AENA SME SA (A441.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:A441 • ES0105046017

26.4 EUR
+0.31 (+1.19%)
Last: Feb 3, 2026, 07:00 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to A441. A441 was compared to 13 industry peers in the Transportation Infrastructure industry. Both the health and profitability get an excellent rating, making A441 a very profitable company, without any liquidiy or solvency issues. A441 is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • A441 had positive earnings in the past year.
  • A441 had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: A441 reported negative net income in multiple years.
  • In the past 5 years A441 always reported a positive cash flow from operatings.
A441.DE Yearly Net Income VS EBIT VS OCF VS FCFA441.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B

1.2 Ratios

  • The Return On Assets of A441 (11.87%) is better than 100.00% of its industry peers.
  • With an excellent Return On Equity value of 23.78%, A441 belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 14.33%, A441 belongs to the top of the industry, outperforming 84.62% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for A441 is above the industry average of 8.18%.
  • The 3 year average ROIC (10.45%) for A441 is below the current ROIC(14.33%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 11.87%
ROE 23.78%
ROIC 14.33%
ROA(3y)8.79%
ROA(5y)4.51%
ROE(3y)19.39%
ROE(5y)9.54%
ROIC(3y)10.45%
ROIC(5y)6.39%
A441.DE Yearly ROA, ROE, ROICA441.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

1.3 Margins

  • A441's Profit Margin of 33.66% is amongst the best of the industry. A441 outperforms 100.00% of its industry peers.
  • A441's Profit Margin has been stable in the last couple of years.
  • A441's Operating Margin of 46.12% is amongst the best of the industry. A441 outperforms 100.00% of its industry peers.
  • A441's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of A441 (97.52%) is better than 84.62% of its industry peers.
  • A441's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 46.12%
PM (TTM) 33.66%
GM 97.52%
OM growth 3Y145.34%
OM growth 5Y0.52%
PM growth 3YN/A
PM growth 5Y0.67%
GM growth 3Y1.35%
GM growth 5Y-0.16%
A441.DE Yearly Profit, Operating, Gross MarginsA441.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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7

2. Health

2.1 Basic Checks

  • A441 has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for A441 remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, A441 has about the same amount of shares outstanding.
  • Compared to 1 year ago, A441 has an improved debt to assets ratio.
A441.DE Yearly Shares OutstandingA441.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B
A441.DE Yearly Total Debt VS Total AssetsA441.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • An Altman-Z score of 4.16 indicates that A441 is not in any danger for bankruptcy at the moment.
  • A441 has a better Altman-Z score (4.16) than 100.00% of its industry peers.
  • The Debt to FCF ratio of A441 is 3.44, which is a good value as it means it would take A441, 3.44 years of fcf income to pay off all of its debts.
  • A441's Debt to FCF ratio of 3.44 is fine compared to the rest of the industry. A441 outperforms 76.92% of its industry peers.
  • A Debt/Equity ratio of 0.69 indicates that A441 is somewhat dependend on debt financing.
  • A441 has a Debt to Equity ratio of 0.69. This is in the better half of the industry: A441 outperforms 61.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 3.44
Altman-Z 4.16
ROIC/WACC2.04
WACC7.01%
A441.DE Yearly LT Debt VS Equity VS FCFA441.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 1.22 indicates that A441 should not have too much problems paying its short term obligations.
  • The Current ratio of A441 (1.22) is better than 61.54% of its industry peers.
  • A Quick Ratio of 1.22 indicates that A441 should not have too much problems paying its short term obligations.
  • A441 has a Quick ratio of 1.22. This is in the better half of the industry: A441 outperforms 61.54% of its industry peers.
Industry RankSector Rank
Current Ratio 1.22
Quick Ratio 1.22
A441.DE Yearly Current Assets VS Current LiabilitesA441.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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4

3. Growth

3.1 Past

  • A441 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 18.58%, which is quite good.
  • The Earnings Per Share has been growing slightly by 6.05% on average over the past years.
  • The Revenue has grown by 8.39% in the past year. This is quite good.
  • Measured over the past years, A441 shows a small growth in Revenue. The Revenue has been growing by 5.34% on average per year.
EPS 1Y (TTM)18.58%
EPS 3YN/A
EPS 5Y6.05%
EPS Q2Q%8.83%
Revenue 1Y (TTM)8.39%
Revenue growth 3Y33.4%
Revenue growth 5Y5.34%
Sales Q2Q%8.09%

3.2 Future

  • A441 is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.36% yearly.
  • The Revenue is expected to grow by 4.53% on average over the next years.
EPS Next Y10.32%
EPS Next 2Y10.28%
EPS Next 3Y7.27%
EPS Next 5Y4.36%
Revenue Next Year8.4%
Revenue Next 2Y7.05%
Revenue Next 3Y5.55%
Revenue Next 5Y4.53%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
A441.DE Yearly Revenue VS EstimatesA441.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
A441.DE Yearly EPS VS EstimatesA441.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5

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4

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 20.47, which indicates a rather expensive current valuation of A441.
  • A441's Price/Earnings ratio is in line with the industry average.
  • A441 is valuated rather cheaply when we compare the Price/Earnings ratio to 28.18, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 16.84, the valuation of A441 can be described as correct.
  • Based on the Price/Forward Earnings ratio, A441 is valued a bit cheaper than 69.23% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.51, A441 is valued a bit cheaper.
Industry RankSector Rank
PE 20.47
Fwd PE 16.84
A441.DE Price Earnings VS Forward Price EarningsA441.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 76.92% of the companies in the same industry are cheaper than A441, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, A441 is valued a bit cheaper than 61.54% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.77
EV/EBITDA 12.18
A441.DE Per share dataA441.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates A441 does not grow enough to justify the current Price/Earnings ratio.
  • A441 has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.98
PEG (5Y)3.38
EPS Next 2Y10.28%
EPS Next 3Y7.27%

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3

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.10%, A441 has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.27, A441 has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.83, A441 pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.1%

5.2 History

  • The dividend of A441 decreases each year by -27.54%.
Dividend Growth(5Y)-27.54%
Div Incr YearsN/A
Div Non Decr YearsN/A

5.3 Sustainability

  • A441 pays out 72.44% of its income as dividend. This is not a sustainable payout ratio.
DP72.44%
EPS Next 2Y10.28%
EPS Next 3Y7.27%
A441.DE Yearly Income VS Free CF VS DividendA441.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B
A441.DE Dividend Payout.A441.DE Dividend Payout, showing the Payout Ratio.A441.DE Dividend Payout.PayoutRetained Earnings

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AENA SME SA

FRA:A441 (2/3/2026, 7:00:00 PM)

26.4

+0.31 (+1.19%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryTransportation Infrastructure
Earnings (Last)10-29
Earnings (Next)02-25
Inst Owners23.45%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap39.60B
Revenue(TTM)6.13B
Net Income(TTM)2.06B
Analysts67.59
Price Target25.38 (-3.86%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.1%
Yearly Dividend0.79
Dividend Growth(5Y)-27.54%
DP72.44%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-1.21%
Min Revenue beat(2)-1.85%
Max Revenue beat(2)-0.58%
Revenue beat(4)0
Avg Revenue beat(4)-2.21%
Min Revenue beat(4)-4.62%
Max Revenue beat(4)-0.58%
Revenue beat(8)1
Avg Revenue beat(8)-1.99%
Revenue beat(12)3
Avg Revenue beat(12)0.77%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.14%
PT rev (3m)1.16%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.35%
EPS NY rev (1m)0%
EPS NY rev (3m)0.73%
Revenue NQ rev (1m)0.07%
Revenue NQ rev (3m)0.47%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.88%
Valuation
Industry RankSector Rank
PE 20.47
Fwd PE 16.84
P/S 6.46
P/FCF 19.77
P/OCF 13.56
P/B 4.56
P/tB 5.64
EV/EBITDA 12.18
EPS(TTM)1.29
EY4.89%
EPS(NY)1.57
Fwd EY5.94%
FCF(TTM)1.34
FCFY5.06%
OCF(TTM)1.95
OCFY7.37%
SpS4.09
BVpS5.79
TBVpS4.68
PEG (NY)1.98
PEG (5Y)3.38
Graham Number12.96
Profitability
Industry RankSector Rank
ROA 11.87%
ROE 23.78%
ROCE 18.72%
ROIC 14.33%
ROICexc 16.21%
ROICexgc 18.5%
OM 46.12%
PM (TTM) 33.66%
GM 97.52%
FCFM 32.67%
ROA(3y)8.79%
ROA(5y)4.51%
ROE(3y)19.39%
ROE(5y)9.54%
ROIC(3y)10.45%
ROIC(5y)6.39%
ROICexc(3y)12.05%
ROICexc(5y)7.36%
ROICexgc(3y)13.6%
ROICexgc(5y)8.29%
ROCE(3y)13.65%
ROCE(5y)8.34%
ROICexgc growth 3Y226%
ROICexgc growth 5Y6.16%
ROICexc growth 3Y218.59%
ROICexc growth 5Y5.3%
OM growth 3Y145.34%
OM growth 5Y0.52%
PM growth 3YN/A
PM growth 5Y0.67%
GM growth 3Y1.35%
GM growth 5Y-0.16%
F-Score7
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 0.69
Debt/FCF 3.44
Debt/EBITDA 1.62
Cap/Depr 108.58%
Cap/Sales 14.95%
Interest Coverage 14.68
Cash Conversion 79.51%
Profit Quality 97.05%
Current Ratio 1.22
Quick Ratio 1.22
Altman-Z 4.16
F-Score7
WACC7.01%
ROIC/WACC2.04
Cap/Depr(3y)119.6%
Cap/Depr(5y)101.27%
Cap/Sales(3y)19.71%
Cap/Sales(5y)21.97%
Profit Quality(3y)92.25%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)18.58%
EPS 3YN/A
EPS 5Y6.05%
EPS Q2Q%8.83%
EPS Next Y10.32%
EPS Next 2Y10.28%
EPS Next 3Y7.27%
EPS Next 5Y4.36%
Revenue 1Y (TTM)8.39%
Revenue growth 3Y33.4%
Revenue growth 5Y5.34%
Sales Q2Q%8.09%
Revenue Next Year8.4%
Revenue Next 2Y7.05%
Revenue Next 3Y5.55%
Revenue Next 5Y4.53%
EBIT growth 1Y8.34%
EBIT growth 3Y227.28%
EBIT growth 5Y5.88%
EBIT Next Year44.78%
EBIT Next 3Y16.94%
EBIT Next 5Y11.65%
FCF growth 1Y144.44%
FCF growth 3YN/A
FCF growth 5Y12.04%
OCF growth 1Y32.17%
OCF growth 3Y113.95%
OCF growth 5Y5.37%

AENA SME SA / A441.DE FAQ

Can you provide the ChartMill fundamental rating for AENA SME SA?

ChartMill assigns a fundamental rating of 6 / 10 to A441.DE.


What is the valuation status for A441 stock?

ChartMill assigns a valuation rating of 4 / 10 to AENA SME SA (A441.DE). This can be considered as Fairly Valued.


How profitable is AENA SME SA (A441.DE) stock?

AENA SME SA (A441.DE) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for A441 stock?

The Price/Earnings (PE) ratio for AENA SME SA (A441.DE) is 20.47 and the Price/Book (PB) ratio is 4.56.


Can you provide the expected EPS growth for A441 stock?

The Earnings per Share (EPS) of AENA SME SA (A441.DE) is expected to grow by 10.32% in the next year.