Corporacion America Airports S.A.
CAAP Industrials Airports & Air Services
Corporacion America Airports S.A.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 6.45% from fiscal 2024. In the quarter to June 2026, revenue grew 12.0%, EPS grew 6.67%, free cash flow fell 11.9% and total debt fell 5.81%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
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Corporacion America Airports S.A. (CAAP) Piotroski F-score
Corporacion America Airports S.A.'s Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, down from 7 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 6 | (1.00) |
| FY2024 | 7 | (1.00) |
| FY2023 | 8 | 1.00 |
| FY2022 | 7 | 1.00 |
| FY2021 | 6 | 2.00 |
| FY2020 | 4 | 0.00 |
| FY2019 | 4 | (1.00) |
| FY2018 | 5 | 0.00 |
| FY2017 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 5.74% | 7.32% | Pass | 1 |
| Positive operating cash flow | 465.22m | 405.30m | Pass | 1 |
| Rising return on assets | 5.74% | 7.32% | Fail | 0 |
| Cash flow above net income | 217.49m | 122.63m | Pass | 1 |
| Falling long-term leverage | 0.22 | 0.27 | Pass | 1 |
| Rising current ratio | 1.35 | 1.27 | Pass | 1 |
| No new shares issued | 162,293,000 | 161,012,000 | Fail | 0 |
| Rising gross margin | 35.15% | 32.87% | Pass | 1 |
| Rising asset turnover | 0.45 | 0.48 | Fail | 0 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| SOAR Volato Group, Inc. compare | 7 |
| OMAB Grupo Aeroportuario del Centro Norte S.A.B. de C.V. compare | 7 |
| PAC Grupo Aeroportuario Del Pacifico, S.A. de C.V. compare | 6 |
| CAAP Corporacion America Airports S.A. | 6 |
| ASR Grupo Aeroportuario del Sureste, S.A. de C.V. compare | 5 |
| JOBY Joby Aviation, Inc. compare | 4 |
| ASLE AerSale Corporation compare | 4 |
| UP Wheels Up Experience Inc. compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover