(CAAP) Corporacion America Airports - Overview
Stock: Airport Operations, Concession Management, Terminal Services, Ground Handling
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 36.8% |
| Relative Tail Risk | -10.1% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.05 |
| Alpha | 37.12 |
| Character TTM | |
|---|---|
| Beta | 0.874 |
| Beta Downside | 0.708 |
| Drawdowns 3y | |
|---|---|
| Max DD | 26.63% |
| CAGR/Max DD | 1.73 |
Description: CAAP Corporacion America Airports January 11, 2026
Corporación América Airports S.A. (NYSE: CAAP) is a Luxembourg-registered holding that acquires, develops, and operates airport concessions through its subsidiaries. It currently manages a portfolio of 52 airports spanning Latin America, Europe, and Eurasia, and is a direct subsidiary of A.C.I. Airports S.à r.l., having rebranded from A.C.I. Airports International S.à r.l. in September 2017.
Key operating metrics from the most recent FY2023 filing indicate roughly 130 million passengers transited its airports, generating about $1.2 billion in revenue and an adjusted EBITDA margin near 35 %. These figures place CAAP among the higher-margin players in the GICS Airport Services sub-industry, where average EBITDA margins hover around 25 %.
Two macro drivers are especially material to CAAP’s outlook: (1) the rebound in international travel post-COVID, which the International Air Transport Association projects to yield a 3.5 % CAGR in passenger traffic across Latin America through 2028; and (2) the trend toward “airport-city” development, where ancillary non-aeronautical revenues (retail, parking, real-estate) now account for roughly 45 % of total airport earnings industry-wide, offering upside beyond traditional aeronautical fees.
Given the concentration of its assets in emerging markets, CAAP’s performance is sensitive to local currency volatility and sovereign credit risk, factors that should be stress-tested when modeling cash-flow forecasts.
For a deeper quantitative dive into CAAP’s valuation assumptions, the ValueRay platform provides a useful data set and analytical toolkit.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 182.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -0.93 > 1.0 |
| NWC/Revenue: 16.67% < 20% (prev 11.30%; Δ 5.38% < -1%) |
| CFO/TA 0.09 > 3% & CFO 370.0m > Net Income 182.9m |
| Net Debt (589.9m) to EBITDA (610.6m): 0.97 < 3 |
| Current Ratio: 1.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (161.9m) vs 12m ago -0.70% < -2% |
| Gross Margin: 34.63% > 18% (prev 0.33%; Δ 3430 % > 0.5%) |
| Asset Turnover: 44.72% > 50% (prev 38.84%; Δ 5.88% > 0%) |
| Interest Coverage Ratio: 3.81 > 6 (EBITDA TTM 610.6m / Interest Expense TTM 102.3m) |
Altman Z'' 2.21
| A: 0.07 (Total Current Assets 922.7m - Total Current Liabilities 601.7m) / Total Assets 4.29b |
| B: 0.20 (Retained Earnings 856.3m / Total Assets 4.29b) |
| C: 0.09 (EBIT TTM 389.7m / Avg Total Assets 4.31b) |
| D: 0.44 (Book Value of Equity 1.23b / Total Liabilities 2.79b) |
| Altman-Z'' Score: 2.21 = BBB |
Beneish M -2.75
| DSRI: 1.33 (Receivables 246.7m/161.3m, Revenue 1.93b/1.68b) |
| GMI: 0.95 (GM 34.63% / 32.87%) |
| AQI: 0.98 (AQ_t 0.76 / AQ_t-1 0.78) |
| SGI: 1.15 (Revenue 1.93b / 1.68b) |
| TATA: -0.04 (NI 182.9m - CFO 370.0m) / TA 4.29b) |
| Beneish M-Score: -2.75 (Cap -4..+1) = A |
What is the price of CAAP shares?
Over the past week, the price has changed by -2.00%, over one month by +6.25%, over three months by +31.36% and over the past year by +47.30%.
Is CAAP a buy, sell or hold?
- StrongBuy: 3
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CAAP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30 | 3.6% |
| Analysts Target Price | 30 | 3.6% |
| ValueRay Target Price | 41.1 | 42.1% |
CAAP Fundamental Data Overview February 04, 2026
P/E Forward = 4.8876
P/S = 2.5683
P/B = 3.4245
Revenue TTM = 1.93b USD
EBIT TTM = 389.7m USD
EBITDA TTM = 610.6m USD
Long Term Debt = 1.02b USD (from longTermDebt, last quarter)
Short Term Debt = 106.0m USD (from shortTermDebt, last quarter)
Debt = 1.13b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 589.9m USD (from netDebt column, last quarter)
Enterprise Value = 5.28b USD (4.81b + Debt 1.13b - CCE 661.0m)
Interest Coverage Ratio = 3.81 (Ebit TTM 389.7m / Interest Expense TTM 102.3m)
EV/FCF = 14.94x (Enterprise Value 5.28b / FCF TTM 353.5m)
FCF Yield = 6.70% (FCF TTM 353.5m / Enterprise Value 5.28b)
FCF Margin = 18.36% (FCF TTM 353.5m / Revenue TTM 1.93b)
Net Margin = 9.50% (Net Income TTM 182.9m / Revenue TTM 1.93b)
Gross Margin = 34.63% ((Revenue TTM 1.93b - Cost of Revenue TTM 1.26b) / Revenue TTM)
Gross Margin QoQ = 37.40% (prev 34.80%)
Tobins Q-Ratio = 1.23 (Enterprise Value 5.28b / Total Assets 4.29b)
Interest Expense / Debt = 2.05% (Interest Expense 23.2m / Debt 1.13b)
Taxrate = 25.62% (20.2m / 79.0m)
NOPAT = 289.8m (EBIT 389.7m * (1 - 25.62%))
Current Ratio = 1.53 (Total Current Assets 922.7m / Total Current Liabilities 601.7m)
Debt / Equity = 0.78 (Debt 1.13b / totalStockholderEquity, last quarter 1.45b)
Debt / EBITDA = 0.97 (Net Debt 589.9m / EBITDA 610.6m)
Debt / FCF = 1.67 (Net Debt 589.9m / FCF TTM 353.5m)
Total Stockholder Equity = 1.43b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.25% (Net Income 182.9m / Total Assets 4.29b)
RoE = 12.78% (Net Income TTM 182.9m / Total Stockholder Equity 1.43b)
RoCE = 15.91% (EBIT 389.7m / Capital Employed (Equity 1.43b + L.T.Debt 1.02b))
RoIC = 11.28% (NOPAT 289.8m / Invested Capital 2.57b)
WACC = 7.69% (E(4.81b)/V(5.94b) * Re(9.14%) + D(1.13b)/V(5.94b) * Rd(2.05%) * (1-Tc(0.26)))
Discount Rate = 9.14% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.29%
[DCF Debug] Terminal Value 82.23% ; FCFF base≈370.2m ; Y1≈455.4m ; Y5≈770.3m
Fair Price DCF = 81.54 (EV 13.89b - Net Debt 589.9m = Equity 13.30b / Shares 163.1m; r=7.69% [WACC]; 5y FCF grow 24.61% → 2.90% )
EPS Correlation: -9.82 | EPS CAGR: -40.31% | SUE: -1.08 | # QB: 0
Revenue Correlation: 85.04 | Revenue CAGR: 22.47% | SUE: 0.36 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.67 | Chg30d=+0.080 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=2.36 | Chg30d=+0.323 | Revisions Net=+2 | Growth EPS=+36.4% | Growth Revenue=+10.5%