Corporación América Airports S.A. — Cyborg Score 8/10

Strategic Profile

The company is experiencing above-average traffic growth, with January 2026 traffic rising 8.8% year-over-year driven by 14.8% international growth, and analyst consensus projects 10% revenue and 41% EPS growth for 2026. CAAP trades at 7.7x EV/EBITDA, significantly below Mexican peers, suggesting valuation upside potential.

Cyborg Score Rationale

The company served 86.7 million passengers in 2025, representing 9.8% growth over 2024. Analyst consensus projects 10% revenue and 41% EPS growth for 2026. The company maintains strong operational momentum with valuation discount to peers.

Top Insights

• International traffic grew 14.8% in January 2026 with all operating countries contributing positively, with Argentina accounting for over 50% of total YoY traffic growth.
• CAAP's 7.7x EV/EBITDA valuation is significantly below Mexican peers, with re-rating to 10x EBITDA implying 33% upside to $38/share.
• Argentina's high-margin international traffic surged 21.8% in January 2026, driven by pro-business economic reforms.
• The company expanded concessions including Seymour Airport in Galápagos through December 2067 with a $425 million Master Plan commitment.

Named Competitors

• Airport Operations — Mexican airport operator with similar business model
• European Terminal Operations — European-based airport and terminal operators

Recent Developments

• (February 2026) Reported 8.8% YoY passenger traffic growth in January 2026 with 14.8% international growth
• (Q3 2025) Delivered strong earnings driven by passenger growth and expanding EBITDA margins
• (2025) Served 86.7 million passengers, 9.8% above 2024 levels, with full-year traffic growth of 9.8%

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