Aerodrom Nikola Tesla a.d. (BELEX:AERO)

Serbia · Delayed Price · Currency is EUR · Price in RSD

2,084.00

+3.00 (0.14%)

At close: Jul 24, 2026

BELEX:AERO Financials Overview

Financials in millions RSD. Fiscal year is January - December.

Millions RSD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	955.36	926.44	820.23	723.68	595.32	562.95
Revenue Growth	14.16%	12.95%	13.34%	21.56%	5.75%	107.78%
Gross Profit	717.07	718.3	630.96	553.79	439.57	416.94
Operating Income	-537.3	-540.48	-433.06	-357.65	-359.7	-452.67
Net Income	361.48	340.14	287.44	237.11	20.23	-290.01
Earnings Per Share	10.12	9.73	8.22	6.77	0.58	-8.28
EPS Growth	-0.96%	18.33%	21.42%	1072.19%	-	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	7,995	4,155	3,165	1,005	816.51	658.51
Total Debt	60.91	63	66.69	13.22	36.16	55.43
Net Cash (Debt)	7,934	4,092	3,099	991.56	780.35	603.09
Net Cash Growth	116.82%	32.06%	212.51%	27.07%	29.39%	-21.85%
Net Cash Per Share	222.23	117.02	88.61	28.31	22.28	17.22

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	443.48	917.1	2,209	301.61	264.95	-42.86
Capital Expenditures	-42.36	-31.18	-110.26	-116.16	-127.43	-96.19
Free Cash Flow	401.12	885.92	2,099	185.45	137.52	-139.05
Free Cash Flow Growth	-84.26%	-57.78%	1031.60%	34.86%	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	75.06%	77.53%	76.92%	76.52%	73.84%	74.06%
Operating Margin	-56.24%	-58.34%	-52.80%	-49.42%	-60.42%	-80.41%
Pretax Margin	38.74%	38.34%	41.09%	37.54%	8.92%	-45.20%
Profit Margin	37.84%	36.71%	35.04%	32.77%	3.40%	-51.52%
FCF Margin	41.99%	95.63%	255.85%	25.63%	23.10%	-24.70%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 25, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	205.84	242.13	242.72	255.15	2761.49	-
Forward PE	-	16.56	16.56	16.56	16.56	16.56
P/FCF Ratio	181.73	92.96	33.24	326.22	406.19	-
PS Ratio	76.30	88.90	85.06	83.60	93.83	71.30