Grupo Aeroportuario del Sureste, S. A. B. de C. V.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF (USD): $600M normalized FCF base (below margin-implied level to account for the current mandatory-investment-program capex cycle); 6% annual FCF growth years 1-5; 4% years 6-10; 9.5% discount rate; 2.5% terminal growth; ~$875M net debt; 30.46M diluted ADS outstanding.

Reasoning: ASUR is a concession-based airport operator with regulated, inflation-linked tariffs and lumpy multi-year capex cycles, so a multi-stage FCF DCF with a capex-cycle-normalized FCF base is more appropriate than a trailing multiple; a below-margin-implied base avoids overstating cash generation during the current heavy investment cycle.