)/V(48.5b) * Rd(3.22%) * (1-Tc(0.24)))
Discount Rate = 6.55% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.95 | Cagr: -0.01%
[DCF] Terminal Value 73.10% ; FCFF base≈1.77b ; Y1≈1.55b ; Y5≈1.25b
[DCF] Fair Price = 10.30 (EV 20.1b - Net Debt 4.64b = Equity 15.5b / Shares 1.50b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 55.94 | EPS CAGR: 41.88% | SUE: 0.02 | # QB: 0
Revenue Correlation: 99.22 | Revenue CAGR: 11.06% | SUE: 1.69 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.40 | Chg30d=N/A | Revisions=+25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.50 | Chg30d=N/A | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.57 | Chg30d=+0.15% | Revisions=+25% | GrowthEPS=+9.3% | GrowthRev=+8.7%
EPS next Year (2027-12-31): EPS=1.61 | Chg30d=+0.37% | Revisions=+25% | GrowthEPS=+2.6% | GrowthRev=+3.6%
[Analyst] Revisions Ratio: +29% (up=3, down=1)