Overall Score

Revenue Market Opportunity

ASUR still has a workable growth runway, but the latest valuation and operating data do not show a clear acceleration in demand.

Revenue per share remains $5.41 with EV/Sales at 1.92x, suggesting a modestly priced business rather than a high-growth compounder.

Profitability Margins

Gross margin remains strong at 68.1%, but operating margin is slightly negative at -1.2% and net margin is -5.4%.

ROE (-4.3%), ROIC (-0.7%), and ROA (-1.8%) remain negative, indicating the business is still not converting revenue into durable economic profit.

Cash Flow Capital Efficiency

Free cash flow is positive, with FCF yield at 4.5% and FCF per share of $0.38, but conversion is not especially strong relative to revenue.

Operating cash flow margin is 15.6% and capex/revenue is 8.5%, showing the company can fund maintenance and still generate some residual cash.

Balance Sheet Financial Flexibility

Leverage is manageable with net debt/EBITDA at 1.9x and debt/equity at 0.38x.

Liquidity is only adequate, with current ratio at 1.06 and cash ratio at 0.09, so the balance sheet is not a major strength.

Durability Competitive Position

High gross margins and stable working-capital metrics suggest the business has some structural resilience.

However, weak interest coverage (-0.25x) and negative returns on capital indicate the moat is not translating into strong shareholder economics yet.