ADP Stock Analysis: Aeroports de Paris | PA
Airports & Air Services | PA, France | Market Cap: 11.653m EUR | 12M Return: 1.4% | FR0010340141 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.7M
Warnings
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Aeroports de Paris SA (ADP) operates and develops airports across France, Turkey, Kazakhstan, Jordan, Georgia, and other international markets. Its business is organized into five segments: Aviation (landing/parking fees, passenger services, baggage handling, de-icing, security, firefighting); Retail and Services (terminal shops, food and beverage, banking, car rentals, advertising, car parks, utilities, tourism, luxury services, and metro station construction); Real Estate (leasing, development, and management of office, logistics, and freight properties); International and Airport Developments (airport design and operations abroad); and Other Activities (telecom and cybersecurity). The company was founded in 1945 and is headquartered in Tremblay-en-France.
The airport services sector typically relies on a dual revenue model combining regulated aeronautical charges (such as landing, parking, and per-passenger fees) with non-aeronautical income from retail, real estate, and advertising concessions, the latter often being the higher-margin component. Major airport operators like ADP usually hold long-term concession or lease agreements with host governments, which can span several decades and define the framework for capital investment and operational control.
- French regulator approves new airport tariff framework boosting aviation revenue
- TAV Turkey operations and international airport portfolio drive segment growth
- Retail and services sales per passenger recovery at CDG and Orly terminals
- Real estate development pipeline expands recurring rental income
| 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 November 11, 2026, the stock is trading at EUR 118.10 with a total of 133,600 shares traded. Over the past week, the price has changed by +3.32%, over one month by +13.67%, over three months by +3.78% and over the past year by +1.43%.
Current recommended Stop Loss: 114.60 (which is 3% or 1.3 ATR below the current price).
Aeroports de Paris has no consensus analysts rating.
P/E Trailing = 19.5357
P/E Forward = 16.8634
P/S = 1.7249
P/B = 2.6228
P/EG = 0.861
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 = 20.2b EUR (11.7b + 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 20.2b / FCF TTM 11.0m)
FCF Yield = 0.05% (FCF TTM 11.0m / Enterprise Value 20.2b)
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 = 0.95 (Enterprise Value 20.2b / 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 = 5.88% (E(11.7b)/V(22.8b) * Re(6.54%) + D(11.2b)/V(22.8b) * Rd(8.31%) * (1-Tc(0.37)))
Discount Rate = 6.54% (= 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=5.80 | Chg30d=-2.91% | Revisions=-50% | GrowthEPS=+16.1% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=6.83 | Chg30d=-3.91% | Revisions=-17% | GrowthEPS=+17.8% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: -44% (up=1, down=5)