Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.81, read 2026-11-05
Ethical passes the values gate
Price24.68 USD
Fair value36.00
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-11-01Read Accumulation23.74+4.0% to today ✓Markup gives way to Accumulation while volume is distributing
2026-10-18Read Markup24.66+0.1% to today ✓Distribution gives way to Markup after a 5% slide in 7 days
2026-10-11Read Distribution26.00-5.1% to today ✓Markup gives way to Distribution first Distribution read since August
2026-10-02Read Markup26.00-5.1% to today Distribution gives way to Markup first Markup read since July
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Corporación América Airports S.A. holds its Markup at $24.68. Consolidating, no directional conviction, held for 25 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 25 days
Price at the screen
$24.68
Valuation
13.26 trailing · 10.48 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.73
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
27.57%
Below 33%
Interest-bearing debt is just 27.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
17.84%
Below 33%
Cash held in interest-bearing accounts and securities is 17.8% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
2.06%
Below 5%
Only 2.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Corporación América Airports clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 28%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today CAAP passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 31% discount to our $36.00 fair value, moderate competitive moat, 12.00% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 31.4% discount to the base estimate.
Where our models see it going: fair-value estimate $36.00, with a range of $33.98 to $49.36, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Airports connecting emerging markets trade at a discount
Every time a passenger lands at one of the 52 airports this firm runs from Buenos Aires to Yerevan, landing fees and retail spend keep the cash flowing. Revenue growth of 20 percent, a 14 percent profit margin and 17 percent ROE show a concessions business converting rising travel into real earnings. The shares sit at 10.9 times forward earnings against our 36 dollar fair value, a 45 percent margin of safety that the market has yet to close.
Why it stands out. A moderate moat from long dated contracts, an ethical screen cleared without issue, and seven analysts carrying a buy rating with a 32 dollar median target all point to a straightforward infrastructure compounder in faster growing regions. The setup rewards patient holders as passenger volumes recover and expand without the premium valuations seen in developed markets.
Currency swings across Latin America, sudden aviation downturns and political pressure on concession terms remain the real threats. A moderate moat also leaves scope for renegotiations or new entrants over time. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Luxembourg and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CAAP trades on the NYSE (the company is based in Luxembourg). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (6 analysts) rates it none, with a mean price target of $32.
2026-10-25Markup$24.92+1.1%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (6 analysts) rates it none, with a mean price target of $32.
2026-10-18Markup · changed$24.66-5.2%Entry 8
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 5.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (6 analysts) rates it none, with a mean price target of $32.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (6 analysts) rates it buy, with a mean price target of $32.
2026-10-02Markup · changed$26.00-0.5%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (6 analysts) rates it buy, with a mean price target of $32.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 5.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-24Markdown · changed$24.83-6.1%Entry 4
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-18Markup$26.43+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-03Markup$26.43+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$26.43Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
