Toscana Aeroporti S.p.A. (IT:TYA)
:TYA
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Toscana Aeroporti S.p.A.
(TYA)
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Rating:67Neutral
Price Target:
€20.00
▲(7.53% Upside)
Action:Reiterated
Date:05/20/26
The score is driven primarily by improved financial performance (sustained profitability and better leverage), tempered by a recent TTM revenue dip and inconsistent cash conversion. Technicals are mildly positive but constrained by overbought signals, and valuation appears only moderately supportive given the P/E and modest dividend yield.
Positive Factors
Improved Profitability
Profitability has recovered materially since 2021, with durable operating margins near 20% and net margins around 9.6%. Sustained margins support reinvestment capacity, RONA and shareholder returns and provide a buffer against cyclical traffic swings in the medium term.
Negative Factors
TTM Revenue Dip
A recent TTM revenue decline signals moderation after prior rebounds; for an airport operator reliant on passenger volumes and tourism, slower top‑line growth can pressure long‑run fee and concession revenue expansion and limit margin upside absent network or route gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
Profitability has recovered materially since 2021, with durable operating margins near 20% and net margins around 9.6%. Sustained margins support reinvestment capacity, RONA and shareholder returns and provide a buffer against cyclical traffic swings in the medium term.
Read all positive factors
Toscana Aeroporti S.p.A. (TYA) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€344.32M
Dividend Yield1.96%
Average Volume (3M)3.29K
Price to Earnings (P/E)―
Beta (1Y)0.15
Revenue Growth12.72%
EPS Growth-9.12%
CountryIT
Employees397
SectorGeneral
Sector StrengthN/A
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.82
Shares Outstanding18,611,965
10 Day Avg. Volume3,315
30 Day Avg. Volume3,291
Financial Highlights & Ratios
PEG Ratio-3.98
Price to Book (P/B)2.83
Price to Sales (P/S)2.44
P/FCF Ratio12.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
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
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, la...
How the Company Makes Money
Toscana Aeroporti makes money primarily by operating its airports and charging for the use of airport infrastructure and services. Key revenue streams typically include: (1) Aviation revenues: fees and charges paid mainly by airlines and operators...
Toscana Aeroporti S.p.A. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 159.77M | 142.40M | 124.14M | 123.26M | 90.41M | 46.89M |
| Gross Profit | 62.36M | 29.60M | 63.70M | 38.91M | 19.22M | -1.28M |
| EBITDA | 42.35M | 43.05M | 42.03M | 36.27M | 17.34M | 667.00K |
| Net Income | 15.36M | 16.10M | 17.10M | 12.63M | 4.67M | -5.26M |
Balance Sheet | ||||||
| Total Assets | 319.25M | 325.01M | 296.15M | 303.86M | 322.94M | 332.04M |
| Cash, Cash Equivalents and Short-Term Investments | 17.43M | 29.61M | 22.80M | 26.54M | 56.07M | 54.15M |
| Total Debt | 102.63M | 101.09M | 91.04M | 104.69M | 139.04M | 149.47M |
| Total Liabilities | 195.97M | 201.09M | 182.32M | 197.36M | 222.19M | 229.41M |
| Stockholders Equity | 122.37M | 123.19M | 112.89M | 105.17M | 99.59M | 101.47M |
Cash Flow | ||||||
| Free Cash Flow | 14.55M | 26.93M | 23.45M | 12.56M | 21.33M | -16.01M |
| Operating Cash Flow | 28.25M | 30.61M | 25.05M | 26.38M | 30.43M | -938.00K |
| Investing Cash Flow | -28.55M | -25.25M | -6.75M | -13.92M | -10.42M | -15.67M |
| Financing Cash Flow | 1.68M | 1.70M | -21.89M | -42.10M | -18.39M | -5.59M |
Toscana Aeroporti S.p.A. Technical Analysis
Positive
18.60
Price Trends
18.25
Positive
18.67
Negative
18.06
Positive
Market Momentum
0.04
Negative
54.62
Neutral
100.00
Negative
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 18.6 is above the 20-day moving average (MA) of 18.35, above the 50-day MA of 18.25, and above the 200-day MA of 18.06, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 54.62 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, 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
UnderperformOutperform
Sector (55)
IT:TYA
Toscana Aeroporti S.p.A.
18.50
1.90
11.45%
IT:ADB
Aeroporto Guglielmo Marconi di Bologna S.p.A.
8.94
0.84
10.32%
IT:ENAV
Enav SpA
5.21
1.35
34.97%
Toscana Aeroporti S.p.A. Corporate Events
Toscana Aeroporti grows traffic and revenue but widens Q1 loss amid investment push
May 11, 2026
Toscana Aeroporti reported preliminary first-quarter 2026 figures showing over 1.7 million passengers across Florence and Pisa airports, up 7.1% year on year, underscoring continued growth in the Tuscan airport system. Consolidated revenues rose 8...
Toscana Aeroporti Approves €7 Million Dividend for 2025
Apr 30, 2026
Toscana Aeroporti S.p.A. shareholders approved the distribution of a €0.376 dividend per each of the 18,611,966 outstanding shares for the 2025 financial year, for a total payout of €7 million. The dividend will be paid on 22 July 2026...
Toscana Aeroporti Approves Record 2025 Results and Confirms Dividend as Governance is Renewed
Apr 29, 2026
Toscana Aeroporti’s shareholders approved the 2025 financial statements, confirming record passenger traffic of 9.8 million, a 16.9% rise in consolidated revenue to €149.9 million, EBITDA of €45.9 million and net profit of €...
Toscana Aeroporti Publishes Slates for Renewal of Board of Statutory Auditors
Apr 8, 2026
Toscana Aeroporti has disclosed two slates of candidates for the upcoming renewal of its Board of Statutory Auditors, ahead of the ordinary shareholders’ meeting scheduled for 29 April 2026. One slate is backed by majority shareholder Corpor...
Toscana Aeroporti Publishes 2025 Annual Report and Governance Documents Ahead of April Shareholders’ Meeting
Apr 7, 2026
Toscana Aeroporti S.p.A., operator of the Florence Vespucci and Pisa Galilei airports, was formed through a 2015 merger that combined complementary traffic profiles to serve both business and leisure travelers, low-cost and full-service carriers, ...
Toscana Aeroporti Hits Record March Traffic as Tuscan Airports Top 700,000 Passengers
Apr 3, 2026
Toscana Aeroporti reported record March traffic for the Tuscan airport system, surpassing 700,000 monthly passengers for the first time and marking a 9.3% increase year on year, driven by strong international demand. The network handled 1.7 millio...
Toscana Aeroporti Publishes Documentation and Sets Proxy-Only Format for April Shareholders’ Meeting
Mar 20, 2026
Toscana Aeroporti S.p.A., operator of the Florence and Pisa airports, was created from the merger of the local airport management companies and leverages the complementary roles of the two hubs. Florence specializes in business and leisure connect...
Toscana Aeroporti Convenes 2026 Shareholders’ Meeting with Proxy-Only Participation
Mar 20, 2026
Toscana Aeroporti has called an ordinary shareholders’ meeting for 29 April 2026 at Florence Airport to approve the 2025 separate financial statements, review the consolidated results, and decide on the allocation of the annual profit. Share...
Toscana Aeroporti Hits Record Traffic and Ramps Up Investment in 2025
Mar 10, 2026
Toscana Aeroporti reported a historic year in 2025, with the Tuscan Airport System handling 9.8 million passengers, up 8.4% and well above the Italian market average, driven by record volumes at both Pisa and Florence. Operating revenues rose 6.4%...
Toscana Aeroporti Sets Record February as International Traffic Powers Growth
Mar 6, 2026
Toscana Aeroporti reported its best-ever February, handling 543,000 passengers across Florence and Pisa, up 7.3% year-on-year, driven by a 10.5% rise in international traffic that offset weaker domestic demand. The system surpassed one million pas...
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.