Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Grupo Aeroportuario del Sureste, S. A. B. de C. V.

Market cap $7B · 52 weeks $230 – $381 (32 % below the high) · P/E 13.7× · 2027 expected P/E 11.4× · Dividend 8.8 % · 4 years rising · Next earnings February 23, 2027 · expected EPS $4.75 · Closing price, Oct 30 · accounts published Oct 22.

• Valuation: P/E 13.7× (no verdict).
• Business: ROIC 8 % (fair).
• Balance sheet: Net debt/EBITDA 1.3× (solid).
• Earnings: 2 of 8 (disappointing).

What would it be worth at its usual multiples?

No valuation verdict: it is a cyclical and today's P/E (13.7) does not tell whether it is cheap.

In cyclicals the P/E misleads: today's earnings are not the normal ones.

What matters in industrials: 7 of 10 pass

• ROIC 8.4 %, fails.
• FCF conversion 48.1 %, fails.
• Capex / Revenue 21.0 %, fails.
• 5y revenue growth 24.2 %, passes.
• Operating margin 45.6 %, passes.
• Net debt / EBITDA 1.3×, passes.
• Altman Z-Score 4.3, passes.
• Piotroski F-Score 5 de 9, passes.
• P/E vs own 10y history 13.7×, passes.
• Cycle-adjusted EV/EBITDA 10.2×, passes.

Against its peers (reference peers) — Grupo Aeroportuario del Sureste, S. A. B. de C. V.: P/E 13.7×; EV/EBITDA 10.2×; ROIC 8.4 %; $7.5B. Corporacion America Airports S.A. (P/E 14.0×; EV/EBITDA 6.1×; ROIC 8.7 %; $3.9B), American Airlines Group Inc. (P/E —; EV/EBITDA 13.6×; ROIC 2.0 %; $8.3B), Copa Holdings, S.A. (P/E 8.5×; EV/EBITDA 4.6×; ROIC 12.2 %; $5.3B).

Expensive or cheap against its last ten years?

P/E at each close: today 13.7× · median 17.1× · minimum 8.8× · maximum 63.8× · cheap below 15.5× · expensive above 23.6×. It has been cheaper than today only 17% of the time over its last ten years.

Dividend

fragile · Yield 8.8 % ($42.37 per ADS in 2025) · Years raising it 4 · 5-year growth +41 % a year · Free cash flow coverage 0.8× · With $1,000 invested today you'd collect $87.60 a year ($7.30 a month).