Is Corporacion America Airports SA overvalued or undervalued?

As of 7 July 2025, the valuation grade for Corporacion America Airports SA has moved from expensive to very expensive. The company appears to be overvalued given its current P/E ratio of 22, which is significantly higher than peers like Vontier Corp. at 15.89 and Bristow Group, Inc. at 9.82. Additionally, the EV to EBITDA ratio stands at 6.77, while its peer Verra Mobility Corp. has a much higher ratio of 13.53, further indicating a premium valuation.
The company's ROCE of 18.08% and ROE of 10.64% suggest decent profitability, but these metrics do not justify the high valuation multiples. Furthermore, while Corporacion America Airports SA has shown impressive long-term returns, such as 746.76% over the past five years, it has underperformed relative to the S&P 500 in the short term, with a year-to-date return of -1.98% compared to the S&P 500's 12.22%. This combination of high valuation ratios and recent stock performance reinforces the conclusion that the company is overvalued.