Aena S.M.E
Market Cap
€25.5b
Last Updated
2020/01/21 22:25 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.
Rewards
Risk Analysis
Snowflake Analysis
Mediocre balance sheet with acceptable track record.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.4%
AENA
0.2%
ES Infrastructure
1.0%
ES Market
1 Year Return
15.6%
AENA
12.2%
ES Infrastructure
7.4%
ES Market
Return vs Industry: AENA exceeded the Spanish Infrastructure industry which returned 15.1% over the past year.
Return vs Market: AENA exceeded the Spanish Market which returned 8.5% over the past year.
Shareholder returns
| AENA | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.4% | 0.2% | 1.0% |
| 30 Day | -1.2% | -0.7% | 0.07% |
| 90 Day | 3.2% | 1.0% | 3.5% |
| 1 Year | 19.7%15.6% | 16.5%12.2% | 11.3%7.4% |
| 3 Year | 37.9%26.7% | 37.4%24.6% | 16.4%5.2% |
| 5 Year | n/a | 57.9%32.2% | 9.4%-8.9% |
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 day ago | Simply Wall St
Read This Before Buying Aena S.M.E., S.A. (BME:AENA) For Its Dividend2 weeks ago | Simply Wall St
Why Aena S.M.E., S.A.'s (BME:AENA) High P/E Ratio Isn't Necessarily A Bad Thing4 weeks ago | Simply Wall St
Do Directors Own Aena S.M.E., S.A. (BME:AENA) Shares?Valuation
Is Aena S.M.E undervalued compared to its fair value and its price relative to the market?
17.91x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AENA (€174.1) is trading above our estimate of fair value (€119.3)
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 (18.3x) compared to the Infrastructure industry average (17.8x).
PE vs Market: AENA is poor value based on its PE Ratio (18.3x) compared to the Spanish market (17x).
Price to Earnings Growth Ratio
PEG Ratio: AENA is poor value based on its PEG Ratio (13.7x)
Price to Book Ratio
PB vs Industry: AENA is overvalued based on its PB Ratio (4.3x) compared to the XE Infrastructure industry average (1.8x).
Next Steps
Future Growth
How is Aena S.M.E forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?
1.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AENA's forecast earnings growth (1.3% per year) is above the savings rate (0.4%).
Earnings vs Market: AENA's earnings (1.3% per year) are forecast to grow slower than the Spanish market (9% per year).
High Growth Earnings: AENA's earnings are forecast to grow, but not significantly.
Revenue vs Market: AENA's revenue (2% per year) is forecast to grow slower than the Spanish market (3.4% per year).
High Growth Revenue: AENA's revenue (2% 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 high in 3 years time (20.9%)
Next Steps
Past Performance
How has Aena S.M.E performed over the past 5 years?
17.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AENA has high quality earnings.
Growing Profit Margin: AENA's current net profit margins (32.3%) are higher than last year (31.1%).
Past Earnings Growth Analysis
Earnings Trend: AENA's earnings have grown by 17.5% per year over the past 5 years.
Accelerating Growth: AENA's earnings growth over the past year (10.8%) is below its 5-year average (17.5% per year).
Earnings vs Industry: AENA earnings growth over the past year (10.8%) underperformed the Infrastructure industry 13.4%.
Return on Equity
High ROE: Whilst AENA's Return on Equity (23.66%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Aena S.M.E's financial position?
Financial Position Analysis
Short Term Liabilities: AENA's short term assets (€802.2M) do not cover its short term liabilities (€1.8B).
Long Term Liabilities: AENA's short term assets (€802.2M) do not cover its long term liabilities (€7.0B).
Debt to Equity History and Analysis
Debt Level: AENA's debt to equity ratio (116.2%) is considered high.
Reducing Debt: AENA's debt to equity ratio has reduced from 319.4% to 116.2% over the past 5 years.
Debt Coverage: AENA's debt is well covered by operating cash flow (29.8%).
Interest Coverage: AENA's interest payments on its debt are well covered by EBIT (15.9x coverage).
Balance Sheet
Inventory Level: AENA has a high level of physical assets or inventory.
Debt Coverage by Assets: AENA's debt is not covered by short term assets (assets are 0.1x debt).
Next Steps
Dividend
What is Aena S.M.E's current dividend yield, its reliability and sustainability?
4.08%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AENA's dividend (3.98%) is higher than the bottom 25% of dividend payers in the Spanish market (2.22%).
High Dividend: AENA's dividend (3.98%) is low compared to the top 25% of dividend payers in the Spanish market (5.51%).
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 4 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (73%), AENA's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AENA's dividends in 3 years are forecast to be covered by earnings (69.7% payout ratio).
Next Steps
Management
What is the CEO of Aena S.M.E's salary, the management and board of directors tenure and is there insider trading?
2.0yrs
Average management tenure
CEO
Maurici Lucena Betriu (44yo)
1.5yrs
Tenure
Mr. Maurici Lucena Betriu has been the Chairman, Chief Executive Officer and Director of Aena S.A. since July 16, 2018. Mr. Betriu served as Managing Director of Centre for the Development of Industrial Te ...
Management Age and Tenure
2.0yrs
Average Tenure
50yo
Average Age
Experienced Management: AENA's management team is considered experienced (2 years average tenure).
Board Age and Tenure
1.5yrs
Average Tenure
Experienced Board: AENA's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 30 |
| Max Price | €167.00 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Maurici Lucena Betriu (44yo)
Chairman & CEO
- Tenure: 1.5yrs
Emilio Rotondo
Deputy Chief Financial Officer
Antonio García-Mon Marañés (53yo)
Director of Legal Advisory & Equity Management Services
Begoña Gosálvez Butler
Director of Organization & Human Resources
Roberto Ángel Ramírez García
Head of Internal Auditing
José Leo Vizcaíno
Head of Financial Matters
- Tenure: 4.5yrs
Juan Carlos Alfonso Rubio
Non-Director Secretary of the Board
- Tenure: 2yrs
José Manuel Fernández Bosch (50yo)
Head of General Unregulated Business
María José Leal
Deputy Chief Financial Officer
María Gómez Rodríguez
Director of Communications
Board Members
Maurici Lucena Betriu (44yo)
Chairman & CEO
- Tenure: 1.5yrs
José Luis Bonet Ferrer
Independent Director
- Compensation: €3.00k
Jaime Terceiro Lomba (73yo)
Independent Director
- Compensation: €8.00k
Amancio López Seijas
Independent Director
- Compensation: €6.00k
Pilar Arranz Notario
Proprietary Director
- Compensation: €12.00k
Christopher Anthony Hohn
Proprietary Director
Francisco Javier Martín Ramiro
Proprietary Director
- Tenure: 3.3yrs
Angel Luis Arias Serrano
Proprietary Director
- Tenure: 2yrs
Leticia Iglesias Herraiz
Independent Director
- Tenure: 1yrs
Josep Antoni Duran i Lleida
Independent Director
- Tenure: 1yrs
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: €25.500b
- Shares outstanding: 150.00m
- Website: https://www.aena.es
Number of Employees
Location
- Aena S.M.E., S.A.
- calle Peonías, 12
- 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 |
| 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 |
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 internationally. The company operates through Airports, Real Estate Services, and International segments. It also operates and manages commercial spaces in airport terminals and car parks network; and rents areas in airport terminals for stores, food and beverage outlets, and advertising. In addition, the company manages industrial and real estate assets, such as land, warehouses, and hangars; and manages cargo centers. It manages 46 airports in Spain; 12 airports in Mexico; 2 airports in Colombia; and 1 airport in the United Kingdom. The company was formerly known as Aena, S.A. and changed its name to Aena S.M.E., S.A. in April 2017. The company was founded in 2010 and is headquartered in Madrid, Spain. Aena S.M.E., S.A. is a subsidiary of ENAIRE.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/21 22:25 |
| End of Day Share Price | 2020/01/21 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.