Recent News
On January 26, 2026 the company held its General Ordinary Shareholders’ Meeting, approving authorities including share and asset-related actions.
January 2026 passenger traffic rose 3.6% year-over-year to roughly 6.7 million passengers, according to the company release.
February 2026 traffic expanded modestly—company filings show total traffic up about 1.6% versus February 2025, with Colombia and international routes contributing.
March 2026 passenger traffic edged up 0.6% year-over-year to about 6.6 million passengers, per the company’s March release.
On March 25, 2026 an analyst house lowered its price target for the stock on sector-level pressures affecting Mexican airports.
Technical Analysis
ADX at 14.3 indicates no clear trend; directional movement shows mixed signals as DI+ sits at 21.64 with a peak-and-reversal (bearish implication) while DI- at 20.88 also shows a peak-and-reversal (bullish implication). The weak ADX amplifies the probability of sideways price action until one directional indicator decisively extends.
MACD registers 0.66 with a peak-and-reversal trend, which signals waning momentum; however MACD currently exceeds its signal line (0.01), creating a recent bullish crossover that conflicts with the peak-and-reversal momentum message. That contradiction suggests short-lived strength may follow a broader loss of momentum.
MRO stands at 8.16 and remains positive, indicating the market price sits above the model target and faces downward pressure; the MRO trend shows increasing momentum in that direction, implying limited upside from current levels until valuation alignment occurs.
RSI reads 51.05 with a peak-and-reversal pattern, consistent with a near-neutral oscillator that has recently rolled off a short-term peak; this supports a range-bound outlook with periodic pullbacks.
Price sits at $337.61, below the 20-day ($341.93) and 50-day ($346.25) averages but above the 200-day average ($325.40). Ichimoku components place the cloud above current price (Senkou A $351.02; Senkou B $344.76), and Tenkan at $343.83 exceeds price, all suggesting short-term resistance until price clears the cloud and short-term EMAs. Bollinger bands center near $341 with a 1x lower band at $332.84, framing a tight volatility environment; recent volume aligns with 10–50 day averages, indicating muted conviction.
Fundamental Analysis
Operational profitability stands out: operating (EBIT) margin equals 90.7%, and EBIT totals $8,180,280,000 with EBITDA $6,132,338,000. The operating margin exceeds the industry peer high of 79.88% and improved QoQ by 65.63% and YoY by 55.73%, highlighting strong margin conversion versus peer benchmarks.
Liquidity and balance-sheet metrics remain robust. Cash and short-term investments total $20,083,457,000 and the current ratio equals 4.36x with a quick ratio of 4.35x. Cash conversion metrics show a cash conversion ratio of 0.4563 and a cash ratio of 3.41x, supporting near-term operating flexibility.
Capital structure shows total debt of $13,381,952,000 with debt to EBITDA at 1.52x and interest coverage near 77.1x, indicating low leverage stress relative to earnings capacity. Debt-to-assets sits at 16.0% and debt-to-equity at 0.247x.
Top-line and earnings dynamics provide contrasts: reported total revenue $9,020,577,000 with revenue growth YoY reported as -85.77% while trailing revenue growth reads 1.21%; earnings growth shows -3.53% year-over-year and a severe QoQ contraction of -82.58%. Free cash flow equals $1,932,030,000 with a free cash flow yield of 2.34% and free cash flow-to-net-income of 56.6%.
Earnings per share beat consensus: reported EPS $5.03 versus estimate $4.84, a surprise of $0.19 or +3.93%. Forward EPS consensus sits near $6.64 producing a forward P/E of 59.59x while the trailing P/E equals 47.93x; price-to-book sits at 1.52x. WMDST values the stock as under-valued, supported by high margins, low leverage, and a $20.08B cash balance that cushions operational variability. When comparing margin and liquidity to the industry peer mean and median, ASR’s margins and cash ratios track materially above the industry peer mean and above the industry peer median, reinforcing the valuation gap.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2024-12-31 |
| REPORT DATE: | 2026-02-23 |
| NEXT REPORT DATE: | 2026-05-25 |
| CASH FLOW | Begin Period Cash Flow | $ 18.5 B |
| Operating Cash Flow | $ 4.5 B | |
| Capital Expenditures | $ -2.53 B | |
| Change In Working Capital | $ -36.21 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -36.21 M | |
| End Period Cash Flow | $ 20.1 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 9.0 B | |
| Forward Revenue | $ 1.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 6.6 B | |
| Depreciation | $ 610.8 M | |
| Depreciation and Amortization | $ 610.8 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.4 B | |
| EBITDA | $ 6.1 B | |
| EBIT | $ 8.2 B | |
| Operating Income | $ 4.5 B | |
| Interest Income | $ 350.1 M | |
| Interest Expense | $ 234.8 M | |
| Net Interest Income | $ -1.28 B | |
| Income Before Tax | $ 5.3 B | |
| Tax Provision | $ 1.7 B | |
| Tax Rate | 32.099 % | |
| Net Income | $ 3.4 B | |
| Net Income From Continuing Operations | $ 5.3 B | |
| EARNINGS | ||
| EPS Estimate | $ 4.84 | |
| EPS Actual | $ 5.03 | |
| EPS Difference | $ 0.19 | |
| EPS Surprise | 3.926 % | |
| Forward EPS | $ 6.64 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 83.6 B | |
| Intangible Assets | $ 55.9 B | |
| Net Tangible Assets | $ -1.67 B | |
| Total Current Assets | $ 25.7 B | |
| Cash and Short-Term Investments | $ 20.1 B | |
| Cash | $ 20.1 B | |
| Net Receivables | $ 2.8 B | |
| Inventory | $ 58.2 M | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 465.2 M | |
| Short-Term Debt | $ 1.1 B | |
| Total Current Liabilities | $ 5.9 B | |
| Net Debt | — | |
| Total Debt | $ 13.4 B | |
| Total Liabilities | $ 22.0 B | |
| EQUITY | ||
| Total Equity | $ 54.2 B | |
| Retained Earnings | $ 20.3 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 180.71 | |
| Shares Outstanding | 300.000 M | |
| Revenue Per-Share | $ 30.07 | |
| VALUATION | Market Capitalization | $ 82.5 B |
| Enterprise Value | $ 75.8 B | |
| Enterprise Multiple | 8.625 | |
| Enterprise Multiple QoQ | -37.137 % | |
| Enterprise Multiple YoY | -42.908 % | |
| Enterprise Multiple IPRWA | high: 118.576 mean: 44.502 median: 34.431 ASR: 8.625 low: -42.459 |
|
| EV/R | 8.406 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.543 | |
| Asset To Liability | 3.798 | |
| Debt To Capital | 0.198 | |
| Debt To Assets | 0.16 | |
| Debt To Assets QoQ | 1194.498 % | |
| Debt To Assets YoY | 812.201 % | |
| Debt To Assets IPRWA | high: 0.852 ASR: 0.16 mean: 0.091 median: 0.022 low: 0.0 |
|
| Debt To Equity | 0.247 | |
| Debt To Equity QoQ | 1180.29 % | |
| Debt To Equity YoY | 799.235 % | |
| Debt To Equity IPRWA | high: 2.149 ASR: 0.247 mean: 0.196 median: 0.055 low: -1.418 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.522 | |
| Price To Book QoQ | -6.616 % | |
| Price To Book YoY | -15.593 % | |
| Price To Book IPRWA | high: 10.646 median: 5.843 mean: 4.962 ASR: 1.522 low: -5.559 |
|
| Price To Earnings (P/E) | 47.925 | |
| Price To Earnings QoQ | -0.565 % | |
| Price To Earnings YoY | -14.507 % | |
| Price To Earnings IPRWA | high: 246.572 median: 78.556 mean: 78.037 ASR: 47.925 low: -51.3 |
|
| PE/G Ratio | -13.58 | |
| Price To Sales (P/S) | 9.149 | |
| Price To Sales QoQ | -16.492 % | |
| Price To Sales YoY | -22.383 % | |
| Price To Sales IPRWA | high: 29.949 median: 11.932 mean: 11.823 ASR: 9.149 low: 0.125 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 59.586 | |
| Forward PE/G | -16.885 | |
| Forward P/S | 92.151 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.851 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.111 | |
| Asset Turnover Ratio QoQ | 12.388 % | |
| Asset Turnover Ratio YoY | 14.633 % | |
| Asset Turnover Ratio IPRWA | high: 0.595 mean: 0.163 median: 0.12 ASR: 0.111 low: 0.001 |
|
| Receivables Turnover | 3.59 | |
| Receivables Turnover Ratio QoQ | 13.402 % | |
| Receivables Turnover Ratio YoY | 6.391 % | |
| Receivables Turnover Ratio IPRWA | high: 14.026 ASR: 3.59 mean: 3.309 median: 3.115 low: 0.029 |
|
| Inventory Turnover | 53.254 | |
| Inventory Turnover Ratio QoQ | 155.743 % | |
| Inventory Turnover Ratio YoY | -1.304 % | |
| Inventory Turnover Ratio IPRWA | ASR: 53.254 high: 40.405 mean: 8.265 median: 5.356 low: 0.266 |
|
| Days Sales Outstanding (DSO) | 25.415 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 16.657 | |
| Cash Conversion Cycle Days QoQ | -123.892 % | |
| Cash Conversion Cycle Days YoY | 14.945 % | |
| Cash Conversion Cycle Days IPRWA | high: 163.069 ASR: 16.657 mean: 7.344 median: -2.544 low: -98.935 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.456 | |
| CapEx To Revenue | -0.281 | |
| CapEx To Depreciation | -4.147 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 66.4 B | |
| Net Invested Capital | $ 67.6 B | |
| Invested Capital | $ 67.6 B | |
| Net Tangible Assets | $ -1.67 B | |
| Net Working Capital | $ 19.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 3.411 | |
| Current Ratio | 4.358 | |
| Current Ratio QoQ | -6.235 % | |
| Current Ratio YoY | 12.3 % | |
| Current Ratio IPRWA | high: 5.625 ASR: 4.358 mean: 1.055 median: 0.899 low: 0.004 |
|
| Quick Ratio | 4.348 | |
| Quick Ratio QoQ | -5.689 % | |
| Quick Ratio YoY | 12.407 % | |
| Quick Ratio IPRWA | ASR: 4.348 high: 4.002 mean: 0.911 median: 0.771 low: 0.221 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.522 | |
| Cost Of Debt | 6.456 % | |
| Interest Coverage Ratio | 77.102 | |
| Interest Coverage Ratio QoQ | 99.657 % | |
| Interest Coverage Ratio YoY | 400.093 % | |
| Interest Coverage Ratio IPRWA | ASR: 77.102 high: 28.884 median: 8.311 mean: 7.562 low: -18.599 |
|
| Operating Cash Flow Ratio | 0.638 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 13.152 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.638 % | |
| Revenue Growth | 1.208 % | |
| Revenue Growth QoQ | 0.0 % | |
| Revenue Growth YoY | -85.77 % | |
| Revenue Growth IPRWA | high: 29.956 % median: 5.803 % mean: 3.036 % ASR: 1.208 % low: -41.586 % |
|
| Earnings Growth | -3.529 % | |
| Earnings Growth QoQ | -82.575 % | |
| Earnings Growth YoY | -60.281 % | |
| Earnings Growth IPRWA | high: 133.333 % median: -2.102 % ASR: -3.529 % mean: -7.358 % low: -163.83 % |
|
| MARGINS | ||
| Gross Margin | 26.373 % | |
| Gross Margin QoQ | -59.67 % | |
| Gross Margin YoY | -12.661 % | |
| Gross Margin IPRWA | high: 100.0 % median: 39.51 % mean: 37.286 % ASR: 26.373 % low: -30.882 % |
|
| EBIT Margin | 90.685 % | |
| EBIT Margin QoQ | 65.632 % | |
| EBIT Margin YoY | 55.728 % | |
| EBIT Margin IPRWA | ASR: 90.685 % high: 79.88 % median: 32.297 % mean: 27.522 % low: -111.468 % |
|
| Return On Sales (ROS) | 90.685 % | |
| Return On Sales QoQ | 65.632 % | |
| Return On Sales YoY | 55.728 % | |
| Return On Sales IPRWA | ASR: 90.685 % high: 79.88 % median: 32.297 % mean: 27.604 % low: -56.011 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.9 B | |
| Free Cash Flow Yield | 2.341 % | |
| Free Cash Flow Yield QoQ | -30.286 % | |
| Free Cash Flow Yield YoY | -13.264 % | |
| Free Cash Flow Yield IPRWA | high: 15.601 % ASR: 2.341 % median: 1.238 % mean: 0.708 % low: -28.881 % |
|
| Free Cash Growth | -29.818 % | |
| Free Cash Growth QoQ | 4.23 % | |
| Free Cash Growth YoY | -10.623 % | |
| Free Cash Growth IPRWA | high: 523.864 % mean: 32.627 % median: -4.396 % ASR: -29.818 % low: -645.846 % |
|
| Free Cash To Net Income | 0.566 | |
| Cash Flow Margin | 41.664 % | |
| Cash Flow To Earnings | 1.101 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 4.214 % | |
| Return On Assets QoQ | -5.832 % | |
| Return On Assets YoY | 17.611 % | |
| Return On Assets IPRWA | high: 5.012 % ASR: 4.214 % mean: 1.755 % median: 1.613 % low: -8.34 % |
|
| Return On Capital Employed (ROCE) | 10.521 % | |
| Return On Equity (ROE) | 0.063 | |
| Return On Equity QoQ | -6.322 % | |
| Return On Equity YoY | 11.568 % | |
| Return On Equity IPRWA | high: 0.145 ASR: 0.063 mean: 0.05 median: 0.048 low: -0.198 |
|
| DuPont ROE | 6.535 % | |
| Return On Invested Capital (ROIC) | 8.22 % | |
| Return On Invested Capital QoQ | -150.591 % | |
| Return On Invested Capital YoY | -137.122 % | |
| Return On Invested Capital IPRWA | high: 112.87 % ASR: 8.22 % median: -1.499 % mean: -9.721 % low: -114.699 % |
|