Flughafen Wien AG

Flughafen Wien AG maintains a conservative capital structure with a debt-to-equity ratio of 0.04, indicating minimal leverage relative to its equity base of 1.57 billion EUR. The company holds 55.9 million EUR in long-term debt against total assets of 2.41 billion EUR. Liquidity is assessed as medium risk, supported by a current ratio of 1.59, which suggests adequate short-term asset coverage for liabilities. However, the balance sheet shows negative net cash position after accounting for total debt, as cash and equivalents are effectively negligible at -100 EUR. Operating cash flow stands at 333.3 million EUR, providing a robust internal funding source, though free cash flow is negative at -74.8 million EUR due to significant capital expenditures of 271.6 million EUR.

Profitability metrics demonstrate efficient asset utilization, with a return on equity of 11.88% and a return on assets of 7.73%. The company generated 1.13 billion EUR in revenue, resulting in a gross profit of 1.08 billion EUR, which implies a high gross margin structure typical of airport infrastructure operators with fixed cost bases. Operating income reached 279.5 million EUR, translating to a net income of 185.0 million EUR. While specific cohort median comparisons are absent from the input data, the high gross profit relative to revenue suggests strong pricing power or low direct service costs, consistent with monopoly-like infrastructure assets.

Revenue concentration is inherent to the single-asset nature of the business, with all reported revenue derived from the Vienna airport operations. No segment or geographic breakdown is provided in the available data, implying that the company’s performance is entirely dependent on the traffic volume and commercial activity at its primary hub. This lack of diversification means that any disruption to Vienna’s aviation market directly impacts the entire revenue base without offsetting performance from other regions or business lines.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current financial snapshot reflects a single normalized period, preventing the calculation of year-over-year revenue or net income trends. Consequently, the sustainability of the current 1.13 billion EUR revenue run rate and the 185 million EUR net income cannot be contextualized against prior performance cycles. The heavy capital expenditure of 271.6 million EUR suggests ongoing investment in infrastructure, which may support future capacity or efficiency but currently suppresses free cash flow.

Risk factors include medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, highlighting a reliance on operating cash flow to service obligations rather than cash reserves. The dilution risk is low, with basic and diluted shares outstanding identical at 83.9 million, indicating no significant options or convertible securities impacting the share count. The absence of strong buy analyst recommendations (0 strong buys, 1 buy, 3 holds) suggests a neutral market sentiment, with a mean price target of 54.58 EUR.

Recent observations are limited to analyst estimates, with a mean recommendation of 2.75 on a 5-point scale. The price target range spans from 52.00 EUR to 57.00 EUR, indicating a narrow consensus on valuation. No specific filing, news, or transcript observations are provided in the input data, limiting the ability to assess recent operational developments or management guidance. The analysis relies solely on the static financial snapshot and valuation metrics provided.

Revenue grew at a 29.1% CAGR over four years, demonstrating strong top-line expansion momentum.

Debt-to-equity ratio of 0.04 is significantly lower than the 0.40 cohort median.

Analysts project 9.8% upside to a mean price target of EUR 54.58.

The company faces a medium level of liquidity risk according to risk flags.

Revenue €239.6M, +6,1% YoY; Operating income +11,6% YoY.

• ▍Revenue €239.6M, +6,1% YoY
• ▍Operating income +11,6% YoY
• ▍Net income +4,3% YoY
• ▍Free cash flow −99,8% YoY
• ▍Net margin 15.5%

Revenue €283.5M, +8,9% YoY; Operating income −98,1% YoY.

• ▍Revenue €283.5M, +8,9% YoY
• ▍Operating income −98,1% YoY
• ▍Net income −130,6% YoY
• ▍Free cash flow −356,4% YoY
• ▍Net margin -3.2%

Revenue €321.0M, +5,6% YoY; Operating income +2,1% YoY.

• ▍Revenue €321.0M, +5,6% YoY
• ▍Operating income +2,1% YoY
• ▍Net income +1,8% YoY
• ▍Free cash flow −23,2% YoY
• ▍Net margin 28.4%

Revenue €298.6M, +7,4% YoY; Operating income +5,6% YoY.

• ▍Revenue €298.6M, +7,4% YoY
• ▍Operating income +5,6% YoY
• ▍Net income +5,3% YoY
• ▍Free cash flow −52,9% YoY
• ▍Net margin 22.5%

Revenue €225.9M; Operating income €48.7M.

• ▍Revenue €225.9M
• ▍Operating income €48.7M
• ▍Net margin 15.8%

Revenue €260.3M; Operating income €37.4M.

• ▍Revenue €260.3M
• ▍Operating income €37.4M
• ▍Net margin 11.3%

Revenue €1.13B, +7,2% YoY; Operating income −8,7% YoY.

• ▍Revenue €1.13B, +7,2% YoY
• ▍Operating income −8,7% YoY
• ▍Net income −14,4% YoY
• ▍Free cash flow −185,9% YoY
• ▍Net margin 16.4%

Revenue €1.05B, +13,0% YoY; Operating income +21,6% YoY.

• ▍Revenue €1.05B, +13,0% YoY
• ▍Operating income +21,6% YoY
• ▍Net income +28,4% YoY
• ▍Free cash flow −41,9% YoY
• ▍Net margin 20.5%

Revenue €931.5M, +34,5% YoY; Operating income +50,7% YoY.

• ▍Revenue €931.5M, +34,5% YoY
• ▍Operating income +50,7% YoY
• ▍Net income +56,1% YoY
• ▍Free cash flow −21,5% YoY
• ▍Net margin 18.1%

Revenue €692.7M, +70,2% YoY; Operating income +737,8% YoY.

• ▍Revenue €692.7M, +70,2% YoY
• ▍Operating income +737,8% YoY
• ▍Net income +2 787,8% YoY
• ▍Free cash flow +164,1% YoY
• ▍Net margin 15.6%

Revenue €407.0M; Operating income €20.0M.

• ▍Revenue €407.0M
• ▍Operating income €20.0M
• ▍Net margin 0.9%