Aeroports de Paris SA ranks slightly below the peer group median, with profitability as the least supportive dimension. Trend conditions have deteriorated, without yet reaching an extreme downside state. Price behavior is partially reflecting the structural picture, with a moderate gap remaining.
Peer-relative scores, weakest to strongest
Aéroports de Paris SA operates and manages airports in the Paris region. The company is majority state-owned and subject to strict regulatory oversight.
The market prices ADP as a defensive operator with constrained flexibility, not as a dynamic growth play like privatized airports. With an operating margin of 13.2%—well below Flughafen Zürich’s 21.5%—and a ROIC of just 4.7%, the market assigns ADP a persistent discount, interpreting these figures as evidence that regulatory constraints cap both capital efficiency and profitability. Because ADP, as a state-controlled operator, is subject to strict regulation and responds slowly to new competitive threats like low-cost carriers and high-speed rail, investors see little prospect for margin or return catch-up and maintain the discount. Unlike privatized airports, the market penalizes ADP’s inability to quickly optimize fee structures or services, increasingly viewing this as a disadvantage in the European competitive landscape. Only a sustained easing of regulatory constraints or clear evidence of margin catch-up versus peers would break the current market framing.
Break down ADP.PA's position across all dimensions with the full interactive tool.
This analysis is rule-based and descriptive. Peer-relative scores are derived from functional peer group comparisons using publicly available financial data. Scores reflect structural positioning only and do not constitute investment advice, a buy or sell recommendation, or a forecast of future performance. AssetNext peer scores are recalculated periodically as new data becomes available.
AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.
Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.
Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.
Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.