Aena S.M.E., S.A.

BME:AENA Stock Report

Market Cap: €36.5b

Aena S.M.E Management

Management criteria checks 4/4

We currently do not have sufficient information about the CEO.

Key information

Maurici Lucena Betriu

Chief executive officer

€196.0k

Total compensation

CEO salary percentage92.86%
CEO tenure7.8yrs
CEO ownershipn/a
Management average tenure4yrs
Board average tenure5yrs

Recent management updates

Recent updates

Narrative Update • May 06

AENA: Recent Rating Downgrades Will Limit Future Repricing Potential

Analysts have nudged their fair value estimate for Aena S.M.E. slightly higher to €20.11, reflecting a modestly lower discount rate and small tweaks to long term growth and margin assumptions after a series of mixed rating changes and price target revisions in recent research. Analyst Commentary Recent research on Aena S.M.E. reflects a mixed backdrop, with some firms becoming more constructive while several bearish analysts are reining in expectations through rating changes and price target adjustments.
Narrative Update • Apr 20

AENA: Higher Fair Value And Dividend Outlook Will Support Future Upside

Analysts have raised the price target on Aena S.M.E. to €31.50 from €28.90, reflecting updated assumptions around growth, profitability and valuation following a series of recent upgrades and target increases from major firms. Analyst Commentary Recent research coverage around Aena S.M.E. has centered on a series of price target revisions and rating changes, giving you a clearer sense of how expectations are being reset.
Narrative Update • Apr 06

AENA: Neutral Ratings And Execution Risks Will Constrain Future Repricing Potential

Analysts have nudged their fair value estimate for Aena S.M.E. to €20.10 from €20.00. This reflects a series of recent price target increases from firms such as Citi, Deutsche Bank, Morgan Stanley and others, who cite updated views on revenue growth, profitability and P/E assumptions.
Narrative Update • Mar 23

AENA: Balanced Rating Shifts Will Shape Future Execution And Cash Flow Risk

The analyst price target for Aena S.M.E. has been revised slightly higher to €26.23 from €25.76, reflecting recent target increases from several banks and a modest adjustment in assumptions for revenue growth, discount rate, profit margin and future P/E. Analyst Commentary Recent research updates on Aena S.M.E. show a mix of optimism and caution, with several firms adjusting price targets and ratings in different directions.
Narrative Update • Mar 09

AENA: Higher Traffic Sensitivity Will Pressure Returns As Neutral Ratings Gain Traction

The analyst price target for Aena S.M.E. has shifted to €20.00, reflecting mixed recent views as some analysts raised their targets into the high €20s, while others moved to more neutral stances based on updated assumptions for growth, margins, and future P/E levels. Analyst Commentary Recent research on Aena S.M.E. has been mixed, with some firms adjusting price targets higher and others taking a more cautious stance on the shares.
Narrative Update • Feb 22

AENA: Mixed Rating Shifts Will Shape Future Risk Reward Balance

Analysts have raised their fair value estimate for Aena S.M.E. to €25.76, up from €24.24. They cite recent increases in Street price targets, along with changes in the discount rate, revenue growth assumptions and expected future P/E multiples, even though opinions on the shares have become more mixed.
Narrative Update • Feb 08

AENA: Higher Traffic Sensitivity Will Pressure Returns Despite Recent Upgrade

Analysts have nudged their fair value estimate for Aena S.M.E. higher, reflecting slightly stronger revenue and margin assumptions and taking into account recent price target increases from firms such as Deutsche Bank and Morgan Stanley. Analyst Commentary Recent research commentary around Aena S.M.E. has centered on valuation, revenue assumptions and margin sustainability, with several firms adjusting their price targets and ratings.
Analysis Article • Jan 26

Some Shareholders Feeling Restless Over Aena S.M.E., S.A.'s (BME:AENA) P/E Ratio

There wouldn't be many who think Aena S.M.E., S.A.'s ( BME:AENA ) price-to-earnings (or "P/E") ratio of 18.5x is worth...
Narrative Update • Jan 24

AENA: Higher P/E Assumptions Will Strain Returns If 3.4% Traffic Lags

Analysts have lifted their price targets on Aena S.M.E., with recent research pointing to a slightly higher fair value of €19.63, supported by updated assumptions for revenue growth, profit margins and future P/E. This is reflected in the latest target increases from €27.70 to €28.30, and by a further €2.50 in separate Street updates.
Narrative Update • Jan 10

AENA: Higher P/E Expectations Will Pressure Returns If Traffic Disappoints

Analysts have slightly lifted their price target on Aena S.M.E. to €28.30 from €27.70, citing updated assumptions on the discount rate, growth, margins, and future P/E that they see as better aligned with current conditions. Analyst Commentary While the latest target of €28.30 reflects updated assumptions on valuation inputs such as discount rate, growth, margins, and future P/E, not all commentary around the stock is outright bullish.
Narrative Update • Dec 26

AENA: Lower Risk Profile And Confirmed Traffic Outlook Will Support Upside

Analysts have nudged their price target for Aena S.M.E. higher, lifting fair value by approximately EUR 0.90 per share as they factor in a lower perceived risk profile, slightly stronger long term revenue growth, and marginally improved valuation multiples despite a modestly softer profit margin outlook. What's in the News Aena S.M.E., S.A. confirmed its 2025 full year traffic guidance and reiterated expectations for 3.4% year on year passenger growth (company guidance).
Analysis Article • Dec 25

Aena S.M.E (BME:AENA) Shareholders Will Want The ROCE Trajectory To Continue

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Narrative Update • Dec 12

AENA: Prolonged Capex Cycle Will Pressure Future Free Cash Flow

Analysts have trimmed their price target on Aena S.M.E., S.A., nudging fair value modestly higher to about EUR 18.86 from roughly EUR 18.29, as they factor in a prolonged capex cycle and weaker free cash flow yields under the DORA III regulatory period. Analyst Commentary Bearish analysts have highlighted a more challenging risk reward profile for Aena S.M.E., pointing to a combination of elevated investment needs and softer free cash flow dynamics over the DORA III period.
Analysis Article • Dec 11

What Is Aena S.M.E., S.A.'s (BME:AENA) Share Price Doing?

Today we're going to take a look at the well-established Aena S.M.E., S.A. ( BME:AENA ). The company's stock received a...
Analysis Article • Nov 14

Here's Why We Think Aena S.M.E (BME:AENA) Might Deserve Your Attention Today

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Analysis Article • Nov 01

Aena S.M.E., S.A. Just Recorded A 879% EPS Beat: Here's What Analysts Are Forecasting Next

Aena S.M.E., S.A. ( BME:AENA ) just released its latest third-quarter results and things are looking bullish. It was...
Narrative Update • Sep 20

Terminal Expansions And Global Growth Will Fuel Future Success

Aena S.M.E’s consensus revenue growth forecast has edged up from 4.0% to 4.1%, supporting a marginal increase in the consensus analyst price target from €24.00 to €24.24. Valuation Changes Summary of Valuation Changes for Aena S.M.E The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from €24.00 to €24.24.
Narrative Update • Sep 04

Terminal Expansions And Global Growth Will Fuel Future Success

With Consensus Revenue Growth and Discount Rate assumptions both unchanged, analysts left their fair value estimate for Aena S.M.E steady at €24.00 per share. Valuation Changes Summary of Valuation Changes for Aena S.M.E The Consensus Analyst Price Target remained effectively unchanged, at €24.00.
Analysis Article • Aug 28

Is Aena S.M.E (BME:AENA) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Aug 15

Here's Why We Think Aena S.M.E (BME:AENA) Is Well Worth Watching

BME:AENA 1 Year Share Price vs Fair Value Explore Aena S.M.E's Fair Values from the Community and select yours...
Analysis Article • Jul 09

Aena S.M.E., S.A.'s (BME:AENA) Price Is Out Of Tune With Earnings

There wouldn't be many who think Aena S.M.E., S.A.'s ( BME:AENA ) price-to-earnings (or "P/E") ratio of 17.4x is worth...
Analysis Article • Jun 26

What Does Aena S.M.E., S.A.'s (BME:AENA) Share Price Indicate?

Let's talk about the popular Aena S.M.E., S.A. ( BME:AENA ). The company's shares saw a double-digit share price rise...
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New Narrative • Nov 07

International Passenger Boom And Critical Leases Propel Aviation Growth

Strong international passenger growth from North and South America will enhance commercial and aeronautical earnings.

CEO Compensation Analysis

How has Maurici Lucena Betriu's remuneration changed compared to Aena S.M.E's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

€2b

Dec 31 2025€196k€182k

€2b

Sep 30 2025n/an/a

€2b

Jun 30 2025n/an/a

€2b

Mar 31 2025n/an/a

€2b

Dec 31 2024€192k€177k

€2b

Sep 30 2024n/an/a

€2b

Jun 30 2024n/an/a

€2b

Mar 31 2024n/an/a

€2b

Dec 31 2023€187k€172k

€2b

Sep 30 2023n/an/a

€1b

Jun 30 2023n/an/a

€1b

Mar 31 2023n/an/a

€1b

Dec 31 2022€181k€167k

€901m

Sep 30 2022n/an/a

€261m

Jun 30 2022n/an/a

€148m

Mar 31 2022n/an/a

-€276m

Dec 31 2021€177kn/a

-€475m

Compensation vs Market: Maurici's total compensation ($USD228.20K) is below average for companies of similar size in the Spanish market ($USD3.32M).

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

CEO

Maurici Lucena Betriu (50 yo)

7.8yrs
Tenure
€196,000
Compensation

Mr. Maurici Lucena Betriu has been the Chairman, Chief Executive Officer and Director of Aena S.M.E. S.A. (formerly known as Aena, S.A.) since July 16, 2018. Mr. Betriu served as Managing Director of Centr...

Leadership Team

NamePositionTenureCompensationOwnership
Maurici Lucena Betriu
Chairman & CEO7.8yrs€196.00kno data
Francisco Marin San Andres
Airport Operations Director & Second Deputy Chairman5.6yrs€215.00kno data
Ignacio Hernandez
Chief Financial Officerno datano datano data
Pablo Ortiz
Deputy Secretary of the Board of Directors and Director of Legal Affairs & Regulatory Compliance3.8yrsno datano data
Maria Gomez Rodriguez
Director of Communicationsno datano datano data
Begona Gosalvez Mayordomo
Director of Organization & Peopleno datano datano data
Emilio Rotondo
Deputy Chief Financial Officerno datano datano data
Amparo Alvarez
Director of Innovationno datano datano data
Maria Jose Chamorro
MD of Commercial & Real Estate7.2yrsno datano data
Elena Corcuera
Managing Director of Airports3.3yrsno datano data
Elena Centeno
Secretary of the Board & General Secretary4yrsno datano data
4.0yrs
Average Tenure

Experienced Management: AENA's management team is considered experienced (4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Maurici Lucena Betriu
Chairman & CEO7.8yrs€196.00kno data
Francisco Marin San Andres
Airport Operations Director & Second Deputy Chairman5.6yrs€215.00kno data
Tomas Muina
Independent Director3.5yrs€37.00kno data
Jaime Terceiro Lomba
Lead Independent Director & First Independent Deputy Chairman10.9yrs€36.00kno data
Amancio Lopez Seijas
Independent Director10.9yrs€37.00kno data
Leticia Iglesias Herraiz
Independent Director7.1yrs€37.00kno data
Juan Cortes
Independent Director5.4yrs€37.00kno data
Manuel Crespo
Proprietary Director4.6yrs€12.00kno data
Madel Coriseo Revilla
Independent Director4.2yrs€37.00kno data
Maria Carmen Corral Escribano
Proprietary director3.1yrs€12.00kno data
Ainhoa Quintano
Nominee Director2.3yrs€12.00kno data
Beatriz Pinilla
Nominee Director2.3yrs€12.00kno data
5.0yrs
Average Tenure
65yo
Average Age

Experienced Board: AENA's board of directors are considered experienced (5 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/26 17:50
End of Day Share Price 2026/05/26 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Aena S.M.E., S.A. is covered by 41 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBanco de Sabadell. S.A.
José ArroyasBanco Santander
Andrew LobbenbergBarclays