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Auckland International Airport Ltd (AUKNY)
OTHER OTC:AUKNY
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Auckland International Airport
(OTC:AUKNY)
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Rating:71Outperform
Price Target:
$25.00
▲(2.21% Upside)
Auckland International Airport's stock score is driven by strong financial performance and positive earnings call insights, indicating robust revenue growth and infrastructure development. However, technical indicators and valuation suggest caution, with the stock appearing expensive and lacking strong upward momentum. Challenges in domestic passenger numbers and retail income also weigh on the overall score.
Positive Factors
Revenue Growth
A 12% revenue growth reflects strong market demand and effective pricing strategies, enhancing the company's financial stability and growth potential.
Infrastructure Development
Ongoing infrastructure projects indicate strategic investment in capacity expansion, supporting long-term operational efficiency and service quality.
Commercial Property Strength
Strong rental growth and high occupancy rates in commercial properties provide a stable revenue base, enhancing financial resilience and diversification.
Negative Factors
Domestic Passenger Decline
A decline in domestic passengers could impact revenue streams and indicates potential challenges in capturing local market share amid capacity constraints.
Retail Income Challenges
Minimal growth in retail income per passenger suggests pressure on non-aeronautical revenue, potentially affecting profitability and cash flow.
Negative Free Cash Flow
Negative free cash flow, despite slight improvement, indicates potential liquidity issues and limits the ability to fund growth initiatives internally.
Auckland International Airport (AUKNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.36B
Dividend Yield1.57%
Average Volume (3M)266.00
Price to Earnings (P/E)32.0
Beta (1Y)0.47
Revenue Growth6.16%
EPS Growth7313.59%
CountryUS
Employees754
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.28
Shares Outstanding339,025,900
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 Cap1.89
Enterprise Value/Revenue16.40
Enterprise Value/Gross Profit25.56
Enterprise Value/Ebitda20.86
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
Auckland International Airport Business Overview & Revenue Model
Company DescriptionAuckland 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 segment provides services that facilitate the movement of aircraft, passengers, and cargo, as well as utility services, which support the airport; and leases space for facilities, such as terminals. The Retail segment offers services to the retailers within the terminals; and car parking facilities for passengers, visitors, and airport staff. The Property segment leases cargo buildings, hangars, and stand-alone investment properties. The company was founded in 1966 and is based in Manukau, New Zealand.
How the Company Makes MoneyAuckland International Airport generates revenue through several key streams. Primarily, the airport earns money from aeronautical services which include landing fees, terminal charges, and passenger services charges paid by airlines. Additionally, non-aeronautical revenue plays a significant role, derived from retail operations, parking fees, rental properties, and advertising. The airport also benefits from partnerships with airlines and retail brands, enhancing its service offerings and increasing commercial opportunities. These diverse revenue streams, combined with strategic partnerships and investments in infrastructure, contribute to the airport's financial performance.
Auckland International Airport Earnings Call Summary
Earnings Call Date:Aug 20, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The earnings call highlights strong financial performance, infrastructure progress, and positive trends in international connectivity. However, challenges in domestic passenger numbers, retail income, and ongoing operational issues present concerns.Q4-2025 Updates
Positive Updates
Revenue Growth
Full year revenue increased by 12% from the prior year to just over $1 billion, driven by increased passenger numbers and aeronautical charges.
EBITDAFI and Profit Increase
Operating EBITDAFI of $701 million is up 14% on the prior year, with an EBITDAFI margin of 69.8%. Reported profit after tax increased significantly to $420.7 million.
Infrastructure Progress
FY '25 has seen continued positive momentum with over 1,500 people working on sites and key projects in the pipeline.
International Connectivity
International airline seat capacity stabilized at 92% of 2019 levels, with new routes and expanded capacity announced by several airline partners.
Commercial Property Strength
The commercial property business showed strong rental growth, with rent roll increasing 18% to $192 million and occupancy rates over 99%.
Negative Updates
Domestic Passenger Decline
Domestic passenger numbers were down 0.5% to 8.4 million, affected by airline capacity constraints and economic environment.
Retail Income Challenges
Retail income per passenger only increased by 1% due to significant impact from foreign exchange transactions and consumer shifts to lower price points.
Ongoing Operational Challenges
The global backlog of replacement fleet orders has seen airlines prioritizing higher-yielding routes, affecting international capacity, which reduced year-on-year by 2.2%.
Company Guidance
In the Auckland Airport Annual Results 2025 call, CEO Carrie Hurihanganui provided guidance reflecting a year of positive performance despite global aviation challenges and a subdued local economy. The fiscal year saw passenger movements increase by 1.1% to 18.7 million, with international traffic up 2.5%, while domestic movements slightly declined. Revenue rose by 12% to over $1 billion, driven by higher passenger numbers and aeronautical charges. Operating EBITDAFI increased by 14% to $701 million, resulting in an EBITDAFI margin of 69.8%. Significant investments were highlighted, including $1.1 billion in capital expenditure, with $878 million dedicated to aeronautical infrastructure. Looking ahead to FY '26, Auckland Airport anticipates passenger growth with international and domestic numbers reaching 10.6 million and 8.6 million, respectively. The guidance for underlying earnings is set between $280 million and $320 million, considering ongoing airline capacity constraints and an uncertain geopolitical environment.Auckland International Airport Financial Statement Overview
Summary
Auckland International Airport demonstrates strong revenue growth and profitability, supported by efficient operations and a solid balance sheet. However, the negative free cash flow and low return on equity suggest areas for improvement in cash management and shareholder returns.Income Statement
Auckland International Airport has shown strong revenue growth of 7.62% in the latest year, with impressive gross and net profit margins of 100% and 45.27% respectively. The EBIT and EBITDA margins are also robust at 67.42% and 89.01%, indicating efficient operations. However, the significant increase in net income from the previous year suggests potential volatility.Balance Sheet
The company maintains a healthy debt-to-equity ratio of 0.24, reflecting prudent financial leverage. The equity ratio stands at 74.48%, indicating a strong equity base. However, the return on equity is relatively low, suggesting room for improvement in generating returns on shareholders' investments.Cash Flow
Operating cash flow remains positive, but the company faces challenges with negative free cash flow, which has improved slightly by 16.20%. The operating cash flow to net income ratio is 0.75, indicating decent cash generation relative to net income. However, the negative free cash flow to net income ratio highlights potential liquidity concerns.| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 961.30M | 929.30M | 836.70M | 622.70M | 300.00M | 276.20M |
| Gross Profit | 616.70M | 929.30M | 660.40M | 292.50M | 49.20M | 169.40M |
| EBITDA | 755.60M | 827.20M | 584.10M | 252.20M | 336.40M | 149.30M |
| Net Income | 420.70M | 420.70M | 5.50M | 43.20M | 191.60M | 464.20M |
Balance Sheet | ||||||
| Total Assets | 14.06B | 14.06B | 12.42B | 10.83B | 10.18B | 9.82B |
| Cash, Cash Equivalents and Short-Term Investments | 567.80M | 567.80M | 219.70M | 107.80M | 24.70M | 79.50M |
| Total Debt | 2.49B | 2.49B | 2.68B | 1.82B | 1.48B | 1.39B |
| Total Liabilities | 3.59B | 3.59B | 3.81B | 2.45B | 2.03B | 1.89B |
| Stockholders Equity | 10.47B | 10.47B | 8.61B | 8.38B | 8.15B | 7.93B |
Cash Flow | ||||||
| Free Cash Flow | -527.10M | -463.50M | -350.90M | -157.60M | -128.60M | -82.40M |
| Operating Cash Flow | 441.40M | 474.30M | 496.30M | 307.50M | 96.20M | 59.10M |
| Investing Cash Flow | -1.07B | -1.11B | -1.12B | -578.00M | -278.20M | -214.60M |
| Financing Cash Flow | 979.00M | 979.00M | 741.20M | 352.00M | 127.20M | -530.30M |
Auckland International Airport Technical Analysis
Positive
24.46
Price Trends
23.27
Positive
23.03
Positive
22.96
Positive
Market Momentum
0.38
Negative
72.62
Negative
90.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AUKNY, the sentiment is Positive. The current price of 24.46 is above the 20-day moving average (MA) of 24.03, above the 50-day MA of 23.27, and above the 200-day MA of 22.96, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 72.62 is Negative, neither overbought nor oversold. The STOCH value of 90.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $5.38B | 19.79 | 53.28% | 4.03% | -2.04% | -3.82% | |
73 Outperform | $9.73B | 17.18 | 24.69% | 11.85% | 8.70% | -21.15% | |
71 Outperform | $8.36B | 32.04 | 4.28% | 1.57% | 6.16% | 7313.59% | |
71 Outperform | $4.40B | 23.71 | 13.25% | ― | 14.87% | -47.71% | |
65 Neutral | $13.51B | 26.72 | 46.45% | 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
24.79
1.69
7.31%
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ASR
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322.87
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CAAP
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26.83
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44.17%
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.