Corporación América Airports S.A. (CAAP) 10-Year Financial Performance & Capital Metrics

CAAP • • Industrial / General

IndustrialsAirlines & AirportsAirport OperatorsInternational Airport Operators

AboutCorporación América Airports S.A., through its subsidiaries, acquires, develops, and operates airport concessions. It operates 53 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. The company was founded in 1998 and is headquartered in Luxembourg City, Luxembourg. Corporación América Airports S.A. is a subsidiary of A.C.I. Airports S.à r.l.Show more

Revenue $1.84B +31.7%
EBITDA $650M -5.9%
Net Income $283M +18.0%
EPS (Diluted) 1.76 +18.1%
Gross Margin 33.03% -4.3%
EBITDA Margin 35.28% -28.6%
Operating Margin 24.26% -37.2%
Net Margin 15.34% -10.4%
ROE 24.35% -15.3%
ROIC 16.65% -23.3%
Debt/Equity 0.77 -54.1%
Interest Coverage 4.16 -23.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 24.6%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 21.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y3.41%

3Y37.64%

TTM14.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-47.48%

EPS CAGR

10Y-

5Y-

3Y-

TTM-49.07%

ROCE

10Y Avg8.7%

5Y Avg6.97%

3Y Avg13.32%

Latest13.9%

Peer Comparison

International Airport Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CAAPCorporación América Airports S.A.	4.17B	25.58	14.53	31.66%	9.5%	12.18%	9.42%	0.77

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.19B	1.37B	1.58B	1.43B	1.56B	607.36M	706.9M	1.38B	1.4B	1.84B
Revenue Growth %	-	0.15%	0.15%	-0.09%	0.09%	-0.61%	0.16%	0.95%	0.02%	0.32%
Cost of Goods Sold+	759.15M	859.07M	1.03B	971.4M	1.14B	653.58M	622.3M	963.1M	916.62M	1.23B
COGS % of Revenue	0.64%	0.63%	0.65%	0.68%	0.73%	1.08%	0.88%	0.7%	0.65%	0.67%
Gross Profit+	427.94M	507.26M	545.1M	454.7M	420.21M	-46.23M	84.6M	415.6M	483.42M	608.83M
Gross Margin %	0.36%	0.37%	0.35%	0.32%	0.27%	-0.08%	0.12%	0.3%	0.35%	0.33%
Gross Profit Growth %	-	0.19%	0.07%	-0.17%	-0.08%	-1.11%	2.83%	3.91%	0.16%	0.26%
Operating Expenses+	151.74M	159.08M	179.09M	155.75M	153.78M	55.2M	71.34M	115.84M	-55.05M	161.58M
OpEx % of Revenue	0.13%	0.12%	0.11%	0.11%	0.1%	0.09%	0.1%	0.08%	-0.04%	0.09%
Selling, General & Admin	108.08M	107.95M	120.06M	104.48M	86.69M	58.78M	61.6M	91.7M	91.68M	132.21M
SG&A % of Revenue	0.09%	0.08%	0.08%	0.07%	0.06%	0.1%	0.09%	0.07%	0.07%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-5.37M	51.13M	-104.49M	-36.46M	-14.51M	-46.57M	9.74M	24.14M	-154.58M	29.37M
Operating Income+	273.62M	331.81M	369.15M	298.97M	312.97M	-71.89M	-78.69M	240.07M	540.64M	447.25M
Operating Margin %	0.23%	0.24%	0.23%	0.21%	0.2%	-0.12%	-0.11%	0.17%	0.39%	0.24%
Operating Income Growth %	-	0.21%	0.11%	-0.19%	0.05%	-1.23%	-0.09%	4.05%	1.25%	-0.17%
EBITDA+	345.87M	454.69M	507.28M	474.8M	495.16M	128.43M	81.31M	373.64M	691.33M	650.26M
EBITDA Margin %	0.29%	0.33%	0.32%	0.33%	0.32%	0.21%	0.12%	0.27%	0.49%	0.35%
EBITDA Growth %	-	0.31%	0.12%	-0.06%	0.04%	-0.74%	-0.37%	3.6%	0.85%	-0.06%
D&A (Non-Cash Add-back)	72.25M	122.88M	138.13M	175.83M	182.19M	200.32M	160M	133.57M	150.7M	203.01M
EBIT	273.62M	213.3M	229.04M	99.8M	118.28M	-272.68M	39.27M	360.65M	297.41M	714.2M
Net Interest Income+	-62.23M	-209.05M	-180.49M	-80.01M	-70.34M	-84.3M	-111.67M	-125.25M	-46.59M	-34.46M
Interest Income	12.37M	19.01M	39.23M	27.2M	31.33M	17.59M	17.64M	43.92M	52.68M	73M
Interest Expense	74.6M	228.06M	219.71M	107.22M	101.67M	101.89M	129.31M	169.17M	99.27M	107.46M
Other Income/Expense	-222.35M	-236.74M	-255.33M	-295.47M	-208.44M	-206.33M	-97.13M	-114.06M	-338.41M	159.48M
Pretax Income+	51.27M	95.08M	113.82M	3.5M	11.26M	-376.19M	-90.67M	190.52M	202.23M	606.73M
Pretax Margin %	0.04%	0.07%	0.07%	0%	0.01%	-0.62%	-0.13%	0.14%	0.14%	0.33%
Income Tax+	44.97M	56.36M	46.92M	14.1M	17.08M	-14.29M	69.11M	24.88M	-24.24M	298.82M
Effective Tax Rate %	2.06%	0.36%	0.56%	2.03%	-0.52%	0.96%	1.76%	0.88%	1.18%	0.47%
Net Income+	105.49M	33.76M	63.49M	7.13M	-5.82M	-361.89M	-159.78M	168.17M	239.51M	282.67M
Net Margin %	0.09%	0.02%	0.04%	0%	-0%	-0.6%	-0.23%	0.12%	0.17%	0.15%
Net Income Growth %	-	-0.68%	0.88%	-0.89%	-1.82%	-61.18%	0.56%	2.05%	0.42%	0.18%
Net Income (Continuing)	75.62M	38.72M	82.73M	-6.45M	-467K	-357.4M	-159.78M	165.63M	226.47M	307.91M
Discontinued Operations	108.99M	0	0	0	0	-4.49M	-21.2M	0	0	0
Minority Interest	371.34M	354.17M	335.36M	454.45M	434.73M	315.88M	303.88M	146.27M	78.93M	148.69M
EPS (Diluted)+	0.71	0.23	0.40	0.04	-0.04	-2.26	-1.00	1.05	1.49	1.76
EPS Growth %	-	-0.68%	0.74%	-0.9%	-1.91%	-61.09%	0.56%	2.05%	0.42%	0.18%
EPS (Basic)	0.71	0.23	0.40	0.04	-0.04	-2.26	-1.00	1.05	1.49	1.76
Diluted Shares Outstanding	148.12M	148.12M	160.02M	178.13M	160.02M	160.02M	160.5M	160.79M	160.89M	161.19M
Basic Shares Outstanding	148.12M	148.12M	160.02M	178.13M	160.02M	160.02M	160.5M	160.75M	160.89M	161.01M
Dividend Payout Ratio	0.73%	1.47%	0.38%	2.1%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	394.72M	507.13M	579.48M	532.74M	507.64M	519.99M	626.32M	647.47M	749.91M	765.51M
Cash & Short-Term Investments	227.41M	246.92M	261.4M	325.84M	279.45M	354.93M	451.08M	451.96M	457.87M	524.67M
Cash Only	184.24M	212.99M	221.6M	244.87M	195.7M	281.03M	375.78M	385.26M	369.85M	439.85M
Short-Term Investments	43.17M	33.94M	39.8M	80.98M	83.75M	73.9M	75.3M	66.7M	78.37M	84.82M
Accounts Receivable	144.62M	114.72M	136.36M	133.19M	119.95M	89.96M	159.73M	174.89M	271.23M	157.55M
Days Sales Outstanding	44.47	30.64	31.6	34.09	28.09	54.06	82.47	46.3	70.71	31.2
Inventory	8.22M	7.66M	8.56M	9.77M	11.3M	8.02M	0	15.77M	16.15M	11.41M
Days Inventory Outstanding	3.95	3.26	3.03	3.67	3.62	4.48	-	5.97	6.43	3.37
Other Current Assets	-8.27M	158.02M	183.91M	57.86M	107.56M	63.73M	137K	0	0	70.66M
Total Non-Current Assets+	2.88B	3.12B	3.22B	3.31B	3.37B	2.89B	2.99B	3.19B	2.79B	3.42B
Property, Plant & Equipment	71.69M	65.98M	74.48M	74.3M	87.99M	94.28M	88.38M	83.93M	85.41M	87.72M
Fixed Asset Turnover	16.56x	20.71x	21.15x	19.19x	17.71x	6.44x	8.00x	16.43x	16.39x	21.01x
Goodwill	56.4M	55.71M	56.74M	56.5M	55.51M	5.73M	9.54M	9M	9.29M	8.79M
Intangible Assets	2.55B	2.77B	2.76B	2.88B	2.95B	2.61B	2.73B	2.95B	2.51B	3.15B
Long-Term Investments	29.53M	11.65M	15.94M	16.6M	15.73M	11.56M	21.54M	8.84M	79.06M	100.6M
Other Non-Current Assets	117.34M	118.07M	177.64M	134.61M	121.28M	90.3M	72.56M	80.67M	43.92M	58.79M
Total Assets+	3.27B	3.63B	3.8B	3.85B	3.88B	3.41B	3.62B	3.84B	3.54B	4.18B
Asset Turnover	0.36x	0.38x	0.41x	0.37x	0.40x	0.18x	0.20x	0.36x	0.40x	0.44x
Asset Growth %	-	0.11%	0.05%	0.01%	0.01%	-0.12%	0.06%	0.06%	-0.08%	0.18%
Total Current Liabilities+	482.04M	662.78M	732.02M	450.55M	562.3M	552.55M	842.29M	676.32M	685.93M	603.73M
Accounts Payable	121.16M	113.54M	127.81M	114.64M	148.76M	150.85M	116.24M	124.1M	112.77M	120.76M
Days Payables Outstanding	58.25	48.24	45.29	43.08	47.69	84.24	68.18	47.03	44.9	35.71
Short-Term Debt	127.25M	141.57M	372.79M	98.91M	175.12M	216.41M	421.27M	178.02M	199.69M	115.37M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	177.96M	294.28M	161.61M	155.44M	187.3M	154.23M	247.26M	58.92M	23.65M	358.87M
Current Ratio	0.82x	0.77x	0.79x	1.18x	0.90x	0.94x	0.74x	0.96x	1.09x	1.27x
Quick Ratio	0.80x	0.75x	0.78x	1.16x	0.88x	0.93x	0.74x	0.93x	1.07x	1.25x
Cash Conversion Cycle	-9.83	-14.34	-10.66	-5.32	-15.98	-25.7	-	5.24	32.24	-1.14
Total Non-Current Liabilities+	1.96B	2.16B	2.27B	2.17B	2.12B	2.05B	2B	2.3B	2.05B	2.06B
Long-Term Debt	960.32M	965.67M	1.11B	1.03B	1.03B	1.13B	1.02B	1.29B	1.13B	1.04B
Capital Lease Obligations	0	0	0	0	5.78M	10.21M	8.48M	5.53M	10.29M	7.01M
Deferred Tax Liabilities	145.78M	144.39M	148.3M	271.18M	233.12M	171.29M	227.42M	232.46M	137.31M	383.37M
Other Non-Current Liabilities	831.72M	1.02B	978.18M	848.34M	827.77M	722.44M	736.02M	757.78M	757.61M	618.09M
Total Liabilities	2.44B	2.82B	3B	2.62B	2.68B	2.6B	2.85B	2.97B	2.74B	2.66B
Total Debt+	1.09B	1.11B	1.49B	1.13B	1.22B	1.36B	1.45B	1.47B	1.35B	1.17B
Net Debt	903.33M	894.25M	1.26B	881.79M	1.02B	1.08B	1.08B	1.09B	977.37M	728.94M
Debt / Equity	1.30x	1.38x	1.86x	0.92x	1.02x	1.69x	1.88x	1.71x	1.68x	0.77x
Debt / EBITDA	3.14x	2.44x	2.93x	2.37x	2.46x	10.58x	17.85x	3.95x	1.95x	1.80x
Net Debt / EBITDA	2.61x	1.97x	2.49x	1.86x	2.06x	8.39x	13.23x	2.91x	1.41x	1.12x
Interest Coverage	3.67x	1.45x	1.68x	2.79x	3.08x	-0.71x	-0.61x	1.42x	5.45x	4.16x
Total Equity+	834.1M	803.32M	797.14M	1.22B	1.2B	805.29M	773.61M	862.37M	803.91M	1.52B
Equity Growth %	-	-0.04%	-0.01%	0.53%	-0.02%	-0.33%	-0.04%	0.11%	-0.07%	0.89%
Book Value per Share	5.63	5.42	4.98	6.86	7.49	5.03	4.82	5.36	5.00	9.42
Total Shareholders' Equity	462.76M	449.15M	461.78M	768.24M	763.89M	489.41M	469.73M	716.1M	724.98M	1.37B
Common Stock	20K	20K	1.5B	160.02M	160.02M	163.22M	163.22M	163.22M	163.22M	163.22M
Retained Earnings	40.79M	74.54M	138.03M	394.16M	403.25M	150.2M	32.69M	201.19M	438.77M	718.51M
Treasury Stock	0	0	0	0	0	-6.14M	-4.77M	-4.6M	-4.32M	-4.09M
Accumulated OCI	421.95M	374.59M	-1.18B	33.58M	20.13M	-1.3M	95.16M	172.85M	-56.13M	308.2M
Minority Interest	371.34M	354.17M	335.36M	454.45M	434.73M	315.88M	303.88M	146.27M	78.93M	148.69M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.62M	164.62M	-49.42M	191.66M	-22.99M	738K	105.46M	287.93M	356.42M	405.3M
Operating CF Margin %	0%	0.12%	-0.03%	0.13%	-0.01%	0%	0.15%	0.21%	0.25%	0.22%
Operating CF Growth %	-	100.37%	-1.3%	4.88%	-1.12%	1.03%	141.9%	1.73%	0.24%	0.14%
Net Income	105.49M	33.76M	63.49M	7.13M	9.1M	-253.05M	-117.75M	168.17M	239.51M	282.67M
Depreciation & Amortization	72.14M	122.88M	138.13M	175.83M	182.27M	200.79M	160.63M	172.48M	151.59M	203.01M
Stock-Based Compensation	0	0	0	0	0	1.8M	1.02M	667K	1.05M	1.14M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-4.92M	161.81M	-90K	88.52M	-60.94M	17.11M	73.82M	4.26M	17.56M	51.97M
Working Capital Changes	-171.09M	-153.83M	-250.95M	-79.81M	-153.42M	34.1M	-12.26M	-57.64M	-53.3M	-133.49M
Change in Receivables	-64.22M	-97.04M	-78.3M	-41.57M	-103.91M	46.57M	-4.5M	-55.06M	-32.43M	-68.85M
Change in Inventory	4.38M	987K	-909K	-999K	-1.4M	2.36M	-2.77M	-3.57M	-1.55M	5.01M
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-269.94M	27.75M	-45.16M	-59.19M	-8.87M	1.72M	9.63M	9.39M	-66.4M	-32.49M
Capital Expenditures	-8.49M	-10.39M	-11.5M	-11.14M	-17.12M	-8.95M	-7.67M	-9.09M	-9.66M	-12.22M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-221.53M	38.14M	-33.66M	-48.05M	8.24M	10.67M	18.43M	18.48M	-56.74M	-20.27M
Cash from Financing+	219.54M	-159.38M	128.96M	-65.68M	24.57M	90.54M	-3.67M	-234.29M	-201.63M	-271.19M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-76.88M	-49.73M	-23.84M	-14.96M	-22.48M	-1.51M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	166.7M	-19.05M	-191.37M	257.03M	-76.81M	-58.32M	-98.64M	-273.16M	-85.88M	-143.06M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.87M	154.23M	-60.92M	180.52M	-40.1M	-8.21M	97.8M	278.84M	346.75M	393.08M
FCF Margin %	-0.01%	0.11%	-0.04%	0.13%	-0.03%	-0.01%	0.14%	0.2%	0.25%	0.21%
FCF Growth %	-	23.46%	-1.4%	3.96%	-1.22%	0.8%	12.91%	1.85%	0.24%	0.13%
FCF per Share	-0.05	1.04	-0.38	1.01	-0.25	-0.05	0.61	1.73	2.16	2.44
FCF Conversion (FCF/Net Income)	0.02x	4.88x	-0.78x	26.90x	3.95x	-0.00x	-0.66x	1.71x	1.49x	1.43x
Interest Paid	38.33M	48.56M	106.95M	70.64M	78.83M	41.15M	86.11M	111.39M	83.79M	96.17M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.65%	4.12%	7.93%	0.71%	-0.48%	-36.12%	-20.24%	20.56%	28.75%	24.35%
Return on Invested Capital (ROIC)	11.81%	14.49%	14.73%	10.76%	10.86%	-2.63%	-3.16%	9.47%	21.73%	16.65%
Gross Margin	36.05%	37.13%	34.61%	31.88%	26.96%	-7.61%	11.97%	30.14%	34.53%	33.03%
Net Margin	8.89%	2.47%	4.03%	0.5%	-0.37%	-59.59%	-22.6%	12.2%	17.11%	15.34%
Debt / Equity	1.30x	1.38x	1.86x	0.92x	1.02x	1.69x	1.88x	1.71x	1.68x	0.77x
Interest Coverage	3.67x	1.45x	1.68x	2.79x	3.08x	-0.71x	-0.61x	1.42x	5.45x	4.16x
FCF Conversion	0.02x	4.88x	-0.78x	26.90x	3.95x	-0.00x	-0.66x	1.71x	1.49x	1.43x
Revenue Growth	-	15.1%	15.28%	-9.46%	9.29%	-61.03%	16.39%	95.03%	1.55%	31.66%

Frequently Asked Questions

Valuation & Price

Corporación América Airports S.A. (CAAP) has a price-to-earnings (P/E) ratio of 14.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Corporación América Airports S.A. (CAAP) reported $1.93B in revenue for fiscal year 2024. This represents a 62% increase from $1.19B in 2015.

Corporación América Airports S.A. (CAAP) grew revenue by 31.7% over the past year. This is strong growth.

Yes, Corporación América Airports S.A. (CAAP) is profitable, generating $182.9M in net income for fiscal year 2024 (15.3% net margin).

Dividend & Returns

Corporación América Airports S.A. (CAAP) has a return on equity (ROE) of 24.3%. This is excellent, indicating efficient use of shareholder capital.

Corporación América Airports S.A. (CAAP) generated $353.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Corporación América Airports S.A. (CAAP) 10-Year Financial Performance & Capital Metrics

CAAP • • Industrial / General

IndustrialsAirlines & AirportsAirport OperatorsInternational Airport Operators

Revenue $1.84B +31.7%
EBITDA $650M -5.9%
Net Income $283M +18.0%
EPS (Diluted) 1.76 +18.1%
Gross Margin 33.03% -4.3%
EBITDA Margin 35.28% -28.6%
Operating Margin 24.26% -37.2%
Net Margin 15.34% -10.4%
ROE 24.35% -15.3%
ROIC 16.65% -23.3%
Debt/Equity 0.77 -54.1%
Interest Coverage 4.16 -23.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 24.6%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 21.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y3.41%

3Y37.64%

TTM14.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-47.48%

EPS CAGR

10Y-

5Y-

3Y-

TTM-49.07%

ROCE

10Y Avg8.7%

5Y Avg6.97%

3Y Avg13.32%

Latest13.9%

Peer Comparison

International Airport Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CAAPCorporación América Airports S.A.	4.17B	25.58	14.53	31.66%	9.5%	12.18%	9.42%	0.77

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.19B	1.37B	1.58B	1.43B	1.56B	607.36M	706.9M	1.38B	1.4B	1.84B
Revenue Growth %	-	0.15%	0.15%	-0.09%	0.09%	-0.61%	0.16%	0.95%	0.02%	0.32%
Cost of Goods Sold+	759.15M	859.07M	1.03B	971.4M	1.14B	653.58M	622.3M	963.1M	916.62M	1.23B
COGS % of Revenue	0.64%	0.63%	0.65%	0.68%	0.73%	1.08%	0.88%	0.7%	0.65%	0.67%
Gross Profit+	427.94M	507.26M	545.1M	454.7M	420.21M	-46.23M	84.6M	415.6M	483.42M	608.83M
Gross Margin %	0.36%	0.37%	0.35%	0.32%	0.27%	-0.08%	0.12%	0.3%	0.35%	0.33%
Gross Profit Growth %	-	0.19%	0.07%	-0.17%	-0.08%	-1.11%	2.83%	3.91%	0.16%	0.26%
Operating Expenses+	151.74M	159.08M	179.09M	155.75M	153.78M	55.2M	71.34M	115.84M	-55.05M	161.58M
OpEx % of Revenue	0.13%	0.12%	0.11%	0.11%	0.1%	0.09%	0.1%	0.08%	-0.04%	0.09%
Selling, General & Admin	108.08M	107.95M	120.06M	104.48M	86.69M	58.78M	61.6M	91.7M	91.68M	132.21M
SG&A % of Revenue	0.09%	0.08%	0.08%	0.07%	0.06%	0.1%	0.09%	0.07%	0.07%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-5.37M	51.13M	-104.49M	-36.46M	-14.51M	-46.57M	9.74M	24.14M	-154.58M	29.37M
Operating Income+	273.62M	331.81M	369.15M	298.97M	312.97M	-71.89M	-78.69M	240.07M	540.64M	447.25M
Operating Margin %	0.23%	0.24%	0.23%	0.21%	0.2%	-0.12%	-0.11%	0.17%	0.39%	0.24%
Operating Income Growth %	-	0.21%	0.11%	-0.19%	0.05%	-1.23%	-0.09%	4.05%	1.25%	-0.17%
EBITDA+	345.87M	454.69M	507.28M	474.8M	495.16M	128.43M	81.31M	373.64M	691.33M	650.26M
EBITDA Margin %	0.29%	0.33%	0.32%	0.33%	0.32%	0.21%	0.12%	0.27%	0.49%	0.35%
EBITDA Growth %	-	0.31%	0.12%	-0.06%	0.04%	-0.74%	-0.37%	3.6%	0.85%	-0.06%
D&A (Non-Cash Add-back)	72.25M	122.88M	138.13M	175.83M	182.19M	200.32M	160M	133.57M	150.7M	203.01M
EBIT	273.62M	213.3M	229.04M	99.8M	118.28M	-272.68M	39.27M	360.65M	297.41M	714.2M
Net Interest Income+	-62.23M	-209.05M	-180.49M	-80.01M	-70.34M	-84.3M	-111.67M	-125.25M	-46.59M	-34.46M
Interest Income	12.37M	19.01M	39.23M	27.2M	31.33M	17.59M	17.64M	43.92M	52.68M	73M
Interest Expense	74.6M	228.06M	219.71M	107.22M	101.67M	101.89M	129.31M	169.17M	99.27M	107.46M
Other Income/Expense	-222.35M	-236.74M	-255.33M	-295.47M	-208.44M	-206.33M	-97.13M	-114.06M	-338.41M	159.48M
Pretax Income+	51.27M	95.08M	113.82M	3.5M	11.26M	-376.19M	-90.67M	190.52M	202.23M	606.73M
Pretax Margin %	0.04%	0.07%	0.07%	0%	0.01%	-0.62%	-0.13%	0.14%	0.14%	0.33%
Income Tax+	44.97M	56.36M	46.92M	14.1M	17.08M	-14.29M	69.11M	24.88M	-24.24M	298.82M
Effective Tax Rate %	2.06%	0.36%	0.56%	2.03%	-0.52%	0.96%	1.76%	0.88%	1.18%	0.47%
Net Income+	105.49M	33.76M	63.49M	7.13M	-5.82M	-361.89M	-159.78M	168.17M	239.51M	282.67M
Net Margin %	0.09%	0.02%	0.04%	0%	-0%	-0.6%	-0.23%	0.12%	0.17%	0.15%
Net Income Growth %	-	-0.68%	0.88%	-0.89%	-1.82%	-61.18%	0.56%	2.05%	0.42%	0.18%
Net Income (Continuing)	75.62M	38.72M	82.73M	-6.45M	-467K	-357.4M	-159.78M	165.63M	226.47M	307.91M
Discontinued Operations	108.99M	0	0	0	0	-4.49M	-21.2M	0	0	0
Minority Interest	371.34M	354.17M	335.36M	454.45M	434.73M	315.88M	303.88M	146.27M	78.93M	148.69M
EPS (Diluted)+	0.71	0.23	0.40	0.04	-0.04	-2.26	-1.00	1.05	1.49	1.76
EPS Growth %	-	-0.68%	0.74%	-0.9%	-1.91%	-61.09%	0.56%	2.05%	0.42%	0.18%
EPS (Basic)	0.71	0.23	0.40	0.04	-0.04	-2.26	-1.00	1.05	1.49	1.76
Diluted Shares Outstanding	148.12M	148.12M	160.02M	178.13M	160.02M	160.02M	160.5M	160.79M	160.89M	161.19M
Basic Shares Outstanding	148.12M	148.12M	160.02M	178.13M	160.02M	160.02M	160.5M	160.75M	160.89M	161.01M
Dividend Payout Ratio	0.73%	1.47%	0.38%	2.1%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	394.72M	507.13M	579.48M	532.74M	507.64M	519.99M	626.32M	647.47M	749.91M	765.51M
Cash & Short-Term Investments	227.41M	246.92M	261.4M	325.84M	279.45M	354.93M	451.08M	451.96M	457.87M	524.67M
Cash Only	184.24M	212.99M	221.6M	244.87M	195.7M	281.03M	375.78M	385.26M	369.85M	439.85M
Short-Term Investments	43.17M	33.94M	39.8M	80.98M	83.75M	73.9M	75.3M	66.7M	78.37M	84.82M
Accounts Receivable	144.62M	114.72M	136.36M	133.19M	119.95M	89.96M	159.73M	174.89M	271.23M	157.55M
Days Sales Outstanding	44.47	30.64	31.6	34.09	28.09	54.06	82.47	46.3	70.71	31.2
Inventory	8.22M	7.66M	8.56M	9.77M	11.3M	8.02M	0	15.77M	16.15M	11.41M
Days Inventory Outstanding	3.95	3.26	3.03	3.67	3.62	4.48	-	5.97	6.43	3.37
Other Current Assets	-8.27M	158.02M	183.91M	57.86M	107.56M	63.73M	137K	0	0	70.66M
Total Non-Current Assets+	2.88B	3.12B	3.22B	3.31B	3.37B	2.89B	2.99B	3.19B	2.79B	3.42B
Property, Plant & Equipment	71.69M	65.98M	74.48M	74.3M	87.99M	94.28M	88.38M	83.93M	85.41M	87.72M
Fixed Asset Turnover	16.56x	20.71x	21.15x	19.19x	17.71x	6.44x	8.00x	16.43x	16.39x	21.01x
Goodwill	56.4M	55.71M	56.74M	56.5M	55.51M	5.73M	9.54M	9M	9.29M	8.79M
Intangible Assets	2.55B	2.77B	2.76B	2.88B	2.95B	2.61B	2.73B	2.95B	2.51B	3.15B
Long-Term Investments	29.53M	11.65M	15.94M	16.6M	15.73M	11.56M	21.54M	8.84M	79.06M	100.6M
Other Non-Current Assets	117.34M	118.07M	177.64M	134.61M	121.28M	90.3M	72.56M	80.67M	43.92M	58.79M
Total Assets+	3.27B	3.63B	3.8B	3.85B	3.88B	3.41B	3.62B	3.84B	3.54B	4.18B
Asset Turnover	0.36x	0.38x	0.41x	0.37x	0.40x	0.18x	0.20x	0.36x	0.40x	0.44x
Asset Growth %	-	0.11%	0.05%	0.01%	0.01%	-0.12%	0.06%	0.06%	-0.08%	0.18%
Total Current Liabilities+	482.04M	662.78M	732.02M	450.55M	562.3M	552.55M	842.29M	676.32M	685.93M	603.73M
Accounts Payable	121.16M	113.54M	127.81M	114.64M	148.76M	150.85M	116.24M	124.1M	112.77M	120.76M
Days Payables Outstanding	58.25	48.24	45.29	43.08	47.69	84.24	68.18	47.03	44.9	35.71
Short-Term Debt	127.25M	141.57M	372.79M	98.91M	175.12M	216.41M	421.27M	178.02M	199.69M	115.37M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	177.96M	294.28M	161.61M	155.44M	187.3M	154.23M	247.26M	58.92M	23.65M	358.87M
Current Ratio	0.82x	0.77x	0.79x	1.18x	0.90x	0.94x	0.74x	0.96x	1.09x	1.27x
Quick Ratio	0.80x	0.75x	0.78x	1.16x	0.88x	0.93x	0.74x	0.93x	1.07x	1.25x
Cash Conversion Cycle	-9.83	-14.34	-10.66	-5.32	-15.98	-25.7	-	5.24	32.24	-1.14
Total Non-Current Liabilities+	1.96B	2.16B	2.27B	2.17B	2.12B	2.05B	2B	2.3B	2.05B	2.06B
Long-Term Debt	960.32M	965.67M	1.11B	1.03B	1.03B	1.13B	1.02B	1.29B	1.13B	1.04B
Capital Lease Obligations	0	0	0	0	5.78M	10.21M	8.48M	5.53M	10.29M	7.01M
Deferred Tax Liabilities	145.78M	144.39M	148.3M	271.18M	233.12M	171.29M	227.42M	232.46M	137.31M	383.37M
Other Non-Current Liabilities	831.72M	1.02B	978.18M	848.34M	827.77M	722.44M	736.02M	757.78M	757.61M	618.09M
Total Liabilities	2.44B	2.82B	3B	2.62B	2.68B	2.6B	2.85B	2.97B	2.74B	2.66B
Total Debt+	1.09B	1.11B	1.49B	1.13B	1.22B	1.36B	1.45B	1.47B	1.35B	1.17B
Net Debt	903.33M	894.25M	1.26B	881.79M	1.02B	1.08B	1.08B	1.09B	977.37M	728.94M
Debt / Equity	1.30x	1.38x	1.86x	0.92x	1.02x	1.69x	1.88x	1.71x	1.68x	0.77x
Debt / EBITDA	3.14x	2.44x	2.93x	2.37x	2.46x	10.58x	17.85x	3.95x	1.95x	1.80x
Net Debt / EBITDA	2.61x	1.97x	2.49x	1.86x	2.06x	8.39x	13.23x	2.91x	1.41x	1.12x
Interest Coverage	3.67x	1.45x	1.68x	2.79x	3.08x	-0.71x	-0.61x	1.42x	5.45x	4.16x
Total Equity+	834.1M	803.32M	797.14M	1.22B	1.2B	805.29M	773.61M	862.37M	803.91M	1.52B
Equity Growth %	-	-0.04%	-0.01%	0.53%	-0.02%	-0.33%	-0.04%	0.11%	-0.07%	0.89%
Book Value per Share	5.63	5.42	4.98	6.86	7.49	5.03	4.82	5.36	5.00	9.42
Total Shareholders' Equity	462.76M	449.15M	461.78M	768.24M	763.89M	489.41M	469.73M	716.1M	724.98M	1.37B
Common Stock	20K	20K	1.5B	160.02M	160.02M	163.22M	163.22M	163.22M	163.22M	163.22M
Retained Earnings	40.79M	74.54M	138.03M	394.16M	403.25M	150.2M	32.69M	201.19M	438.77M	718.51M
Treasury Stock	0	0	0	0	0	-6.14M	-4.77M	-4.6M	-4.32M	-4.09M
Accumulated OCI	421.95M	374.59M	-1.18B	33.58M	20.13M	-1.3M	95.16M	172.85M	-56.13M	308.2M
Minority Interest	371.34M	354.17M	335.36M	454.45M	434.73M	315.88M	303.88M	146.27M	78.93M	148.69M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.62M	164.62M	-49.42M	191.66M	-22.99M	738K	105.46M	287.93M	356.42M	405.3M
Operating CF Margin %	0%	0.12%	-0.03%	0.13%	-0.01%	0%	0.15%	0.21%	0.25%	0.22%
Operating CF Growth %	-	100.37%	-1.3%	4.88%	-1.12%	1.03%	141.9%	1.73%	0.24%	0.14%
Net Income	105.49M	33.76M	63.49M	7.13M	9.1M	-253.05M	-117.75M	168.17M	239.51M	282.67M
Depreciation & Amortization	72.14M	122.88M	138.13M	175.83M	182.27M	200.79M	160.63M	172.48M	151.59M	203.01M
Stock-Based Compensation	0	0	0	0	0	1.8M	1.02M	667K	1.05M	1.14M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-4.92M	161.81M	-90K	88.52M	-60.94M	17.11M	73.82M	4.26M	17.56M	51.97M
Working Capital Changes	-171.09M	-153.83M	-250.95M	-79.81M	-153.42M	34.1M	-12.26M	-57.64M	-53.3M	-133.49M
Change in Receivables	-64.22M	-97.04M	-78.3M	-41.57M	-103.91M	46.57M	-4.5M	-55.06M	-32.43M	-68.85M
Change in Inventory	4.38M	987K	-909K	-999K	-1.4M	2.36M	-2.77M	-3.57M	-1.55M	5.01M
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-269.94M	27.75M	-45.16M	-59.19M	-8.87M	1.72M	9.63M	9.39M	-66.4M	-32.49M
Capital Expenditures	-8.49M	-10.39M	-11.5M	-11.14M	-17.12M	-8.95M	-7.67M	-9.09M	-9.66M	-12.22M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-221.53M	38.14M	-33.66M	-48.05M	8.24M	10.67M	18.43M	18.48M	-56.74M	-20.27M
Cash from Financing+	219.54M	-159.38M	128.96M	-65.68M	24.57M	90.54M	-3.67M	-234.29M	-201.63M	-271.19M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-76.88M	-49.73M	-23.84M	-14.96M	-22.48M	-1.51M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	166.7M	-19.05M	-191.37M	257.03M	-76.81M	-58.32M	-98.64M	-273.16M	-85.88M	-143.06M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.87M	154.23M	-60.92M	180.52M	-40.1M	-8.21M	97.8M	278.84M	346.75M	393.08M
FCF Margin %	-0.01%	0.11%	-0.04%	0.13%	-0.03%	-0.01%	0.14%	0.2%	0.25%	0.21%
FCF Growth %	-	23.46%	-1.4%	3.96%	-1.22%	0.8%	12.91%	1.85%	0.24%	0.13%
FCF per Share	-0.05	1.04	-0.38	1.01	-0.25	-0.05	0.61	1.73	2.16	2.44
FCF Conversion (FCF/Net Income)	0.02x	4.88x	-0.78x	26.90x	3.95x	-0.00x	-0.66x	1.71x	1.49x	1.43x
Interest Paid	38.33M	48.56M	106.95M	70.64M	78.83M	41.15M	86.11M	111.39M	83.79M	96.17M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.65%	4.12%	7.93%	0.71%	-0.48%	-36.12%	-20.24%	20.56%	28.75%	24.35%
Return on Invested Capital (ROIC)	11.81%	14.49%	14.73%	10.76%	10.86%	-2.63%	-3.16%	9.47%	21.73%	16.65%
Gross Margin	36.05%	37.13%	34.61%	31.88%	26.96%	-7.61%	11.97%	30.14%	34.53%	33.03%
Net Margin	8.89%	2.47%	4.03%	0.5%	-0.37%	-59.59%	-22.6%	12.2%	17.11%	15.34%
Debt / Equity	1.30x	1.38x	1.86x	0.92x	1.02x	1.69x	1.88x	1.71x	1.68x	0.77x
Interest Coverage	3.67x	1.45x	1.68x	2.79x	3.08x	-0.71x	-0.61x	1.42x	5.45x	4.16x
FCF Conversion	0.02x	4.88x	-0.78x	26.90x	3.95x	-0.00x	-0.66x	1.71x	1.49x	1.43x
Revenue Growth	-	15.1%	15.28%	-9.46%	9.29%	-61.03%	16.39%	95.03%	1.55%	31.66%

Frequently Asked Questions

Valuation & Price

Corporación América Airports S.A. (CAAP) has a price-to-earnings (P/E) ratio of 14.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Corporación América Airports S.A. (CAAP) reported $1.93B in revenue for fiscal year 2024. This represents a 62% increase from $1.19B in 2015.

Corporación América Airports S.A. (CAAP) grew revenue by 31.7% over the past year. This is strong growth.

Yes, Corporación América Airports S.A. (CAAP) is profitable, generating $182.9M in net income for fiscal year 2024 (15.3% net margin).

Dividend & Returns

Corporación América Airports S.A. (CAAP) has a return on equity (ROE) of 24.3%. This is excellent, indicating efficient use of shareholder capital.

Corporación América Airports S.A. (CAAP) generated $353.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.