Grupo Aeroportuario del Sureste, S.A. de C.V. (ASR) vs Corporacion America Airports S.A. (CAAP)

Grupo Aeroportuario del Sureste, S.A. de C.V. and Corporacion America Airports S.A. are both Airports & Air Services companies. Grupo Aeroportuario del Sureste, S.A. de C.V. is the larger, with a market value of $6.5B against $4.0B — 1.6× the size. Grupo Aeroportuario del Sureste, S.A. de C.V. trades at the lower P/E: 12.9× against 14.1×. Grupo Aeroportuario del Sureste, S.A. de C.V. grew revenue faster over the last twelve months: 22.5% against 9.93%. Grupo Aeroportuario del Sureste, S.A. de C.V. has the higher net margin (26.3% vs 13.6%) and the higher return on invested capital (15.9% vs 14.9%). Both pay a dividend; Corporacion America Airports S.A. yields more (3.62% vs 2.41%). Across the 23 metrics below, Grupo Aeroportuario del Sureste, S.A. de C.V. leads on 16 and Corporacion America Airports S.A. on 7.

Valuation

Metric ASR CAAP Airports & Air Services median
P/E 12.86 14.10 —
P/S 3.40 1.96 2.68
P/B 2.59 2.14 2.56
Price to free cash flow 23.44 9.10 —
EV/EBITDA 7.24 8.34 8.55
EV/Sales 3.76 2.06 2.91
Earnings yield 7.77% 7.09% 1.90%
Free cash flow yield 4.27% 10.99% (1.78%)

Profitability

Metric ASR CAAP Airports & Air Services median
Gross margin 45.12% 34.54% 34.42%
Operating margin 42.49% 24.27% 12.44%
Net margin 26.28% 13.63% 6.20%
Free cash flow margin 14.50% 21.56% 5.08%
Return on equity 22.51% 16.39% 24.83%
Return on assets 11.98% 6.24% 2.84%
Return on invested capital 15.89% 14.89% 5.66%

Growth

Metric ASR CAAP Airports & Air Services median
Revenue growth (TTM) 22.52% 9.93% 12.21%
EPS growth (last fiscal year) (10.63%) (13.07%) 10.67%
Revenue growth, 5-year CAGR 26.84% 26.43% 26.64%
Net income growth, 5-year CAGR 42.71% 0.00% 1.16%

Health

Metric ASR CAAP Airports & Air Services median
Debt to equity 0.55 0.55 0.48
Current ratio 3.29 1.51 1.31
Net debt to EBITDA 0.71 0.74 0.72

Dividend

Metric ASR CAAP Airports & Air Services median
Dividend yield 2.41% 3.62% —
Payout ratio 0.31 0.51 —

Size

Metric ASR CAAP Airports & Air Services median
Market cap 6.51b 4.02b 3.93b

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