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CAAP

Corporación América Airports S.A.

CAAP

Corporación América Airports S.A. • NYSE
$25.35 ▲ 5.23% (+1.26)
Market Cap $4.13 B
52w High $25.38
52w Low $15.01
Dividend Yield 0%
P/E 23.26
Volume 244.51K
Outstanding Shares 163.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $476.813M ▲ $48.572M ▼ $49.341M ▲ 10.348% ▲ $0.3 ▲ $141.511M ▼
Q1-2025 $447.818M ▼ $52.436M ▲ $40.772M ▲ 9.105% ▲ $0.25 ▲ $151.567M ▼
Q4-2024 $473.412M ▲ $35.979M ▼ $37.781M ▲ 7.981% ▲ $0.21 ▲ $164.421M ▲
Q3-2024 $461.809M ▲ $42.125M ▼ $14.675M ▼ 3.178% ▼ $0.09 ▼ $125.353M ▼
Q2-2024 $416.248M $42.82M $50.226M 12.066% $0.31 $143.271M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $595.244M ▲ $4.335B ▲ $2.763B ▲ $1.471B ▲
Q1-2025 $523.526M ▼ $4.288B ▲ $2.708B ▲ $1.438B ▲
Q4-2024 $524.667M ▼ $4.181B ▼ $2.663B ▼ $1.369B ▲
Q3-2024 $604.944M ▲ $4.315B ▲ $2.837B ▲ $1.315B ▲
Q2-2024 $548.538M $4.124B $2.694B $1.254B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $49.341M ▲ $115.215M ▲ $-21.357M ▼ $-47.684M ▲ $48.19M ▲ $111.265M ▲
Q1-2025 $39.245M ▲ $80.278M ▲ $-3.564M ▲ $-71.761M ▲ $8.771M ▲ $78.031M ▲
Q4-2024 $37.781M ▲ $35.492M ▼ $-6.608M ▼ $-91.495M ▼ $-71.038M ▼ $30.422M ▼
Q3-2024 $14.675M ▼ $110.923M ▲ $4.827M ▲ $-42.791M ▲ $71.472M ▲ $108.429M ▲
Q2-2024 $50.226M $94.345M $-29.471M $-80.533M $-30.428M $91.994M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last several years and now sits clearly above pre‑pandemic levels. Profitability has improved sharply: the business moved from meaningful losses in 2020–2021 to consistent profits in 2022–2024. Margins have generally expanded as traffic recovered, although the most recent year shows some pressure at the operating level, suggesting higher costs or heavier investment eating into part of the upside. Overall, the income statement shows a mature recovery from the pandemic shock, with healthy earnings but still some sensitivity to cost inflation and local macro conditions.

Balance Sheet

Balance Sheet The balance sheet looks stronger than a few years ago. Debt has been gradually reduced while cash balances have risen, which lowers financial risk compared with the peak of the pandemic. Shareholders’ equity has rebuilt meaningfully thanks to recent profitability, reversing earlier erosion. Total assets are growing, reflecting ongoing investments and expansion. That said, this remains a capital‑intensive, infrastructure‑heavy business, so leverage is still a key factor to watch, especially in volatile countries.

Cash Flow

Cash Flow Cash generation has improved year after year. Operating cash flow has shifted from being close to break‑even during the pandemic to solidly positive, comfortably covering the company’s relatively modest capital spending. As a result, free cash flow has been consistently positive for several years, giving management more flexibility to reduce debt, invest in projects, or weather downturns. One trade‑off is that current capital spending appears quite lean for an infrastructure operator, which could raise questions about the timing and scale of future investment waves.

Competitive Edge

Competitive Edge CAAP benefits from a strong structural position: it operates dozens of airports under long‑term government concessions, which creates high barriers to entry and relatively stable access to traffic and fees. Its network is geographically diversified across South America and parts of Europe, reducing reliance on any single country, though Argentina still plays an outsized role and brings political and currency risk. The company has significant experience operating in emerging markets and is actively expanding commercial areas, cargo, and real estate around its airports, which deepens its ecosystem and makes its sites more valuable over time. However, it remains exposed to air‑travel cycles, regulation, and renegotiation risk on concessions.

Innovation and R&D

Innovation and R&D Innovation is focused on modernizing terminals, improving the passenger experience, and broadening revenue streams rather than on traditional lab‑style R&D. Recent projects include a new, highly modern and renewable‑energy‑powered terminal in Buenos Aires, Latin America’s first bi‑national airport in Uruguay, and digital marketplaces that blend online and in‑airport shopping. CAAP is also investing in upgraded lounges, redesigned retail, cargo facilities for specialized goods, mobility platforms, and real estate developments like malls and logistics hubs around airports. Early moves into vertiports and urban air mobility are strategically bold but still speculative, with benefits likely to be long‑dated and dependent on broader industry adoption and regulation.

Summary

Overall, CAAP shows a clear financial and operational turnaround from the pandemic period: revenues are higher, profitability has recovered, and cash flows are solid. The balance sheet is healthier with lower debt and rebuilt equity, though the business remains inherently leveraged and tied to long‑term infrastructure commitments. Its competitive edge stems from long‑duration concessions, a broad and diversified airport network, and growing non‑aeronautical businesses. At the same time, exposure to emerging‑market politics, regulation, and currency volatility, along with the need for periodic heavy investment cycles, remain key structural risks. The company’s push into digital services, cargo, real estate, and future aviation concepts positions it for potential long‑term growth, but the financial impact and timing of these innovations are still uncertain.

NEWS

November 24, 2025 · 8:31 AM UTC

Corporacion America Airports Reports Third Quarter 2025 Results

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November 21, 2025 · 4:31 PM UTC

Corporación América Airports S.A. Reports October 2025 Passenger Traffic

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November 17, 2025 · 2:20 PM UTC

Corporación América Airports Announces Third Quarter 2025 Financial Results Call and Webcast

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October 23, 2025 · 8:31 AM UTC

Corporación América Airports S.A. Reports September 2025 Passenger Traffic

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September 17, 2025 · 8:31 AM UTC

Corporación América Airports S.A. Reports August 2025 Passenger Traffic

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