GRUPO AEROPORTUARIO DEL SURESTE, S. A. B. DE C. V. Financials Grupo Aeroportuario del Sureste, S. A. B. de C. V.
Equities
ASUR B
MXP001661018
Airport Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 610.3 MXN | +2.27% |
|
+15.90% | +22.68% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,620 | 4,968 | 6,187 | 7,003 | 8,806 | 10,663 | - | - |
| Enterprise Value (EV) 2 | 5,941 | 5,394 | 6,424 | 7,113 | 8,806 | 10,356 | 10,245 | 10,141 |
| P/E ratio | 19.4 x | 50.1 x | 21.2 x | 13.7 x | 14.6 x | 15.7 x | 13.8 x | 12.8 x |
| Yield | 2.82% | - | 2.14% | 3.31% | - | 3.86% | 4.89% | 4.66% |
| Capitalization / Revenue | 6.39 x | 8.04 x | 6.79 x | 5.1 x | 5.91 x | 5.8 x | 5.07 x | 5.11 x |
| EV / Revenue | 6.76 x | 8.73 x | 7.05 x | 5.18 x | 5.91 x | 5.64 x | 4.88 x | 4.86 x |
| EV / EBITDA | 11 x | 22.6 x | 12.8 x | 8.09 x | 8.84 x | 9.2 x | 8.01 x | 7.29 x |
| EV / FCF | 23.7 x | -282 x | 20.1 x | 12.3 x | - | 18.9 x | 20.7 x | 20.4 x |
| FCF Yield | 4.22% | -0.36% | 4.97% | 8.15% | - | 5.3% | 4.83% | 4.9% |
| Price to Book | 3.41 x | 2.93 x | 3.41 x | 3.28 x | - | 3.62 x | 3.6 x | 2.85 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 | 610.3 | 610.3 | 610.3 |
| Announcement Date | 2/24/20 | 2/24/21 | 2/24/22 | 2/23/23 | 2/26/24 | - | - | - |
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 | 1,837 | 2,101 | 2,088 |
| EBITDA 1 | 539.2 | 238.8 | 499.9 | 879.4 | 996.6 | 1,126 | 1,279 | 1,391 |
| EBIT 1 | 443.1 | 160.3 | 420 | 797.3 | - | 981 | 1,124 | 1,301 |
| Operating Margin | 50.42% | 25.95% | 46.09% | 58.06% | - | 53.39% | 53.51% | 62.29% |
| Earnings before Tax (EBT) 1 | 400.3 | 139.7 | 394.2 | 764 | - | 1,014 | 1,109 | 1,302 |
| Net income 1 | 285.6 | 96.5 | 290.3 | 541.7 | 596.1 | 681.3 | 795.6 | 839.6 |
| Net margin | 32.49% | 15.62% | 31.85% | 39.45% | 39.99% | 37.08% | 37.87% | 40.21% |
| EPS 2 | 18.22 | 6.574 | 19.95 | 33.29 | 34.01 | 38.76 | 44.16 | 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% | - | 29.87% | 23.53% | 23.81% |
| FCF Conversion (EBITDA) | 46.53% | - | 63.91% | 65.95% | - | 48.74% | 38.66% | 35.74% |
| FCF Conversion (Net income) | 87.86% | - | 110.07% | 107.05% | - | 80.55% | 62.15% | 59.2% |
| Dividend per Share 2 | 10.00 | - | 9.030 | 15.03 | - | 23.53 | 29.86 | 28.42 |
| Announcement Date | 2/24/20 | 2/24/21 | 2/24/22 | 2/23/23 | 2/26/24 | - | - | - |
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 | 329.7 | 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 | - | 247 | 249.3 | 252 | 266 |
| Operating Margin | 52.83% | 41.08% | 62.18% | 58.7% | 58.72% | 53.55% | 62.23% | 63.41% | 60.97% | - | 54.99% | 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 | - | 228.2 | 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% | 54.59% | 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 | 10/25/21 | 2/24/22 | 4/25/22 | 7/25/22 | 10/24/22 | 2/23/23 | 4/24/23 | 7/24/23 | 10/23/23 | 2/26/24 | 4/22/24 | - | - | - |
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 | - | - | - | - | - | 307 | 417 | 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% | - | 24.1% | 25.2% | 18.6% |
| 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 | - | 4,182 | 4,637 | - |
| Book Value Per Share 2 | 104.0 | 112.0 | 124.0 | 139.0 | - | 169.0 | 169.0 | 214.0 |
| Cash Flow per Share 2 | 28.30 | 9.790 | 34.20 | 44.90 | - | 42.50 | 58.50 | 52.20 |
| Capex 1 | 111 | 163 | 178 | 151 | - | 252 | 387 | 474 |
| Capex / Sales | 12.68% | 26.37% | 19.57% | 10.97% | - | 13.72% | 18.4% | 22.69% |
| Announcement Date | 2/24/20 | 2/24/21 | 2/24/22 | 2/23/23 | 2/26/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
610.3
MXN
Average target price
592.3
MXN
Spread / Average Target
-2.94%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +22.68% | 10.66B | |
| +14.40% | 12.88B | |
| +1.11% | 12.49B | |
| +6.10% | 9.26B | |
| -11.93% | 6.8B | |
| +6.89% | 6.3B | |
| +12.66% | 6.57B | |
| +38.59% | 3.57B | |
| -8.00% | 2.77B | |
| +49.65% | 2.71B |
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- Financials Grupo Aeroportuario del Sureste, S. A. B. de C. V.
