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STOCK COMPARISON

Aena vs Auckland International Airport: Fair Value & Quality

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

As of Sep 5, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Aena trades at €25.82 versus a fair value of €26.90 (+4%), while Auckland International Airport trades at A$7.03 versus A$2.76 (-61%).
Aena
AENA.MC · EUR · Industrials
+4%
upside to fair value
fairly valued
Price€25.82
Fair Value€26.90
Quality69/100
Auckland International Airport
AIA.AU · AUD · Industrials
-61%
upside to fair value
overvalued
PriceA$7.03
Fair ValueA$2.76
Quality49/100
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Head-to-head numbers

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

AenaAuckland International Airport
Valuation
18.2×P/E (TTM)35.6×
7.08×P/S (TTM)8.98×
4.97×P/B0.84×
13.1×EV/EBITDA14.8×
3.02×PEG34.72×
+4.2%Fair value upside−60.7%
4.2%Dividend yield1.9%
€1.09Dividend per shareA$0.14
Profitability
31%Operating margin49%
EBIT margin trend (5Y)0.93×
24%Return on equity4%
10%Return on assets2%
Growth
12%Revenue growth (YoY)6%
14.4%Avg. growth/yr (3Y)48.8%
23.5%Avg. growth/yr (5Y)11.4%
+12.4%Value creation/yr−1.1%
Balance & size
11.3×Interest coverage (EBIT/interest)5.9×
0.53×Debt / equity0.20×
$46BMarket cap$9B
healthyGrowth qualityexpensive

Aena leads: 11 to 4 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.

Aenaof which business quality 68 · market factors 60 Auckland International Airportof which business quality 47 · market factors 60
ProfitabilityMargins and returns on capital today
63
35
Quality GrowthAre margins and returns improving?
50
77
CashflowEarnings quality: real cash, not paper profit
80
36
Fin. StrengthBalance sheet, leverage, solvency risk
72
62
InvestmentDisciplined investing over empire-building
56
33
Low VolatilityCalm price path (market factor)
81
98
MomentumPrice trend over the last 3–12 months (market factor)
49
46
52W MomentumDistance to the 52-week high (market factor)
57
41
Net IssuanceBuybacks instead of dilution
82
45

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 familyAenaPrice €25.82Auckland International AirportPrice A$7.03
DCF Models+12%close to the price€28.85n/a
Earnings-Based-45%below the price€14.12-62%below the priceA$2.65
Dividend Discount-32%below the price€17.57-77%below the priceA$1.59
Multiples+5%close to the price€27.07-49%below the priceA$3.60
Asset-Based-84%below the price€4.11-41%below the priceA$4.14
Growth DCF-26%below the price€19.22n/a
Economic Profit-43%below the price€14.75-60%below the priceA$2.81
Growth Earnings-6%close to the price€24.15-37%below the priceA$4.43
Minimum-84%below the price€4.11-77%below the priceA$1.59
Maximum+12%close to the price€28.85-37%below the priceA$4.43
Median-29%below the price€18.39-54%below the priceA$3.20
Geometric mean-36%below the price€16.48-57%below the priceA$3.03

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%.

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

Auckland International Airport: 15 of 16 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.

Aena
Bear €15.45Fair Value €26.90Bull €36.38
€25.82 = current price (white tick)
Auckland International Airport
Bear A$1.78Fair Value A$2.76Bull A$3.73
A$7.03 = 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.

Aena · Industrials

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

Auckland International Airport · Industrials

Quality score49 · below median
Fair value upside-61% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Aena trades at €25.82 versus a fair value of €26.90 (+4%), while Auckland International Airport trades at A$7.03 versus A$2.76 (-61%).

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.