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Athens International AirportATH:AIA -1.32%33 Owner Earnings per Share (TTM) is 0.89 as of Dec. 2025. GuruFocus rates ATH:AIA with a GF Score™ of 33/100. The stock has 5 warning signs investors should review. Among 536 Transportation companies, Athens International Airport ranks better than 56.72% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Athens International Airport's Owner Earnings per Share (TTM) ended in Dec. 2025 was €0.89. It's Price-to-Owner-Earnings ratio for today is 11.78.
The historical rank and industry rank for Athens International Airport's Owner Earnings per Share (TTM) or its related term are showing as below:
ATH:AIA'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.88 Med: 11.78 Max: 29.3
Current: 11.89
ATH:AIA's Price-to-Owner-Earnings is ranked better than 56.72% of 536
companies
in the Transportation industry
Industry Median: 14.18
vs ATH:AIA: 11.89
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Athens International Airport Owner Earnings per Share (TTM) Related Terms
Athens International Airport Owner Earnings per Share (TTM) Historical Data
* 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.
Athens International Airport Owner Earnings per Share (TTM) Chart
ATH:AIA vs JOBY: Owner Earnings per Share (TTM) Comparison
For the Airports & Air Services subindustry, Athens International Airport's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.
Athens International Airport Price-to-Owner-Earnings vs Transportation Industry
For the Transportation industry and Industrials sector, Athens International Airport's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Athens International Airport's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Athens International Airport's Change In Deferred Tax for the trailing twelve months (TTM) ended in Dec. 2025 was €0.0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = €47.1 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Athens International Airport's 5-Year Average Maintenance Capital Expenditure = €47.1 Mil
5. "Change In Working Capital" is from cashflow statement. Athens International Airport's Change In Working Capital for the trailing twelve months (TTM) ended in Dec. 2025 was €29.2 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 0.89 mean?
Athens International Airport (ATH:AIA) has a Owner Earnings per Share (TTM) of 0.89 as of Dec. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Athens International Airport. According to the industry distribution chart, Athens International Airport ranks #232 out of 536 companies in the Transportation industry, placing it in the top 43.3%.
Is Athens International Airport's Owner Earnings per Share (TTM) too high?
Athens International Airport's current Owner Earnings per Share (TTM) is 0.89. The Transportation industry median Owner Earnings per Share (TTM) is 14.18. Athens International Airport's value of 0.89 is 93.7% below this industry median. Based on the distribution chart, Athens International Airport ranks #232 out of 536 companies in the Transportation industry, which is above the industry midpoint. Overall, Athens International Airport has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does Athens International Airport's Owner Earnings per Share (TTM) compare to JOBY?
According to the Transportation industry distribution chart, Athens International Airport ranks #232 out of 536 companies for Owner Earnings per Share (TTM). This puts Athens International Airport in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 14.18. Athens International Airport's value of 0.89 is 93.7% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Transportation company?
The median Owner Earnings per Share (TTM) among Transportation companies is 14.18, based on 536 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Athens International Airport's current Owner Earnings per Share (TTM) of 0.89 is 93.7% below 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Athens International Airport. For the Transportation industry, the median Owner Earnings per Share (TTM) is 14.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Athens International Airport's current Owner Earnings per Share (TTM) is 0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Athens International Airport stock overvalued right now?
Athens International Airport (ATH:AIA) has a current Owner Earnings per Share (TTM) of 0.89. The current Owner Earnings per Share (TTM) is 0.89 and 93.7% below the Transportation industry median of 14.18. Athens International Airport's overall GF Score™ is 33/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Athens International Airport (ATH:AIA), the current Owner Earnings per Share (TTM) is 0.89 as of Dec. 2025. 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.
Athens International Airport SA is engaged in the design, financing, construction, completion, commissioning, maintenance, operation, management, and development of the Athens International Airport . The company's operating segments are: Air activities and Non-air activities. The maximum revenue is generated from its Air activities segment, which includes the provision at the Airport of any facilities like the landing, parking, or taking-off of aircraft; the servicing of aircraft; and the handling of passengers, among others. The Non-air activities segment represents revenues from non-air activities, mainly consisting of car parking, food and beverage, duty-free, retail shops, building/office rental, and other commercial services.
33GF Score
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