Aena S.M.E
Market Cap
€19.8b
Last Updated
2021/01/22 01:30 UTC
Data Sources
Company Financials +
Executive Summary
Aena S.M.E., S.A., together with its subsidiaries, operates, maintains, manages, and administers airport infrastructures and heliports in Spain, the United Kingdom, Mexico, Colombia, Cuba, and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential with mediocre balance sheet.
Similar Companies
Share Price & News
How has Aena S.M.E's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AENA is not significantly more volatile than the rest of Spanish stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: AENA's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
-6.4%
AENA
-3.5%
ES Infrastructure
-1.1%
ES Market
1 Year Return
-21.5%
AENA
-23.5%
ES Infrastructure
-12.3%
ES Market
Return vs Industry: AENA exceeded the Spanish Infrastructure industry which returned -23.5% over the past year.
Return vs Market: AENA underperformed the Spanish Market which returned -12.3% over the past year.
Shareholder returns
| AENA | Industry | Market | |
|---|---|---|---|
| 7 Day | -6.4% | -3.5% | -1.1% |
| 30 Day | -4.8% | -1.6% | 1.0% |
| 90 Day | 5.4% | 8.7% | 15.7% |
| 1 Year | -21.5%-21.5% | -23.1%-23.5% | -9.8%-12.3% |
| 3 Year | -20.0%-25.0% | -24.9%-30.1% | -10.5%-18.7% |
| 5 Year | 43.4%29.3% | 19.2%5.0% | 12.4%-4.7% |
Long-Term Price Volatility Vs. Market
How volatile is Aena S.M.E's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Is Aena S.M.E., S.A. (BME:AENA) Popular Amongst Institutions?3 weeks ago | Simply Wall St
Is It Time To Consider Buying Aena S.M.E., S.A. (BME:AENA)?1 month ago | Simply Wall St
Did You Miss Aena S.M.E's (BME:AENA) 33% Share Price Gain?Valuation
Is Aena S.M.E undervalued compared to its fair value and its price relative to the market?
89.85x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AENA (€132.2) is trading above our estimate of fair value (€108.25)
Significantly Below Fair Value: AENA is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AENA is poor value based on its PE Ratio (89.8x) compared to the XE Infrastructure industry average (18.8x).
PE vs Market: AENA is poor value based on its PE Ratio (89.8x) compared to the Spanish market (21.4x).
Price to Earnings Growth Ratio
PEG Ratio: AENA is poor value based on its PEG Ratio (1.9x)
Price to Book Ratio
PB vs Industry: AENA is overvalued based on its PB Ratio (3.2x) compared to the XE Infrastructure industry average (1.7x).
Next Steps
Future Growth
How is Aena S.M.E forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?
46.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AENA's forecast earnings growth (46.1% per year) is above the savings rate (1.1%).
Earnings vs Market: AENA's earnings (46.1% per year) are forecast to grow faster than the Spanish market (33.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AENA's revenue (16.7% per year) is forecast to grow faster than the Spanish market (6.1% per year).
High Growth Revenue: AENA's revenue (16.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AENA's Return on Equity is forecast to be low in 3 years time (17.2%).
Next Steps
Past Performance
How has Aena S.M.E performed over the past 5 years?
1.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AENA has a large one-off loss of €121.4M impacting its September 30 2020 financial results.
Growing Profit Margin: AENA's current net profit margins (8%) are lower than last year (32.2%).
Past Earnings Growth Analysis
Earnings Trend: AENA's earnings have grown by 1.8% per year over the past 5 years.
Accelerating Growth: AENA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AENA had negative earnings growth (-84.5%) over the past year, making it difficult to compare to the Infrastructure industry average (-49.4%).
Return on Equity
High ROE: AENA's Return on Equity (3.2%) is considered low.
Next Steps
Financial Health
How is Aena S.M.E's financial position?
Financial Position Analysis
Short Term Liabilities: AENA's short term assets (€2.4B) exceed its short term liabilities (€2.3B).
Long Term Liabilities: AENA's short term assets (€2.4B) do not cover its long term liabilities (€7.6B).
Debt to Equity History and Analysis
Debt Level: AENA's debt to equity ratio (140.8%) is considered high.
Reducing Debt: AENA's debt to equity ratio has reduced from 249.7% to 140.8% over the past 5 years.
Debt Coverage: AENA's debt is not well covered by operating cash flow (6.1%).
Interest Coverage: AENA's interest payments on its debt are well covered by EBIT (3.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Aena S.M.E current dividend yield, its reliability and sustainability?
5.73%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AENA's dividend (5.73%) is higher than the bottom 25% of dividend payers in the Spanish market (2.19%).
High Dividend: AENA's dividend (5.73%) is low compared to the top 25% of dividend payers in the Spanish market (6.99%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, AENA has been paying a dividend for less than 10 years.
Growing Dividend: AENA's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (515.2%), AENA's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AENA's dividends in 3 years are forecast to be covered by earnings (71.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.0yrs
Average management tenure
CEO
Maurici Lucena Betriu (45 yo)
2.5yrs
Tenure
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 Cent...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.5yrs | no data | no data | |
| Economic & Financial Director and CFO | 5.5yrs | no data | no data | |
| MD of Airports | 0.25yr | no data | no data | |
| Director of Legal Advisory & Equity Management Services | no data | no data | no data | |
| Director of Communications | no data | no data | no data | |
| Organization & Human Resources Director | no data | no data | no data | |
| Head of Internal Auditing | no data | no data | no data | |
| Deputy Chief Financial Officer | no data | no data | no data | |
| Head of General Unregulated Business | no data | no data | no data | |
| Secretary of the Board of Directors & General Secretary | 3yrs | no data | no data | |
| Deputy Chief Financial Officer | no data | no data | no data |
3.0yrs
Average Tenure
52.5yo
Average Age
Experienced Management: AENA's management team is considered experienced (3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 2.5yrs | no data | no data | |
| MD of Airports | 0.25yr | no data | no data | |
| Independent Director | 5.58yrs | €8.00k | no data | |
| Independent Director | 5.58yrs | €6.00k | no data | |
| Proprietary Director | 8.17yrs | €12.00k | no data | |
| Proprietary Director | 2.5yrs | no data | no data | |
| Proprietary Director | 6yrs | no data | no data | |
| Proprietary Director | 3yrs | no data | no data | |
| Independent Director | 1.75yrs | no data | no data | |
| Independent Director | 2yrs | no data | 0.000020% € 4.0k | |
| Proprietary Director | 2.5yrs | no data | no data | |
| Proprietary Director | 2.25yrs | no data | no data |
2.5yrs
Average Tenure
61yo
Average Age
Experienced Board: AENA's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.
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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Aena S.M.E., S.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Aena S.M.E., S.A.
- Ticker: AENA
- Exchange: BME
- Founded: 2010
- Industry: Airport Services
- Sector: Transportation
- Market Cap: €19.830b
- Shares outstanding: 150.00m
- Website: https://www.aena.es
Number of Employees
Location
- Aena S.M.E., S.A.
- C/ Peonías, 12
- 6ª Planta
- Madrid
- Madrid
- 28042
- Spain
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AENA | BME (Bolsas y Mercados Espanoles) | Yes | Ordinary Shares | ES | EUR | Feb 2015 |
| AENAe | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Feb 2015 |
| A44 | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Feb 2015 |
| 0R4Y | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Feb 2015 |
| AENA | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Feb 2015 |
| ANNS.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Feb 2015 |
| AENA N | BMV (Bolsa Mexicana de Valores) | Yes | Ordinary Shares | MX | MXN | Feb 2015 |
| A44 | ETLX (Eurotlx) | Yes | Ordinary Shares | IT | EUR | Feb 2015 |
| A440 | DB (Deutsche Boerse AG) | UNSPONSORED ADR | DE | EUR | Apr 2017 |
Biography
Aena S.M.E., S.A., together with its subsidiaries, operates, maintains, manages, and administers airport infrastructures and heliports in Spain, the United Kingdom, Mexico, Colombia, Cuba, and internationa...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/22 01:30 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.