The company has significantly strengthened its financial position, reducing the debt-to-equity ratio to 0.58 in 2026Q1 from 1.68 in 2023Q4 while expanding the equity base to $1.8 billion.
| Total Current Assets | 1.05B | 985.04M | 765.51M | 749.91M | 647.47M | 626.32M | 519.99M | 507.64M | 532.74M | 579.48M | 507.13M | 394.72M |
| Cash & Short-Term Investments | 772.38M | 714.84M | 524.67M | 457.87M | 451.96M | 451.08M | 354.93M | 279.45M | 325.84M | 261.4M | 246.92M | 227.41M |
| Cash Only | 666.23M | 592.76M | 439.85M | 369.85M | 385.26M | 375.78M | 281.03M | 195.7M | 244.87M | 221.6M | 212.99M | 184.24M |
| Short-Term Investments | 106.16M | 122.08M | 84.82M | 78.37M | 66.7M | 75.3M | 73.9M | 83.75M | 80.98M | 39.8M | 33.94M | 43.17M |
| Accounts Receivable | 259.14M | 237.63M | 157.55M | 271.23M | 174.89M | 159.73M | 89.96M | 119.95M | 133.19M | 136.36M | 114.72M | 144.62M |
| Days Sales Outstanding | 42.45 | 44.2 | 31.2 | 70.71 | 46.3 | 82.47 | 54.06 | 28.09 | 34.09 | 31.6 | 30.64 | 44.47 |
| Inventory | 17.43M | 14.73M | 11.41M | 16.15M | 15.77M | 0 | 8.02M | 11.3M | 9.77M | 8.56M | 7.66M | 8.22M |
| Days Inventory Outstanding | 3.92 | 4.23 | 3.37 | 6.44 | 5.98 | - | 4.48 | 3.62 | 3.67 | 3.03 | 3.26 | 3.95 |
| Other Current Assets | 137K | 137K | 70.66M | 0 | 0 | 137K | 63.73M | 107.56M | 57.86M | 183.91M | 158.02M | -8.27M |
| Total Non-Current Assets | 3.74B | 3.46B | 3.42B | 2.79B | 3.19B | 2.99B | 2.89B | 3.37B | 3.31B | 3.22B | 3.12B | 2.88B |
| Property, Plant & Equipment | 90.22M | 95.05M | 87.72M | 85.41M | 83.93M | 88.38M | 94.28M | 87.99M | 74.3M | 74.48M | 65.98M | 71.69M |
| Fixed Asset Turnover | 22.67x | 20.64x | 21.01x | 16.39x | 16.43x | 8.00x | 6.44x | 17.71x | 19.19x | 21.15x | 20.71x | 16.56x |
| Goodwill | 9.72M | 9.92M | 8.79M | 9.29M | 9M | 9.54M | 5.73M | 55.51M | 56.5M | 56.74M | 55.71M | 56.4M |
| Intangible Assets | 3.4B | 3.13B | 3.15B | 2.51B | 2.95B | 2.73B | 2.61B | 2.95B | 2.88B | 2.76B | 2.77B | 2.55B |
| Long-Term Investments | 542.27M | 157.65M | 100.6M | 79.06M | 8.84M | 21.54M | 11.56M | 15.73M | 16.6M | 15.94M | 11.65M | 29.53M |
| Other Non-Current Assets | 65.84M | 60.31M | 58.79M | 43.92M | 80.67M | 72.56M | 90.3M | 121.28M | 134.61M | 177.64M | 118.07M | 117.34M |
| Total Assets | 4.79B | 4.45B | 4.18B | 3.54B | 3.84B | 3.62B | 3.41B | 3.88B | 3.85B | 3.8B | 3.63B | 3.27B |
| Asset Turnover | 0.47x | 0.44x | 0.44x | 0.40x | 0.36x | 0.20x | 0.18x | 0.40x | 0.37x | 0.41x | 0.38x | 0.36x |
| Asset Growth % | 22.7% | 6.39% | 18.05% | -7.66% | 5.94% | 6.31% | -12.28% | 0.96% | 1.16% | 4.8% | 10.87% | - |
| Total Current Liabilities | 748.24M | 728.51M | 603.73M | 685.93M | 676.32M | 842.29M | 552.55M | 562.3M | 450.55M | 732.02M | 662.78M | 482.04M |
| Accounts Payable | 116.57M | 131.16M | 120.76M | 112.77M | 124.1M | 116.24M | 150.85M | 148.76M | 114.64M | 127.81M | 113.54M | 121.16M |
| Days Payables Outstanding | 32.59 | 37.62 | 35.62 | 45 | 47.04 | 68.17 | 84.24 | 47.69 | 43.07 | 45.29 | 48.24 | 58.25 |
| Short-Term Debt | 148.45M | 139.36M | 115.37M | 199.69M | 178.02M | 421.27M | 216.41M | 175.12M | 98.91M | 372.79M | 141.57M | 127.25M |
| Deferred Revenue (Current) | 28.72M | 13.82M | 5.03M | 26.71M | 5.1M | 4.72M | 4.52M | 4.85M | 6.03M | 6.12M | 13.94M | 15.05M |
| Other Current Liabilities | 17.48M | 17.25M | 358.87M | 23.65M | 58.92M | 247.26M | 154.23M | 187.3M | 155.44M | 161.61M | 294.28M | 177.96M |
| Current Ratio | 1.40x | 1.35x | 1.27x | 1.09x | 0.96x | 0.74x | 0.94x | 0.90x | 1.18x | 0.79x | 0.77x | 0.82x |
| Quick Ratio | 1.38x | 1.33x | 1.25x | 1.07x | 0.93x | 0.74x | 0.93x | 0.88x | 1.16x | 0.78x | 0.75x | 0.80x |
| Cash Conversion Cycle | 13.78 | 10.81 | -1.06 | 32.15 | 5.24 | - | -25.7 | -15.98 | -5.32 | -10.66 | -14.34 | -9.83 |
| Total Non-Current Liabilities | 2.16B | 2.06B | 2.06B | 2.05B | 2.3B | 2B | 2.05B | 2.12B | 2.17B | 2.27B | 2.16B | 1.96B |
| Long-Term Debt | 936.9M | 955.86M | 1.04B | 1.13B | 1.29B | 1.02B | 1.13B | 1.03B | 1.03B | 1.11B | 965.67M | 960.32M |
| Capital Lease Obligations | 22.65M | 5.41M | 7.01M | 10.29M | 5.53M | 8.48M | 10.21M | 5.78M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.66B | 400.58M | 383.37M | 137.31M | 232.46M | 227.42M | 171.29M | 233.12M | 271.18M | 148.3M | 144.39M | 145.78M |
| Other Non-Current Liabilities | 748.06M | 689.27M | 618.09M | 757.61M | 757.78M | 736.02M | 722.44M | 827.77M | 848.34M | 978.18M | 1.02B | 831.72M |
| Total Liabilities | 2.91B | 2.79B | 2.66B | 2.74B | 2.97B | 2.85B | 2.6B | 2.68B | 2.62B | 3B | 2.82B | 2.44B |
| Total Debt | 1.09B | 1.1B | 1.17B | 1.35B | 1.47B | 1.45B | 1.36B | 1.22B | 1.13B | 1.49B | 1.11B | 1.09B |
| Net Debt | 427.64M | 512.19M | 728.94M | 977.37M | 1.09B | 1.08B | 1.08B | 1.02B | 881.79M | 1.26B | 894.25M | 903.33M |
| Debt / Equity | 0.58x | 0.67x | 0.77x | 1.68x | 1.71x | 1.88x | 1.69x | 1.02x | 0.92x | 1.86x | 1.38x | 1.30x |
| Debt / EBITDA | 1.41x | 1.53x | 1.83x | 2.37x | 3.22x | 10.33x | 36.63x | 3.00x | 2.37x | 2.93x | 2.44x | 3.14x |
| Net Debt / EBITDA | 0.55x | 0.71x | 1.14x | 1.72x | 2.38x | 7.66x | 29.05x | 2.52x | 1.86x | 2.49x | 1.97x | 2.61x |
| Interest Coverage | 5.26x | 4.16x | 6.65x | 3.00x | 2.10x | 0.27x | -2.68x | 1.06x | 0.93x | 1.04x | 0.94x | 1.62x |
| Total Equity | 1.88B | 1.66B | 1.52B | 803.91M | 862.37M | 773.61M | 805.29M | 1.2B | 1.22B | 797.14M | 803.32M | 834.1M |
| Equity Growth % | 40.09% | 9.41% | 88.82% | -6.78% | 11.47% | -3.93% | -32.82% | -1.97% | 53.39% | -0.77% | -3.69% | - |
| Book Value per Share | 11.48 | 10.22 | 9.42 | 5.00 | 5.36 | 4.82 | 5.03 | 7.49 | 6.86 | 4.98 | 5.42 | 5.63 |
| Total Shareholders' Equity | 1.8B | 1.59B | 1.37B | 724.98M | 716.1M | 469.73M | 489.41M | 763.89M | 768.24M | 461.78M | 449.15M | 462.76M |
| Common Stock | 165.22M | 165.22M | 163.22M | 163.22M | 163.22M | 163.22M | 163.22M | 160.02M | 160.02M | 1.5B | 20K | 20K |
| Retained Earnings | 1.04B | 964.64M | 718.51M | 438.77M | 201.19M | 32.69M | 150.2M | 403.25M | 394.16M | 138.03M | 74.54M | 40.79M |
| Treasury Stock | -3.92M | -3.92M | -4.09M | -4.32M | -4.6M | -4.77M | -6.14M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 380.44M | 239.2M | 308.2M | -56.13M | 172.85M | 95.16M | -1.3M | 20.13M | 33.58M | -1.18B | 374.59M | 421.95M |
| Minority Interest | 76.64M | 74.17M | 148.69M | 78.93M | 146.27M | 303.88M | 315.88M | 434.73M | 454.45M | 335.36M | 354.17M | 371.34M |
Argentine sovereign regulatory exposure
According to the provided balance sheet data, CAAP has significantly improved its financial position, with total equity rising from $725.0 million in 2023Q4 to $1.8 billion by 2026Q1, signaling a strengthening trajectory driven by consistent earnings retention and a reduction in overall debt obligations.
The expansion of the equity base suggests that the company is successfully deleveraging while simultaneously scaling its operations. This trend indicates a more resilient balance sheet capable of absorbing potential macroeconomic shocks in its core Argentine market.
As reported in the quarterly financial statements, CAAP has successfully reduced its debt-to-equity ratio from a high of 1.68 in 2023Q4 to 0.58 in 2026Q1, reflecting a disciplined approach to capital structure management that appears to prioritize long-term solvency over aggressive debt-funded expansion.
The consistent decline in the D/E ratio suggests that management is utilizing strong operating cash flows to pay down debt, which may lower interest expense and improve net margins over time. Investors should monitor whether this deleveraging trend continues as the company navigates its long-term concession commitments.
Based on the reported figures, CAAP's current ratio has improved from 1.09 in 2023Q4 to 1.40 in 2026Q1, while cash reserves have grown to $666.2 million, providing a more substantial buffer against the inherent cyclicality and working capital swings typical of the airport infrastructure sector.
The increase in cash and current assets relative to liabilities suggests an improved ability to meet short-term obligations without relying on external financing. This liquidity profile appears adequate to support ongoing maintenance requirements and potential operational disruptions in the regional aviation market.
A critical review of the balance sheet reveals that the 2024Q3 goodwill spike to $3.2 billion, followed by a sharp reversal, suggests significant accounting volatility that may obscure the true valuation of intangible concession assets and the underlying risks associated with hyperinflationary reporting standards.
The extreme fluctuation in goodwill warrants further investigation, as it may indicate periodic impairment testing or adjustments related to the complex accounting for concession rights. Analysts should look past these non-cash accounting entries to focus on the tangible cash-generating capacity of the airport network.
Quick answers to the most common questions about buying CAAP stock.
As of 2025, Corporación América Airports S.A. (CAAP) had total assets of $4.45B including $985.0M in current assets.
Corporación América Airports S.A. (CAAP) carries total debt of $1.10B, offset by $714.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Corporación América Airports S.A. (CAAP) has total shareholders' equity (book value) of $1.59B ($10.22 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Corporación América Airports S.A. (CAAP) reported a current ratio of 1.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.