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SYD

Sydney AirportASX:SYD Stock Report

Market Cap

AU$22.2b

7D

-0.7%

1Y

42.6%

Updated

23 Sep, 2021

Data

Company Financials +
SYD fundamental analysis
Snowflake Score
Valuation0/6
Future Growth6/6
Past Performance0/6
Financial Health1/6
Dividends0/6

SYD Overview

Sydney Airport Limited owns Sydney Airport.

Sydney Airport Competitors

Flughafen Zürich

SWX:FHZN

CHF5.1b

Price History & Performance

Summary of all time highs, changes and price drops for Sydney Airport
Historical stock prices
Current Share PriceAU$8.24
52 Week HighAU$5.45
52 Week LowAU$8.41
Beta1.01
1 Month Change6.32%
3 Month Change40.61%
1 Year Change42.56%
3 Year Change19.59%
5 Year Change18.22%
Change since IPO538.76%

Recent News & Updates

Jun 24
Sydney Airport (ASX:SYD) Takes On Some Risk With Its Use Of Debt

Sydney Airport (ASX:SYD) Takes On Some Risk With Its Use Of Debt

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Shareholder Returns

SYDAU InfrastructureAU Market
7D-0.7%1.1%-2.3%
1Y42.6%12.0%25.4%

Return vs Industry: SYD exceeded the Australian Infrastructure industry which returned 12% over the past year.

Return vs Market: SYD exceeded the Australian Market which returned 25.4% over the past year.

Price Volatility

Is SYD's price volatile compared to industry and market?
SYD volatility
SYD Beta1.01
Industry Beta0.71
Market Beta1

Stable Share Price: SYD is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: SYD's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1919418Geoff Culberthttps://www.sydneyairport.com.au

Sydney Airport Limited owns Sydney Airport. The company provides international and domestic passenger services. It also offers aeronautical services, including access to terminals, infrastructure, apron parking, and airfield and terminal facilities, as well as government mandated security services for airlines; and parking and ground transport services, as well as leases commercial space to tenants whose activities comprise duty free, food and beverage, financial, and advertising services.

Sydney Airport Fundamentals Summary

How do Sydney Airport's earnings and revenue compare to its market cap?
SYD fundamental statistics
Market CapAU$22.24b
Earnings (TTM)-AU$202.50m
Revenue (TTM)AU$643.70m

34.5x

P/S Ratio

-109.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SYD income statement (TTM)
RevenueAU$643.70m
Cost of RevenueAU$150.80m
Gross ProfitAU$492.90m
ExpensesAU$695.40m
Earnings-AU$202.50m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.077
Gross Margin76.57%
Net Profit Margin-31.46%
Debt/Equity Ratio808.7%

How did SYD perform over the long term?

See historical performance and comparison

Valuation

Is Sydney Airport undervalued compared to its fair value and its price relative to the market?

17.5x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: SYD (A$8.24) is trading above our estimate of fair value (A$5.18)

Significantly Below Fair Value: SYD is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SYD is unprofitable, so we can't compare its PE Ratio to the Oceanic Infrastructure industry average.

PE vs Market: SYD is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SYD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SYD is overvalued based on its PB Ratio (17.5x) compared to the AU Infrastructure industry average (1.9x).


Future Growth

How is Sydney Airport forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

72.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SYD is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: SYD is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SYD's is expected to become profitable in the next 3 years.

Revenue vs Market: SYD's revenue (31.4% per year) is forecast to grow faster than the Australian market (5.3% per year).

High Growth Revenue: SYD's revenue (31.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SYD's Return on Equity is forecast to be very high in 3 years time (60.5%).


Past Performance

How has Sydney Airport performed over the past 5 years?

-28.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SYD is currently unprofitable.

Growing Profit Margin: SYD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SYD is unprofitable, and losses have increased over the past 5 years at a rate of 28.5% per year.

Accelerating Growth: Unable to compare SYD's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SYD is unprofitable, making it difficult to compare its past year earnings growth to the Infrastructure industry (22.2%).


Return on Equity

High ROE: SYD has a negative Return on Equity (-13.48%), as it is currently unprofitable.


Financial Health

How is Sydney Airport's financial position?


Financial Position Analysis

Short Term Liabilities: SYD's short term assets (A$913.3M) exceed its short term liabilities (A$413.5M).

Long Term Liabilities: SYD's short term assets (A$913.3M) do not cover its long term liabilities (A$10.5B).


Debt to Equity History and Analysis

Debt Level: SYD's debt to equity ratio (808.7%) is considered high.

Reducing Debt: SYD's debt to equity ratio has increased from 793.8% to 808.7% over the past 5 years.

Debt Coverage: SYD's debt is not well covered by operating cash flow (3.3%).

Interest Coverage: Insufficient data to determine if SYD's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is Sydney Airport current dividend yield, its reliability and sustainability?

2.21%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SYD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SYD's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SYD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SYD's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: SYD is not paying a notable dividend for the Australian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SYD's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Geoff Culbert (52 yo)

3.67yrs

Tenure

AU$1,657,139

Compensation

Mr. Geoffrey Culbert, BComm, LLB (Hons), also known as Geoff, is Chief Executive Officer at Sydney Airport Limited, Sydney Airport Finance Company Pty Ltd and Southern Cross Airports Corporation Holdings L...


CEO Compensation Analysis

Compensation vs Market: Geoff's total compensation ($USD1.20M) is below average for companies of similar size in the Australian market ($USD3.51M).

Compensation vs Earnings: Geoff's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SYD's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: SYD's board of directors are considered experienced (6.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Sydney Airport Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Sydney Airport Limited
  • Ticker: SYD
  • Exchange: ASX
  • Founded: 1919
  • Industry: Airport Services
  • Sector: Transportation
  • Market Cap: AU$22.237b
  • Shares outstanding: 2.70b
  • Website: https://www.sydneyairport.com.au

Number of Employees


Location

  • Sydney Airport Limited
  • The Nigel Love Building
  • 10 Arrivals Court
  • Sydney
  • New South Wales
  • 2020
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/23 15:55
End of Day Share Price2021/09/23 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.