AUCKLAND INTERNATIONAL AIRPORT LIMITED (AIA)
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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
$7.02 07 Nov 2025	-0.040 OPEN $7.15	-0.57% HIGH $7.15	285,114 LOW $6.99

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$7.02

07 Nov
2025

-0.040

OPEN

$7.15

-0.57%

HIGH

$7.15

285,114

LOW

$6.99

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)	16.6	xxx
DPS (cps)	11.9	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	42.3	xxx
Dividend Yield	1.7%	xxx
Div Pay Ratio(%)	71.6%	xxx

Title	FY26 Forecast	FY27 Forecast
EPS (cps)	15.9	xxx
DPS (cps)	11.4	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	44.2	xxx
Dividend Yield	1.6%	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

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

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

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

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

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

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

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.3

No. Of Recommendations

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	08/10/2025	1	Outperform	-	-	Due to prompting for Air New Zealand ((AIZ)) in late July over issues around information disclosure regulatory regime and pushing for a Section 56G into economic regulation of specific airport services, ComCom conducted a short review on regulatory settings. Macquarie highlights the request and study were unknown to Auckland International Airport, but ComCom found no reasonable grounds to start a Section 56G inquiry. The analyst believes after a long period of regulatory uncertainty, investors can be confident around the regulatory framework for PSE5 (five-year pricing). Outperform and target at NZ$8.75 are unchanged. No change to the analyst's earnings estimates. FORECAST Macquarie forecasts a full year FY26 dividend of 12.16 cents and EPS of 16.79 cents. Macquarie forecasts a full year FY27 dividend of 12.80 cents and EPS of 17.61 cents.
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

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgan Stanley

xx/xx/xxxx

xxxxx-xxxxxx

xx.xx%

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

Macquarie

08/10/2025

Outperform

Due to prompting for Air New Zealand ((AIZ)) in late July over issues around information disclosure regulatory regime and pushing for a Section 56G into economic regulation of specific airport services, ComCom conducted a short review on regulatory settings.

Macquarie highlights the request and study were unknown to Auckland International Airport, but ComCom found no reasonable grounds to start a Section 56G inquiry.

The analyst believes after a long period of regulatory uncertainty, investors can be confident around the regulatory framework for PSE5 (five-year pricing).

Outperform and target at NZ$8.75 are unchanged. No change to the analyst's earnings estimates.

FORECAST
Macquarie forecasts a full year FY26 dividend of 12.16 cents and EPS of 16.79 cents.
Macquarie forecasts a full year FY27 dividend of 12.80 cents and EPS of 17.61 cents.

Citi

xx/xx/xxxx

xxxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

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	21/10/2025	3	Neutral	-	-	Auckland International Airport remains on track to meet its FY26 passenger volume guidance, according to Jarden, supported by forward scheduling trends and the first quarter result. The broker’s analysis suggests volume forecasts are achievable based on current seat capacity projections through FY26, with recent Jetstar announcements adding around 490,000 annual seats. While this provides modest upside potential, Jarden warns operational risks remain given monthly volatility and seasonality. The broker makes minor model adjustments, lifting its target price to NZ$7.93 from NZ$7.81, and maintains a Neutral rating. FORECAST Jarden forecasts a full year FY26 dividend of 12.07 cents and EPS of 15.70 cents. Jarden forecasts a full year FY27 dividend of 12.71 cents and EPS of 18.24 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

21/10/2025

Neutral

Auckland International Airport remains on track to meet its FY26 passenger volume guidance, according to Jarden, supported by forward scheduling trends and the first quarter result.

The broker’s analysis suggests volume forecasts are achievable based on current seat capacity projections through FY26, with recent Jetstar announcements adding around 490,000 annual seats.

While this provides modest upside potential, Jarden warns operational risks remain given monthly volatility and seasonality.

The broker makes minor model adjustments, lifting its target price to NZ$7.93 from NZ$7.81, and maintains a Neutral rating.

FORECAST
Jarden forecasts a full year FY26 dividend of 12.07 cents and EPS of 15.70 cents.
Jarden forecasts a full year FY27 dividend of 12.71 cents and EPS of 18.24 cents.

Access Extra Coverage Research History >

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