AerSale Corporation (ASLE) vs Corporacion America Airports S.A. (CAAP)

AerSale Corporation and Corporacion America Airports S.A. are both Airports & Air Services companies. Corporacion America Airports S.A. is the larger, with a market value of $4.0B against $230.0M — 17.5× the size. AerSale Corporation has negative trailing earnings, so its P/E is not meaningful; Corporacion America Airports S.A. trades at 13.9×. Corporacion America Airports S.A. grew revenue faster over the last twelve months: 9.93% against −13.4%. Corporacion America Airports S.A. has the higher net margin (13.6% vs −1.23%) and the higher return on invested capital (14.9% vs 0.28%). Across the 20 metrics below, Corporacion America Airports S.A. leads on 12 and AerSale Corporation on 8.

Valuation

Metric ASLE CAAP Airports & Air Services median
P/E n/m 13.87 —
P/S 0.76 1.93 2.85
P/B 0.55 2.10 2.87
Price to free cash flow n/m 8.95 —
EV/EBITDA 9.34 8.21 9.34
EV/Sales 0.75 2.03 3.08
Earnings yield (1.69%) 7.21% 1.45%
Free cash flow yield (15.42%) 11.17% (6.27%)

Profitability

Metric ASLE CAAP Airports & Air Services median
Gross margin 28.86% 34.54% 39.83%
Operating margin 0.61% 24.27% 12.44%
Net margin (1.23%) 13.63% 6.20%
Free cash flow margin (11.71%) 21.56% 1.40%
Return on equity (0.90%) 16.39% 19.45%
Return on assets (0.56%) 6.24% 2.84%
Return on invested capital 0.28% 14.89% 5.93%

Growth

Metric ASLE CAAP Airports & Air Services median
Revenue growth (TTM) (13.38%) 9.93% 22.71%
EPS growth (last fiscal year) 63.64% (13.07%) 10.67%
Revenue growth, 5-year CAGR 9.92% 26.43% 26.43%
Net income growth, 5-year CAGR 1.16% 0.00% 0.58%

Health

Metric ASLE CAAP Airports & Air Services median
Debt to equity 0.01 0.55 0.48
Current ratio 3.27 1.51 1.30
Net debt to EBITDA (0.12) 0.74 0.72

Dividend

Metric ASLE CAAP Airports & Air Services median
Dividend yield — 3.68% —
Payout ratio — 0.51 —

Size

Metric ASLE CAAP Airports & Air Services median
Market cap 230.04m 4.03b 4.33b

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