CAAP

MKT CAP:$4B

Corporación América Airports S.A.

Market Cap

$4B

Industrials·Airlines, Airports & Air Services·🇱🇺 Luxembourg·NYSE

Industrials·Airlines,·🇱🇺·NYSE

Stock Price

$24.92-$1.65 (-6.21%)

Apr 24, 2026

Company Details

Corporación América Airports S.A., through its subsidiaries, acquires, develops, and operates airport concessions. It operates 53 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports Internationa...

CEO

Martin Francisco Antranik Eurnekian Bonnarens

IPO Date

Feb 1, 2018

Website

www.caap.aero

Key Metrics TTM

Revenue

$1.8B

+28.3% YoY

Net Income

$152M

EPS (Diluted)

$0.91

Free Cash Flow

$342M

Revenue / Share

$11.21

Gross Margin

31.7%

Operating Margin

20.9%

Net Margin

8.3%

FCF Margin

18.7%

P/S

2.2x

P/E

26.8x

Earnings Reports

Q2 2025

Aug 11, 2025

$477M+14.6%EPS $0.30

FY 2024

Mar 27, 2025

$1.8B+31.7%EPS $1.76

Q4 2024

Mar 11, 2025

$473MEPS $0.21

Q3 2024

Nov 20, 2024

$462M-1.6%EPS $0.09

Q2 2024

Aug 12, 2024

$416MEPS $0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 17	$417M	$134M	$82M
Q1 18	$391M	$149M	$106M
Q3 18	$348M	$119M	$83M
Q3 19	$417M	$112M	$59M
Q1 20	$303M	$65M	$33M
Q2 20	$82M	-$56M	-$77M
Q3 20	$98M	-$47M	-$61M
Q4 20	$132M	-$15M	-$42M
Q3 21	$187M	$29M	$6M
Q3 22	$395M	$126M	$89M
Q4 22	$373M	$105M	$62M
Q3 23	$470M	$174M	$133M
Q2 24	$416M	$129M	$86M
Q3 24	$462M	$141M	$95M
Q4 24	$473M	$146M	$89M
Q2 25	$477M	$163M	$113M

Valuation

Quarter	P/S	P/E
Q4 17	1.7x	68.7x
Q1 18	1.2x	27.0x
Q3 18	0.9x	56.9x
Q3 19	0.5x	—
Q1 20	0.2x	—
Q2 20	0.3x	—
Q3 20	0.4x	—
Q4 20	1.0x	—
Q3 21	1.8x	—
Q3 22	1.4x	—
Q4 22	1.4x	142.5x
Q3 23	1.5x	22.7x
Q2 24	1.6x	16.5x
Q3 24	1.6x	23.6x
Q4 24	1.7x	20.5x
Q2 25	1.8x	21.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 17	-$115M	-$120M
Q1 18	$29M	$28M
Q3 18	$47M	$44M
Q3 19	-$46M	-$48M
Q1 20	$4M	$1M
Q2 20	-$6M	-$8M
Q3 20	-$5M	-$8M
Q4 20	$8M	$6M
Q3 21	$46M	$45M
Q3 22	$78M	$76M
Q4 22	$108M	$105M
Q3 23	$150M	$147M
Q2 24	$94M	$92M
Q3 24	$111M	$108M
Q4 24	$35M	$30M
Q2 25	$115M	$111M

Capital Expenditures

Quarter	CapEx
Q4 17	$5M
Q1 18	$2M
Q3 18	$2M
Q3 19	$1M
Q1 20	$3M
Q2 20	$2M
Q3 20	$3M
Q4 20	$2M
Q3 21	$1M
Q3 22	$2M
Q4 22	$4M
Q3 23	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$5M
Q2 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 18	+1.7%	-10.7%
Q3 18	-1.6%	+2.3%
Q3 19	+8.7%	+18.1%
Q1 20	-27.3%	-19.1%
Q2 20	-79.1%	-44.4%
Q3 20	-72.0%	-39.9%
Q4 20	-68.5%	-51.6%
Q3 21	-38.3%	-33.1%
Q3 22	+383.9%	+93.2%
Q4 22	+281.8%	+95.6%
Q3 23	+257.0%	+93.9%
Q2 24	+122.7%	+82.5%
Q3 24	+16.8%	+19.8%
Q4 24	+27.1%	+23.8%
Q2 25	+1.5%	+8.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 17	$0	0.0%
Q1 18	$0	0.0%
Q3 18	$0	0.0%
Q3 19	$0	0.0%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q3 21	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$188.0K	0.1%
Q3 23	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$270.0K	0.1%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q4 17	$52M
Q1 18	$42M
Q3 18	$35M
Q3 19	$53M
Q1 20	$32M
Q2 20	$21M
Q3 20	$14M
Q4 20	$37M
Q3 21	$21M
Q3 22	$36M
Q4 22	$42M
Q3 23	$40M
Q2 24	$42M
Q3 24	$45M
Q4 24	$55M
Q2 25	$51M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$479M	$167M	$646M
Q2 22	$335M	$113M	$448M
Q3 22	$348M	$68M	$417M
Q4 22	$385M	$67M	$452M
Q1 23	$396M	$54M	$450M
Q2 23	$443M	$63M	$506M
Q3 23	$463M	$89M	$552M
Q4 23	$370M	$88M	$458M
Q1 24	$470M	$75M	$545M
Q2 24	$439M	$109M	$549M
Q3 24	$511M	$91M	$602M
Q4 24	$440M	$85M	$525M
Q1 25	$449M	$75M	$524M
Q2 25	$497M	$98M	$595M
Q3 25	$540M	$121M	$661M
Q4 25	$593M	$122M	$715M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 17	160M	+8.0%	—
Q1 18	155M	-3.0%	+4.8%
Q3 18	160M	+3.1%	+8.0%
Q3 19	160M	0.0%	+8.0%
Q1 20	160M	0.0%	-0.0%
Q2 20	160M	0.0%	+3.1%
Q3 20	160M	0.0%	0.0%
Q4 20	161M	+0.4%	+0.4%
Q3 21	161M	-0.0%	+0.4%
Q3 22	161M	+0.1%	+0.5%
Q4 22	161M	+0.0%	+0.5%
Q3 23	161M	+0.1%	+0.2%
Q2 24	162M	+0.7%	+0.9%
Q3 24	163M	+0.6%	+1.4%
Q4 24	180M	+10.3%	+11.9%
Q2 25	163M	-9.4%	+1.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 17	$69M	6
Q1 18	$65M	6
Q3 18	$58M	6
Q3 19	$70M	6
Q1 20	$50M	6
Q2 20	$14M	6
Q3 20	$16M	6
Q4 20	$26M	5
Q3 21	$37M	5
Q3 22	$79M	5
Q4 22	$62M	6
Q3 23	$78M	6
Q2 24	$68.2K	6K
Q3 24	$75.7K	6K
Q4 24	$77.6K	6K
Q2 25	$78.2K	6K

Revenue / Employee