Aeroports de Paris (ARRPY)
OTHER OTC:ARRPY
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Aeroports de Paris
(OTC:ARRPY)
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Rating:62Neutral
Price Target:
$12.50
▼(-8.96% Downside)
Action:DowngradedDate:02/20/26
The score is primarily driven by solid operating performance and supportive technical momentum, offset by balance-sheet leverage and weaker recent free cash flow. Valuation is relatively expensive on earnings, and earnings-call items point to meaningful 2026 headwinds (tariff freeze, wage step-up, and operational constraints) despite positive EBITDA guidance.
Positive Factors
Sustained revenue and EBITDA growth
Consistent 2025 revenue growth (≈+9%) and EBITDA outperformance show structural demand recovery and better commercial monetization. Durable passenger and service expansion supports earnings resilience, improves debt servicing and funds reinvestment across a capital-intensive network.
Negative Factors
Elevated leverage and debt load
Material leverage and net debt constrain financial flexibility for a capital‑intensive operator. Interest and refinancing exposure reduce room for discretionary investment or cushioning during downturns, making returns sensitive to higher rates and cyclical traffic shifts over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue and EBITDA growth
Consistent 2025 revenue growth (≈+9%) and EBITDA outperformance show structural demand recovery and better commercial monetization. Durable passenger and service expansion supports earnings resilience, improves debt servicing and funds reinvestment across a capital-intensive network.
Read all positive factors
Aeroports de Paris (ARRPY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.58B
Dividend Yield2.66%
Average Volume (3M)0.00
Price to Earnings (P/E)31.7
Beta (1Y)0.69
Revenue Growth10.84%
EPS Growth-87.89%
CountryUS
Employees29,330
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.34
Shares Outstanding989,610,000
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio3.92
Price to Book (P/B)2.67
Price to Sales (P/S)1.80
P/FCF Ratio47.03
Enterprise Value/Market Cap1.49
Enterprise Value/Revenue3.04
Enterprise Value/Gross Profit5.46
Enterprise Value/Ebitda11.04
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aeroports de Paris Business Overview & Revenue Model
Company Description
Aeroports de Paris SA owns and operates airports worldwide. The company operates through Aviation, Retail and Services, Real Estate, International and Airport Developments, and Other Activities segments. The Aviation segment offers security and ai...
How the Company Makes Money
ADP generates revenue primarily by operating airports and monetizing passenger and airline traffic through a mix of regulated and commercial activities. Key revenue streams typically include: (1) Aviation charges: fees paid by airlines and aircraf...
Aeroports de Paris Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presents a solid operational and financial year: revenue and EBITDA grew strongly, net income improved, deleveraging progressed, key infrastructure and international projects were delivered, and employee alignment measures were successfully implemented. However, material near-term headwinds remain — notably regulatory friction (rejected tariff proposals and cost allocation disputes), FX and exceptional tax impacts, retail slowdown vs 2024, and a one-off wage step-up that increases 2026 OpEx. Management highlights support from airlines and the State and positions the multiyear Economic Regulation Agreement process as the appropriate path to resolve structural issues.Positive Updates
Revenue Growth
Group revenue reached EUR 6.7 billion in 2025, up nearly 9% year-over-year, driven by strong traffic and development of service businesses including scope effects from P/S and Paris Experience Group acquisitions.
Negative Updates
Regulatory Dispute and 2026 Tariff Freeze
Both initial (1.5%) and subsequent flat-tariff proposals for 2026 were rejected by the regulator; as a result, airport charges remain at 2025 levels from April 1, 2026, creating short-term revenue headwinds and regulatory uncertainty.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth
Group revenue reached EUR 6.7 billion in 2025, up nearly 9% year-over-year, driven by strong traffic and development of service businesses including scope effects from P/S and Paris Experience Group acquisitions.
Read all positive updates
Company Guidance
The company guided to 2026 EBITDA “above EUR 2.35 billion,” supported mainly by international assets (TAV) while assuming flat regulated tariffs (0% average, 2025 levels effective Apr 1, 2026), Paris traffic growth of 1.5–2.5% (mostly international), group CapEx around EUR 1.45 billion (≈EUR 1.0 billion at ADP SA), and a one‑off larger staff‑cost step in 2026 (wage increase roughly twice the normal annual run rate) as part of the compensation reform; other numeric anchors disclosed include 2025 Extime spend EUR 31.7 (2026 assumption >EUR 32), TAV’s 2026 EBITDA guidance EUR 590–650 million, end‑2025 net debt of EUR 8.6 billion with net debt/EBITDA at 3.7x (target range 3.5–4x), regulated ROCE 4.3% in 2025 (up 0.3 ppt), a dividend policy of 60% payout with a EUR 3 floor per share, and an ERA negotiation timetable with the regulator’s non‑binding opinion expected by April 11 and binding ART approval aimed for Q4 2026 to come into force Jan 1, 2027.Aeroports de Paris Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
52
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.44B | 6.16B | 5.50B | 4.69B | 2.78B |
| Gross Profit | 3.22B | 3.08B | 2.40B | 1.69B | 520.00M |
| EBITDA | 2.23B | 1.87B | 2.09B | 1.83B | 701.00M |
| Net Income | 365.96M | 342.00M | 631.00M | 516.00M | -248.00M |
Balance Sheet | |||||
| Total Assets | 20.26B | 20.18B | 19.66B | 18.84B | 18.36B |
| Cash, Cash Equivalents and Short-Term Investments | 1.87B | 2.10B | 2.44B | 2.82B | 2.49B |
| Total Debt | 10.58B | 10.14B | 9.82B | 9.99B | 10.34B |
| Total Liabilities | 14.72B | 14.67B | 14.36B | 13.93B | 14.13B |
| Stockholders Equity | 4.34B | 4.42B | 4.36B | 4.03B | 3.52B |
Cash Flow | |||||
| Free Cash Flow | 246.86M | 435.00M | 578.00M | 645.00M | 24.00M |
| Operating Cash Flow | 1.46B | 1.52B | 1.59B | 1.34B | 551.00M |
| Investing Cash Flow | -1.06B | -1.46B | -1.15B | -726.00M | -1.09B |
| Financing Cash Flow | -438.00M | -458.00M | -721.00M | -367.00M | -536.00M |
Aeroports de Paris Technical Analysis
Positive
13.73
Price Trends
12.99
Positive
13.38
Positive
13.31
Positive
Market Momentum
0.12
Negative
67.52
Neutral
98.15
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARRPY, the sentiment is Positive. The current price of 13.73 is above the 20-day moving average (MA) of 12.30, above the 50-day MA of 12.99, and above the 200-day MA of 13.31, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 67.52 is Neutral, neither overbought nor oversold. The STOCH value of 98.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ARRPY.
Aeroports de Paris Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.62B | 19.42 | 52.26% | 4.03% | -2.04% | -3.82% | |
69 Neutral | $10.69B | 16.66 | 30.03% | 11.85% | 8.70% | -21.15% | |
69 Neutral | $4.42B | 17.03 | 17.03% | ― | 14.87% | -47.71% | |
65 Neutral | $12.65B | 23.99 | 44.97% | 4.46% | 11.58% | 1.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $13.58B | 31.73 | 9.06% | 2.66% | 10.84% | -87.89% | |
50 Neutral | $8.11B | ― | -91.52% | ― | 1934.50% | -92.33% |
* Industrials Sector Average
ARRPY
Aeroports de Paris
13.72
3.06
28.75%
OMAB
Grupo Aeroportuario Del Centro
117.05
41.94
55.84%
PAC
Grupo Aeroportuario del Pacifico
251.24
75.84
43.24%
ASR
Grupo Aeroportuario del Sureste
355.95
119.13
50.31%
CAAP
Corporacion America Airports SA
27.08
10.34
61.77%
JOBY
Joby Aviation
8.28
2.26
37.54%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.