NYSE:CAAP

Stock Analysis Report

Corporación América Airports

Executive Summary

Corporación América Airports S.A. acquires, develops, and operates airport concessions.

Snowflake

Fundamentals

Very undervalued with moderate growth potential.

Share Price & News

How has Corporación América Airports's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.1%

CAAP

2.2%

US Infrastructure

0.07%

US Market


1 Year Return

-48.1%

CAAP

-36.7%

US Infrastructure

8.9%

US Market

Return vs Industry: CAAP underperformed the US Infrastructure industry which returned -36.7% over the past year.

Return vs Market: CAAP underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

CAAPIndustryMarket
7 Day-2.1%2.2%0.07%
30 Day-10.1%-0.7%-0.3%
90 Day-45.4%-12.9%-1.6%
1 Year-48.1%-48.1%-33.6%-36.7%11.3%8.9%
3 Yearn/a-43.3%-55.3%46.3%36.8%
5 Yearn/a-12.7%-40.6%62.1%44.3%

Price Volatility Vs. Market

How volatile is Corporación América Airports's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Corporación América Airports undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CAAP ($4.18) is trading below our estimate of fair value ($19.4)

Significantly Below Fair Value: CAAP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CAAP is good value based on its PE Ratio (7.6x) compared to the Infrastructure industry average (11.3x).

PE vs Market: CAAP is good value based on its PE Ratio (7.6x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: CAAP is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: CAAP is good value based on its PB Ratio (0.8x) compared to the US Infrastructure industry average (0.8x).


Next Steps

Future Growth

How is Corporación América Airports forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

37.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAAP's forecast earnings growth (37.9% per year) is above the savings rate (2.7%).

Earnings vs Market: CAAP's earnings (37.9% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CAAP's revenue (5.8% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CAAP's revenue (5.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CAAP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Corporación América Airports performed over the past 5 years?

13.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CAAP's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: CAAP's earnings growth over the past year (354.6%) exceeds its 5-year average (13.5% per year).

Earnings vs Industry: CAAP earnings growth over the past year (354.6%) exceeded the Infrastructure industry 36.9%.


Return on Equity

High ROE: CAAP's Return on Equity (6.2%) is considered low.


Return on Assets

ROA vs Industry: CAAP's Return on Assets is below or equal to the Infrastructure industry average last year.


Return on Capital Employed

ROCE Improving: CAAP's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Corporación América Airports's financial position?


Financial Position Analysis

Short Term Liabilities: CAAP's short term assets ($497.8M) do not cover its short term liabilities ($500.9M)

Long Term Liabilities: CAAP's short term assets (497.8M) do not cover its long term liabilities (2.2B)


Debt to Equity History and Analysis

Debt Level: CAAP's debt to equity ratio (84.2%) is considered high

Reducing Debt: Insufficient data to determine if CAAP's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: CAAP's debt is not well covered by operating cash flow (9.8%).

Interest Coverage: CAAP's interest payments on its debt are well covered by EBIT (4.3x coverage).


Balance Sheet

Inventory Level: CAAP has a low level of unsold assets or inventory.

Debt Coverage by Assets: CAAP's debt is not covered by short term assets (assets are 0.4x debt).


Next Steps

Dividend

What is Corporación América Airports's current dividend yield, its reliability and sustainability?

6.79%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage3.3%forecastin3Years6.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate CAAP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CAAP's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if CAAP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CAAP's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CAAP's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Corporación América Airports's salary, the management and board of directors tenure and is there insider trading?

2.1yrs

Average management tenure


CEO

Martin Francisco Eurnekian (41yo)

2.1yrs

Tenure

0

Mr. Martin Francisco Antranik Eurnekian serves as Director and Chief Executive Officer of Corporación América Airports S.A. Mr. Eurnekian has more than 15 years of experience in managing different business ...


Management Age and Tenure

2.1yrs

Average Tenure

51yo

Average Age

Experienced Management: CAAP's management team is considered experienced (2.1 years average tenure).


Board Age and Tenure

2.1yrs

Average Tenure

66yo

Average Age

Experienced Board: CAAP's board of directors are not considered experienced ( 2.1 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.


Ownership Breakdown


Management Team

  • Raúl Guillermo Francos (72yo)

    Chief Financial Officer

    • Tenure: 2.1yrs
  • Martin Francisco Eurnekian (41yo)

    CEO & Director

    • Tenure: 2.1yrs
  • Raúl Galante (59yo)

    Accounting

    • Tenure: 2.1yrs
  • Jorge Arruda (51yo)

    Finance and M&A Manager

    • Tenure: 2.1yrs
  • Andres Zenarruza (43yo)

    Legal Manager

    • Tenure: 2.1yrs
  • Gimena Albanesi

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Daniel Marx (66yo)

    Director

    • Tenure: 0.7yrs
  • Rod McGeoch (73yo)

    Director

    • Tenure: 2.1yrs
  • David Arendt (66yo)

    Independent Director

    • Tenure: 2.1yrs
  • Máximo Luis Bomchil (69yo)

    Chairman

    • Tenure: 0.7yrs
  • Martin Francisco Eurnekian (41yo)

    CEO & Director

    • Tenure: 2.1yrs
  • Valérie Pechon (44yo)

    Independent Director

    • Tenure: 2.1yrs
  • Carlo Montagna (55yo)

    Independent Director

    • Tenure: 2.1yrs

Company Information

Corporación América Airports S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Corporación América Airports S.A.
  • Ticker: CAAP
  • Exchange: NYSE
  • Founded: 1998
  • Industry: Airport Services
  • Sector: Transportation
  • Market Cap: US$668.893m
  • Shares outstanding: 160.02m
  • Website: https://www.caap.aero

Number of Employees


Location

  • Corporación América Airports S.A.
  • 4, rue de la Grêve
  • Luxembourg City
  • 1643
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CAAPNYSE (New York Stock Exchange)YesCommon SharesUSUSDFeb 2018

Biography

Corporación América Airports S.A. acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly knwona as A.C.I. Airports Int ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/24 00:58
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.