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

Enter the company code or Name for stock analysis:

AIA - AUCKLAND INTERNATIONAL AIRPORT LIMITED

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 4.5
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

$6.81

25 Jul
2024

-0.110

OPEN

$6.88

-1.59%

HIGH

$6.95

550,406

LOW

$6.81

TARGET
$8.25 21.1% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
AGL . ALX . APA . CEN . DBI . DBI . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
AIA: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 17.1 xxx
DPS (cps) 12.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 39.6 xxx
Dividend Yield 1.9% xxx
Div Pay Ratio(%) 73.7% 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: 0.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.53

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
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: 19/03 - ex-div 6.36c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx2.7
DPS All xxxxxxxxxxxxxxx4.3
Sales/Revenue xxxxxxxxxxxxxxx569.8 M
Book Value Per Share xxxxxxxxxxxxxxx523.8
Net Operating Cash Flow xxxxxxxxxxxxxxx281.4 M
Net Profit Margin xxxxxxxxxxxxxxx6.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx0.52 %
Return on Invested Capital xxxxxxxxxxxxxxx0.46 %
Return on Assets xxxxxxxxxxxxxxx0.41 %
Return on Equity xxxxxxxxxxxxxxx0.52 %
Return on Total Capital xxxxxxxxxxxxxxx2.64 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-144.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx395 M
Long Term Debt xxxxxxxxxxxxxxx1,278 M
Total Debt xxxxxxxxxxxxxxx1,672 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx99 M
Price To Book Value xxxxxxxxxxxxxxx1.50

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx425.6 M
Capex % of Sales xxxxxxxxxxxxxxx74.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx302 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx29 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,872 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

-

xx.xx%

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

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

Citi

18/07/2024

1

Buy

-

-

The Commerce Commission, regulator for Auckland International Airport's aeronautical business, has released a draft report on the PSE4 pricing review for the company.

While finding management's intended capital investment program is necessary, the commission's estimate of a reasonable return implies a -14-17% price reduction for the company's targeted return of 8.73%, explains Citi.

The broker notes a small share price dip in reaction to the news is fair, and a final report is due for release “no later than Q1 2025”. It's felt clarity around PSE4 pricing will be key to realising share price upside.

A Buy rating is retained with a NZ$9.20 target price.

FORECAST
Citi forecasts a full year FY24 dividend of 12.74 cents and EPS of 17.27 cents.
Citi forecasts a full year FY25 dividend of 13.67 cents and EPS of 18.47 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

24/07/2024

3

Downgrade to Neutral from Overweight

-

-

Jarden lowers its target for Auckland International Airport to NZ$8.13 from NZ$8.58 and downgrades to Neutral from Overweight. These changes follow from the Commerce Commission in New Zealand suggesting a lower level of targeted returns compared to management.

The broker makes a -5% reduction in FY26 and FY27 aeronautical pricing forecasts, which results in a modest -2cps reduction in
value.

Also, prior to any price adjustment, the analysts had noted passenger volumes were likely to remain below the company's Price Setting Event 4 (PSE4) forecasts for the next two years. PSE4 covers aeronautical prices for the five-year period from FY23-27.

FORECAST
Jarden forecasts a full year FY24 dividend of 12.47 cents and EPS of 17.45 cents.
Jarden forecasts a full year FY25 dividend of 12.65 cents and EPS of 18.01 cents.
Access Stockbroker Research History >

AIA STOCK CHART

FNArena News on AIA

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 26-07-24

Jul 26 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jul 24, 2024

Jul 24 2024 - Daily Market Reports
3
Next Week At A Glance – 15-19 July 2024

Jul 12 2024 - Weekly Reports
4
Rudi’s View: Diverging Risks In A Polarised Market

Jul 03 2024 - Rudi's View
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 31-05-24

May 31 2024 - Weekly Reports

Latest Infrastructure & Utilities News

1
Can Gentrack Live Up To Its Shareprice?

Jul 11 2024 - Small Caps
2
AGL Energy Shares Eyeing $12 Target

Jun 25 2024 - Technicals
3
Next Week At A Glance – 10-14 Jun 2024

Jun 07 2024 - Weekly Reports
4
ESG Focus: The Little Big Things – 15-11-2023

Nov 15 2023 - ESG Focus
5
ESG Focus: ESG-Linked Remuneration Now In Focus

Oct 19 2023 - ESG Focus
6
Book Excerpt: Need To Know About Investing In Infrastructure

Jun 09 2023 - Book Reviews
7
The Prudence Of Infrastructure In A Recession

Jun 09 2023 - International
8
Building A Road Back to Surplus In Victoria

Jun 06 2023 - Australia
9
Treasure Chest: APA Group’s Electric Future

May 31 2023 - Treasure Chest
10
Transurban In A Sweet Spot

Apr 18 2023 - Australia