Financials Grupo Aeroportuario del Sureste, S. A. B. de C. V. Nyse

Equities

ASR

US40051E2028

Airport Services

Market Closed - Nyse 21:00:02 07/05/2024 BST 5-day change 1st Jan Change
336.6 USD -2.23% Intraday chart for Grupo Aeroportuario del Sureste, S. A. B. de C. V. -2.29% +14.38%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,620 4,968 6,187 7,003 8,806 10,298 - -
Enterprise Value (EV) 2 5,941 5,394 6,424 7,113 8,806 9,884 9,786 9,777
P/E ratio 19.4 x 50.1 x 21.2 x 13.7 x 14.6 x 14.3 x 12.9 x 12.2 x
Yield 2.82% - 2.14% 3.31% - 4.83% 5.15% 4.96%
Capitalization / Revenue 6.39 x 8.04 x 6.79 x 5.1 x 5.91 x 5.45 x 4.81 x 4.69 x
EV / Revenue 6.76 x 8.73 x 7.05 x 5.18 x 5.91 x 5.23 x 4.57 x 4.45 x
EV / EBITDA 11 x 22.6 x 12.8 x 8.09 x 8.84 x 8.7 x 7.57 x 6.92 x
EV / FCF 23.7 x -282 x 20.1 x 12.3 x - 18 x 19.8 x 19.7 x
FCF Yield 4.22% -0.36% 4.97% 8.15% - 5.55% 5.05% 5.08%
Price to Book 3.41 x 2.93 x 3.41 x 3.28 x - 3.55 x 3.42 x 2.97 x
Nbr of stocks (in thousands) 300,000 300,000 300,000 300,000 300,000 300,000 - -
Reference price 3 354.0 329.2 422.8 454.7 497.5 580.1 580.1 580.1
Announcement Date 24/02/20 24/02/21 24/02/22 23/02/23 26/02/24 - - -
1MXN in Million2USD in Million3MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 878.9 617.7 911.2 1,373 1,491 1,890 2,139 2,197
EBITDA 1 539.2 238.8 499.9 879.4 996.6 1,136 1,292 1,413
EBIT 1 443.1 160.3 420 797.3 891.8 984.9 1,137 1,272
Operating Margin 50.42% 25.95% 46.09% 58.06% 59.83% 52.11% 53.16% 57.88%
Earnings before Tax (EBT) 1 400.3 139.7 394.2 764 855.3 981.8 1,135 1,202
Net income 1 285.6 96.5 290.3 541.7 596.1 713 806.1 837.6
Net margin 32.49% 15.62% 31.85% 39.45% 39.99% 37.73% 37.68% 38.13%
EPS 2 18.22 6.574 19.95 33.29 34.01 40.71 45.09 47.54
Free Cash Flow 1 250.9 -19.15 319.5 579.9 - 548.8 494.5 497.1
FCF margin 28.55% -3.1% 35.06% 42.23% - 29.04% 23.11% 22.63%
FCF Conversion (EBITDA) 46.53% - 63.91% 65.95% - 48.29% 38.27% 35.17%
FCF Conversion (Net income) 87.86% - 110.07% 107.05% - 76.97% 61.34% 59.34%
Dividend per Share 2 10.00 - 9.030 15.03 - 28.03 29.86 28.77
Announcement Date 24/02/20 24/02/21 24/02/22 23/02/23 26/02/24 - - -
1USD in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 240.9 329.3 267.3 308.6 315.4 394.6 357.5 365.8 332.8 401.7 434.2 475.9 472.4 484.5
EBITDA 1 144.2 159.4 181.1 197.3 203.8 240.1 251.1 247.2 231.6 243.7 299.1 284.4 282.2 288.9
EBIT 1 127.3 135.3 166.2 181.2 185.2 211.3 222.5 232 202.9 213.4 267.4 249.3 252 266
Operating Margin 52.83% 41.08% 62.18% 58.7% 58.72% 53.55% 62.23% 63.41% 60.97% 53.12% 61.59% 52.38% 53.34% 54.91%
Earnings before Tax (EBT) 1 124.5 127.7 154.3 186.5 175.9 195.3 193.2 212.4 210.4 219.1 264.8 272.5 274.4 282.6
Net income 1 88.82 97.65 108.1 130 127.6 138.9 139.3 145.3 149.5 148.2 180 184.7 186 191.5
Net margin 36.87% 29.65% 40.43% 42.12% 40.45% 35.21% 38.95% 39.71% 44.91% 36.89% 41.45% 38.81% 39.38% 39.54%
EPS 2 5.980 6.710 7.312 8.872 8.488 8.537 8.374 8.149 9.032 8.457 10.27 9.972 10.05 10.42
Dividend per Share 2 8.210 9.030 - 15.03 - - - - - - - 13.27 - 13.27
Announcement Date 25/10/21 24/02/22 25/04/22 25/07/22 24/10/22 23/02/23 24/04/23 24/07/23 23/10/23 26/02/24 22/04/24 - - -
1USD in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 321 426 237 110 - - - -
Net Cash position 1 - - - - - 414 512 521
Leverage (Debt/EBITDA) 0.5945 x 1.784 x 0.4741 x 0.1253 x - - - -
Free Cash Flow 1 251 -19.2 319 580 - 549 494 497
ROE (net income / shareholders' equity) 18.1% 6.09% 16.9% 25.3% - 27.1% 25.2% 20.3%
ROA (Net income/ Total Assets) 9.61% 3.35% 9.48% 14.6% - 16.3% 17.2% -
Assets 1 2,972 2,885 3,062 3,709 - 4,377 4,699 -
Book Value Per Share 2 104.0 112.0 124.0 139.0 - 163.0 169.0 195.0
Cash Flow per Share 2 28.30 9.790 34.20 44.90 - 50.60 58.50 52.20
Capex 1 111 163 178 151 - 254 412 478
Capex / Sales 12.68% 26.37% 19.57% 10.97% - 13.41% 19.26% 21.78%
Announcement Date 24/02/20 24/02/21 24/02/22 23/02/23 26/02/24 - - -
1USD in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
580.1 MXN
Average target price
585.1 MXN
Spread / Average Target
+0.87%
Consensus
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  5. Financials Grupo Aeroportuario del Sureste, S. A. B. de C. V.