ADP Stock Analysis: Aeroports de Paris | PA
Airports & Air Services | PA, France | Market Cap: 10.605m EUR | 12M Return: 0.5% | FR0010340141 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.3M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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.
Aeroports de Paris SA (ADP) is a French airport operator and developer headquartered in Tremblay-en-France, incorporated in 1945. The company runs airport activities across France, Turkey, Kazakhstan, Jordan, Georgia, and other international markets, operating through five segments: Aviation; Retail and Services; Real Estate; International and Airport Developments; and Other Activities.
The Aviation segment provides core airport services such as landing and parking fees, passenger services, baggage handling, de-icing, and security and firefighting. The Retail and Services segment generates non-aeronautical revenue from terminal shops, restaurants, car rentals, advertising, car parks, utilities (heating, water, cooling networks), and related services. The Real Estate segment handles property leasing and the development of office, logistics, and freight buildings on airport land, while the International and Airport Developments segment designs and operates airport projects abroad. A smaller Other Activities segment provides telecom and cybersecurity services.
As a regulated utility-like operator of major airport infrastructure, ADP benefits from a diversified revenue model that combines regulated aeronautical charges with unregulated commercial (non-aero) income from retail, real estate, and services, which is a common structural feature of listed airport operators globally and helps offset the cyclicality of passenger traffic.
- Paris airport passenger traffic recovery drives aviation fee revenue
- French regulator sets aeronautical tariffs constraining pricing power
- International airport operations in Turkey and Kazakhstan diversify segment exposure
| Net Income: 596.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -2.73 > 1.0 |
| NWC/Revenue: 2.68% < 20% (prev 6.31%; Δ -3.63% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.37b > Net Income 596.0m |
| Net Debt (8.52b) to EBITDA (1.91b): 4.45 < 3 |
| Current Ratio: 1.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (99.0m) vs 12m ago 0.40% < -2% |
| Gross Margin: 49.48% > 18% (prev 64.39%; Δ -14.91% > 0.5%) |
| Asset Turnover: 32.73% > 50% (prev 32.17%; Δ 0.57% > 0%) |
| Interest Coverage Ratio: 0.96 > 6 (EBIT TTM 893.0m / Interest Expense TTM 928.0m) |
| A: 0.01 (Total Current Assets 4.54b - Total Current Liabilities 4.35b) / Total Assets 21.3b |
| B: 0.18 (Retained Earnings 3.81b / Total Assets 21.3b) |
| C: 0.04 (EBIT TTM 893.0m / Avg Total Assets 20.6b) |
| D: 0.27 (Book Value of Equity 4.31b / Total Liabilities 16.0b) |
| Altman-Z'' = 1.21 = BB |
| DSRI: 0.98 (Receivables 1.21b/1.18b, Revenue 6.76b/6.43b) |
| GMI: 1.30 (GM 64.39% / 49.48%) |
| AQI: 0.93 (AQ_t 0.34 / AQ_t-1 0.36) |
| SGI: 1.05 (Revenue 6.76b / 6.43b) |
| TATA: -0.04 (NI 596.0m - CFO 1.37b) / TA 21.3b) |
| Beneish M = -2.78 (Cap -4..+1) = A |
As of September 22, 2026, the stock is trading at EUR 107.20 with a total of 106,022 shares traded. Over the past week, the price has changed by -1.56%, over one month by -2.10%, over three months by -3.60% and over the past year by +0.47%.
Current recommended Stop Loss: 104.10 (which is 2.9% or 1.3 ATR below the current price).
Aeroports de Paris has no consensus analysts rating.
P/E Trailing = 17.7778
P/E Forward = 16.0256
P/S = 1.5697
P/B = 2.492
P/EG = 0.7969
Revenue TTM = 6.76b EUR
EBIT TTM = 893.0m EUR
EBITDA TTM = 1.91b EUR
Long Term Debt = 9.33b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.31b EUR (from shortTermDebt, last quarter)
Debt = 11.2b EUR (from shortLongTermDebtTotal, last quarter) + Leases 278.0m
Net Debt = 8.52b EUR (calculated: Debt 11.2b - CCE 2.65b)
Enterprise Value = 19.1b EUR (10.6b + Debt 11.2b - CCE 2.65b)
Interest Coverage Ratio = 0.96 (Ebit TTM 893.0m / Interest Expense TTM 928.0m)
EV/FCF = 1000.0x (Enterprise Value 19.1b / FCF TTM 11.0m)
FCF Yield = 0.06% (FCF TTM 11.0m / Enterprise Value 19.1b)
FCF Margin = 0.16% (FCF TTM 11.0m / Revenue TTM 6.76b)
Net Margin = 8.82% (Net Income TTM 596.0m / Revenue TTM 6.76b)
Gross Margin = 49.48% ((Revenue TTM 6.76b - Cost of Revenue TTM 3.41b) / Revenue TTM)
Gross Margin QoQ = 47.62% (prev 51.17%)
Tobins Q-Ratio = 0.90 (Enterprise Value 19.1b / Total Assets 21.3b)
Interest Expense / Debt = 8.31% (Interest Expense 928.0m / Debt 11.2b)
Taxrate = 37.46% (399.0m / 1.06b)
NOPAT = 558.4m (EBIT 893.0m * (1 - 37.46%))
Current Ratio = 1.04 (Total Current Assets 4.54b / Total Current Liabilities 4.35b)
Debt / Equity = 2.59 (Debt 11.2b / totalStockholderEquity, last quarter 4.31b)
Debt / EBITDA = 4.45 (Net Debt 8.52b / EBITDA 1.91b)
Debt / FCF = 774.4 (Net Debt 8.52b / FCF TTM 11.0m)
Total Stockholder Equity = 4.29b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.89% (Net Income 596.0m / Total Assets 21.3b)
RoE = 13.91% (Net Income TTM 596.0m / Total Stockholder Equity 4.29b)
RoCE = 6.56% (EBIT 893.0m / Capital Employed (Equity 4.29b + L.T.Debt 9.33b))
RoIC = 3.12% (NOPAT 558.4m / Invested Capital 17.9b)
WACC = 6.09% (E(10.6b)/V(21.8b) * Re(7.02%) + D(11.2b)/V(21.8b) * Rd(8.31%) * (1-Tc(0.37)))
Discount Rate = 7.02% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 6.65 | Cagr: 0.05%
[DCF] Terminal Value 73.10% ; FCFF base≈229.4m ; Y1≈201.2m ; Y5≈162.5m
[DCF] Fair Price = N/A (negative equity: EV 2.61b - Net Debt 8.52b = -5.91b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 98.06 | Revenue CAGR: 8.90% | SUE: 1.34 | # QB: 1
EPS current Quarter (2026-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=6.07 | Chg30d=+5.94% | Revisions=+29% | GrowthEPS=+21.6% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=7.21 | Chg30d=+0.19% | Revisions=+29% | GrowthEPS=+18.8% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: +36% (up=6, down=2)