FLUGHAFEN ZÜRICH AG |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 187.7 CHF | +0.43% |
|
-1.98% | +6.89% |
| Apr. 11 | Flughafen Zürich Posts 12% Jump in March Passenger Traffic; Turnover Up | MT |
| Mar. 25 | Switzerland's Federal Office of Civil Aviation Seeks Stakeholder Feedback on Zurich Airport Charges | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,425 | 4,792 | 5,038 | 4,393 | 5,391 | 5,762 | - | - |
| Enterprise Value (EV) 1 | 6,286 | 5,839 | 6,425 | 5,684 | 5,391 | 7,147 | 7,083 | 6,921 |
| P/E ratio | 17.5 x | -69.4 x | -497 x | 21.2 x | 17.7 x | 17.4 x | 16.5 x | 16.5 x |
| Yield | 4.02% | - | - | 2.45% | - | 2.97% | 3.05% | 3.33% |
| Capitalization / Revenue | 4.48 x | 7.68 x | 7.41 x | 4.29 x | 4.36 x | 4.41 x | 4.22 x | 4.08 x |
| EV / Revenue | 5.19 x | 9.36 x | 9.45 x | 5.55 x | 4.36 x | 5.47 x | 5.19 x | 4.9 x |
| EV / EBITDA | 9.79 x | 29.8 x | 21.5 x | 10.2 x | 7.97 x | 9.74 x | 9.11 x | 8.64 x |
| EV / FCF | -24 x | -23.2 x | 253 x | 22.5 x | 22.2 x | 30.9 x | 27.1 x | 22.2 x |
| FCF Yield | -4.16% | -4.3% | 0.4% | 4.45% | 4.51% | 3.23% | 3.69% | 4.51% |
| Price to Book | 2.2 x | 2.05 x | 2.09 x | 1.64 x | - | 1.92 x | 1.82 x | 1.74 x |
| Nbr of stocks (in thousands) | 30,700 | 30,699 | 30,698 | 30,701 | 30,701 | 30,697 | - | - |
| Reference price 2 | 176.7 | 156.1 | 164.1 | 143.1 | 175.6 | 187.7 | 187.7 | 187.7 |
| Announcement Date | 3/10/20 | 3/12/21 | 3/8/22 | 3/9/23 | 3/7/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,210 | 624 | 680 | 1,024 | 1,236 | 1,306 | 1,365 | 1,413 |
| EBITDA 1 | 641.8 | 196 | 299.2 | 555.6 | 676.7 | 734.1 | 777.6 | 801.2 |
| EBIT 1 | 403.1 | -56.5 | 19.1 | 260.2 | 389.9 | 432.6 | 461.5 | 474.2 |
| Operating Margin | 33.31% | -9.05% | 2.81% | 25.42% | 31.54% | 33.13% | 33.81% | 33.57% |
| Earnings before Tax (EBT) 1 | 386.5 | -84.5 | -13.7 | 240.3 | 377.7 | 421.2 | 434.3 | 443.7 |
| Net income 1 | 309.1 | -69.1 | -10.1 | 207 | 304.2 | 332.3 | 347.9 | 351.4 |
| Net margin | 25.54% | -11.07% | -1.49% | 20.22% | 24.61% | 25.45% | 25.49% | 24.88% |
| EPS 2 | 10.07 | -2.250 | -0.3300 | 6.740 | 9.910 | 10.78 | 11.40 | 11.37 |
| Free Cash Flow 1 | -261.4 | -251.2 | 25.4 | 253 | 243 | 231 | 261.2 | 312 |
| FCF margin | -21.6% | -40.26% | 3.74% | 24.72% | 19.66% | 17.69% | 19.13% | 22.09% |
| FCF Conversion (EBITDA) | - | - | 8.49% | 45.54% | 35.91% | 31.47% | 33.58% | 38.94% |
| FCF Conversion (Net income) | - | - | - | 122.22% | 79.88% | 69.51% | 75.07% | 88.79% |
| Dividend per Share 2 | 7.100 | - | - | 3.500 | - | 5.579 | 5.718 | 6.244 |
| Announcement Date | 3/10/20 | 3/12/21 | 3/8/22 | 3/9/23 | 3/7/24 | - | - | - |
1CHF in Million2CHF
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 622.1 | 310.4 | 313.6 | 263.6 | 416.4 | 458.3 | 565.2 | 576.7 | 659.6 | 622.6 | 650.7 |
| EBITDA | 338.1 | 104.9 | 91.1 | 92.2 | 207 | 238.3 | 317.3 | 323.8 | 352.9 | - | - |
| EBIT | 215.4 | -18.4 | -38.1 | -42.6 | 61.7 | 96.3 | 163.9 | 181.2 | 208.7 | - | - |
| Operating Margin | 34.62% | -5.93% | -12.15% | -16.16% | 14.82% | 21.01% | 29% | 31.42% | 31.64% | - | - |
| Earnings before Tax (EBT) | 204.3 | -22.2 | -62.3 | -56.2 | 42.5 | 69.4 | 170.9 | 172.6 | 205.1 | - | - |
| Net income | 165.7 | -27.5 | -41.6 | -45 | 34.9 | 55.4 | 151.6 | 138.1 | 166.1 | - | - |
| Net margin | 26.64% | -8.86% | -13.27% | -17.07% | 8.38% | 12.09% | 26.82% | 23.95% | 25.18% | - | - |
| EPS | 5.400 | - | -1.350 | -1.470 | 1.140 | 1.800 | - | 4.500 | 5.410 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/10/20 | 8/21/20 | 3/12/21 | 8/24/21 | 3/8/22 | 8/23/22 | 3/9/23 | 8/26/23 | 3/7/24 | - | - |
1CHF in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 861 | 1,047 | 1,388 | 1,290 | - | 1,386 | 1,321 | 1,159 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.342 x | 5.341 x | 4.638 x | 2.322 x | - | 1.888 x | 1.699 x | 1.447 x |
| Free Cash Flow 1 | -261 | -251 | 25.4 | 253 | 243 | 231 | 261 | 312 |
| ROE (net income / shareholders' equity) | 12.7% | -2.88% | -0.4% | 8.1% | - | 11.8% | 11.3% | 11.4% |
| ROA (Net income/ Total Assets) | 6.9% | -1.43% | - | 4.07% | - | 6.36% | 6.41% | 6.37% |
| Assets 1 | 4,479 | 4,830 | - | 5,089 | - | 5,227 | 5,426 | 5,518 |
| Book Value Per Share 2 | 80.40 | 76.10 | 78.50 | 87.30 | - | 97.80 | 103.0 | 108.0 |
| Cash Flow per Share 2 | 16.70 | 4.800 | 7.550 | 15.90 | - | 21.40 | 21.30 | 22.80 |
| Capex 1 | 773 | 399 | 206 | 235 | 438 | 677 | 441 | 331 |
| Capex / Sales | 63.89% | 63.87% | 30.34% | 22.96% | 35.43% | 51.87% | 32.3% | 23.45% |
| Announcement Date | 3/10/20 | 3/12/21 | 3/8/22 | 3/9/23 | 3/7/24 | - | - | - |
1CHF in Million2CHF
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
187.7
CHF
Average target price
214.8
CHF
Spread / Average Target
+14.41%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.89% | 6.3B | |
| +7.13% | 28.15B | |
| +14.40% | 12.88B | |
| +1.11% | 12.49B | |
| +22.68% | 10.66B | |
| +6.10% | 9.26B | |
| -11.93% | 6.8B | |
| +12.66% | 6.57B | |
| +38.59% | 3.57B | |
| -8.00% | 2.77B |
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