Aena SME (XMAD:AENA) ROCE %: 12.08% (As of Mar. 2026)


XMAD:AENA Aena SME SA XMAD:AENA
97 GF Score
Price €27.30
GF Value €24.66
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Aena SME ROCE %?

Aena SME XMAD:AENA -0.73% 97 ROCE % is 12.08% as of Mar. 2026. GuruFocus rates XMAD:AENA with a GF Score™ of 97/100 and a GF Value™ of €24.66 (Modestly Overvalued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Aena SME's annualized ROCE % for the quarter that ended in Mar. 2026 was 12.08%.

Aena SME  (XMAD:AENA) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Aena SME ROCE % Related Terms

Aena SME ROCE % Historical Data

* Premium members only.

The historical data trend for Aena SME's ROCE % 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.

Aena SME ROCE % Chart

Aena SME Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.78 9.11 16.31 18.79 19.79

Aena SME Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.48 23.74 26.56 44.84 12.08
XMAD:AENA
97GF Score
Aena SME SA XMAD:AENA
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Aena SME ROCE % Calculation

Aena SME's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=3112.686/( ( (17263.37 - 2234.385) + (18192.599 - 1772.206) )/ 2 )
=3112.686/( (15028.985+16420.393)/ 2 )
=3112.686/15724.689
=19.79 %

Aena SME's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=2031.116/( ( (18192.599 - 1772.206) + (19194.432 - 2000.162) )/ 2 )
=2031.116/( ( 16420.393 + 17194.27 )/ 2 )
=2031.116/16807.3315
=12.08 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 12.08% mean?
Aena SME (XMAD:AENA) has a ROCE % of 12.08% as of Mar. 2026.
Is Aena SME's ROCE % too high?
Aena SME's current ROCE % is 12.08%. The Transportation industry median ROCE % is 7.74. Aena SME's value of 12.08% is 56.1% above this industry median. Overall, Aena SME has a GF Score™ of 97/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aena SME's ROCE % compare to JOBY and CAAP?
Aena SME's ROCE % of 12.08% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.74. Aena SME's value of 12.08% is 56.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Transportation company?
The median ROCE % among Transportation companies is 7.74, based on 997 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aena SME's current ROCE % of 12.08% is 56.1% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median ROCE % is 7.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aena SME's current ROCE % is 12.08%. 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 Modestly Overvalued. The stock's GF Value™ is €24.66, compared to a current price of €27.30 — trading 10.7% above its estimated fair value. The current ROCE % is 12.08% and 56.1% above the Transportation industry median of 7.74. Aena SME's overall GF Score™ is 97/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Aena SME (XMAD:AENA), the current ROCE % is 12.08% 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 €27.30 is trading 10.7% above its estimated GF Value™ of €24.66. GuruFocus considers Aena SME to be Modestly Overvalued.

Key valuation signals for XMAD:AENA:

  • ROCE %: 12.08%
  • GF Value™: €24.66 vs. price of €27.30 (10.7% above fair value)
  • GF Score™: 97/100 with 5 warning signs
  • Industry Position: 56.1% above the Transportation median

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 SME Business Description

Address Calle Peonias, 12, Madrid, ESP, 28042
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.
97GF Score

Get the complete analysis for XMAD:AENA

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€27.30
Price
€24.66
GF Value