Auckland International Airport Limited

NZSE:AIA Stock Report

Market Cap: NZ$14.8b

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$8.53) is trading above our estimate of fair value (NZ$0.89)

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 Ratio16.7x
SalesNZ$857.00m
Market CapNZ$14.78b

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 Average5.5x
POT Port of Tauranga
10.3x6.5%NZ$4.3b
MFT Mainfreight
1.5x8.3%NZ$7.3b
AIR Air New Zealand
0.3x3.3%NZ$2.0b
KBHL Københavns Lufthavne
10.1xn/aDKK 48.5b
AIA Auckland International Airport
16.7x13.0%NZ$14.8b

Price-To-Sales vs Peers: AIA is expensive based on its Price-To-Sales Ratio (16.7x) compared to the peer average (5.5x).

Price to Sales Ratio vs Industry

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

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
AIA 16.7xIndustry Avg. 2.0xNo. of Companies35PS01.63.24.86.48+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AIA is expensive based on its Price-To-Sales Ratio (16.7x) compared to the Global Infrastructure industry average (2x).

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 Ratio16.7x
Fair PS Ratio9x

Price-To-Sales vs Fair Ratio: AIA is expensive based on its Price-To-Sales Ratio (16.7x) compared to the estimated Fair Price-To-Sales Ratio (9x).

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$8.53
NZ$8.29
-2.9%
8.5%NZ$9.80NZ$7.21n/a10
Jan ’26NZ$8.70
NZ$8.29
-4.8%
8.5%NZ$9.80NZ$7.21n/a10
Dec ’25NZ$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$7.71NZ$8.7012
Dec ’24NZ$8.07
NZ$8.45
+4.7%
8.5%NZ$9.56NZ$7.20NZ$7.7612
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

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/08 15:45
End of Day Share Price 2025/01/08 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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 here.

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 .

Analyst Sources

Auckland International Airport Limited is covered by 26 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightAPP Securities Pty Ltd.
David FraserAPP Securities Pty Ltd.
Roy HarrisonBofA Global Research