AUCKLAND INTERNATIONAL AIRPORT LIMITED (AIA)
Share Price Analysis and Chart

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AIA - AUCKLAND INTERNATIONAL AIRPORT LIMITED

FNArena Sector : Infrastructure & Utilities

Year End: June

GICS Industry Group : Transportation

Debt/EBITDA: 3.78

Index: ASX200 | ASX300 | ALL-ORDS

Auckland International Airport Ltd was formed in 1988 when the NZ government privatised the airport. The company is listed on both the ASX and NZX.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$6.86 22 Sep 2025	-0.230 OPEN $7.01	-3.24% HIGH $7.03	698,535 LOW $6.86

OTHER COMPANIES IN THE SAME SECTOR
AGL . ALX . APA . CEN . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	16.7	xxx
DPS (cps)	11.9	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	41.5	xxx
Dividend Yield	1.7%	xxx
Div Pay Ratio(%)	71.6%	xxx

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	16.3	xxx
DPS (cps)	11.6	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	42.5	xxx
Dividend Yield	1.7%	xxx
Div Pay Ratio(%)	71.6%	xxx

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	N/A	18.3	xxx
DPS (cps)	xxx	N/A	13.1	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	71.6%	xxx

This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 18/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	23.6
DPS All	xxx	xxx	xxx	xxx	xxx	14.2
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	883.8 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	575.0
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	377.9 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	43.42 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	4.37 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	3.54 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	3.15 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	4.37 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	3.83 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-617.1 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	352 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1,952 M
Total Debt	xxx	xxx	xxx	xxx	xxx	2,304 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	526 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.25

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	855.4 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	96.79 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	424 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	33 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	3,355 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
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Sentiment Indicator

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No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Citi	xx/xx/xxxx	3	xxxxxxx	-	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	03/09/2025	3	Equal-weight	-	-	Morgan Stanley outlines upcoming catalysts, sustainability metrics, and updated financial estimates for its Australia Infrastructure & Contracted Utilities coverage. Cleanaway Waste Management and Qube Holdings ((QUB)) are the broker's preferred stocks in this grouping, while Aurizon Holdings is least preferred. Alongside monthly passenger data, Auckland International Airport will release its Final 2025 Master Plan in December 2025, highlight the analysts. Equal-weight rating for Auckland International Airport. Target price NZ$8.08. Industry View: In-Line. FORECAST Morgan Stanley forecasts a full year FY26 dividend of 11.48 cents and EPS of 16.41 cents. Morgan Stanley forecasts a full year FY27 dividend of 12.39 cents and EPS of 17.68 cents.
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	-	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Citi

xx/xx/xxxx

xxxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

03/09/2025

Equal-weight

Morgan Stanley outlines upcoming catalysts, sustainability metrics, and updated financial estimates for its Australia Infrastructure & Contracted Utilities coverage.

Cleanaway Waste Management and Qube Holdings ((QUB)) are the broker's preferred stocks in this grouping, while Aurizon Holdings is least preferred.

Alongside monthly passenger data, Auckland International Airport will release its Final 2025 Master Plan in December 2025, highlight the analysts.

Equal-weight rating for Auckland International Airport. Target price NZ$8.08. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 11.48 cents and EPS of 16.41 cents.
Morgan Stanley forecasts a full year FY27 dividend of 12.39 cents and EPS of 17.68 cents.

Macquarie

xx/xx/xxxx

xxxxxxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

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EXTRA COVERAGE

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No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Jarden	26/08/2025	3	Neutral	-	-	Auckland International Airport delivered FY25 profit of NZ$309.5m, broadly in line with Jarden’s estimate of NZ$310.5m and consensus of around NZ$306m. Revenue was slightly weaker than expected due to softer passenger volumes late in the year, while higher outsourced operations lifted costs, explains the broker. While retail income per passenger improved to NZ$10.29 from NZ$10.16, the analysts note foreign exchange headwinds reduced overall passenger service revenue (PSR) by -9%. FY26 guidance of NZ$280m-$320m profit is softer than expected by Jarden, with the midpoint around -NZ$10m below FY25 and -NZ$20m below consensus. Constraints on airline seat capacity, macro softness, geopolitical issues, and construction disruption are expected to weigh on near-term performance. Capex guidance of -NZ$1.0b-NZ$1.3b was modestly below Jarden's expectations, suggesting some delay to PSE4 project phasing. Jarden raises its target price to NZ$7.81 from NZ$7.75 and retains a Neutral rating. FORECAST Jarden forecasts a full year FY26 dividend of 12.12 cents and EPS of 15.77 cents. Jarden forecasts a full year FY27 dividend of 12.76 cents and EPS of 18.32 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

26/08/2025

Neutral

Auckland International Airport delivered FY25 profit of NZ$309.5m, broadly in line with Jarden’s estimate of NZ$310.5m and consensus of around NZ$306m.

Revenue was slightly weaker than expected due to softer passenger volumes late in the year, while higher outsourced operations lifted costs, explains the broker.

While retail income per passenger improved to NZ$10.29 from NZ$10.16, the analysts note foreign exchange headwinds reduced overall passenger service revenue (PSR) by -9%.

FY26 guidance of NZ$280m-$320m profit is softer than expected by Jarden, with the midpoint around -NZ$10m below FY25 and -NZ$20m below consensus.

Constraints on airline seat capacity, macro softness, geopolitical issues, and construction disruption are expected to weigh on near-term performance.

Capex guidance of -NZ$1.0b-NZ$1.3b was modestly below Jarden's expectations, suggesting some delay to PSE4 project phasing.

Jarden raises its target price to NZ$7.81 from NZ$7.75 and retains a Neutral rating.

FORECAST
Jarden forecasts a full year FY26 dividend of 12.12 cents and EPS of 15.77 cents.
Jarden forecasts a full year FY27 dividend of 12.76 cents and EPS of 18.32 cents.

Access Extra Coverage Research History >

AIA STOCK CHART

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Dividend Yield Today On Last Actual Payout :	N/A
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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AUCKLAND INTERNATIONAL AIRPORT LIMITED (AIA)
Share Price Analysis and Chart