AUCKLAND INTERNATIONAL AIRPORT LIMITED (AIA)
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AIA

AIA - AUCKLAND INTERNATIONAL AIRPORT LIMITED

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 3.78
Index: ASX200 | ASX300 | ALL-ORDS

Auckland International Airport Ltd was formed in 1988 when the NZ government privatised the airport. The company is listed on both the ASX and NZX.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.86

28 Aug
2025

0.000

OPEN

$6.86

0.000

HIGH

$6.86

356,346

LOW

$6.78

OTHER COMPANIES IN THE SAME SECTOR
AGL . ALX . APA . CEN . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
AIA: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 17.2 xxx
DPS (cps) 12.4 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 39.8 xxx
Dividend Yield 1.8% xxx
Div Pay Ratio(%) 72.1% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 18/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx23.6
DPS All xxxxxxxxxxxxxxx14.2
Sales/Revenue xxxxxxxxxxxxxxx883.8 M
Book Value Per Share xxxxxxxxxxxxxxx575.0
Net Operating Cash Flow xxxxxxxxxxxxxxx377.9 M
Net Profit Margin xxxxxxxxxxxxxxx43.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx4.37 %
Return on Invested Capital xxxxxxxxxxxxxxx3.54 %
Return on Assets xxxxxxxxxxxxxxx3.15 %
Return on Equity xxxxxxxxxxxxxxx4.37 %
Return on Total Capital xxxxxxxxxxxxxxx3.83 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-617.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx352 M
Long Term Debt xxxxxxxxxxxxxxx1,952 M
Total Debt xxxxxxxxxxxxxxx2,304 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx526 M
Price To Book Value xxxxxxxxxxxxxxx1.25

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx855.4 M
Capex % of Sales xxxxxxxxxxxxxxx96.79 %
Cost of Goods Sold xxxxxxxxxxxxxxx424 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx33 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,355 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

-

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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Citi

22/08/2025

3

Downgrade to Neutral from Buy

-

-

Citi notes Auckland International Airport's FY25 underlying profit after tax came in line with its estimate but was slightly above consensus.

The highlight was FY26 passenger growth guidance which disappointed, though the broker notes there is typical conservativeness in issuing guidance. The 2% y/y domestic and 3% y/y international passenger growth compared with the broker's forecast for 2.5% and 6% growth, respectively.

The broker sees an impact on retail income, with additional headwind from duty-free area fit-out disruption.

While capex and medium-term growth outlook are unchanged, the broker sees limited catalysts despite improvement in macro conditions from policy rate cuts.

Rating downgraded to Neutral from Buy. Target trimmed to NZ$8.10 from NZ$8.90.

FORECAST
Citi forecasts a full year FY26 dividend of 12.14 cents and EPS of 16.80 cents.
Citi forecasts a full year FY27 dividend of 13.06 cents and EPS of 17.16 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

26/08/2025

3

Neutral

-

-

Auckland International Airport delivered FY25 profit of NZ$309.5m, broadly in line with Jarden’s estimate of NZ$310.5m and consensus of around NZ$306m.

Revenue was slightly weaker than expected due to softer passenger volumes late in the year, while higher outsourced operations lifted costs, explains the broker.

While retail income per passenger improved to NZ$10.29 from NZ$10.16, the analysts note foreign exchange headwinds reduced overall passenger service revenue (PSR) by -9%.

FY26 guidance of NZ$280m-$320m profit is softer than expected by Jarden, with the midpoint around -NZ$10m below FY25 and -NZ$20m below consensus.

Constraints on airline seat capacity, macro softness, geopolitical issues, and construction disruption are expected to weigh on near-term performance.

Capex guidance of -NZ$1.0b-NZ$1.3b was modestly below Jarden's expectations, suggesting some delay to PSE4 project phasing. 

Jarden raises its target price to NZ$7.81 from NZ$7.75 and retains a Neutral rating.

FORECAST
Jarden forecasts a full year FY26 dividend of 12.14 cents and EPS of 15.79 cents.
Jarden forecasts a full year FY27 dividend of 12.78 cents and EPS of 18.35 cents.
Access Extra Coverage Research History >

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