(ADP) Aeroports de Paris - Overview
Stock: Aviation, Retail, Real Estate, International, Other
Dividends
| Dividend Yield | 2.64% |
| Yield on Cost 5y | 3.04% |
| Yield CAGR 5y | -2.10% |
| Payout Consistency | 75.4% |
| Payout Ratio | 3.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 23.4% |
| Relative Tail Risk | -2.64% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.26 |
| Alpha | 2.25 |
| Character TTM | |
|---|---|
| Beta | 0.076 |
| Beta Downside | 0.039 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.94% |
| CAGR/Max DD | -0.08 |
Description: ADP Aeroports de Paris January 03, 2026
Aéroports de Paris SA (ADP) operates a portfolio of airports across France, Turkey, Kazakhstan, Jordan, Georgia and other international locations, organized into five business segments: Aviation (core airport services), Retail & Services (terminal concessions and ancillary offerings), Real Estate (leasing and development of office, logistics and freight assets), International & Airport Developments (design and operation of new airports), and Other Activities (telecom and cybersecurity). The Aviation segment generates the bulk of revenue through landing fees, aircraft-handling services and safety operations, while the Retail & Services segment monetizes passenger footfall via shops, restaurants, car rentals and advertising.
Key industry drivers for ADP include the recovery of European passenger traffic (ADP handled ≈ 140 million passengers in 2023, a ~ 30 % increase YoY), the shift toward higher-margin non-aeronautical revenue (concession sales now represent roughly 30 % of total earnings and have grown at ~5 % CAGR), and ongoing capital projects such as the CDG 2 terminal expansion, which is expected to add ≈ 30 % capacity and support long-term traffic growth. The Real Estate arm benefits from stable lease income and the broader demand for logistics space in the Paris region, while the International & Airport Developments segment exposes ADP to growth opportunities in emerging-market airport infrastructure.
For a deeper dive into ADP’s valuation metrics and scenario analysis, see the detailed research on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 859.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 1.06 > 1.0 |
| NWC/Revenue: 3.31% < 20% (prev -2.23%; Δ 5.54% < -1%) |
| CFO/TA 0.16 > 3% & CFO 3.12b > Net Income 859.0m |
| Net Debt (8.85b) to EBITDA (4.54b): 1.95 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (98.7m) vs 12m ago 0.08% < -2% |
| Gross Margin: 55.76% > 18% (prev 0.37%; Δ 5539 % > 0.5%) |
| Asset Turnover: 62.84% > 50% (prev 31.08%; Δ 31.76% > 0%) |
| Interest Coverage Ratio: 1.67 > 6 (EBITDA TTM 4.54b / Interest Expense TTM 1.72b) |
Altman Z'' 1.97
| A: 0.02 (Total Current Assets 3.70b - Total Current Liabilities 3.29b) / Total Assets 20.00b |
| B: 0.18 (Retained Earnings 3.63b / Total Assets 20.00b) |
| C: 0.15 (EBIT TTM 2.88b / Avg Total Assets 19.53b) |
| D: 0.24 (Book Value of Equity 3.55b / Total Liabilities 14.92b) |
| Altman-Z'' Score: 1.97 = BBB |
Beneish M -3.12
| DSRI: 0.45 (Receivables 1.18b/1.28b, Revenue 12.27b/5.92b) |
| GMI: 0.66 (GM 55.76% / 36.53%) |
| AQI: 1.04 (AQ_t 0.36 / AQ_t-1 0.35) |
| SGI: 2.07 (Revenue 12.27b / 5.92b) |
| TATA: -0.11 (NI 859.0m - CFO 3.12b) / TA 20.00b) |
| Beneish M-Score: -3.12 (Cap -4..+1) = AA |
What is the price of ADP shares?
Over the past week, the price has changed by +5.43%, over one month by -1.02%, over three months by -2.59% and over the past year by +5.62%.
Is ADP a buy, sell or hold?
What are the forecasts/targets for the ADP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 122.1 | 4.8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 120 | 3% |
ADP Fundamental Data Overview February 03, 2026
P/E Trailing = 121.4286
P/E Forward = 12.6904
P/S = 1.6993
P/B = 2.6949
P/EG = 0.1608
Revenue TTM = 12.27b EUR
EBIT TTM = 2.88b EUR
EBITDA TTM = 4.54b EUR
Long Term Debt = 9.25b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.03b EUR (from shortTermDebt, last quarter)
Debt = 10.59b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.85b EUR (from netDebt column, last quarter)
Enterprise Value = 21.05b EUR (10.93b + Debt 10.59b - CCE 474.0m)
Interest Coverage Ratio = 1.67 (Ebit TTM 2.88b / Interest Expense TTM 1.72b)
EV/FCF = 20.72x (Enterprise Value 21.05b / FCF TTM 1.02b)
FCF Yield = 4.83% (FCF TTM 1.02b / Enterprise Value 21.05b)
FCF Margin = 8.28% (FCF TTM 1.02b / Revenue TTM 12.27b)
Net Margin = 7.00% (Net Income TTM 859.0m / Revenue TTM 12.27b)
Gross Margin = 55.76% ((Revenue TTM 12.27b - Cost of Revenue TTM 5.43b) / Revenue TTM)
Gross Margin QoQ = 60.70% (prev 67.96%)
Tobins Q-Ratio = 1.05 (Enterprise Value 21.05b / Total Assets 20.00b)
Interest Expense / Debt = 1.64% (Interest Expense 174.0m / Debt 10.59b)
Taxrate = 38.72% (326.0m / 842.0m)
NOPAT = 1.77b (EBIT 2.88b * (1 - 38.72%))
Current Ratio = 1.12 (Total Current Assets 3.70b / Total Current Liabilities 3.29b)
Debt / Equity = 2.60 (Debt 10.59b / totalStockholderEquity, last quarter 4.07b)
Debt / EBITDA = 1.95 (Net Debt 8.85b / EBITDA 4.54b)
Debt / FCF = 8.71 (Net Debt 8.85b / FCF TTM 1.02b)
Total Stockholder Equity = 4.30b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.40% (Net Income 859.0m / Total Assets 20.00b)
RoE = 19.96% (Net Income TTM 859.0m / Total Stockholder Equity 4.30b)
RoCE = 21.27% (EBIT 2.88b / Capital Employed (Equity 4.30b + L.T.Debt 9.25b))
RoIC = 15.13% (NOPAT 1.77b / Invested Capital 11.67b)
WACC = 3.64% (E(10.93b)/V(21.53b) * Re(6.20%) + D(10.59b)/V(21.53b) * Rd(1.64%) * (1-Tc(0.39)))
Discount Rate = 6.20% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 0.05%
[DCF Debug] Terminal Value 88.43% ; FCFF base≈916.2m ; Y1≈1.13b ; Y5≈1.92b
Fair Price DCF = 477.0 (EV 56.05b - Net Debt 8.85b = Equity 47.20b / Shares 98.9m; r=5.90% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 6.13 | EPS CAGR: 73.62% | SUE: 0.0 | # QB: 0
Revenue Correlation: 76.86 | Revenue CAGR: 48.34% | SUE: 1.20 | # QB: 1
EPS next Year (2026-12-31): EPS=6.59 | Chg30d=+0.096 | Revisions Net=-2 | Growth EPS=+29.3% | Growth Revenue=+4.3%