Intrinsic value of Grupo Aeroportuario del Sureste, S.A. de - ASR

Previous Close

$168.75

  Intrinsic Value

$905.34

stock screener

  Rating & Target

str. buy

+437%

Previous close

$168.75

 
Intrinsic value

$905.34

 
Up/down potential

+437%

 
Rating

str. buy

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 0001), $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 5.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  36.10
  32.99
  30.19
  27.67
  25.40
  23.36
  21.53
  19.88
  18.39
  17.05
  15.84
  14.76
  13.78
  12.91
  12.11
  11.40
  10.76
  10.19
  9.67
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
Revenue, $m
  871
  1,158
  1,508
  1,925
  2,415
  2,979
  3,620
  4,340
  5,137
  6,013
  6,966
  7,994
  9,096
  10,270
  11,514
  12,827
  14,208
  15,655
  17,168
  18,748
  20,394
  22,108
  23,891
  25,744
  27,670
  29,671
  31,751
  33,912
  36,160
  38,498
Variable operating expenses, $m
  338
  365
  398
  437
  483
  536
  596
  664
  739
  821
  655
  751
  855
  965
  1,082
  1,206
  1,336
  1,472
  1,614
  1,762
  1,917
  2,078
  2,246
  2,420
  2,601
  2,789
  2,985
  3,188
  3,399
  3,619
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
  338
  365
  398
  437
  483
  536
  596
  664
  739
  821
  655
  751
  855
  965
  1,082
  1,206
  1,336
  1,472
  1,614
  1,762
  1,917
  2,078
  2,246
  2,420
  2,601
  2,789
  2,985
  3,188
  3,399
  3,619
Operating income, $m
  533
  794
  1,110
  1,488
  1,932
  2,443
  3,024
  3,676
  4,399
  5,192
  6,311
  7,243
  8,241
  9,305
  10,432
  11,621
  12,872
  14,183
  15,555
  16,986
  18,477
  20,030
  21,645
  23,324
  25,069
  26,882
  28,766
  30,725
  32,761
  34,879
EBITDA, $m
  830
  1,104
  1,437
  1,835
  2,301
  2,839
  3,450
  4,136
  4,896
  5,731
  6,639
  7,619
  8,669
  9,788
  10,974
  12,226
  13,541
  14,921
  16,363
  17,869
  19,438
  21,071
  22,770
  24,536
  26,372
  28,279
  30,261
  32,322
  34,464
  36,692
Interest expense (income), $m
  5
  51
  83
  122
  170
  228
  295
  373
  461
  560
  669
  790
  921
  1,062
  1,214
  1,375
  1,546
  1,727
  1,916
  2,115
  2,323
  2,541
  2,767
  3,003
  3,248
  3,502
  3,767
  4,042
  4,328
  4,625
  4,934
Earnings before tax, $m
  482
  711
  988
  1,318
  1,704
  2,148
  2,651
  3,215
  3,839
  4,523
  5,521
  6,322
  7,179
  8,091
  9,057
  10,075
  11,146
  12,267
  13,439
  14,662
  15,937
  17,263
  18,642
  20,076
  21,566
  23,115
  24,724
  26,396
  28,135
  29,944
Tax expense, $m
  130
  192
  267
  356
  460
  580
  716
  868
  1,036
  1,221
  1,491
  1,707
  1,938
  2,185
  2,445
  2,720
  3,009
  3,312
  3,629
  3,959
  4,303
  4,661
  5,033
  5,421
  5,823
  6,241
  6,675
  7,127
  7,597
  8,085
Net income, $m
  352
  519
  721
  962
  1,244
  1,568
  1,935
  2,347
  2,802
  3,302
  4,031
  4,615
  5,241
  5,906
  6,611
  7,355
  8,136
  8,955
  9,811
  10,704
  11,634
  12,602
  13,609
  14,656
  15,743
  16,874
  18,048
  19,269
  20,539
  21,859

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  3,738
  4,972
  6,473
  8,264
  10,363
  12,784
  15,537
  18,625
  22,049
  25,808
  29,897
  34,310
  39,039
  44,077
  49,417
  55,052
  60,977
  67,189
  73,685
  80,464
  87,530
  94,885
  102,535
  110,488
  118,754
  127,343
  136,269
  145,546
  155,193
  165,226
Adjusted assets (=assets-cash), $m
  3,738
  4,972
  6,473
  8,264
  10,363
  12,784
  15,537
  18,625
  22,049
  25,808
  29,897
  34,310
  39,039
  44,077
  49,417
  55,052
  60,977
  67,189
  73,685
  80,464
  87,530
  94,885
  102,535
  110,488
  118,754
  127,343
  136,269
  145,546
  155,193
  165,226
Revenue / Adjusted assets
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
Average production assets, $m
  1,231
  1,637
  2,131
  2,721
  3,412
  4,209
  5,115
  6,132
  7,259
  8,497
  9,843
  11,296
  12,853
  14,511
  16,269
  18,125
  20,075
  22,120
  24,259
  26,491
  28,817
  31,239
  33,758
  36,376
  39,097
  41,925
  44,864
  47,918
  51,094
  54,397
Working capital, $m
  -85
  -114
  -148
  -189
  -237
  -292
  -355
  -425
  -503
  -589
  -683
  -783
  -891
  -1,006
  -1,128
  -1,257
  -1,392
  -1,534
  -1,683
  -1,837
  -1,999
  -2,167
  -2,341
  -2,523
  -2,712
  -2,908
  -3,112
  -3,323
  -3,544
  -3,773
Total debt, $m
  1,452
  2,146
  2,989
  3,996
  5,176
  6,536
  8,083
  9,818
  11,743
  13,856
  16,154
  18,634
  21,291
  24,123
  27,124
  30,291
  33,621
  37,112
  40,762
  44,572
  48,543
  52,677
  56,976
  61,446
  66,091
  70,918
  75,934
  81,149
  86,570
  92,208
Total liabilities, $m
  2,101
  2,794
  3,638
  4,644
  5,824
  7,185
  8,732
  10,467
  12,392
  14,504
  16,802
  19,282
  21,940
  24,771
  27,772
  30,939
  34,269
  37,760
  41,411
  45,221
  49,192
  53,325
  57,625
  62,094
  66,740
  71,567
  76,583
  81,797
  87,218
  92,857
Total equity, $m
  1,637
  2,178
  2,835
  3,620
  4,539
  5,600
  6,805
  8,158
  9,658
  11,304
  13,095
  15,028
  17,099
  19,306
  21,645
  24,113
  26,708
  29,429
  32,274
  35,243
  38,338
  41,560
  44,910
  48,394
  52,014
  55,776
  59,686
  63,749
  67,974
  72,369
Total liabilities and equity, $m
  3,738
  4,972
  6,473
  8,264
  10,363
  12,785
  15,537
  18,625
  22,050
  25,808
  29,897
  34,310
  39,039
  44,077
  49,417
  55,052
  60,977
  67,189
  73,685
  80,464
  87,530
  94,885
  102,535
  110,488
  118,754
  127,343
  136,269
  145,546
  155,192
  165,226
Debt-to-equity ratio
  0.890
  0.990
  1.050
  1.100
  1.140
  1.170
  1.190
  1.200
  1.220
  1.230
  1.230
  1.240
  1.250
  1.250
  1.250
  1.260
  1.260
  1.260
  1.260
  1.260
  1.270
  1.270
  1.270
  1.270
  1.270
  1.270
  1.270
  1.270
  1.270
  1.270
Adjusted equity ratio
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438
  0.438

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  352
  519
  721
  962
  1,244
  1,568
  1,935
  2,347
  2,802
  3,302
  4,031
  4,615
  5,241
  5,906
  6,611
  7,355
  8,136
  8,955
  9,811
  10,704
  11,634
  12,602
  13,609
  14,656
  15,743
  16,874
  18,048
  19,269
  20,539
  21,859
Depreciation, amort., depletion, $m
  297
  311
  327
  347
  370
  396
  427
  460
  498
  539
  328
  377
  428
  484
  542
  604
  669
  737
  809
  883
  961
  1,041
  1,125
  1,213
  1,303
  1,397
  1,495
  1,597
  1,703
  1,813
Funds from operations, $m
  649
  829
  1,048
  1,309
  1,614
  1,964
  2,362
  2,807
  3,300
  3,841
  4,359
  4,992
  5,669
  6,390
  7,154
  7,959
  8,805
  9,692
  10,619
  11,587
  12,594
  13,643
  14,734
  15,868
  17,047
  18,271
  19,544
  20,867
  22,242
  23,673
Change in working capital, $m
  -23
  -28
  -34
  -41
  -48
  -55
  -63
  -71
  -78
  -86
  -93
  -101
  -108
  -115
  -122
  -129
  -135
  -142
  -148
  -155
  -161
  -168
  -175
  -182
  -189
  -196
  -204
  -212
  -220
  -229
Cash from operations, $m
  672
  858
  1,083
  1,350
  1,661
  2,019
  2,425
  2,878
  3,379
  3,927
  4,452
  5,092
  5,777
  6,505
  7,276
  8,088
  8,941
  9,834
  10,768
  11,741
  12,756
  13,811
  14,909
  16,050
  17,235
  18,467
  19,748
  21,078
  22,462
  23,902
Maintenance CAPEX, $m
  -30
  -41
  -55
  -71
  -91
  -114
  -140
  -171
  -204
  -242
  -283
  -328
  -377
  -428
  -484
  -542
  -604
  -669
  -737
  -809
  -883
  -961
  -1,041
  -1,125
  -1,213
  -1,303
  -1,397
  -1,495
  -1,597
  -1,703
New CAPEX, $m
  -326
  -406
  -494
  -590
  -691
  -797
  -906
  -1,017
  -1,127
  -1,238
  -1,346
  -1,453
  -1,557
  -1,659
  -1,758
  -1,855
  -1,951
  -2,045
  -2,139
  -2,232
  -2,326
  -2,422
  -2,519
  -2,618
  -2,721
  -2,828
  -2,939
  -3,055
  -3,176
  -3,303
Cash from investing activities, $m
  -356
  -447
  -549
  -661
  -782
  -911
  -1,046
  -1,188
  -1,331
  -1,480
  -1,629
  -1,781
  -1,934
  -2,087
  -2,242
  -2,397
  -2,555
  -2,714
  -2,876
  -3,041
  -3,209
  -3,383
  -3,560
  -3,743
  -3,934
  -4,131
  -4,336
  -4,550
  -4,773
  -5,006
Free cash flow, $m
  315
  410
  534
  689
  880
  1,109
  1,378
  1,691
  2,047
  2,447
  2,823
  3,311
  3,844
  4,418
  5,034
  5,690
  6,386
  7,120
  7,892
  8,701
  9,547
  10,429
  11,349
  12,306
  13,302
  14,336
  15,411
  16,528
  17,689
  18,895
Issuance/(repayment) of debt, $m
  555
  693
  844
  1,007
  1,180
  1,361
  1,547
  1,735
  1,925
  2,113
  2,298
  2,480
  2,658
  2,831
  3,001
  3,167
  3,330
  3,491
  3,651
  3,810
  3,971
  4,134
  4,299
  4,470
  4,645
  4,827
  5,016
  5,214
  5,421
  5,639
Issuance/(repurchase) of shares, $m
  82
  21
  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 from financing (excl. dividends), $m  
  637
  714
  844
  1,007
  1,180
  1,361
  1,547
  1,735
  1,925
  2,113
  2,298
  2,480
  2,658
  2,831
  3,001
  3,167
  3,330
  3,491
  3,651
  3,810
  3,971
  4,134
  4,299
  4,470
  4,645
  4,827
  5,016
  5,214
  5,421
  5,639
Total cash flow (excl. dividends), $m
  953
  1,125
  1,377
  1,696
  2,059
  2,469
  2,925
  3,426
  3,971
  4,560
  5,121
  5,791
  6,501
  7,249
  8,035
  8,857
  9,716
  10,611
  11,542
  12,511
  13,517
  14,563
  15,648
  16,776
  17,947
  19,163
  20,428
  21,743
  23,110
  24,534
Retained Cash Flow (-), $m
  -434
  -540
  -657
  -785
  -920
  -1,061
  -1,205
  -1,353
  -1,500
  -1,646
  -1,791
  -1,933
  -2,071
  -2,207
  -2,339
  -2,468
  -2,595
  -2,721
  -2,845
  -2,970
  -3,095
  -3,222
  -3,351
  -3,483
  -3,620
  -3,762
  -3,910
  -4,064
  -4,225
  -4,394
Prev. year cash balance distribution, $m
  121
  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
  639
  585
  720
  911
  1,140
  1,409
  1,720
  2,074
  2,471
  2,913
  3,330
  3,859
  4,430
  5,043
  5,696
  6,389
  7,121
  7,890
  8,697
  9,541
  10,423
  11,341
  12,298
  13,292
  14,326
  15,401
  16,518
  17,679
  18,885
  20,139
Discount rate, %
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
  611
  531
  619
  737
  863
  993
  1,121
  1,242
  1,351
  1,441
  1,479
  1,526
  1,545
  1,536
  1,499
  1,438
  1,353
  1,251
  1,135
  1,011
  883
  757
  635
  522
  421
  331
  255
  191
  140
  100
Current shareholders' claim on cash, %
  98.2
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9
  97.9

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, S.A. de (ASR)

Valuation Ratios
P/E Ratio 275.1
Price to Sales 102.5
Price to Book 43.9
Price to Tangible Book
Price to Cash Flow 222
Price to Free Cash Flow 372.2
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 $640 million for the last fiscal year's total revenue generated by Grupo Aeroportuario del Sureste, S.A. de. The default revenue input number comes from 0001 income statement of Grupo Aeroportuario del Sureste, S.A. de. 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 36.1% 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 4.7%, whose default value for ASR is calculated based on our internal credit rating of Grupo Aeroportuario del Sureste, S.A. de, 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, S.A. de.
    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 49.4%.

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 5.7% for Grupo Aeroportuario del Sureste, S.A. de.

Corporate tax rate of 27% is the nominal tax rate for Grupo Aeroportuario del Sureste, S.A. de. 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 141.3%.

Life of production assets of 30.2 years is the average useful life of capital assets used in Grupo Aeroportuario del Sureste, S.A. de 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 -9.8%. 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 - $1323.8473818 million for Grupo Aeroportuario del Sureste, S.A. de - 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 29.972 million for Grupo Aeroportuario del Sureste, S.A. de 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, S.A. de at the current share price and the inputted number of shares is $5.1 billion.

RELATED COMPANIES Price Int.Val. Rating
PAC Grupo Aeroport 105.70 190.87  str.buy
OMAB Grupo Aeroport 50.59 213.82  str.buy

CONTACT US      

About X-FIN       Privacy policy       Terms of use      

Copyright © X-FIN.com 2005-2019. All rigths reserved.