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Grupo Aeroportuario Del Sureste (ASR)
:ASR
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Grupo Aeroportuario del Sureste
(NYSE:ASR)
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Rating:79Outperform
Price Target:
$374.00
▲(10.75% Upside)
ASR's strong financial performance and attractive valuation are key strengths, supported by positive technical indicators. However, challenges in Mexico and potential overbought technical conditions temper the overall outlook.
Grupo Aeroportuario del Sureste (ASR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.06B
Dividend Yield7.16%
Average Volume (3M)91.24K
Price to Earnings (P/E)16.0
Beta (1Y)0.90
Revenue Growth5.67%
EPS Growth-9.58%
CountryUS
Employees1,936
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)3.80
Shares Outstanding27,705,000
10 Day Avg. Volume102,251
30 Day Avg. Volume91,240
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue0.30
Enterprise Value/Gross Profit0.41
Enterprise Value/Ebitda0.43
Forecast
1Y Price Target
$374.00Price Target Upside10.75% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering1
Grupo Aeroportuario del Sureste Business Overview & Revenue Model
Company DescriptionGrupo Aeroportuario del Sureste (ASR) is a leading airport management company based in Mexico, responsible for the operation and development of several key airports in the southeastern region of the country, including those in Cancun, Cozumel, Merida, and other locations. The company focuses on enhancing passenger experience and airport efficiency while providing essential services such as terminal operations, maintenance, and commercial activities. ASR is committed to sustainable practices and aims to improve connectivity and economic development in the regions it serves.
How the Company Makes MoneyGrupo Aeroportuario del Sureste generates revenue primarily through aeronautical and non-aeronautical services. Aeronautical revenues come from landing fees, passenger boarding charges, and other fees paid by airlines for using airport facilities. Non-aeronautical revenues are derived from leasing retail and food and beverage spaces within the airports, advertising, and various commercial services offered to travelers. The company also engages in partnerships with airlines and other stakeholders to enhance service offerings and increase passenger traffic. Factors contributing to its earnings include the growth in air travel demand, tourism trends in the region, and investments in infrastructure improvements that enhance operational efficiency.
Grupo Aeroportuario del Sureste Earnings Call Summary
Earnings Call Date:Jul 22, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 27, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a mixed performance with significant growth in Puerto Rico and Colombia, but challenges in Mexico, including flat passenger traffic and foreign exchange losses. The positive financial position and strategic growth in commercial revenues offered optimism, though offset by international traffic declines and cost pressures.Q2-2025 Updates
Positive Updates
Total Revenue Increase
Total revenues increased by 5% year-on-year to MXN 7.4 billion, reflecting growth across operations, particularly in Puerto Rico and Colombia.
Passenger Traffic Growth in Puerto Rico and Colombia
Puerto Rico posted a 3% growth in passenger traffic, while Colombia saw a 1% rise in traffic, with international travel up 12%.
Strong Commercial Revenue Growth
Commercial revenue per passenger increased by mid-single digits year-on-year, with Colombia leading at 22% and Puerto Rico at 12%.
Double-Digit EBITDA Growth in Puerto Rico and Colombia
Puerto Rico and Colombia posted double-digit EBITDA growth of 20% and 15%, respectively.
High Cash Position
The company maintained a strong cash position, closing the quarter with nearly MXN 20 billion in cash and cash equivalents, up 32% year-on-year.
Negative Updates
Flat Passenger Traffic Overall
Overall passenger traffic remained largely flat year-on-year, with declines in Mexico offsetting growth in other regions.
Decline in Mexico's International Passenger Traffic
Mexico reported a decline of nearly 2% in total traffic, with a 4.5% decrease in international travel.
Foreign Exchange Loss
The bottom line was negatively impacted by a foreign exchange loss of MXN 1,200 million due to the appreciation of the Mexican peso against the U.S. dollar.
Margin Contraction in Mexico
Mexico saw a 1.6% decrease in EBITDA and a 170 basis point decline in adjusted EBITDA margin.
Impact of Tulum Airport on Cancun
The new airport in Tulum drew passenger growth away from Cancun, contributing to declines in international traffic.
Company Guidance
During the second quarter of 2025, ASUR experienced a 5% year-on-year increase in total revenues, reaching MXN 7.4 billion. Puerto Rico and Colombia contributed significantly to this growth, with passenger traffic increasing by 3% and 1%, respectively. However, Mexico faced a nearly 2% decline in total traffic, influenced by a 4.5% decrease in international travel. This decline was partly attributed to the new airport in Tulum, which has drawn away some passengers from Cancun. Despite these challenges, ASUR's commercial revenue per passenger grew by mid-single digits, reaching nearly MXN 140. Consolidated EBITDA rose slightly by 2% year-over-year, with Puerto Rico and Colombia posting double-digit EBITDA growth of 20% and 15%, respectively, while Mexico saw a 1.6% decrease. The company maintained a strong cash position, closing the quarter with nearly MXN 20 billion, and announced plans to pay extraordinary dividends in September and November. Looking ahead, ASUR expects traffic in Mexico to stabilize as Tulum's operations normalize and engine-related issues are resolved.Grupo Aeroportuario del Sureste Financial Statement Overview
Summary
Grupo Aeroportuario del Sureste shows strong revenue growth and profitability metrics, with a robust balance sheet and solid cash flow generation. However, there are challenges in maintaining net income margins and sustaining free cash flow growth.Income Statement
The company has demonstrated strong revenue growth over the past years, with a notable increase from 2023 to TTM (Trailing-Twelve-Months). The gross profit margin is robust at approximately 72.5% TTM, reflecting efficient cost management. However, the net profit margin has decreased slightly in TTM due to reduced net income, which indicates some challenges in maintaining net profitability.85
Very Positive
Balance Sheet
The company maintains a healthy debt-to-equity ratio of approximately 0.29 in TTM, indicating a conservative leverage position. Return on equity is strong at approximately 35.6% TTM, showing effective utilization of equity capital. The equity ratio remains stable, reflecting a solid foundation of stockholders' equity relative to total assets.78
Positive
Cash Flow
The operating cash flow to net income ratio is healthy at 1.14 in TTM, indicating strong cash generation relative to income. The free cash flow is positive, although it decreased from the previous year, suggesting a need for careful management of capital expenditures to sustain cash flow growth.82
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.01B | 31.33B | 25.82B | 25.31B | 18.78B | 12.62B |
| Gross Profit | 24.64B | 20.16B | 15.56B | 18.77B | 12.26B | 6.00B |
| EBITDA | 23.13B | 23.52B | 17.31B | 17.00B | 10.64B | 5.05B |
| Net Income | 12.46B | 13.55B | 10.20B | 9.99B | 5.98B | 1.97B |
Balance Sheet | ||||||
| Total Assets | 80.50B | 84.11B | 70.34B | 70.92B | 65.83B | 60.41B |
| Cash, Cash Equivalents and Short-Term Investments | 19.82B | 20.08B | 13.87B | 13.17B | 8.77B | 5.19B |
| Total Debt | 10.14B | 13.38B | 12.25B | 15.20B | 13.78B | 13.90B |
| Total Liabilities | 38.27B | 22.02B | 18.75B | 21.90B | 20.06B | 18.72B |
| Stockholders Equity | 35.02B | 54.21B | 44.95B | 41.62B | 37.18B | 33.67B |
Cash Flow | ||||||
| Free Cash Flow | 9.29B | 11.17B | 12.07B | 10.68B | 6.59B | -391.42M |
| Operating Cash Flow | 14.25B | 15.57B | 13.45B | 13.46B | 10.26B | 2.94B |
| Investing Cash Flow | -2.92B | -2.75B | -2.45B | -3.79B | -3.41B | -2.88B |
| Financing Cash Flow | -7.69B | -8.92B | -9.32B | -4.83B | -3.31B | -1.14B |
Grupo Aeroportuario del Sureste Technical Analysis
Positive
337.70
Price Trends
320.00
Positive
316.84
Positive
286.02
Positive
Market Momentum
6.08
Positive
57.14
Neutral
43.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASR, the sentiment is Positive. The current price of 337.7 is above the 20-day moving average (MA) of 333.84, above the 50-day MA of 320.00, and above the 200-day MA of 286.02, indicating a bullish trend. The MACD of 6.08 indicates Positive momentum. The RSI at 57.14 is Neutral, neither overbought nor oversold. The STOCH value of 43.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASR.
Grupo Aeroportuario del Sureste Risk Analysis
Grupo Aeroportuario del Sureste disclosed 56 risk factors in its most recent earnings report. Grupo Aeroportuario del Sureste reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grupo Aeroportuario del Sureste Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $10.06B | 16.04 | 28.86% | 7.16% | 5.67% | -9.58% | |
79 Outperform | 5.18B | 19.35 | 47.46% | 4.25% | -7.59% | -9.80% | |
74 Outperform | 12.63B | 26.74 | 38.54% | 4.88% | 7.45% | -13.53% | |
71 Outperform | 3.07B | 21.24 | 20.64% | ― | 10.45% | -62.52% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
Performance Comparison
ASR
Grupo Aeroportuario del Sureste
337.70
67.91
25.17%
OMAB
Grupo Aeroportuario Del Centro
106.77
38.03
55.32%
PAC
Grupo Aeroportuario del Pacifico
249.15
75.87
43.78%
CAAP
Corporacion America Airports SA
18.80
1.56
9.05%
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.