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STOCK COMPARISON

Shanghai International Airport Co vs Aena: Fair Value & Quality

Both stocks run through our valuation models. Here is how Shanghai International Airport Co (600009) and Aena (AENA) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Shanghai International Airport Co trades at ¥23.87 versus a fair value of ¥17.09 (-28%), while Aena trades at €25.82 versus €26.90 (+4%).
Shanghai International Airport Co
600009.SHG · CNY · Industrials
-28%
upside to fair value
overvalued
Price¥23.87
Fair Value¥17.09
Quality68/100
Aena
AENA.MC · EUR · Industrials
+4%
upside to fair value
fairly valued
Price€25.82
Fair Value€26.90
Quality69/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Shanghai International Airport CoAena
Valuation
27.2×P/E (TTM)18.2×
4.48×P/S (TTM)7.08×
1.41×P/B4.97×
11.3×EV/EBITDA13.1×
0.48×PEG3.02×
−28.4%Fair value upside+4.2%
2.0%Dividend yield4.2%
¥0.47Dividend per share€1.09
Profitability
17%Operating margin31%
6%Return on equity24%
2%Return on assets10%
Growth
1%Revenue growth (YoY)12%
34.5%Avg. growth/yr (3Y)14.4%
25.4%Avg. growth/yr (5Y)23.5%
−18.9%Value creation/yr+12.4%
Balance & size
4.0×Interest coverage (EBIT/interest)11.3×
0.06×Debt / equity0.53×
$9BMarket cap$46B
mixedGrowth qualityhealthy

Aena leads: 7 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Shanghai International Airport Coof which business quality 67 · market factors 41 Aenaof which business quality 68 · market factors 60
ProfitabilityMargins and returns on capital today
29
63
Quality GrowthAre margins and returns improving?
66
50
CashflowEarnings quality: real cash, not paper profit
93
80
Fin. StrengthBalance sheet, leverage, solvency risk
70
72
InvestmentDisciplined investing over empire-building
78
56
Low VolatilityCalm price path (market factor)
95
81
MomentumPrice trend over the last 3–12 months (market factor)
24
49
52W MomentumDistance to the 52-week high (market factor)
9
57
Net IssuanceBuybacks instead of dilution
72
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyShanghai International Airport CoPrice ¥23.87AenaPrice €25.82
DCF Models+59%above the price¥37.86+12%close to the price€28.85
Earnings-Based-46%below the price¥12.96-45%below the price€14.12
Dividend Discount-61%below the price¥9.33-32%below the price€17.57
Multiples-30%below the price¥16.63+5%close to the price€27.07
Asset-Based-52%below the price¥11.45-84%below the price€4.11
Growth DCF+53%above the price¥36.57-26%below the price€19.22
Economic Profit-39%below the price¥14.45-43%below the price€14.75
Growth Earnings-31%below the price¥16.42-6%close to the price€24.15
Minimum-61%below the price¥9.33-84%below the price€4.11
Maximum+59%above the price¥37.86+12%close to the price€28.85
Median-35%below the price¥15.44-29%below the price€18.39
Geometric mean-28%below the price¥17.17-36%below the price€16.48

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Shanghai International Airport Co: 13 of 26 models see the stock below the current price.

Aena: 15 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Shanghai International Airport Co
Bear ¥12.53Fair Value ¥17.09Bull ¥21.65
¥23.87 = current price (white tick)
Aena
Bear €15.45Fair Value €26.90Bull €36.38
€25.82 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Shanghai International Airport Co · Industrials

Quality score68 · Top 25%
Fair value upside-28% · below median

Aena · Industrials

Quality score69 · Top 25%
Fair value upside+4% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Shanghai International Airport Co trades at ¥23.87 versus a fair value of ¥17.09 (-28%), while Aena trades at €25.82 versus €26.90 (+4%).

Aena has the higher quality score (69/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.