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Aena SA (ES:AENA)
BME:AENA

Aena SA (AENA) AI Stock Analysis

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ES

Aena SA

(BME:AENA)

Rating:81Outperform
Price Target:
€277.00
▲(14.18%Upside)
Aena SA's strong financial performance is the most significant factor driving the score, supported by solid revenue and profit growth. Technical analysis indicates positive momentum, while a fair valuation with a decent dividend yield adds to the overall attractiveness of the stock.
Positive Factors
Financial performance
AENA has held up better than the rest of coverage, which makes sense given a strong balance sheet and largely European consumer exposure.
Negative Factors
Free cash flow
A peak-to-trough decline in free cash flow of approximately 40% is modeled, driven by rising capital expenditures amid stable aeronautical fees.
Stock recommendation
Analyst recommendation for Aena SA is downgraded to sell.

Aena SA (AENA) vs. iShares MSCI Spain ETF (EWP)

Aena SA Business Overview & Revenue Model

Company DescriptionAena SA (AENA) is a leading Spanish airport operator, responsible for the management and operation of a vast network of airports and heliports primarily in Spain and internationally. The company is a prominent player in the aviation sector, providing comprehensive airport services that include passenger services, retail and commercial activities, air cargo handling, and real estate services associated with airport operations.
How the Company Makes MoneyAena SA generates revenue primarily through several key streams: aeronautical revenues, which include charges to airlines for landing, takeoff, and aircraft parking, as well as passenger fees; commercial revenues, derived from the leasing of retail spaces, parking services, advertising, and other passenger-related services within airport premises; real estate income, which comes from the leasing and management of airport-related properties; and international operations, where the company earns fees from managing airports outside of Spain. Additionally, Aena collaborates with various stakeholders, including airlines, retailers, and government entities, to enhance its service offerings and infrastructure, thereby contributing to its financial performance.

Aena SA Financial Statement Overview

Summary
Aena SA's financial health is strong, marked by impressive revenue and profitability growth. The company's balance sheet is robust with no debt, reducing financial risk and providing a solid foundation for future expansion. Strong cash flow generation supports operational stability and shareholder returns. Continued focus on growth and maintaining margins will be essential in the competitive transportation industry.
Income Statement
85
Very Positive
Aena SA demonstrates strong income statement performance with robust revenue growth of 14.3% from 2023 to 2024. The company's net profit margin improved to 33.5% in 2024, reflecting enhanced profitability. Gross profit and EBIT margins are high at 71.7% and 46.2%, respectively, suggesting efficient cost management. However, the industry is competitive, and maintaining these growth rates could be challenging.
Balance Sheet
88
Very Positive
The balance sheet shows Aena SA has a solid equity base with a debt-to-equity ratio of 0, highlighting financial stability. The equity ratio is 48.7%, indicating a strong capital structure. Return on Equity improved significantly to 23.4%, showcasing effective utilization of shareholder funds. With no debt, financial risk is minimal, though future growth may require leveraging opportunities.
Cash Flow
82
Very Positive
The cash flow statement indicates healthy cash management, with a free cash flow growth of 120.0% from 2023 to 2024. Operating cash flow to net income ratio is 1.42, showing strong cash generation relative to profits. Free cash flow to net income ratio is 0.99, underscoring cash generation efficiency. Despite these strengths, consistent free cash flow growth will be critical for sustaining operations and dividends.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
7.50B5.76B5.04B4.18B2.32B2.18B
Gross Profit
5.46B4.13B4.00B2.55B795.19M679.48M
EBIT
3.60B2.66B2.20B1.34B73.63M41.45M
EBITDA
4.58B3.64B3.20B2.02B123.77M679.26M
Net Income Common Stockholders
2.62B1.93B1.63B901.50M-89.58M-160.75M
Balance SheetCash, Cash Equivalents and Short-Term Investments
1.82B1.82B2.40B1.57B1.47B1.22B
Total Assets
16.98B16.98B17.56B15.85B16.33B15.66B
Total Debt
6.99B6.99B7.40B7.63B8.72B8.11B
Net Debt
5.17B5.17B5.03B6.06B7.26B6.88B
Total Liabilities
8.45B8.45B10.00B9.21B10.31B9.60B
Stockholders Equity
8.28B8.28B7.63B6.72B6.10B6.12B
Cash FlowFree Cash Flow
2.07B1.92B873.65M1.14B-390.61M-356.88M
Operating Cash Flow
2.85B2.75B2.22B1.86B280.47M146.24M
Investing Cash Flow
-735.67M-804.35M-1.42B-664.16M-660.91M-534.70M
Financing Cash Flow
-2.43B-2.43B-19.61M-1.09B619.81M1.38B

Aena SA Technical Analysis

Technical Analysis Sentiment
Positive
Last Price242.60
Price Trends
50DMA
222.83
Positive
100DMA
213.57
Positive
200DMA
202.09
Positive
Market Momentum
MACD
4.73
Positive
RSI
66.93
Neutral
STOCH
88.70
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:AENA, the sentiment is Positive. The current price of 242.6 is above the 20-day moving average (MA) of 237.01, above the 50-day MA of 222.83, and above the 200-day MA of 202.09, indicating a bullish trend. The MACD of 4.73 indicates Positive momentum. The RSI at 66.93 is Neutral, neither overbought nor oversold. The STOCH value of 88.70 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:AENA.

Aena SA Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
81
Outperform
€36.39B18.4323.95%3.30%11.50%12.30%
ESMEL
74
Outperform
€1.53B10.8722.13%1.09%4.35%19.45%
ESNHH
72
Outperform
€2.74B12.9220.24%11.99%65.25%
61
Neutral
$2.83B10.920.41%8438.90%5.75%-21.03%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ES:AENA
Aena SA
242.60
68.07
39.00%
ES:MEL
MELIA HOTELS INTERNATIONAL
6.95
-0.75
-9.76%
ES:NHH
NH Hotel Group S.A
6.28
1.98
46.05%

Aena SA Corporate Events

Aena SA Reports Strong Q1 2025 Financial Performance
Apr 30, 2025

Aena SA reported a net profit of 301.3 million euros in the first quarter of 2025, marking an increase from the previous year. The company’s EBITDA grew by 10.8% to 643.6 million euros, and total revenues rose by 7.5% to over 1,325 million euros. Passenger traffic increased by 4.9%, reaching 78.3 million passengers across its managed airports. Aena invested over 200 million euros in improving airport facilities and safety. The company’s financial health improved with a reduction in net financial debt and strong cash generation.

Aena to Present Q1 2025 Financial Results
Apr 23, 2025

Aena S.M.E. S.A. has announced its upcoming presentation of financial results for the first quarter of 2025, scheduled for April 30. This event will provide insights into the company’s financial performance and is crucial for stakeholders to assess Aena’s market position and operational strategies.

Aena Announces Board of Directors Changes and Committee Appointments
Apr 9, 2025

Aena, S.M.E., S.A. has announced several changes to its Board of Directors following its Ordinary General Meeting of Shareholders. These changes include the appointment of Mr. Ramon Tremosa i Balcells as an Independent Director and the re-election of several directors for a four-year term. The company has also made adjustments to its committee memberships, maintaining its commitment to independent director representation and gender diversity on the board.

Aena Announces 9.76 Euros Dividend Per Share for 2024
Apr 9, 2025

Aena S.M.E., S.A. has announced that its Ordinary General Meeting of Shareholders has approved a dividend distribution of 9.76 euros gross per share, based on the company’s 2024 fiscal year results. This dividend will be paid on April 24, 2025, through IBERCLEAR, with necessary withholdings applied, reflecting the company’s financial health and commitment to returning value to its shareholders.

Aena Announces Share Split to Enhance Market Liquidity
Apr 9, 2025

Aena, S.M.E., S.A. has announced a share split approved during its Ordinary General Shareholders’ Meeting, changing the nominal value of each share from 10 euros to 1 euro, effectively increasing the number of shares in circulation by a factor of ten without altering the total share capital. This strategic move aims to enhance the liquidity and accessibility of Aena’s shares, potentially attracting a broader range of investors and improving market positioning. The implementation of the share split will be overseen by the Board of Directors and communicated through the National Securities Market Commission.

Aena Shareholders Approve All Proposals at General Meeting
Apr 9, 2025

The Ordinary General Meeting of Shareholders of Aena, S.M.E. S.A. has approved all proposals on its agenda with the required majorities. This approval signifies a unified direction for the company, potentially impacting its strategic decisions and stakeholder relations.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.