Toscana Aeroporti S.p.A. (IT:TYA)
:TYA
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Toscana Aeroporti S.p.A.
(TYA)
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Rating:65Neutral
Price Target:
€19.50
▲(4.84% Upside)
Action:DowngradedDate:03/23/26
The score is primarily supported by improved profitability and strong cash flow generation, alongside an attractive P/E and dividend yield. These positives are tempered by a weaker technical setup (below key moving averages with negative MACD) and the notable 2025 revenue decline, which adds uncertainty to earnings durability.
Positive Factors
Strong cash generation and free cash flow
Consistent positive operating cash flow and FCF (with a ~131% FCF step-up in 2025 and FCF ≈ 94% of net income in 2024) indicate durable cash conversion. This supports capex, debt servicing, and distributions, improving resilience to demand cycles and funding flexibility over months.
Negative Factors
2025 revenue decline
A nearly 10% revenue drop in 2025 signals demand normalization or structural traffic pressure. Persistent or recurring top-line declines can erode margins, reduce concession and aviation fee income, and limit the company's ability to sustain investments and debt reduction over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and free cash flow
Consistent positive operating cash flow and FCF (with a ~131% FCF step-up in 2025 and FCF ≈ 94% of net income in 2024) indicate durable cash conversion. This supports capex, debt servicing, and distributions, improving resilience to demand cycles and funding flexibility over months.
Read all positive factors
Toscana Aeroporti S.p.A. (TYA) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€338.74M
Dividend Yield1.96%
Average Volume (3M)3.29K
Price to Earnings (P/E)21.6
Beta (1Y)0.12
Revenue Growth14.30%
EPS Growth23.70%
CountryIT
Employees397
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.12
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 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 managem...
Toscana Aeroporti S.p.A. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
63
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 142.40M | 124.14M | 123.26M | 90.41M | 46.89M |
| Gross Profit | 29.60M | 63.70M | 38.91M | 19.22M | -1.28M |
| EBITDA | 43.05M | 42.03M | 36.27M | 17.34M | 667.00K |
| Net Income | 16.10M | 17.10M | 12.63M | 4.67M | -5.26M |
Balance Sheet | |||||
| Total Assets | 325.01M | 296.15M | 303.86M | 322.94M | 332.04M |
| Cash, Cash Equivalents and Short-Term Investments | 29.61M | 22.80M | 26.54M | 56.07M | 54.15M |
| Total Debt | 101.09M | 91.04M | 104.69M | 139.04M | 149.47M |
| Total Liabilities | 201.09M | 182.32M | 197.36M | 222.19M | 229.41M |
| Stockholders Equity | 123.19M | 112.89M | 105.17M | 99.59M | 101.47M |
Cash Flow | |||||
| Free Cash Flow | 26.93M | 23.45M | 12.56M | 21.33M | -16.01M |
| Operating Cash Flow | 30.61M | 25.05M | 26.38M | 30.43M | -938.00K |
| Investing Cash Flow | -25.25M | -6.75M | -13.92M | -10.42M | -15.67M |
| Financing Cash Flow | 1.70M | -21.89M | -42.10M | -18.39M | -5.59M |
Toscana Aeroporti S.p.A. Technical Analysis
Positive
18.60
Price Trends
18.76
Negative
18.80
Negative
17.77
Positive
Market Momentum
-0.18
Negative
53.49
Neutral
50.00
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 18.6 is above the 20-day moving average (MA) of 18.13, below the 50-day MA of 18.76, and above the 200-day MA of 17.77, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 53.49 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 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
UnderperformOutperform
Sector (63)
IT:TYA
Toscana Aeroporti S.p.A.
18.20
2.26
14.16%
IT:ENAV
Enav SpA
5.43
2.20
68.06%
IT:AUTME
Autostrade Meridionali S.p.A.
2.80
-0.03
-1.06%
IT:RWY
Reway Group SpA
10.20
3.02
42.06%
IT:SBC
Sicily By Car S.P.A.
3.03
-0.34
-10.09%
Toscana Aeroporti S.p.A. Corporate Events
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...
Toscana Aeroporti Sets Record January as International Traffic Powers Growth
Feb 6, 2026
Toscana Aeroporti S.p.A., which manages the complementary Florence and Pisa airports and plays a central role in Tuscany’s tourism and business connectivity, has built its network around full-service European hub connections from Florence an...
Toscana Aeroporti Brings Forward Board Meeting for 2025 Accounts to 10 March 2026
Feb 3, 2026
Toscana Aeroporti has brought forward the Board of Directors meeting to approve the 2025 draft financial statements and convene the related shareholders’ meeting, rescheduling it from 12 March to 10 March 2026 and updating its 2026 corporate...
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.