Intrinsic value of Grupo Aeroportuario del Sureste ADR - ASR

Previous Close

$179.96

  Intrinsic Value

$9.59

stock screener

  Rating & Target

str. sell

-95%

Previous close

$179.96

 
Intrinsic value

$9.59

 
Up/down potential

-95%

 
Rating

str. sell

We calculate the intrinsic value of ASR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.33
  37.80
  34.52
  31.57
  28.91
  26.52
  24.37
  22.43
  20.69
  19.12
  17.71
  16.44
  15.29
  14.26
  13.34
  12.50
  11.75
  11.08
  10.47
  9.92
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.35
  7.12
  6.91
  6.72
  6.54
Revenue, $m
  494
  681
  916
  1,205
  1,553
  1,965
  2,444
  2,992
  3,611
  4,301
  5,063
  5,895
  6,797
  7,766
  8,802
  9,903
  11,067
  12,293
  13,580
  14,927
  16,335
  17,803
  19,332
  20,923
  22,578
  24,297
  26,084
  27,941
  29,871
  31,877
  33,964
Variable operating expenses, $m
 
  372
  501
  659
  850
  1,075
  1,337
  1,637
  1,975
  2,353
  2,770
  3,225
  3,718
  4,248
  4,815
  5,417
  6,053
  6,724
  7,428
  8,165
  8,935
  9,738
  10,575
  11,445
  12,350
  13,291
  14,268
  15,284
  16,339
  17,437
  18,578
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  244
  372
  501
  659
  850
  1,075
  1,337
  1,637
  1,975
  2,353
  2,770
  3,225
  3,718
  4,248
  4,815
  5,417
  6,053
  6,724
  7,428
  8,165
  8,935
  9,738
  10,575
  11,445
  12,350
  13,291
  14,268
  15,284
  16,339
  17,437
  18,578
Operating income, $m
  250
  308
  415
  546
  704
  890
  1,107
  1,355
  1,636
  1,949
  2,294
  2,671
  3,079
  3,518
  3,987
  4,486
  5,013
  5,569
  6,152
  6,762
  7,400
  8,065
  8,757
  9,478
  10,228
  11,007
  11,816
  12,657
  13,532
  14,440
  15,386
EBITDA, $m
  277
  355
  477
  628
  810
  1,024
  1,274
  1,560
  1,882
  2,242
  2,639
  3,073
  3,543
  4,049
  4,589
  5,162
  5,769
  6,408
  7,079
  7,782
  8,515
  9,281
  10,078
  10,907
  11,770
  12,666
  13,598
  14,566
  15,572
  16,618
  17,705
Interest expense (income), $m
  5
  8
  12
  18
  24
  32
  42
  53
  65
  79
  95
  113
  132
  153
  175
  199
  224
  251
  279
  309
  340
  372
  406
  441
  478
  516
  555
  596
  639
  683
  729
Earnings before tax, $m
  255
  301
  403
  528
  679
  858
  1,065
  1,303
  1,571
  1,869
  2,198
  2,558
  2,947
  3,365
  3,812
  4,287
  4,789
  5,318
  5,872
  6,453
  7,060
  7,693
  8,352
  9,037
  9,750
  10,491
  11,261
  12,061
  12,893
  13,757
  14,656
Tax expense, $m
  71
  81
  109
  143
  183
  232
  288
  352
  424
  505
  594
  691
  796
  909
  1,029
  1,158
  1,293
  1,436
  1,586
  1,742
  1,906
  2,077
  2,255
  2,440
  2,633
  2,833
  3,040
  3,256
  3,481
  3,714
  3,957
Net income, $m
  184
  219
  294
  386
  496
  626
  778
  951
  1,146
  1,364
  1,605
  1,867
  2,151
  2,457
  2,783
  3,130
  3,496
  3,882
  4,287
  4,711
  5,154
  5,616
  6,097
  6,597
  7,118
  7,658
  8,220
  8,805
  9,412
  10,043
  10,699

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  177
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,480
  1,796
  2,416
  3,179
  4,098
  5,185
  6,448
  7,895
  9,528
  11,349
  13,359
  15,555
  17,934
  20,492
  23,225
  26,129
  29,200
  32,434
  35,830
  39,386
  43,100
  46,974
  51,008
  55,206
  59,571
  64,109
  68,824
  73,723
  78,816
  84,109
  89,614
Adjusted assets (=assets-cash), $m
  1,303
  1,796
  2,416
  3,179
  4,098
  5,185
  6,448
  7,895
  9,528
  11,349
  13,359
  15,555
  17,934
  20,492
  23,225
  26,129
  29,200
  32,434
  35,830
  39,386
  43,100
  46,974
  51,008
  55,206
  59,571
  64,109
  68,824
  73,723
  78,816
  84,109
  89,614
Revenue / Adjusted assets
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
  0.379
Average production assets, $m
  1,012
  1,395
  1,876
  2,469
  3,182
  4,026
  5,007
  6,131
  7,399
  8,814
  10,374
  12,079
  13,927
  15,913
  18,036
  20,291
  22,676
  25,188
  27,825
  30,586
  33,470
  36,478
  39,612
  42,872
  46,261
  49,785
  53,446
  57,251
  61,206
  65,317
  69,592
Working capital, $m
  184
  14
  18
  24
  31
  39
  49
  60
  72
  86
  101
  118
  136
  155
  176
  198
  221
  246
  272
  299
  327
  356
  387
  418
  452
  486
  522
  559
  597
  638
  679
Total debt, $m
  226
  346
  501
  691
  919
  1,190
  1,505
  1,865
  2,271
  2,725
  3,225
  3,772
  4,364
  5,001
  5,682
  6,405
  7,170
  7,975
  8,821
  9,706
  10,631
  11,595
  12,600
  13,645
  14,732
  15,862
  17,036
  18,256
  19,524
  20,842
  22,213
Total liabilities, $m
  327
  447
  602
  792
  1,020
  1,291
  1,606
  1,966
  2,372
  2,826
  3,326
  3,873
  4,465
  5,102
  5,783
  6,506
  7,271
  8,076
  8,922
  9,807
  10,732
  11,696
  12,701
  13,746
  14,833
  15,963
  17,137
  18,357
  19,625
  20,943
  22,314
Total equity, $m
  1,153
  1,349
  1,815
  2,387
  3,078
  3,894
  4,843
  5,929
  7,155
  8,523
  10,033
  11,682
  13,468
  15,389
  17,442
  19,623
  21,929
  24,358
  26,908
  29,579
  32,368
  35,277
  38,307
  41,460
  44,738
  48,146
  51,687
  55,366
  59,191
  63,166
  67,300
Total liabilities and equity, $m
  1,480
  1,796
  2,417
  3,179
  4,098
  5,185
  6,449
  7,895
  9,527
  11,349
  13,359
  15,555
  17,933
  20,491
  23,225
  26,129
  29,200
  32,434
  35,830
  39,386
  43,100
  46,973
  51,008
  55,206
  59,571
  64,109
  68,824
  73,723
  78,816
  84,109
  89,614
Debt-to-equity ratio
  0.196
  0.260
  0.280
  0.290
  0.300
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
Adjusted equity ratio
  0.749
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  184
  219
  294
  386
  496
  626
  778
  951
  1,146
  1,364
  1,605
  1,867
  2,151
  2,457
  2,783
  3,130
  3,496
  3,882
  4,287
  4,711
  5,154
  5,616
  6,097
  6,597
  7,118
  7,658
  8,220
  8,805
  9,412
  10,043
  10,699
Depreciation, amort., depletion, $m
  27
  46
  63
  82
  106
  134
  167
  204
  247
  294
  346
  403
  464
  530
  601
  676
  756
  840
  927
  1,020
  1,116
  1,216
  1,320
  1,429
  1,542
  1,659
  1,782
  1,908
  2,040
  2,177
  2,320
Funds from operations, $m
  165
  266
  357
  468
  602
  761
  945
  1,155
  1,393
  1,658
  1,950
  2,270
  2,615
  2,987
  3,384
  3,806
  4,252
  4,721
  5,214
  5,730
  6,269
  6,832
  7,417
  8,026
  8,660
  9,318
  10,002
  10,713
  11,452
  12,220
  13,019
Change in working capital, $m
  -63
  4
  5
  6
  7
  8
  10
  11
  12
  14
  15
  17
  18
  19
  21
  22
  23
  25
  26
  27
  28
  29
  31
  32
  33
  34
  36
  37
  39
  40
  42
Cash from operations, $m
  228
  262
  352
  462
  595
  752
  935
  1,144
  1,381
  1,644
  1,935
  2,253
  2,597
  2,968
  3,363
  3,784
  4,229
  4,697
  5,189
  5,703
  6,241
  6,802
  7,386
  7,994
  8,626
  9,284
  9,966
  10,676
  11,413
  12,180
  12,977
Maintenance CAPEX, $m
  0
  -34
  -46
  -63
  -82
  -106
  -134
  -167
  -204
  -247
  -294
  -346
  -403
  -464
  -530
  -601
  -676
  -756
  -840
  -927
  -1,020
  -1,116
  -1,216
  -1,320
  -1,429
  -1,542
  -1,659
  -1,782
  -1,908
  -2,040
  -2,177
New CAPEX, $m
  -92
  -383
  -481
  -592
  -714
  -844
  -981
  -1,123
  -1,268
  -1,415
  -1,561
  -1,705
  -1,847
  -1,986
  -2,122
  -2,255
  -2,385
  -2,512
  -2,637
  -2,761
  -2,884
  -3,008
  -3,133
  -3,260
  -3,390
  -3,523
  -3,662
  -3,805
  -3,955
  -4,111
  -4,275
Cash from investing activities, $m
  -69
  -417
  -527
  -655
  -796
  -950
  -1,115
  -1,290
  -1,472
  -1,662
  -1,855
  -2,051
  -2,250
  -2,450
  -2,652
  -2,856
  -3,061
  -3,268
  -3,477
  -3,688
  -3,904
  -4,124
  -4,349
  -4,580
  -4,819
  -5,065
  -5,321
  -5,587
  -5,863
  -6,151
  -6,452
Free cash flow, $m
  159
  -154
  -176
  -193
  -201
  -198
  -180
  -146
  -92
  -17
  81
  202
  348
  517
  711
  928
  1,167
  1,429
  1,712
  2,015
  2,337
  2,678
  3,037
  3,414
  3,808
  4,218
  4,645
  5,089
  5,550
  6,029
  6,525
Issuance/(repayment) of debt, $m
  0
  123
  154
  190
  229
  271
  315
  360
  407
  454
  500
  547
  592
  637
  681
  723
  765
  805
  846
  885
  925
  965
  1,005
  1,045
  1,087
  1,130
  1,174
  1,220
  1,268
  1,318
  1,371
Issuance/(repurchase) of shares, $m
  0
  150
  172
  187
  194
  190
  171
  135
  80
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -6
  273
  326
  377
  423
  461
  486
  495
  487
  458
  500
  547
  592
  637
  681
  723
  765
  805
  846
  885
  925
  965
  1,005
  1,045
  1,087
  1,130
  1,174
  1,220
  1,268
  1,318
  1,371
Total cash flow (excl. dividends), $m
  157
  119
  150
  184
  222
  263
  305
  350
  395
  440
  581
  749
  940
  1,154
  1,391
  1,651
  1,932
  2,235
  2,557
  2,900
  3,262
  3,643
  4,042
  4,459
  4,895
  5,348
  5,819
  6,309
  6,818
  7,347
  7,896
Retained Cash Flow (-), $m
  -119
  -370
  -466
  -573
  -690
  -816
  -949
  -1,086
  -1,227
  -1,368
  -1,509
  -1,649
  -1,786
  -1,921
  -2,053
  -2,181
  -2,306
  -2,429
  -2,550
  -2,670
  -2,789
  -2,909
  -3,030
  -3,153
  -3,278
  -3,407
  -3,541
  -3,680
  -3,824
  -3,976
  -4,134
Prev. year cash balance distribution, $m
 
  174
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -77
  -316
  -388
  -468
  -553
  -643
  -737
  -832
  -928
  -928
  -900
  -847
  -767
  -661
  -530
  -374
  -195
  7
  230
  473
  734
  1,012
  1,307
  1,616
  1,940
  2,278
  2,630
  2,994
  3,371
  3,761
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -73
  -289
  -338
  -385
  -429
  -467
  -498
  -520
  -533
  -487
  -427
  -361
  -292
  -222
  -156
  -95
  -42
  1
  35
  60
  76
  84
  86
  82
  75
  66
  56
  46
  37
  28
Current shareholders' claim on cash, %
  100
  96.8
  94.3
  92.2
  90.7
  89.5
  88.7
  88.1
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9
  87.9

Grupo Aeroportuario del Sureste SAB de CV (ASUR) is a Mexico-based holding company. It and its subsidiaries hold concessions to operate, maintain and develop approximately nine airports in the southeast region of Mexico, as well as over 10 airports in Colombia. The Company operates through segments, including Cancun airport and subsidiaries (Cancun), the Villahermosa Airport (Villahermosa), the Merida airport (Merida) and Services. The airports are located in Cancun, Cozumel, Merida, Huatulco, Oaxaca, Veracruz, Villahermosa, Tapachula and Minatitlan, Mexico, and in Medellin, Colombia, among others. Approximately eight Mexican and over 80 international airlines, including the United States-based airlines, such as American Airlines and United Air Lines are operating directly or through code-sharing arrangements in its airports. It provides airport security services at its airports through third-party contractors. It also provides firefighting, rescue and aircraft maintenance services.

FINANCIAL RATIOS  of  Grupo Aeroportuario del Sureste ADR (ASR)

Valuation Ratios
P/E Ratio 293.4
Price to Sales 109.3
Price to Book 46.8
Price to Tangible Book
Price to Cash Flow 236.8
Price to Free Cash Flow 397
Growth Rates
Sales Growth Rate 8.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -37.4%
Cap. Spend. - 3 Yr. Gr. Rate 24.3%
Financial Strength
Quick Ratio 59
Current Ratio 0.2
LT Debt to Equity 19.3%
Total Debt to Equity 19.6%
Interest Coverage 52
Management Effectiveness
Return On Assets 13.4%
Ret/ On Assets - 3 Yr. Avg. 11.9%
Return On Total Capital 14.1%
Ret/ On T. Cap. - 3 Yr. Avg. 12.7%
Return On Equity 16.8%
Return On Equity - 3 Yr. Avg. 14.9%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 52.6%
Gross Margin - 3 Yr. Avg. 52.2%
EBITDA Margin 58.1%
EBITDA Margin - 3 Yr. Avg. 56.8%
Operating Margin 50.6%
Oper. Margin - 3 Yr. Avg. 49.9%
Pre-Tax Margin 51.6%
Pre-Tax Margin - 3 Yr. Avg. 49.5%
Net Profit Margin 37.2%
Net Profit Margin - 3 Yr. Avg. 36.2%
Effective Tax Rate 27.8%
Eff/ Tax Rate - 3 Yr. Avg. 26.9%
Payout Ratio 46.2%

ASR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ASR stock intrinsic value calculation we used $494 million for the last fiscal year's total revenue generated by Grupo Aeroportuario del Sureste ADR. The default revenue input number comes from 2016 income statement of Grupo Aeroportuario del Sureste ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ASR stock valuation model: a) initial revenue growth rate of 37.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ASR is calculated based on our internal credit rating of Grupo Aeroportuario del Sureste ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Grupo Aeroportuario del Sureste ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ASR stock the variable cost ratio is equal to 54.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ASR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Grupo Aeroportuario del Sureste ADR.

Corporate tax rate of 27% is the nominal tax rate for Grupo Aeroportuario del Sureste ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ASR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ASR are equal to 204.9%.

Life of production assets of 37.5 years is the average useful life of capital assets used in Grupo Aeroportuario del Sureste ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ASR is equal to 2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1153 million for Grupo Aeroportuario del Sureste ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 30.062 million for Grupo Aeroportuario del Sureste ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Grupo Aeroportuario del Sureste ADR at the current share price and the inputted number of shares is $5.4 billion.

RELATED COMPANIES Price Int.Val. Rating
PAC Grupo Aeroport 96.00 59.59  sell
OMAB Grupo Aeroport 41.67 102.08  str.buy

COMPANY NEWS

▶ Grupo Aeroportuario del Sureste posts 3Q profit   [Oct-19-17 06:17PM  Associated Press]
▶ All Eyes on InflationAnd Gold and Mining Stock Movements   [Oct-16-17 12:00PM  Market Realist]
▶ ASUR Provides Update On Colombian Acquisition   [Oct-12-17 04:47PM  PR Newswire]
▶ Which Factors Are Playing the Most on Gold and Silver Today?   [Sep-28-17 03:07PM  Market Realist]
▶ Unrest in the Market Due to North Korea: The Impact on Gold   [Sep-26-17 01:32PM  Market Realist]
▶ How North Korea Is Acting on Gold   [12:59PM  Market Realist]
▶ ASUR Announces Total Passenger Traffic for August 2017   [Sep-05-17 04:30PM  PR Newswire]
▶ How Mining Stocks Are Moving along Their Moving Averages   [Aug-07-17 09:40AM  Market Realist]
▶ ASUR Announces Total Passenger Traffic for July 2017   [Aug-03-17 04:30PM  PR Newswire]
▶ How Market Volatility Could Steer Gold   [Jul-27-17 02:05PM  Market Realist]
▶ How Closely Are Miners Tracking Precious Metals?   [Jul-24-17 01:18PM  Market Realist]
▶ Grupo Aeroportuario del Sureste posts 2Q profit   [Jul-20-17 10:27PM  Associated Press]
▶ Chart in Focus: GoldSilver Ratio Analysis   [Jul-18-17 11:32AM  Market Realist]
▶ How Precious Metal Miners Are Moving in July 2017   [Jul-14-17 12:12PM  Market Realist]
▶ Precious Metals Continued to Fall on July 7   [Jul-12-17 07:41AM  Market Realist]
▶ How Did the Feds Meeting Minutes Affect Precious Metals?   [Jul-06-17 05:05PM  Market Realist]
▶ ASUR Announces Total Passenger Traffic for June 2017   [Jul-05-17 04:31PM  PR Newswire]
▶ Is Another Fed Rate Hike in the Offing?   [02:14PM  Market Realist]
▶ What Global Scenarios Could Give Impetus to Gold?   [Jun-30-17 04:31PM  Market Realist]
▶ How a Higher Interest Rate Could Play on Precious Metals   [Jun-29-17 11:06AM  Market Realist]
▶ A Look at the Gold-Silver Ratio in June 2017   [Jun-23-17 03:35PM  Market Realist]
▶ Miners Slumped after June Fed Meeting   [Jun-16-17 12:05PM  Market Realist]
▶ What Geopolitical Concerns Have to Do with Gold   [Jun-15-17 09:07AM  Market Realist]
▶ Mining Stocks Toppled on June 8   [Jun-12-17 06:06PM  Market Realist]
▶ ASUR Announces Total Passenger Traffic for May 2017   [Jun-05-17 06:30PM  PR Newswire]
▶ How the Interest Rate Outlook Affects Gold   [May-19-17 10:37AM  Market Realist]
▶ The Gold-Silver Ratio, an Important Indicator for Silver   [May-18-17 09:07AM  Market Realist]
▶ The Rebound of Precious Metals on Wednesday, May 10   [May-11-17 03:32PM  Market Realist]
▶ Global Tremors, the Dollar, and Gold in Early May   [May-04-17 12:10PM  Market Realist]
▶ How Gold Relates to Aprils Market Volatility   [07:39AM  Market Realist]
▶ Grupo Aeroportuario del Sureste posts 1Q profit   [Apr-20-17 05:06PM  Associated Press]
▶ ASUR 1Q17 Passenger Traffic Up 8.42% YOY   [04:20PM  PR Newswire]
▶ Mining Stocks: What Are Technical Indicators Implying?   [Apr-19-17 12:00PM  Market Realist]
▶ Geopolitical Tensions Could Make Gold Shine Brighter   [Apr-17-17 05:35PM  Market Realist]
▶ Is Surging Volatility Giving Gold a Backbone?   [Apr-13-17 11:49AM  Market Realist]
▶ Analyzing Miners Performance in April 2017   [Apr-07-17 02:35PM  Market Realist]
▶ These Global Factors Are Affecting Gold   [07:37AM  Market Realist]
▶ Could Brexit and French Elections Move Precious Metals?   [Mar-30-17 02:28PM  Market Realist]
▶ Whats Boosting the Current Rise in Precious Metals?   [Mar-28-17 05:05PM  Market Realist]
▶ The Retaliation of Mining Stocks   [Mar-17-17 01:13PM  Market Realist]
▶ Outlook for Gold Prices: Assessing the Variables   [Mar-16-17 09:06AM  Market Realist]
▶ A Look at Gold as the Feds Rate Hike Looms   [07:36AM  Market Realist]
▶ The Outlook for Asian Gold Demand in 2017   [Mar-15-17 07:37AM  Market Realist]
▶ How European Politics Could Shape Gold   [Mar-14-17 05:17PM  Market Realist]
▶ ASUR Calls For A Shareholders' Meeting   [Mar-10-17 04:20PM  PR Newswire]
▶ ASUR 4Q16 Passenger Traffic Up 11.91% YOY   [Feb-22-17 04:31PM  PR Newswire]
Financial statements of ASR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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