Auckland International Airport Limited

NZSE:AIA Stock Report

Market Cap: NZ$12.7b

Auckland International Airport Valuation

Is AIA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AIA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AIA (NZ$7.76) is trading above our estimate of fair value (NZ$0.82)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AIA?

Key metric: As AIA is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AIA. This is calculated by dividing AIA's market cap by their current revenue.
What is AIA's PS Ratio?
PS Ratio15.2x
SalesNZ$857.00m
Market CapNZ$12.66b

Price to Sales Ratio vs Peers

How does AIA's PS Ratio compare to its peers?

The above table shows the PS ratio for AIA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.1x
POT Port of Tauranga
9.7x6.3%NZ$4.0b
MFT Mainfreight
1.5x8.3%NZ$7.4b
AIR Air New Zealand
0.3x3.2%NZ$1.8b
FHZN Flughafen Zürich
4.9x4.7%CHF 6.3b
AIA Auckland International Airport
15.2x13.0%NZ$12.7b

Price-To-Sales vs Peers: AIA is expensive based on its Price-To-Sales Ratio (15.2x) compared to the peer average (4.1x).

Price to Sales Ratio vs Industry

How does AIA's PS Ratio compare vs other companies in the Global Infrastructure Industry?

28 CompaniesPrice / SalesEstimated GrowthMarket Cap
AIA 15.2xIndustry Avg. 1.8xNo. of Companies34PS01.63.24.86.48+
28 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AIA is expensive based on its Price-To-Sales Ratio (15.2x) compared to the Global Infrastructure industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is AIA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AIA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio15.2x
Fair PS Ratio8.8x

Price-To-Sales vs Fair Ratio: AIA is expensive based on its Price-To-Sales Ratio (15.2x) compared to the estimated Fair Price-To-Sales Ratio (8.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AIA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNZ$7.76
NZ$8.19
+5.5%
6.3%NZ$9.11NZ$7.21n/a10
Nov ’25NZ$7.23
NZ$8.29
+14.8%
5.1%NZ$9.11NZ$7.77n/a9
Oct ’25NZ$7.48
NZ$7.90
+5.6%
10.0%NZ$8.75NZ$5.72n/a10
Sep ’25NZ$7.59
NZ$8.04
+6.0%
10.2%NZ$9.13NZ$5.72n/a11
Aug ’25NZ$7.55
NZ$8.20
+8.6%
11.2%NZ$9.22NZ$5.72n/a11
Jul ’25NZ$7.65
NZ$8.42
+10.0%
11.4%NZ$9.56NZ$5.72n/a11
Jun ’25NZ$7.80
NZ$8.42
+7.9%
11.4%NZ$9.56NZ$5.72n/a11
May ’25NZ$7.78
NZ$8.45
+8.6%
11.7%NZ$9.56NZ$5.72n/a11
Apr ’25NZ$8.35
NZ$8.46
+1.3%
11.2%NZ$9.56NZ$5.72n/a12
Mar ’25NZ$8.13
NZ$8.46
+4.0%
11.2%NZ$9.56NZ$5.72n/a12
Feb ’25NZ$8.54
NZ$8.59
+0.6%
5.6%NZ$9.56NZ$7.75n/a12
Jan ’25NZ$8.80
NZ$8.47
-3.7%
6.2%NZ$9.56NZ$7.71n/a12
Dec ’24NZ$8.07
NZ$8.45
+4.7%
8.5%NZ$9.56NZ$7.20n/a12
Nov ’24NZ$7.45
NZ$8.45
+13.4%
8.5%NZ$9.56NZ$7.20NZ$7.2312
Oct ’24NZ$7.91
NZ$8.52
+7.7%
7.7%NZ$9.56NZ$7.20NZ$7.4812
Sep ’24NZ$8.05
NZ$8.52
+5.9%
7.7%NZ$9.56NZ$7.20NZ$7.5912
Aug ’24NZ$8.35
NZ$8.52
+2.1%
9.1%NZ$9.56NZ$7.20NZ$7.5511
Jul ’24NZ$8.55
NZ$8.51
-0.5%
9.5%NZ$9.56NZ$7.00NZ$7.6511
Jun ’24NZ$8.82
NZ$8.54
-3.2%
9.3%NZ$10.00NZ$7.65NZ$7.808
May ’24NZ$8.82
NZ$8.54
-3.2%
9.3%NZ$10.00NZ$7.65NZ$7.788
Apr ’24NZ$8.70
NZ$8.37
-3.8%
10.7%NZ$10.00NZ$7.00NZ$8.359
Mar ’24NZ$8.77
NZ$8.07
-8.0%
8.3%NZ$9.23NZ$7.00NZ$8.1310
Feb ’24NZ$8.62
NZ$7.59
-11.9%
7.0%NZ$8.60NZ$6.70NZ$8.5410
Jan ’24NZ$7.81
NZ$7.57
-3.1%
7.3%NZ$8.60NZ$6.70NZ$8.8010
Dec ’23NZ$8.14
NZ$7.52
-7.6%
7.3%NZ$8.60NZ$6.70NZ$8.0710
Nov ’23NZ$7.60
NZ$7.53
-0.9%
7.1%NZ$8.60NZ$6.70NZ$7.4510

Analyst Forecast: Target price is less than 20% higher than the current share price.

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