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Corporación América Airports S.A. (CAAP)

NYSE / Industrials / Airlines, Airports & Air Services

Share price

24.66 USD Market dataClose of Oct 15, 2026

Market capitalisation

4.02B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 17, 2026
Ratios computed
Oct 15, 2026
Filed years
10, FY2016 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

18.0% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

16.24x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

11.2% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 1.37B USDFY2016 Net income: 33.8M USDFY2017 Revenue: 1.58B USDFY2017 Net income: 63.5M USDFY2018 Revenue: 1.43B USDFY2018 Net income: 7.1M USDFY2019 Revenue: 1.56B USDFY2019 Net income: 9.1M USDFY2020 Revenue: 607.4M USDFY2020 Net income: -253.1M USDFY2021 Revenue: 706.9M USDFY2021 Net income: -117.8M USDFY2022 Revenue: 1.38B USDFY2022 Net income: 168.2M USDFY2023 Revenue: 1.40B USDFY2023 Net income: 239.5M USDFY2024 Revenue: 1.84B USDFY2024 Net income: 282.7M USDFY2025 Revenue: 1.96B USDFY2025 Net income: 247.7M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
3 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 16.24x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Industrials sector (412 companies), 16.24x sits at the 29th percentile; the middle half of that group runs from 15.04x to 38.40x.

Is it good

Return on invested capital was 18.0% in FY2025, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Industrials sector (316 companies), 18.0% sits at the 82nd percentile; the middle half of that group runs from 3.4% to 15.3%.

Is it safe

Interest coverage was 2.00x in FY2025, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether Corporación América Airports S.A.'s return on equity stayed above the median of the Industrials sector, year by year. (FY2022 to FY2025, 4 fiscal years of Corporación América Airports S.A. with a comparable figure)
The direction
Which way Corporación América Airports S.A.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Corporación América Airports S.A.)
What could explain it
What in Corporación América Airports S.A.'s filed statements could explain the movements. (5 readings drawn from the statement lines Corporación América Airports S.A. filed)
What to check next
What to check next on Corporación América Airports S.A., and where in its filings. (2 questions for Corporación América Airports S.A.)
In one paragraph
One paragraph on Corporación América Airports S.A.'s returns, cash, balance sheet and price. (13 of sixteen figures read for Corporación América Airports S.A.)

These are CAAP’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research CAAPPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 20-F, filed Mar 17, 2026, accession 0001104659-26-029442.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Corporación América Airports S.A: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax18.0% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Return on equity15.6% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Return on capital employed, pre-tax13.1% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Return on assets5.6% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Gross margin35.1% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Operating margin24.9% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Net margin12.6% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
CAAP 12.6%
SKYW 10.6%OMAB 33.2%CPA 18.6%ALK 0.7%ASR 26.0%
0.7%33.2%
Net margin: CAAP against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Corporación América Airports S.A: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.70 ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Current ratio1.35 ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Quick ratio1.33 ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Interest coverage2.00x ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Altman Z-score2.04 ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Net debt512.2M ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Total assets 4.45BTotal liabilities 2.79BShareholders' equity 1.59BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Corporación América Airports S.A owned and owed at the end of fiscal 2025, from the balance sheet it filed (20-F, filed Mar 17, 2026, 0001104659-26-029442).

Corporación América Airports S.A: balance sheet position
Total assets4.45B FiledFY2025 20-F, filed Mar 17, 2026
Total liabilities2.79B FiledFY2025 20-F, filed Mar 17, 2026
Shareholders' equity1.59B FiledFY2025 20-F, filed Mar 17, 2026
Cash592.8M FiledFY2025 20-F, filed Mar 17, 2026
Total debt1.10B FiledFY2025 20-F, filed Mar 17, 2026
Net debt512.2M
Current ratio1.35
Debt to equity0.70

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Corporación América Airports S.A: what the market charges, each with its source
FigureValue, source and document
Price to earnings16.24x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.54x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Price to sales2.05x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Enterprise value to EBIT9.29x ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Diluted earnings per share
Why n/a

The FY2025 filing carries no diluted earnings per share we could read.

n/a FiledFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442

We publish no fair value or price target of our own. Value CAAP on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Corporación América Airports S.A today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Corporación América Airports S.A: valuation
Share price24.66 USD
Market capitalisation4.02B USD
Enterprise value to EBITDAn/a
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Corporación América Airports S.A

  1. SkyWest, Inc. (SKYW)Market cap 3.62B USD
  2. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB)Market cap 4.41B USD
  3. Copa Holdings, S.A. (CPA)Market cap 5.51B USD
  4. Alaska Air Group, Inc. (ALK)Market cap 4.07B USD
  5. Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)Market cap 7.15B USD

Same industry (Airlines, Airports & Air Services) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Corporación América Airports S.A: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield11.2% ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Free cash flow448.5M USD ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Free cash flow margin22.9% ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
FY2016 Free cash flow: 162.4M USDFY2016 Net income: 33.8M USDFY2017 Free cash flow: -60.9M USDFY2017 Net income: 63.5M USDFY2018 Free cash flow: 180.5M USDFY2018 Net income: 7.1M USDFY2019 Free cash flow: -36.8M USDFY2019 Net income: 9.1M USDFY2020 Free cash flow: -8.1M USDFY2020 Net income: -253.1M USDFY2021 Free cash flow: 100.3M USDFY2021 Net income: -117.8M USDFY2022 Free cash flow: 293.5M USDFY2022 Net income: 168.2M USDFY2023 Free cash flow: 346.8M USDFY2023 Net income: 239.5M USDFY2024 Free cash flow: 393.1M USDFY2024 Net income: 282.7M USDFY2025 Free cash flow: 448.5M USDFY2025 Net income: 247.7M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Corporación América Airports S.A.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
16.24xFY2025Oct 15, 2026
2.54xFY2025Oct 15, 2026
9.29xFY2025Oct 15, 2026
11.2%FY2025Oct 15, 2026
18.0%FY2025Mar 17, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.70FY2025Mar 17, 2026
1.35FY2025Mar 17, 2026
2.05xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed income statement reports no earnings per share.
2.04FY2025Oct 15, 2026
-2.47FY2025Mar 17, 2026
7/9FY2025Mar 17, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Corporación América Airports S.A filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Corporación América Airports S.A: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20251.96B488.3M247.7Mn/a448.5M24.9%15.6%20-F, Mar 17, 20260001104659-26-029442
FY20241.84B447.3M282.7Mn/a393.1M24.3%20.6%20-F, Mar 27, 20250001410578-25-000513
FY20231.40B540.6M239.5Mn/a346.8M38.6%33.0%20-F, Mar 28, 20240001410578-24-000331
FY20221.38B304.6M168.2Mn/a293.5M22.1%23.5%20-F, Mar 31, 20230001410578-23-000591
FY2021706.9M6.5M-117.8Mn/a100.3M0.9%-25.1%20-F, Apr 6, 20220001410578-22-000831
FY2020607.4M-163.7M-253.1Mn/a-8.1M-26.9%-51.7%20-F, Apr 9, 20210001104659-21-048754
FY20191.56B223.6M9.1Mn/a-36.8M14.3%1.2%20-F, Apr 8, 20200001104659-20-044659
FY20181.43B299.0M7.1Mn/a180.5M21.0%0.9%20-F, Apr 24, 20190001144204-19-020967
FY20171.58B369.1M63.5Mn/a-60.9M23.4%13.8%20-F, May 25, 20180001144204-18-031067
FY20161.37B331.8M33.8Mn/a162.4M24.3%7.5%20-F, May 25, 20180001144204-18-031067
  • Revenue, compound annual growth FY2016 to FY2025: 4.1%
  • Earnings, compound annual growth FY2016 to FY2025: 24.8%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow, compound annual growth FY2016 to FY2025: 12.0%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Corporación América Airports S.A: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.47 ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Piotroski F-score7/9 ComputedFY2025 20-F, filed Mar 17, 2026, 0001104659-26-029442
Named tests met3 of 30 Computed
Beta0.70 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 3 met, 22 not met, 5 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Earnings yield and ROIC (Joel Greenblatt); Cash-flow yield and ROIC; Clean books, high ROIC
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
High yield, low payout; Dividends and buybacks; ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(11)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 11 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 5 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.