Aeroports de Paris SA

ADP: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lower ADP's Fair Value Estimate by 10% to Reflect Short-Term Margin Pressure and Higher Cost of Debt

Jack Fletcher-Price

Oct 23, 2026

Business Strategy and Outlook

Aéroports de Paris owns and operates Paris’ three commercial airports (Charles de Gaulle, Orly, and Paris-Le Bourget). It was privatized in 2005 and listed in 2006, with the French state retaining a 50.6% stake and 58.6% of voting rights.

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Aeroports de Paris SA

Lower ADP's Fair Value Estimate by 10% to Reflect Short-Term Margin Pressure and Higher Cost of Debt

Business Strategy and Outlook

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