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Aena SMEXMAD:AENA -1.26%98 Return-on-Tangible-Equity is 17.32% as of Mar. 2026, which is 33% below its 10-year median of 25.96. GuruFocus rates XMAD:AENA with a GF Score™ of 98/100 and a GF Value™ of €24.39 (Fairly Valued). The stock has 5 warning signs investors should review. Among 978 Transportation companies, Aena SME ranks better than 89.78% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Aena SME's annualized net income for the quarter that ended in Mar. 2026 was €1,318 Mil. Aena SME's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €7,606 Mil. Therefore, Aena SME's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 17.32%.
The historical rank and industry rank for Aena SME's Return-on-Tangible-Equity or its related term are showing as below:
XMAD:AENA'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -9.15 Med: 25.96 Max: 39.94
Current: 39.94
During the past 13 years, Aena SME's highest Return-on-Tangible-Equity was 39.94%. The lowest was -9.15%. And the median was 25.96%.
XMAD:AENA's Return-on-Tangible-Equity is ranked better than 89.78% of 978
companies
in the Transportation industry
Industry Median: 8.985
vs XMAD:AENA: 39.94
Aena SME (XMAD:AENA) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Aena SME Return-on-Tangible-Equity Related Terms
Aena SME Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Aena SME's Return-on-Tangible-Equity 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.
XMAD:AENA vs JOBY, CAAP: Return-on-Tangible-Equity Comparison
For the Airports & Air Services subindustry, Aena SME's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Transportation Industry
For the Transportation industry and Industrials sector, Aena SME's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Aena SME's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 17.32% mean?
Aena SME (XMAD:AENA) has a Return-on-Tangible-Equity of 17.32% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Aena SME and its competitors. This is 33% below median its historical median of 25.96. According to the industry distribution chart, Aena SME ranks #100 out of 978 companies in the Transportation industry, placing it in the top 10.2%.
Is Aena SME's Return-on-Tangible-Equity too high?
Aena SME's current Return-on-Tangible-Equity of 17.32% is 33% below median its 10-year median of 25.96. The Transportation industry median Return-on-Tangible-Equity is 8.99. Aena SME's value of 17.32% is 92.8% above this industry median. Based on the distribution chart, Aena SME ranks #100 out of 978 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 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aena SME's Return-on-Tangible-Equity compare to JOBY and CAAP?
According to the Transportation industry distribution chart, Aena SME ranks #100 out of 978 companies for Return-on-Tangible-Equity. This places Aena SME in the top 10% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 8.99. Aena SME's value of 17.32% is 92.8% above this benchmark. While the company's 10-year median is 25.96 vs. the industry median of 8.99, 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 Return-on-Tangible-Equity for a Transportation company?
The median Return-on-Tangible-Equity among Transportation companies is 8.99, based on 978 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aena SME's current Return-on-Tangible-Equity of 17.32% is 92.8% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Aena SME and its competitors. For the Transportation industry, the median Return-on-Tangible-Equity is 8.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aena SME's current Return-on-Tangible-Equity is 17.32%, which is 33% below median its own 10-year median of 25.96. 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 (XMAD:AENA) is currently considered Fairly Valued. The stock's GF Value™ is €24.39, compared to a current price of €26.60 — trading 9.1% above its estimated fair value. The current Return-on-Tangible-Equity is 17.32%, which is 33% below median its 10-year median of 25.96 and 92.8% above the Transportation industry median of 8.99. Aena SME's overall GF Score™ is 98/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Aena SME (XMAD:AENA), the current Return-on-Tangible-Equity is 17.32% 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 (XMAD:AENA) Overvalued in 2026?
Based on GuruFocus' analysis, Aena SME stock appears to be overvalued.
The current stock price of €26.60 is trading 9.1% above its estimated GF Value™ of €24.39.
GuruFocus considers Aena SME to be Fairly Valued.
Key valuation signals for XMAD:AENA:
Return-on-Tangible-Equity: 17.32% (33% below median its 10-year median of 25.96)
GF Value™: €24.39 vs. price of €26.60 (9.1% above fair value)
Industry Position: 92.8% above the Transportation median (#100 of 978)
No single metric tells the full story. See the XMAD:AENA 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.
98GF Score
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