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 $3.8B against $262.0M — 14.7× the size. AerSale Corporation has negative trailing earnings, so its P/E is not meaningful; Corporacion America Airports S.A. trades at 13.5×. 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 13.48 —
P/S 0.84 1.88 2.67
P/B 0.61 2.04 2.64
Price to free cash flow n/m 8.70 —
EV/EBITDA 10.37 7.99 9.48
EV/Sales 0.83 1.98 2.90
Earnings yield (1.53%) 7.42% 1.84%
Free cash flow yield (13.90%) 11.49% (2.65%)

Profitability

Metric ASLE CAAP Airports & Air Services median
Gross margin 28.86% 34.54% 34.42%
Operating margin 0.61% 24.27% 12.44%
Net margin (1.23%) 13.63% 6.20%
Free cash flow margin (11.71%) 21.56% 5.08%
Return on equity (0.90%) 16.39% 24.83%
Return on assets (0.56%) 6.24% 2.84%
Return on invested capital 0.28% 14.89% 5.66%

Growth

Metric ASLE CAAP Airports & Air Services median
Revenue growth (TTM) (13.38%) 9.93% 12.21%
EPS growth (last fiscal year) 63.64% (13.07%) —
Revenue growth, 5-year CAGR 9.92% 26.43% 26.64%
Net income growth, 5-year CAGR 1.16% 0.00% 1.16%

Health

Metric ASLE CAAP Airports & Air Services median
Debt to equity 0.01 0.55 0.48
Current ratio 3.27 1.51 1.31
Net debt to EBITDA (0.12) 0.74 0.72

Dividend

Metric ASLE CAAP Airports & Air Services median
Dividend yield — 0.18% —
Payout ratio 0.00 0.00 0.00

Size

Metric ASLE CAAP Airports & Air Services median
Market cap 262.02m 3.84b 4.06b

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