Toscana Aeroporti SpA vs Aena: Fair Value & Quality
Both stocks run through our valuation models. Here is how Toscana Aeroporti SpA (TYA) and Aena (AENA) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Toscana Aeroporti SpA trades at €18.95 versus a fair value of €9.37 (-51%), while Aena trades at €26.70 versus €28.41 (+6%).
Toscana Aeroporti SpA
TYA.MI · EUR · Industrials
-51%
upside to fair value
overvalued
Price€18.95
Fair Value€9.37
Quality60/100
Aena
AENA.MC · EUR · Industrials
+6%
upside to fair value
fairly valued
Price€26.70
Fair Value€28.41
Quality69/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Toscana Aeroporti SpAAena
Valuation
22.5×P/E (TTM)18.2×
2.88×P/S (TTM)7.04×
3.26×P/B4.94×
10.8×EV/EBITDA13.1×
—PEG3.02×
—Dividend yield4.2%
—Dividend per share€1.09
Profitability
13%Net margin34%
35%Operating margin31%
16%Return on equity24%
7%Return on assets10%
Growth
9%Revenue growth (YoY)12%
18.4%Avg. growth/yr (3Y)14.4%
18.0%Avg. growth/yr (5Y)23.5%
Balance & size
0.79×Debt / equity0.53×
$401MMarket cap$45B
mixedGrowth qualityhealthy
Aena leads: 5 to 7 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.
Toscana Aeroporti SpAof which business quality 56 · market factors 62Aenaof which business quality 68 · market factors 63
ProfitabilityMargins and returns on capital today
50
63
Quality GrowthAre margins and returns improving?
62
50
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
59
56
Low VolatilityCalm price path (market factor)
84
81
MomentumPrice trend over the last 3–12 months (market factor)
48
51
52W MomentumDistance to the 52-week high (market factor)
61
64
Net IssuanceBuybacks instead of dilution
82
82
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Toscana Aeroporti SpA
DCF Models€8.62
Earnings-Based€7.90
Dividend Discount€5.33
Multiples€16.43
Asset-Based€4.43
Growth DCF€8.47
Economic Profit€8.64
Growth Earnings€16.60
20 of 24 models see the stock below the current price.
Aena
DCF Models€28.85
Earnings-Based€14.12
Dividend Discount€17.57
Multiples€27.07
Asset-Based€4.11
Growth DCF€19.22
Economic Profit€14.75
Growth Earnings€24.15
15 of 26 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.
Toscana Aeroporti SpA
Bear €6.19Fair Value €9.37Bull €16.96
€18.95 = current price (white tick)
Aena
Bear €17.20Fair Value €28.41Bull €36.38
€26.70 = 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.
Toscana Aeroporti SpA · Industrials
Quality score60 · above median
Fair value upside-51% · below median
Aena · Industrials
Quality score69 · Top 25%
Fair value upside+6% · above median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Aena as the more attractively valued of the two: Toscana Aeroporti SpA trades at €18.95 versus a fair value of €9.37 (-51%), while Aena trades at €26.70 versus €28.41 (+6%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
