Aeroports de Paris SA (AEOXF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Aeroports de Paris SA $89.35, price $132, upside -32.4%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $62.60 – $171.89 · fair‑value band $31.54 – $115.71 · the $132.12 price screens above the $89.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Aeroports de Paris SA, together with its subsidiaries, operates and designs airports in France, Turkey, Kazakhstan, Jordan, Georgia, and internationally. It operates in five segments: Aviation; Retail and Services; Real Estate; International and Airport Developments; and Other Activities.
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Aeroports de Paris SA, together with its subsidiaries, operates and designs airports in France, Turkey, Kazakhstan, Jordan, Georgia, and internationally. It operates in five segments: Aviation; Retail and Services; Real Estate; International and Airport Developments; and Other Activities. The Aviation segment offers airport services, such as landing, parking, and passengers; check-in and boarding counters, baggage handling facilities, de-icing facilities, and the supplying of electricity to aircraft; and security and airport safety services, including security checkpoints and screening systems, aircraft rescue, and fire-fighting services. Its Retail and Services segment is involved in retail activities in terminals comprising retail shops, bars and restaurants, banks and currency exchange offices, and car rentals; commercial distribution; advertising; car parks; production and supply of heat, drinking water, and access to the chilled distribution networks; tourism; luxury passenger services; and construction of metro station. The Real Estate segment engages in property leasing services; construction, commercialization, and lease management of office buildings, logistic buildings, and freight terminals; and rental of serviced land. Its International and Airport Developments segment designs and operates airport activities. The Other Activities segment offers telecom and cybersecurity services. Aeroports de Paris SA was incorporated in 1945 and is headquartered in Tremblay-en-France, France.
Stock analysis
Aeroports de Paris SA (AEOXF) currently trades at $132.12, while our model-based Fair Value estimate is $89.35, 32.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $86.48 per share, and 4 of the 26 models we run sit above the $132.12 price.
Bear case: the Asset-Based group reads lowest at $33.13, and 22 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $31.54 (bear) to $115.71 (bull), the price of $132.12 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Aeroports de Paris SA reported revenue of €6.7B in FY2025 versus €2.8B in FY2021, a compound +24.6%/yr. Reported net income was €381M in FY2025.
Key figures
Market cap $13.0B · P/E ratio 29.5 · P/S ratio 1.68 · EPS (TTM) $4.48 · Dividend yield 2.3% · Net margin 5.7% · Return on equity 7.8% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at −32%, AEOXF screens richer than that median.
Fair Value models
Bear $31.54Fair Value $89.35Bull $115.71
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($1.12 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.7%
Start year 2020 (pandemic). Over 10 years: +8.6% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.3%
Dividend (yield on the price)2.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−8.3% vs −1.2%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−64% → 19%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+32.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +29.9% a year for the price and +2.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airports & Air Services · 51 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Bottom 25%
Fair Value upside−38.3% · Bottom 25%
Profitability
Return on equity (TTM)7.8% · Bottom 25%
Return on assets4.0% · Below median
Net margin (TTM)5.7% · Below median
Operating margin (TTM)21.5% · Above median
Growth and dividend
Revenue growth8.3% · Above median
Dividend yield (TTM)2.3% · Below median
Balance sheet
Debt / equity1.96× · Highest 25%
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
P/E (TTM)29.5× · Priciest 25%
P/B2.67× · Pricier than median
P/S (TTM)1.73× · Cheaper than median
P/FCF45.1× · Priciest 25%
EV/EBITDA8.3× · Cheaper than median
PEG0.87× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)42· sector 26
PAST (return on equity)31· sector 48
HEALTH (low debt)2· sector 86
DIVIDEND (yield)45· sector 62
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Aeroports de Paris SA Fair Value". https://www.fairvalue-calculator.com/stock/AEOXF
Frequently asked questions
Is Aeroports de Paris SA (AEOXF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $89.35 versus the last price from Sep 25, 2026 of $132.12, about −32% upside (overvalued).
What is the fair value of AEOXF?
Our model-based fair value for Aeroports de Paris SA is $89.35 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $132.12.
What is the quality score of AEOXF?
Aeroports de Paris SA has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Aeroports de Paris SA (AEOXF)?
Our model-based price target is the fair value of $89.35 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario $31.54, optimistic scenario $115.71. It is a calculation from audited fundamentals, not an analyst target.
What is the Aeroports de Paris SA stock forecast for 2026?
Our models put fair value at $89.35, about −32% upside versus the last price from Sep 25, 2026 of $132.12 (overvalued). Cautious scenario $31.54, optimistic scenario $115.71. The calculation is refreshed regularly with new filings.
What is the revenue of Aeroports de Paris SA (AEOXF)?
Aeroports de Paris SA reported trailing-twelve-month revenue of about €6.7B (latest available figure, as of Sep 23, 2026).
Does Aeroports de Paris SA pay a dividend?
Aeroports de Paris SA currently shows a dividend yield of about 2.27% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Aeroports de Paris SA (AEOXF)?
For today's price to be fair in a discounted-cash-flow model, Aeroports de Paris SA would have to grow free cash flow by +32.8 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.7 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of AEOXF use?
Our models discount Aeroports de Paris SA at 9.0 %: a base by market capitalisation (large), damped by beta 0.89, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Aeroports de Paris SA that is +32.8 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Aeroports de Paris SA (AEOXF) delivered so far?
Over the past 5 years revenue at Aeroports de Paris SA grew +25.7 % a year. The price currently implies +32.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Aeroports de Paris SA (AEOXF) growing?
The median revenue growth in the sector is +7.2 % a year. That is the yardstick for the growth priced into Aeroports de Paris SA (+32.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aeroports de Paris SA (AEOXF)?
The free-cash-flow yield on the price is 2.22 %: that much free cash flow Aeroports de Paris SA produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aeroports de Paris SA (AEOXF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aeroports de Paris SA it is $89.35 per share (as of Sep 23, 2026), against a price of $132.12. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Aeroports de Paris SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AEOXF trades above its calculated fair value: price $132.12, fair value $89.35, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AEOXF?
No. The price is what the market pays today ($132.12); the fair value is what the company's own numbers justify ($89.35). For Aeroports de Paris SA the two are $42.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aeroports de Paris SA worth?
The market values Aeroports de Paris SA at about $13.0B (market capitalisation, as of Sep 23, 2026). Per share that is $132.12; our models calculate a fair value of $89.35 per share.
What do the bullish and bearish scenarios say about AEOXF?
Our models span a range for Aeroports de Paris SA: cautious scenario $31.54, base $89.35, optimistic $115.71 per share (as of Sep 23, 2026, price $132.12). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AEOXF?
Aeroports de Paris SA trades at a price-to-earnings ratio of 29.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $89.35 is built from several models across several years. Other multiples: PEG 0.9, P/B 2.7, P/S 1.7, EV/EBITDA 8.3.
What is the PEG ratio of AEOXF?
The PEG ratio of Aeroports de Paris SA is 0.87 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Aeroports de Paris SA (AEOXF)?
Balance-sheet figures for Aeroports de Paris SA (as of Sep 23, 2026): return on equity 7.8%, debt of 1.96 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is AEOXF from its 52-week high?
Aeroports de Paris SA trades at $132.12, about 12% below its 52-week high of $150.14 and 25% above the low of $105.98 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $89.35 is for.
Which stocks are comparable to Aeroports de Paris SA?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, GMR Airports Limited, Shanghai International Airport Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Aeroports de Paris SA stock attractive at the current price?
The data as of Sep 23, 2026: price $132.12, calculated fair value $89.35 (−32%), Quality Score 47/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AEOXF calculated?
We run Aeroports de Paris SA through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $89.35, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Aeroports de Paris SA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Aeroports de Paris SA (AEOXF)?
The latest price we hold is from Sep 25, 2026 and stands at $132.12. Our model-based fair value is $89.35, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aeroports de Paris SA right now?
The price sits above even our optimistic bull case ($115.71). The favourable scenario is already priced in. The model range is unusually wide ($31.54 to $115.71). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Aeroports de Paris SA (AEOXF) come from?
Earnings per share at Aeroports de Paris SA grew +0.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.7 %, EBIT margin −2.7 %, tax rate −1.2 %, residual (interest, one-offs) −3.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Aeroports de Paris SA
How large is the market capitalisation of Aeroports de Paris SA (AEOXF)?
The market capitalisation of Aeroports de Paris SA is $13.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Aeroports de Paris SA (AEOXF)?
The price-to-sales ratio of Aeroports de Paris SA is 1.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aeroports de Paris SA (AEOXF)?
Earnings per share at Aeroports de Paris SA are $4.48 (price ÷ EPS = P/E 29.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aeroports de Paris SA (AEOXF)?
The dividend yield of Aeroports de Paris SA is 2.3% (payout 67.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Aeroports de Paris SA (AEOXF)?
The net margin of Aeroports de Paris SA is 5.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Aeroports de Paris SA (AEOXF)?
The return on equity (ROE) of Aeroports de Paris SA is 7.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Aeroports de Paris SA (AEOXF)?
On an EBIT basis the return on assets of Aeroports de Paris SA is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Aeroports de Paris SA (AEOXF)?
The operating margin of Aeroports de Paris SA is 21.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aeroports de Paris SA (AEOXF)?
Revenue at Aeroports de Paris SA is growing +8.3% versus a year earlier (3y avg +12.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Aeroports de Paris SA (AEOXF)?
Earnings per share at Aeroports de Paris SA are growing −72.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aeroports de Paris SA (AEOXF) carry?
The net debt of Aeroports de Paris SA is €8.7B (fiscal year 2025, ≈ 33.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 23, 2026