Added to YB: 2026-08-11
Pitch date: 2026-08-07
AENA.MC [neutral]
Aena S.M.E., S.A.
-1.04%
current return
Author Info
Company Info
Aena S.M.E., S.A., together with its subsidiaries, engages in the management of airports in Spain, Brazil, the United Kingdom, Mexico, and Colombia.
Market Cap
EUR 40.2B
Pitch Price
EUR 26.98
Price Target
N/A
Dividend
4.06%
EV/EBITDA
12.19
P/E
18.01
EV/Sales
7.07
Sector
Transportation Infrastructure
Category
N/A
22.1# AENA: the invisible toll
AENA.MC (overview): Spanish airport near-monopoly, natural moat via irreplaceable infrastructure/land at key tourist gateways. Dual model: high-margin regulated aeronautical (toll per passenger) + retail w/ Guaranteed Minimum Rent (low risk, high margin). Fixed costs = strong operating leverage/FCF. Key risk: State's 51% control via DORA regulation—capped fees, forced low-traffic airport capex, politics over capital discipline draining minority holders.
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