Grupo Aeroportuario Del Sureste (ASR)
NYSE:ASR
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Grupo Aeroportuario del Sureste
(NYSE:ASR)
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Rating:61Neutral
Price Target:
$335.00
â–Ľ(-3.54% Downside)
Action:ReiteratedDate:04/25/26
The score is primarily constrained by weaker financial quality signals (free cash flow collapse in TTM and higher leverage) and bearish technicals (below major moving averages with negative MACD). These are partly offset by supportive valuation metrics (moderate P/E and very high dividend yield) and a cautiously constructive earnings outlook driven by recovery and expansion catalysts, despite near-term cost and margin headwinds.
Positive Factors
Revenue growth & margins
Sustained high revenue growth and very strong margins (TTM net margin ~28%, EBITDA margin >50%) indicate durable demand and operational leverage across ASUR’s portfolio. This supports cash generation potential from core airport operations and resilience to cyclical dips in traffic.
Negative Factors
Rising leverage
Debt-to-equity nearly doubled versus prior years as ASUR funded acquisitions and capex. Higher leverage reduces financial flexibility for cycles or further M&A, increases interest exposure, and raises refinancing risk if traffic or cash flows underperform expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & margins
Sustained high revenue growth and very strong margins (TTM net margin ~28%, EBITDA margin >50%) indicate durable demand and operational leverage across ASUR’s portfolio. This supports cash generation potential from core airport operations and resilience to cyclical dips in traffic.
Read all positive factors
Grupo Aeroportuario del Sureste (ASR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.56B
Dividend Yield11.85%
Average Volume (3M)69.56K
Price to Earnings (P/E)15.8
Beta (1Y)0.61
Revenue Growth18.61%
EPS Growth-27.53%
CountryUS
Employees1,936
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)5.42
Shares Outstanding27,705,000
10 Day Avg. Volume56,295
30 Day Avg. Volume69,561
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)4.42
Price to Sales (P/S)4.69
P/FCF Ratio34.60
Enterprise Value/Market Cap19.38
Enterprise Value/Revenue4.94
Enterprise Value/Gross Profit8.75
Enterprise Value/Ebitda10.00
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)23.2
Revenue Forecast (FY)$2.32B
Grupo Aeroportuario del Sureste Business Overview & Revenue Model
Company Description
Grupo Aeroportuario del Sureste, S. A. B. de C. V. holds concessions to operate, maintain, and develop airports in the southeast region of Mexico. The company operates nine airports that are located in the cities of CancĂşn, Cozumel, MĂ©rida, Huatul...
How the Company Makes Money
ASUR generates revenue mainly by operating airports under long-term concessions/operating rights and monetizing both airline-related services and passenger-driven commercial activity. Its key revenue streams typically include: (1) Aeronautical rev...
Grupo Aeroportuario del Sureste Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Neutral
The call highlighted material strategic progress—completion of a U.S. acquisition, a signed large Motiva deal, strong full‑year revenue growth, healthy cash and low leverage, and solid commercial expansion—while simultaneously signaling near‑term operational and profitability headwinds: rising operating costs (+25%), a Q4 EBITDA decline (~5%) and notable FX and accounting impacts that reduced net income. Regional performance was mixed (strong Colombia, weakness in Cancun, Puerto Rico and South America). Given the balance between clear strategic/scale gains and meaningful short‑term margin and income pressures, the tone is cautious but constructive.Positive Updates
Completion of ASUR U.S. Acquisition
Closed acquisition of URW Airports (renamed ASUR U.S.) on Dec 11 at an enterprise value of $295 million; ASUR U.S. contributed approximately $133 million of revenues and $86 million of EBITDA from Dec 11–31. Adds dollar‑denominated commercial exposure, diversification beyond regulated income, and a scalable U.S. platform.
Negative Updates
Q4 Revenue Stagnation
Total consolidated revenues in Q4 were flat year‑on‑year at MXN 7.3 billion, reflecting softer traffic in Mexico and FX headwinds from Mexican peso appreciation on commercial activity.
Read all updates
Q4-2025 Updates
Positive
Negative
Completion of ASUR U.S. Acquisition
Closed acquisition of URW Airports (renamed ASUR U.S.) on Dec 11 at an enterprise value of $295 million; ASUR U.S. contributed approximately $133 million of revenues and $86 million of EBITDA from Dec 11–31. Adds dollar‑denominated commercial exposure, diversification beyond regulated income, and a scalable U.S. platform.
Read all positive updates
Company Guidance
Management guided that traffic should gradually stabilize in 2026—Mexico normalizing as aircraft availability improves (Cancun expected to recover as comparables ease and Terminal 1 reopens in Q3), while Puerto Rico and Colombia should sustain positive momentum—and that ASUR will begin disclosing more detail on the newly acquired ASUR U.S. from Q1 2026 (the U.S. business contributed about $133 million of revenue and $86 million of EBITDA from Dec. 11–31 and should see a meaningful uplift when the new JFK Terminal 1 opens in Q3), reiterated the Motiva airports purchase price of BRL 5 billion (~$936 million) which would add ~45 million passengers annually (bringing total system traffic to >116 million) and is expected to close in H1 2026 (management later noted regulatory timing could push to late H1/early Q3), that the Motiva deal will be debt‑funded, and reminded investors of balance‑sheet and cash metrics (cash MXN 11.0 billion, net debt MXN 16.0 billion = 0.8x LTM EBITDA), recent investment levels (Q4 CapEx MXN 3.9 billion, FY CapEx MXN 7.8 billion), 2025 dividends of MXN 24 billion, and the phasing out of regulated revenues by 2027 with concessions running through 2032.Grupo Aeroportuario del Sureste Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
58
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.47B | 37.24B | 31.33B | 25.82B | 25.31B | 18.78B |
| Gross Profit | 21.16B | 20.60B | 20.16B | 15.56B | 18.77B | 12.26B |
| EBITDA | 18.53B | 20.25B | 23.52B | 17.82B | 17.00B | 10.64B |
| Net Income | 9.83B | 10.49B | 13.55B | 10.20B | 9.99B | 5.98B |
Balance Sheet | ||||||
| Total Assets | 91.77B | 88.14B | 83.64B | 70.34B | 70.92B | 65.83B |
| Cash, Cash Equivalents and Short-Term Investments | 13.69B | 11.12B | 20.08B | 13.87B | 13.17B | 8.77B |
| Total Debt | 35.04B | 34.01B | 13.38B | 12.25B | 15.20B | 13.78B |
| Total Liabilities | 42.78B | 41.73B | 22.02B | 18.75B | 21.90B | 20.06B |
| Stockholders Equity | 42.01B | 39.51B | 54.21B | 44.95B | 41.62B | 37.18B |
Cash Flow | ||||||
| Free Cash Flow | 48.60M | 5.05B | 11.17B | 12.07B | 10.68B | 6.59B |
| Operating Cash Flow | 8.60B | 12.86B | 15.57B | 13.45B | 13.46B | 10.26B |
| Investing Cash Flow | -9.42B | -10.46B | -2.75B | -2.45B | -3.79B | -3.41B |
| Financing Cash Flow | -4.94B | -10.28B | -8.92B | -9.32B | -4.83B | -3.31B |
Grupo Aeroportuario del Sureste Technical Analysis
Neutral
347.30
Price Trends
346.25
Negative
334.41
Positive
319.43
Positive
Market Momentum
0.98
Negative
48.39
Neutral
26.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASR, the sentiment is Neutral. The current price of 347.3 is above the 20-day moving average (MA) of 337.70, above the 50-day MA of 346.25, and above the 200-day MA of 319.43, indicating a neutral trend. The MACD of 0.98 indicates Negative momentum. The RSI at 48.39 is Neutral, neither overbought nor oversold. The STOCH value of 26.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.64B | 19.42 | 52.26% | 4.03% | 1.10% | 3.23% | |
73 Outperform | $13.55B | 16.88 | 58.94% | 4.46% | 20.39% | 16.34% | |
69 Neutral | $4.08B | 17.03 | 17.03% | ― | 12.89% | -1.83% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $9.56B | 15.78 | 31.24% | 11.85% | 18.61% | -27.53% |
* Industrials Sector Average
ASR
Grupo Aeroportuario del Sureste
308.14
29.69
10.66%
OMAB
Grupo Aeroportuario Del Centro
111.04
28.67
34.81%
PAC
Grupo Aeroportuario del Pacifico
254.33
60.91
31.49%
CAAP
Corporacion America Airports SA
24.81
5.33
27.36%
Grupo Aeroportuario del Sureste Corporate Events
ASUR Shareholders Approve 2025 Results, Dividend and Buyback Plan at April 23 Meeting
Apr 23, 2026
On April 23, 2026, ASUR shareholders met in Mexico City for the General Annual Ordinary Shareholders’ Meeting and approved reports from the CEO, Board and Audit and Corporate Practices Committee covering operations, accounting policies and r...
Grupo Aeroportuario del Sureste Posts Softer Margins Despite Traffic Growth in 1Q26
Apr 22, 2026
On April 22, 2026, ASUR reported first-quarter 2026 results showing total passenger traffic up 1.9% year on year, supported by an 11.0% increase in Colombia while Mexico was essentially flat and Puerto Rico declined 2.2%. Commercial revenue per pa...
Grupo Aeroportuario del Sureste Files 2025 Form 20-F and Releases Sustainability Report
Apr 17, 2026
On April 16, 2026, Grupo Aeroportuario del Sureste announced it had filed its 2025 Form 20-F with the U.S. Securities and Exchange Commission, covering the year ended December 31, 2025. The company simultaneously released its 2025 Sustainability R...
ASUR Posts Slight March Traffic Gain as Colombia Surges and Mexico, Puerto Rico Slip
Apr 7, 2026
On April 7, 2026, ASUR reported that total passenger traffic across its network reached 6.6 million travelers in March 2026, up 0.6% versus March 2025, with year-to-date traffic rising 1.9%. Performance was mixed by region: Colombia posted a stron...
ASUR Posts Modest February 2026 Passenger Growth Led by Colombia and International Routes
Mar 5, 2026
On March 5, 2026, ASUR reported that total passenger traffic across its network reached 5.7 million in February 2026, up 1.6% versus February 2025. The figures, which exclude transit and general aviation passengers in Mexico and Colombia, reflect ...
Grupo Aeroportuario del Sureste Sets April 23, 2026 Shareholders’ Meeting and Dividend Proposal
Mar 4, 2026
Grupo Aeroportuario del Sureste, a Mexico-headquartered airport group listed in both Mexico and the U.S., announced on March 4, 2026 that it will hold its Ordinary Annual General Shareholders’ Meeting on April 23, 2026 in Mexico City. The co...
ASUR Q4 2025 Results Show Profit Pressure as U.S. Retail Acquisition Reshapes Balance Sheet
Feb 24, 2026
On February 24, 2026, ASUR reported fourth-quarter 2025 results showing modest overall passenger growth of 0.9% year-on-year, driven by a 5.7% increase in Colombia and flat traffic in Mexico, while Puerto Rico posted a 3.1% decline. Total revenue ...
ASUR Posts 3.6% January Passenger Growth on Strong Colombia Traffic
Feb 9, 2026
On February 9, 2026, ASUR reported that total passenger traffic across its network reached 6.66 million travelers in January 2026, a 3.6% increase versus January 2025, underscoring continued recovery and growth in air travel demand. The performanc...
ASUR Shareholders Approve New Acquisition and Debt Powers to Support Expansion
Jan 26, 2026
On January 26, 2026, ASUR’s shareholders, meeting in a General Ordinary Shareholders’ Meeting in Mexico City, approved resolutions authorizing the company to acquire all or part of shares and airport operators, including Companhia de P...
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.