Latest Ratios: P/E Ratio 16.9x · EV/EBITDA 6.5x · ROE 15.6%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.2B | $4.2B | $3.0B | $2.6B | $1.4B | $926M | $638M | $960M | $1.2B | — | — |
| Enterprise Value | $4.7B | $4.7B | $3.7B | $3.6B | $2.5B | $2.0B | $1.7B | $2.0B | $2.1B | — | — |
| P/E Ratio → | 16.89 | 17.11 | 10.60 | 10.78 | 8.31 | — | — | — | 165.75 | — | — |
| P/S Ratio | 2.13 | 2.15 | 1.63 | 1.85 | 1.02 | 1.31 | 1.05 | 0.62 | 0.83 | — | — |
| P/B Ratio | 2.51 | 2.54 | 1.98 | 3.21 | 1.63 | 1.20 | 0.79 | 0.80 | 0.97 | — | — |
| P/FCF | 9.38 | 9.46 | 7.65 | 7.45 | 5.03 | 9.47 | — | — | 6.54 | — | — |
| P/OCF | 9.00 | 9.08 | 7.42 | 7.25 | 4.88 | 8.78 | 865.16 | — | 6.16 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.41 | 2.03 | 2.54 | 1.81 | 2.83 | 2.83 | 1.27 | 1.45 | — | — |
| EV / EBITDA | 6.49 | 6.54 | 5.85 | 6.25 | 5.44 | 14.25 | 46.26 | 4.88 | 4.34 | — | — |
| EV / EBIT | 9.49 | 11.18 | 5.23 | 11.97 | 7.03 | 57.43 | — | 18.37 | 20.67 | — | — |
| EV / FCF | — | 10.61 | 9.51 | 10.27 | 8.94 | 20.47 | — | — | 11.43 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.2% | 35.2% | 32.9% | 34.7% | 30.2% | 12.0% | -7.6% | 27.0% | 31.9% | 34.6% | 37.1% |
| Operating Margin | 25.2% | 25.2% | 23.6% | 29.8% | 20.7% | -2.8% | -27.0% | 14.3% | 21.0% | 23.4% | 24.3% |
| Net Profit Margin | 12.6% | 12.6% | 15.3% | 17.1% | 12.2% | -16.7% | -41.7% | 0.6% | 0.5% | 4.0% | 2.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | 24.3% | 28.7% | 20.6% | -14.9% | -25.3% | 0.8% | 0.7% | 7.9% | 4.1% |
| ROA | 5.7% | 5.7% | 7.3% | 6.5% | 4.5% | -3.4% | -6.9% | 0.2% | 0.2% | 1.7% | 1.0% |
| ROIC | 16.8% | 16.8% | 16.2% | 16.8% | 11.3% | -0.8% | -6.0% | 7.8% | 10.8% | 14.7% | 14.5% |
| ROCE | 13.6% | 13.6% | 13.5% | 13.9% | 9.6% | -0.7% | -5.3% | 6.7% | 9.3% | 12.2% | 11.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.67 | 0.67 | 0.77 | 1.68 | 1.71 | 1.88 | 1.69 | 1.02 | 0.92 | 1.86 | 1.38 |
| Debt / EBITDA | 1.53 | 1.53 | 1.83 | 2.37 | 3.22 | 10.33 | 36.63 | 3.00 | 2.37 | 2.93 | 2.44 |
| Net Debt / Equity | — | 0.31 | 0.48 | 1.22 | 1.26 | 1.39 | 1.34 | 0.85 | 0.72 | 1.59 | 1.11 |
| Net Debt / EBITDA | 0.71 | 0.71 | 1.14 | 1.72 | 2.38 | 7.66 | 29.05 | 2.52 | 1.86 | 2.49 | 1.97 |
| Debt / FCF | — | 1.15 | 1.85 | 2.82 | 3.91 | 11.00 | — | — | 4.88 | — | 5.80 |
| Interest Coverage | 4.16 | 4.16 | 6.65 | 3.00 | 2.10 | 0.27 | -2.68 | 1.06 | 0.93 | 1.04 | 0.94 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.35 | 1.35 | 1.27 | 1.09 | 0.96 | 0.74 | 0.94 | 0.90 | 1.18 | 0.79 | 0.77 |
| Quick Ratio | 1.33 | 1.33 | 1.25 | 1.07 | 0.93 | 0.74 | 0.93 | 0.88 | 1.16 | 0.78 | 0.75 |
| Cash Ratio | 0.98 | 0.98 | 0.87 | 0.65 | 0.67 | 0.54 | 0.64 | 0.50 | 0.72 | 0.36 | 0.37 |
| Asset Turnover | — | 0.44 | 0.44 | 0.40 | 0.36 | 0.20 | 0.18 | 0.40 | 0.37 | 0.41 | 0.38 |
| Inventory Turnover | 86.35 | 86.35 | 108.44 | 56.64 | 61.08 | — | 81.54 | 100.73 | 99.44 | 120.27 | 112.09 |
| Days Sales Outstanding | — | 44.20 | 31.20 | 70.71 | 46.30 | 82.47 | 54.06 | 28.09 | 34.09 | 31.60 | 30.64 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.2% | 2.3% | 1.3% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | 247.1% | 210.0% | 37.5% | 147.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 5.8% | 9.4% | 9.3% | 12.0% | — | — | — | 0.6% | — | — |
| FCF Yield | 10.7% | 10.6% | 13.1% | 13.4% | 19.9% | 10.6% | — | — | 15.3% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 12.3% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 12.3% | 0.0% | 0.2% | 2.3% | 1.3% | — | — |
| Shares Outstanding | — | $162M | $161M | $161M | $161M | $161M | $160M | $160M | $178M | $160M | $148M |
Argentine sovereign regulatory exposure
According to current market data, CAAP trades at a forward P/E of 13.10, which appears to incorporate a significant country-specific discount compared to Mexican peers like PAC, which commands a 22.37 multiple, suggesting investors remain cautious regarding the long-term stability of Argentine regulatory and economic environments.
The current EV/EBITDA multiple of 6.46 indicates that the market is pricing in substantial political risk despite the company's recent success in securing long-term concession extensions. This valuation level suggests that the market may be underestimating the cash-generative potential of the business, provided that the regulatory framework remains stable through the next decade.
Based on reported financial statements, CAAP's ROIC has fluctuated between 3.2% and 7.8% over the last ten quarters, a trend that reflects the heavy burden of non-cash amortization charges on concession assets rather than a fundamental inability to generate returns on invested capital within its core infrastructure network.
The volatility in ROIC appears to be driven more by accounting adjustments related to hyperinflationary reporting than by operational inefficiency. Investors should monitor whether the recent recovery in international passenger traffic can drive a sustained expansion in returns as the company moves past its current maintenance-heavy capital cycle.
As reported in recent quarterly filings, CAAP's cash conversion cycle has shown significant variability, ranging from -1 to 67 days, which highlights the sensitivity of the company's liquidity position to the timing of concession fee payments and the inherent volatility of operating in the Argentine market.
The fluctuation in the cash conversion cycle suggests that management faces periodic pressure on working capital, which may necessitate maintaining higher cash balances than would be required in more stable jurisdictions. The company's ability to manage these swings effectively is a critical indicator of its operational resilience during periods of regional economic stress.
According to the provided balance sheet data, CAAP has successfully reduced its debt-to-equity ratio from 1.68 in 2023Q4 to 0.58 in 2026Q1, a significant improvement that suggests a disciplined approach to capital structure management and a reduced reliance on external financing for its ongoing infrastructure maintenance requirements.
This deleveraging trend is particularly noteworthy given the high-interest-rate environment, as it lowers the company's interest coverage risk and provides a more robust buffer against potential currency volatility. The current debt profile appears increasingly sustainable, provided that the company continues to prioritize debt reduction over aggressive, debt-funded expansion projects.
Based on an analysis of the company's financial structure, the P/E ratio is the most commonly misapplied metric for CAAP, as it fails to account for the massive non-cash amortization charges and hyperinflationary accounting distortions that frequently obscure the company's true underlying cash-generative capacity and operational performance.
Investors should instead focus on EV/EBITDA and Free Cash Flow metrics to better assess the company's ability to service debt and fund future capital expenditures. Relying on net income-based multiples risks misinterpreting the company's financial health by focusing on accounting noise rather than the actual cash flows generated by its concession assets.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying CAAP stock.
Corporación América Airports S.A.'s current P/E ratio is 16.9x. The historical average is 42.5x. This places it at the 60th percentile of its historical range.
Corporación América Airports S.A.'s current EV/EBITDA is 6.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.7x.
Corporación América Airports S.A.'s return on equity (ROE) is 15.6%. The historical average is 6.8%.
Based on historical data, Corporación América Airports S.A. is trading at a P/E of 16.9x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Corporación América Airports S.A. has 35.2% gross margin and 25.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Corporación América Airports S.A.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.