Toscana Aeroporti S.p.A. (TYA) AI Stock Analysis

• Market Cap: €357.35M
• Dividend Yield: 1.96%
• Average Volume (3M): 3.29K
• Price to Earnings (P/E): 19.7
• Beta (1Y): 0.10
• Revenue Growth: 14.30%
• EPS Growth: 23.70%
• Country: IT
• Employees: 397
• Sector: Services
• Sector Strength: N/A
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.44
• Shares Outstanding: 18,611,965
• 10 Day Avg. Volume: 3,315
• 30 Day Avg. Volume: 3,291
• PEG Ratio: 0.44
• Price to Book (P/B): 2.36
• Price to Sales (P/S): 2.15
• P/FCF Ratio: 11.38
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: €21.50 ▲(11.98% Upside)

Toscana Aeroporti S.p.A. scores well due to strong financial performance and positive technical indicators. The company's improved leverage and operational efficiency are significant strengths. However, cash flow challenges and a fair valuation limit the score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business operations, supporting long-term financial stability.

Leverage Improvement

Reduced leverage enhances financial flexibility and lowers risk, allowing for more strategic investments and growth opportunities.

Profitability Margins

Strong profitability margins reflect efficient operations and pricing power, contributing to sustainable earnings and competitive positioning.

Negative Factors

Cash Flow Challenges

Declining free cash flow growth may limit the company's ability to fund new projects and manage debt, impacting long-term growth potential.

Gross Profit Margin Decline

A declining gross profit margin can indicate rising costs or pricing pressures, potentially affecting future profitability and competitiveness.

Cash Generation Ability

Moderate cash generation from operations may constrain the company's ability to reinvest in growth initiatives and maintain financial health.

Toscana Aeroporti S.p.A. Business Overview & Revenue Model

Company Description

Toscana Aeroporti S.p.A. operates and manages Florence and Pisa airports in Italy. The company operates through Aviation Business and Non-Aviation Business segments. It manages handling activities include passenger and aircraft ground handling, landing, aircraft departure and stopover, security and safety activities, passenger boarding and disembarkation, and cargo loading and unloading; and provides engineering services. The company also engages in the retail activities; and provides catering, car parking, car rental, advertising, air ticket office, VIP lounge, and cargo agency services. In addition, it engages in commercial and real estate activities; build airports, roads, railways; performs river and maritime works; and develops noise mitigation systems and prefabricate concrete elements for road, airport, and railway facilities. The company was formerly known as Società Aeroporto Toscano (S.A.T.) Galileo Galilei S.p.A. and changed its name to Toscana Aeroporti S.p.A. in June 2015. Toscana Aeroporti S.p.A. was founded in 1978 and is headquartered in Florence, Italy. Toscana Aeroporti S.p.A. is a subsidiary of Corporacion America Italia S.p.A.

How the Company Makes Money

Toscana Aeroporti generates revenue through multiple streams primarily associated with airport operations. Key revenue sources include aeronautical revenues from landing and take-off fees charged to airlines, passenger service charges, and management of airport facilities. Additionally, TYA earns non-aeronautical revenue from commercial activities such as retail, duty-free shops, and food and beverage concessions located within the airports. The company may also benefit from partnerships with airlines and other stakeholders in the aviation industry, as well as government contracts for infrastructure development and maintenance projects, which contribute to its overall earnings.

Toscana Aeroporti S.p.A. Financial Statement Overview

Summary

Toscana Aeroporti S.p.A. demonstrates solid financial performance with strong revenue growth and profitability margins. The company has improved its leverage position, reducing financial risk. However, challenges in cash flow management and a decline in gross profit margin warrant attention.

Income Statement

Toscana Aeroporti S.p.A. has shown a positive trajectory in revenue growth with a 6.35% increase in TTM. The company maintains healthy margins with a gross profit margin of 37.24% and a net profit margin of 12.57% in TTM. However, there has been a decline in gross profit margin from the previous year, which was at 51.31%. The EBIT and EBITDA margins remain strong, indicating operational efficiency.

Balance Sheet

The company has improved its financial stability with a reduced debt-to-equity ratio of 0.82 in TTM, down from 0.99 in the previous year. Return on equity is strong at 15.17%, reflecting effective use of equity to generate profits. However, the equity ratio is not explicitly provided, which limits a full assessment of asset financing.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 37.69% in TTM, indicating potential cash management issues. The operating cash flow to net income ratio is 0.45, suggesting moderate cash generation from operations. The free cash flow to net income ratio of 0.71 indicates that a significant portion of earnings is converted to free cash flow, although this is a decrease from the previous year.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	157.40M	124.14M	123.26M	90.41M	46.89M	49.43M
Gross Profit	79.31M	63.70M	38.91M	19.22M	-1.28M	-494.00K
EBITDA	45.09M	42.03M	36.27M	17.34M	667.00K	-14.29M
Net Income	18.13M	17.10M	12.63M	4.67M	-5.26M	-12.47M
Balance Sheet
Total Assets	317.74M	296.15M	303.86M	322.94M	332.04M	331.94M
Cash, Cash Equivalents and Short-Term Investments	26.05M	22.80M	26.54M	56.07M	54.15M	76.34M
Total Debt	3.69M	91.04M	104.69M	139.04M	149.47M	153.67M
Total Liabilities	196.73M	182.32M	197.36M	222.19M	229.41M	225.17M
Stockholders Equity	120.31M	112.89M	105.17M	99.59M	101.47M	106.55M
Cash Flow
Free Cash Flow	11.64M	23.45M	12.56M	21.33M	-16.01M	-43.74M
Operating Cash Flow	31.52M	25.05M	26.38M	30.43M	-938.00K	-31.79M
Investing Cash Flow	-24.27M	-6.75M	-13.92M	-10.42M	-15.67M	-11.99M
Financing Cash Flow	873.00K	-21.89M	-42.10M	-18.39M	-5.59M	100.26M

Toscana Aeroporti S.p.A. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:TYA, the sentiment is Positive. The current price of 19.2 is above the 20-day moving average (MA) of 18.93, above the 50-day MA of 18.41, and above the 200-day MA of 16.87, indicating a bullish trend. The MACD of 0.26 indicates Positive momentum. The RSI at 54.26 is Neutral, neither overbought nor oversold. The STOCH value of 68.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:TYA.

Toscana Aeroporti S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TYA	73 Outperform	€357.35M	19.71	―	1.96%	14.30%	23.70%
ENAV	65 Neutral	€2.56B	23.32	9.96%	5.70%	-0.32%	-6.45%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Toscana Aeroporti S.p.A. Corporate Events

Toscana Aeroporti Achieves Record Passenger Growth in November

Toscana Aeroporti reported a record-breaking November with over 600,000 passengers, marking a 10.4% increase from the previous year. The growth was driven by a significant rise in international traffic, compensating for a decline in domestic travel. Both Florence and Pisa airports achieved their best November performances, with Florence seeing a 17.1% rise in international traffic and Pisa a 16.1% increase. This surge positions the Tuscan airport system as a vital contributor to regional economic development.

Toscana Aeroporti Achieves Record Passenger Numbers in October 2025

Toscana Aeroporti achieved a record in October 2025 by surpassing 900,000 passengers, marking a 6.8% increase from the previous year. The Florence and Pisa airports both saw significant growth, with Florence experiencing a notable rise in international traffic and Pisa achieving its best October performance. This growth underscores the company’s strong market positioning and its role as a key economic contributor to the Tuscany region.

Toscana Aeroporti Achieves Record Passenger Numbers in September 2025

Toscana Aeroporti S.p.A. reported a record-breaking September 2025, with nearly one million passengers transiting through its Florence and Pisa airports, marking a 7.0% increase from the previous year. This growth is driven by strong international and national traffic, highlighting the company’s robust performance and its strategic importance in the Tuscan region’s economic landscape.

Toscana Aeroporti Releases Semi-Annual Financial Report for 2025

Toscana Aeroporti S.p.A. has released its Semi-Annual Financial Report as of June 30, 2025, approved by the Board of Directors and available to the public through various channels. This report, along with the auditor’s report, provides insights into the company’s financial performance and strategic positioning, highlighting its role in regional economic development.

Toscana Aeroporti Reports Record Passenger Traffic and Revenue Growth in H1 2025

Toscana Aeroporti S.p.A. reported a significant increase in passenger traffic and financial performance for the first half of 2025, surpassing 4.5 million passengers and achieving a 23.3% rise in total revenues compared to the previous year. The company attributes its success to strategic investments in airport infrastructure and development plans, which have led to record-breaking passenger numbers and solid financial results, positioning it favorably within the Italian airport system.