Auckland International Airport Ltd (AUKNY)
OTHER OTC:AUKNY
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Auckland International Airport
(OTC:AUKNY)
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Rating:74Outperform
Price Target:
$26.00
▲(6.30% Upside)
Action:ReiteratedDate:02/19/26
The score is driven primarily by strong profitability and a solid balance sheet, reinforced by positive (but not overheated) technical momentum. Earnings-call commentary and narrowed guidance are supportive, while the key constraints are negative free cash flow and a relatively expensive valuation (high P/E and modest yield).
Positive Factors
High profitability and margins
Very high operating margins indicate durable operational efficiency and pricing power across aeronautical and commercial activities. Strong margins improve the firm's ability to absorb traffic volatility, fund ongoing capex and support dividends, reinforcing long-term cash generation potential.
Negative Factors
Negative free cash flow
Persistent negative free cash flow amid a large capex program reduces internal funding capacity and increases reliance on debt or retained capital. Sustained negative FCF can constrain shareholder returns, limit flexibility for discretionary spend, and heighten funding risk if traffic slows.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Very high operating margins indicate durable operational efficiency and pricing power across aeronautical and commercial activities. Strong margins improve the firm's ability to absorb traffic volatility, fund ongoing capex and support dividends, reinforcing long-term cash generation potential.
Read all positive factors
Auckland International Airport (AUKNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.82B
Dividend Yield1.57%
Average Volume (3M)266.00
Price to Earnings (P/E)19.1
Beta (1Y)0.54
Revenue Growth6.16%
EPS Growth7313.59%
CountryUS
Employees754
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.28
Shares Outstanding339,991,640
10 Day Avg. Volume0
30 Day Avg. Volume266
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.27
Price to Sales (P/S)14.36
P/FCF Ratio-28.79
Enterprise Value/Market Cap2.04
Enterprise Value/Revenue15.89
Enterprise Value/Gross Profit31.14
Enterprise Value/Ebitda20.19
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.54
Revenue Forecast (FY)$613.36M
Auckland International Airport Business Overview & Revenue Model
Company Description
Auckland International Airport Limited provides airport facilities, supporting infrastructure, and aeronautical services in Auckland, New Zealand. The company operates through three segments: Aeronautical, Retail, and Property. The Aeronautical se...
How the Company Makes Money
The company makes money through a mix of aeronautical and non-aeronautical revenue streams. Aeronautical revenue is earned by charging airlines and aircraft operators for the use of airport facilities and services, such as aircraft landing and tak...
Auckland International Airport Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 26, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and financial picture: underlying trading improved (revenue +4%, EBITDAFI +6%, underlying NPAT +6%), strong cargo growth (+37%), meaningful asset commissioning and clear progress on connectivity and the integrated domestic jet terminal. Management demonstrated cost discipline and maintained robust liquidity. Key risks include retail yield pressures, higher depreciation from recent commissioning, some project complexity causing localized disruption, and external factors such as global fleet shortages and regulatory/tax uncertainty. On balance the positive operational momentum and the strengthened guidance outweigh the setbacks.Positive Updates
Revenue and Underlying Profit Growth
1H FY26 revenue rose 4% to just under $520m. Operating EBITDAFI increased 6% to ~$371.3m with EBITDAFI margin up to 71.5% (from just under 70%). Net underlying profit after tax rose 6% to $157.1m.
Negative Updates
Reported Profit Impacted by Revaluations
Total reported profit after tax fell 5% to $177m, largely due to lower investment property revaluations compared with the prior period.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Underlying Profit Growth
1H FY26 revenue rose 4% to just under $520m. Operating EBITDAFI increased 6% to ~$371.3m with EBITDAFI margin up to 71.5% (from just under 70%). Net underlying profit after tax rose 6% to $157.1m.
Read all positive updates
Company Guidance
Auckland Airport narrowed its FY26 guidance to underlying profit after tax of NZ$295–320 million, with passenger forecasts of circa 8.6 million domestic and circa 10.6 million international travellers and capital expenditure trimmed to NZ$1.0–1.2 billion; management said depreciation plus net interest is targeted around NZ$300 million (possibly 2–5% higher), operating expenses may rise in the second half by low single-digit dollars while management aims to reduce unit cost-to-serve, and the tax rate is expected to trend toward ~28%. The company reiterated return-to-shareholder metrics with an interim dividend of NZ$0.065 per share (DRP available at a 2.5% discount and >40% participation historically) and noted upside — including reaching the top half of the profit range — if passenger forecasts are achieved, while all guidance remains subject to material adverse events and program execution risks.Auckland International Airport Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.00B | 929.30M | 836.70M | 622.70M | 300.00M | 276.20M |
| Gross Profit | 512.78M | 929.30M | 660.40M | 292.50M | 49.20M | 169.40M |
| EBITDA | 790.71M | 827.20M | 584.10M | 252.20M | 336.40M | 149.30M |
| Net Income | 412.65M | 420.70M | 5.50M | 43.20M | 191.60M | 464.20M |
Balance Sheet | ||||||
| Total Assets | 14.27B | 14.06B | 12.42B | 10.83B | 10.18B | 9.82B |
| Cash, Cash Equivalents and Short-Term Investments | 360.17M | 567.80M | 219.70M | 107.80M | 24.70M | 79.50M |
| Total Debt | 2.65B | 2.49B | 2.68B | 1.82B | 1.48B | 1.39B |
| Total Liabilities | 3.70B | 3.59B | 3.81B | 2.45B | 2.03B | 1.89B |
| Stockholders Equity | 10.57B | 10.47B | 8.61B | 8.38B | 8.15B | 7.93B |
Cash Flow | ||||||
| Free Cash Flow | -428.82M | -463.50M | -350.90M | -157.60M | -128.60M | -82.40M |
| Operating Cash Flow | 418.15M | 474.30M | 496.30M | 307.50M | 96.20M | 59.10M |
| Investing Cash Flow | -884.31M | -1.11B | -1.12B | -578.00M | -278.20M | -214.60M |
| Financing Cash Flow | 359.71M | 979.00M | 741.20M | 352.00M | 127.20M | -530.30M |
Auckland International Airport Technical Analysis
Negative
24.46
Price Trends
24.88
Negative
24.06
Negative
23.33
Negative
Market Momentum
-0.64
Positive
38.26
Neutral
32.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AUKNY, the sentiment is Negative. The current price of 24.46 is above the 20-day moving average (MA) of 23.85, below the 50-day MA of 24.88, and above the 200-day MA of 23.33, indicating a bearish trend. The MACD of -0.64 indicates Positive momentum. The RSI at 38.26 is Neutral, neither overbought nor oversold. The STOCH value of 32.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AUKNY.
Auckland International Airport Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.57B | 19.42 | 52.26% | 4.03% | -2.04% | -3.82% | |
74 Outperform | $7.82B | 19.13 | 3.90% | 1.57% | 6.16% | 7313.59% | |
69 Neutral | $10.32B | 16.66 | 30.03% | 11.85% | 8.70% | -21.15% | |
69 Neutral | $4.19B | 17.03 | 17.03% | ― | 14.87% | -47.71% | |
65 Neutral | $12.53B | 23.99 | 44.97% | 4.46% | 11.58% | 1.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
AUKNY
Auckland International Airport
23.12
2.07
9.86%
OMAB
Grupo Aeroportuario Del Centro
116.73
46.47
66.14%
PAC
Grupo Aeroportuario del Pacifico
252.27
80.03
46.47%
ASR
Grupo Aeroportuario del Sureste
347.30
115.94
50.11%
CAAP
Corporacion America Airports SA
25.66
9.36
57.42%
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.