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

• Market Cap: €299.65M
• Dividend Yield: 4.67%
• Average Volume (3M): 359.00
• Price to Earnings (P/E): 17.7
• Beta (1Y): 0.11
• Revenue Growth: 7.88%
• EPS Growth: 23.11%
• Country: IT
• Employees: 397
• Sector: Industrials
• Sector Strength: 89
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -0.05
• Shares Outstanding: 18,611,965
• 10 Day Avg. Volume: 371
• 30 Day Avg. Volume: 359
• PEG Ratio: 1.07
• Price to Book (P/B): 2.67
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 13.54
• 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: N/A
• Number of Analyst Covering: 0

• Rating: 73 Outperform
• Price Target: €18.00 ▲(11.80%Upside)

Toscana Aeroporti S.p.A. receives a solid score due to its strong financial performance and effective cost management. However, technical indicators reveal weak momentum, and the valuation suggests the stock is fairly priced without significant upside potential.

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 S.p.A. generates revenue primarily through a combination of aeronautical and non-aeronautical services. Aeronautical revenues come from charges levied on airlines for the use of airport infrastructure, including landing and take-off fees, passenger service charges, and aircraft parking fees. Non-aeronautical revenues are derived from retail concessions, parking facilities, advertising, and rental income from commercial spaces within the airport. The company also benefits from strategic partnerships with airlines and retail operators, boosting both passenger traffic and commercial activity. Toscana Aeroporti's financial performance is influenced by factors such as passenger growth, flight volume, and the overall economic environment impacting air travel demand.

Toscana Aeroporti S.p.A. Financial Statement Overview

Summary

Toscana Aeroporti S.p.A. demonstrates strong financial recovery post-pandemic with robust revenue growth and profitability margins. The balance sheet is stable, though rising debt levels require careful management. Cash flow improvements highlight effective operational cash generation, supporting future investments.

Income Statement

Toscana Aeroporti S.p.A. has demonstrated strong revenue growth with a 37% increase from 2022 to 2023. The company has improved its profitability metrics, with a gross profit margin of 27% and a net profit margin of 13.8% in 2023. EBIT and EBITDA margins are also robust, indicating effective cost control and operational efficiency. However, there was a decline in gross profit margin from the previous year, suggesting some pressure on cost control.

Balance Sheet

The balance sheet shows a stable financial position with a debt-to-equity ratio of 0.81 as of 2023, reflecting a balanced approach to leveraging. The equity ratio of 34.6% indicates a solid equity base, although it has decreased slightly over the years. Return on equity is a healthy 12%, showing effective utilization of shareholder funds. However, the company's debt levels have increased over the years, which could pose a risk if not managed carefully.

Cash Flow

The company's cash flow generation is strong, with a significant increase in free cash flow by 86.6% from 2022 to 2023. The operating cash flow to net income ratio of 1.47 indicates robust cash generation relative to net income. The free cash flow to net income ratio also suggests effective cash management. However, fluctuations in capital expenditures and investing cash flows highlight the need for careful investment planning.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	124.14M	123.26M	90.41M	66.62M	65.58M
Gross Profit	33.55M	38.91M	17.28M	-14.55M	-494.00K
EBITDA	42.03M	36.27M	16.82M	667.00K	-4.86M
Net Income	17.10M	12.63M	4.67M	-4.86M	-12.60M
Balance Sheet
Total Assets	296.15M	303.86M	322.94M	332.04M	331.94M
Cash, Cash Equivalents and Short-Term Investments	22.80M	26.54M	56.07M	54.15M	76.34M
Total Debt	91.04M	104.69M	139.04M	149.47M	153.67M
Total Liabilities	182.32M	197.36M	222.19M	229.41M	225.17M
Stockholders Equity	112.89M	105.17M	99.59M	101.47M	106.55M
Cash Flow
Free Cash Flow	23.45M	12.56M	21.33M	-16.01M	-43.74M
Operating Cash Flow	25.05M	26.38M	30.43M	-938.00K	-31.79M
Investing Cash Flow	-6.75M	-13.92M	-10.42M	-15.67M	-11.99M
Financing Cash Flow	-21.89M	-42.10M	-18.39M	-5.59M	100.26M

Toscana Aeroporti S.p.A. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 16.10
• 50DMA: Negative
• 100DMA: Negative
• 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 Neutral. The current price of 16.1 is below the 20-day moving average (MA) of 16.31, below the 50-day MA of 16.45, and above the 200-day MA of 15.21, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 46.01 is Neutral, neither overbought nor oversold. The STOCH value of 30.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	€299.65M	17.73		4.67%	7.88%	23.11%
Sector *	71 Outperform	¥255.75B	13.62	8.48%	4.48%	6.34%	13.16%
ENV	―	€2.14B	16.98	10.29%	6.85%	―	―
8WD	―	€304.83M	18.78	23.79%	2.13%	―	―
AUTME	―	€11.33M	33.64		249.65%	―	―
RWY	―	€343.74M	19.46		―	―	―
SBC	―	€123.91M	41.18		2.61%	―	―

Toscana Aeroporti S.p.A. Corporate Events

Toscana Aeroporti S.p.A. Achieves Record Passenger Growth in June 2025

In June 2025, Toscana Aeroporti S.p.A. achieved a milestone by exceeding one million passengers for the first time, with a 7.1% increase compared to June 2024. The Florence and Pisa airports both recorded their best June ever, with Florence seeing a 9.4% growth in passengers and Pisa a 5.7% increase. This growth highlights the company’s strong positioning in the aviation industry and its role in boosting regional economic development.

Toscana Aeroporti Achieves Record Passenger Growth in May 2025

Toscana Aeroporti S.p.A. reported a record-breaking month in May 2025, with over 981 thousand passengers, marking a 10.2% increase from the previous year. Both Florence and Pisa airports experienced significant growth, with Florence seeing a 10.3% rise in passengers and Pisa a 10.1% increase. This growth underscores the company’s strong positioning in the industry and its role in regional economic development.

Dissolution of Shareholders’ Agreement for Corporación America Italia

The shareholders’ agreement between Dicasa Spain S.A.U. and Mataar Holdings 2 B.V. concerning Corporación America Italia S.p.A., the controlling company of Toscana Aeroporti, has been dissolved. This dissolution follows the transfer of Mataar’s entire stake in CAI to Dicasa, resulting in Dicasa holding 100% of CAI’s share capital, which may impact the company’s governance and strategic direction.

Toscana Aeroporti Releases Shareholders’ Meeting Minutes

Toscana Aeroporti S.p.A. announced the availability of the minutes from its Ordinary Shareholders’ Meeting held on April 29, 2025. This announcement underscores the company’s commitment to transparency and governance, providing stakeholders with insights into its operational decisions and strategic direction.

Toscana Aeroporti Reports Strong Q1 2025 Growth

Toscana Aeroporti S.p.A. reported a significant increase in passenger traffic and revenues for the first quarter of 2025, with over 1.6 million passengers and a 23.5% rise in revenues. Despite a negative group result due to seasonal factors, the company remains optimistic about future quarters, supported by increased investments in strategic projects like the Pisa terminal expansion and the Florence Master Plan. The company’s strong performance in passenger and cargo traffic positions it well for continued growth, with positive prospects for the summer season.

Toscana Aeroporti Achieves Record Passenger Growth in April

Toscana Aeroporti reported a record-breaking April with over 900,000 passengers, marking an 11.1% increase from 2024. Both Florence and Pisa airports saw significant growth, with Florence reaching over 1 million passengers in the first four months and Pisa surpassing 500,000 passengers in April alone. This growth underscores the company’s strong positioning in the aviation industry and its role in boosting regional economic development.

Toscana Aeroporti Adjusts 2025 Corporate Events Calendar

Toscana Aeroporti S.p.A. has announced a change in its 2025 corporate events calendar, rescheduling the Board of Directors meeting for the approval of the interim management report to May 14, 2025, a day later than previously planned. This adjustment in the schedule is part of the company’s ongoing efforts to manage its operations effectively, reflecting its commitment to transparency and timely communication with stakeholders.

Toscana Aeroporti Announces 2024 Dividend Distribution

Toscana Aeroporti S.p.A. has announced that its Ordinary Shareholders’ Meeting approved a dividend distribution of 0.376 euros per share for the 2024 financial year, totaling 7 million euros. This decision reflects the company’s commitment to returning value to its shareholders and may influence investor perceptions positively.

Toscana Aeroporti Approves 2024 Financials and Dividend

Toscana Aeroporti S.p.A. held its Ordinary Shareholders’ Meeting, approving the financial statements for 2024, with significant growth in passenger numbers and revenues. A dividend of 0.376 euros per share was announced, and Marcella Panucci’s appointment to the Board of Directors was confirmed, reflecting the company’s robust financial health and strategic leadership continuity.