Aena SMEHAM:A441 -1.96%93 Gross Margin % is 70.85% as of Mar. 2026, which is 15% above its 10-year median of 61.85. GuruFocus rates HAM:A441 with a GF Score™ of 93/100 and a GF Value™ of €24.61 (Fairly Valued). The stock has 5 warning signs investors should review. Among 977 Transportation companies, Aena SME ranks better than 95.7% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Aena SME's Gross Profit for the
three
months ended in Mar. 2026 was €1,039 Mil. Aena SME's Revenue for the
three
months ended in Mar. 2026 was €1,466 Mil. Therefore, Aena SME's Gross Margin % for the quarter that ended in Mar. 2026 was 70.85%.
The historical rank and industry rank for Aena SME's Gross Margin % or its related term are showing as below:
HAM:A441'
s Gross Margin % Range Over the Past 10 Years
Min: 31.44 Med: 61.85 Max: 74.88
Current: 74.88
During the past 13 years, the highestGross Margin % of Aena SME was 74.88%. The lowest was 31.44%. And the median was 61.85%.
HAM:A441's Gross Margin % is ranked better than 95.7% of 977
companies
in the Transportation industry
Industry Median: 20.42
vs HAM:A441: 74.88
Aena SME had a gross margin of 70.85% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Aena SME was 18.40% per year.
Aena SME (HAM:A441) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Aena SME had a gross margin of 70.85% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Aena SME Gross Margin % Related Terms
Aena SME Gross Margin % Historical Data
* Premium members only.
The historical data trend for Aena SME's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Airports & Air Services subindustry, Aena SME's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Aena SME Gross Margin % vs Transportation Industry
For the Transportation industry and Industrials sector, Aena SME's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Aena SME's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Aena SME (HAM:A441) has a Gross Margin % of 70.85% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Aena SME and its competitors. This is 15% above median its historical median of 61.85. Over the past decade, Aena SME's Gross Margin % has ranged from 31.44 to 74.88. According to the industry distribution chart, Aena SME ranks #42 out of 977 companies in the Transportation industry, placing it in the top 4.3%.
Is Aena SME's Gross Margin % too high?
Aena SME's current Gross Margin % of 70.85% is 15% above median its 10-year median of 61.85. Over the past 10 years, this metric has ranged from a low of 31.44 to a high of 74.88. The Transportation industry median Gross Margin % is 20.42. Aena SME's value of 70.85% is 247% above this industry median. Based on the distribution chart, Aena SME ranks #42 out of 977 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Aena SME has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aena SME's Gross Margin % compare to JOBY and CAAP?
According to the Transportation industry distribution chart, Aena SME ranks #42 out of 977 companies for Gross Margin %. This places Aena SME in the top 4% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 20.42. Aena SME's value of 70.85% is 247% above this benchmark. Historically, Aena SME's own Gross Margin % has ranged from 31.44 to 74.88 over the past decade. While the company's 10-year median is 61.85 vs. the industry median of 20.42, Aena SME has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Transportation company?
The median Gross Margin % among Transportation companies is 20.42, based on 977 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aena SME's current Gross Margin % of 70.85% is 247% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Aena SME and its competitors. For the Transportation industry, the median Gross Margin % is 20.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aena SME's current Gross Margin % is 70.85%, which is 15% above median its own 10-year median of 61.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aena SME stock overvalued right now?
Based on GuruFocus' analysis, Aena SME (HAM:A441) is currently considered Fairly Valued. The stock's GF Value™ is €24.61, compared to a current price of €26.96 — trading 9.5% above its estimated fair value. The current Gross Margin % is 70.85%, which is 15% above median its 10-year median of 61.85 and 247% above the Transportation industry median of 20.42. Aena SME's overall GF Score™ is 93/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Aena SME (HAM:A441), the current Gross Margin % is 70.85% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Aena SME (HAM:A441) Overvalued in 2026?
Based on GuruFocus' analysis, Aena SME stock appears to be overvalued.
The current stock price of €26.96 is trading 9.5% above its estimated GF Value™ of €24.61.
GuruFocus considers Aena SME to be Fairly Valued.
Key valuation signals for HAM:A441:
Gross Margin %: 70.85% (15% above median its 10-year median of 61.85)
GF Value™: €24.61 vs. price of €26.96 (9.5% above fair value)
Industry Position: 247% above the Transportation median (#42 of 977)
No single metric tells the full story. See the HAM:A441 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aena's 46 airports in Spain handle 99.9% of the country's air traffic. Its three busiest airports—Madrid-Barajas, Barcelona-El Prat, and Palma de Mallorca—account for roughly half of Spain's passengers. The dual-till framework in Spain leaves its commercial and real estate businesses completely unregulated, allowing the group to monetize its passenger flow and earn economic rents. It is launching a transformational EUR 13 billion DORA III investment cycle (2027-31) to expand capacity across its Spanish network. The group also controls three airports in the UK (Luton, Leeds Bradford, and Newcastle) and 18 airports in Brazil. It has minority holdings in 12 airports in Mexico and two in Jamaica through its 6.4% look-through stake in Grupo Aeroportuario del Pacifico.
93GF Score
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