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Corporacion America Airports S.A.

CAAP
68
Airlines, Airports & Air Services · Industrials
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Good
Growth
Good
Cash Flow
Exceptional
Stability
Good
Valuation
Strong

Winston Score History

The full picture

Corporación América Airports is a company that runs airports. It holds long-term government contracts to operate, maintain, and collect fees at airports across South America and Europe. It is one of the largest private airport operators in the world by number of terminals, with a strong presence in Argentina, where it manages the country's main international airport in Buenos Aires.

The company makes money by charging airlines and passengers fees for using its airports — things like landing fees, terminal space rentals, and retail concessions inside the terminals. It operates roughly 50 airports across Argentina, Brazil, Italy, Ecuador, Armenia, and a few other countries. Its main competitive advantage is that government concession contracts are hard to win and create long-term, protected revenue streams. The biggest risk the business faces is its heavy exposure to Argentina, where currency controls and economic instability can significantly reduce the value of its earnings when converted to U.S. dollars.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+20.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+88.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

80.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$932M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Corporacion America Airports S.A. is a rare growth stock that's already generating positive cash flow while growing at 20%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
36.9%
Modest — 36.9% gross margin
Profit after running costs
Operating Margin
26.0%
Excellent — 26.0% operating margin
Return on the money invested
ROCE
18.7%
Strong — 18.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+13.3%
Fast-growing sales (+13.3% YoY)
Profit growth
EPS YoY
+67.0%
Earnings growing fast (+67.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
168%
Turns 168% of profit into real cash
Spare cash per sale
FCF Margin
22.2%
Converts sales into free cash efficiently (22.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.60
Moderate — manageable debt (0.60)
Covers its interest
Interest Cover
5.77x
Adequate interest coverage (5.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
13.1x
no trend
Attractive valuation — P/E 13.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+3.3
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (13.1 → 9.8)

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Dividends

Not applicable for this business.
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