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Grupo Aeroportuario Del Centro (OMAB)
NASDAQ:OMAB
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Grupo Aeroportuario Del Centro
(NASDAQ:OMAB)
82Outperform
Grupo Aeroportuario Del Centro (OMAB) vs. S&P 500 (SPY)
Market Cap
$3.92B
Dividend Yield5.12%
Average Volume (3M)62.51K
Price to Earnings (P/E)14.6
Beta (1Y)1.52
Revenue Growth0.83%
EPS Growth-4.88%
CountryUS
Employees1,200
SectorIndustrials
Sector Strength68
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)5.59
Shares Outstanding42,543,194
10 Day Avg. Volume65,419
30 Day Avg. Volume62,511
Financial Highlights & Ratios
PEG Ratio3.01
Price to Book (P/B)N/A
Price to Sales (P/S)20.97
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$86.00Price Target Upside11.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Grupo Aeroportuario Del Centro Business Overview & Revenue Model
Company DescriptionGrupo Aeroportuario del Centro Norte, S.A.B. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities. It also operates the NH Collection Hotel in Terminal 2 of the Mexico City International Airport; and a hotel under the Hilton Garden Inn name at the Monterrey International Airport. In addition, the company provides aeronautical services, which include passenger, aircraft landing and parking, boarding and unloading, passenger walkway, and airport security services. Further, it offers complementary services that comprise leasing of space to airlines, cargo handling, baggage-screening, permanent and non-permanent ground transportation, and access rights services; non-aeronautical services, such as leasing of space at its airports to retailers, restaurants, and other commercial tenants, as well as maintaining of parking facilities and advertising; and diversification services, which consists of operation and lease of the industrial park and real estate services, as well as hotel and air cargo logistics services. Additionally, the company provides construction services. It has a strategic alliance with VYNMSA Desarrollo Inmobiliario, S.A. de C.V. to build and operate an industrial park at the Monterrey airport. The company was founded in 1998 and is headquartered in Mexico City, Mexico.
How the Company Makes MoneyOMAB generates revenue primarily through two main streams: aeronautical and non-aeronautical services. Aeronautical services include fees charged for passenger traffic, aircraft landing, parking, and cargo services, which are directly tied to the volume of air traffic. Non-aeronautical revenue is derived from commercial activities within the airports, such as leasing retail space, parking fees, advertising, and other passenger services. OMAB also benefits from strategic partnerships with airlines and commercial tenants, which help to enhance service offerings and increase revenue potential.
Grupo Aeroportuario Del Centro Financial Statement Overview
Summary
Grupo Aeroportuario Del Centro demonstrates strong financial health with robust revenue growth and profitability. The income statement shows increasing margins, the balance sheet reflects a stable financial position, and cash flow generation is robust.Income Statement
Grupo Aeroportuario Del Centro has demonstrated robust growth with a steady increase in revenue from 2020 to 2024. The company has maintained a strong Gross Profit Margin, increasing from approximately 46.9% in 2020 to 65.3% in 2024. The Net Profit Margin has also been healthy, with TTM figures showing significant profitability. EBIT and EBITDA margins are strong, reflecting efficient operational management. The Revenue Growth Rate has been impressive, particularly between 2021 and 2022, showcasing the company's ability to expand effectively.88
Very Positive
Balance Sheet
The company's Balance Sheet reflects a solid financial position with a stable Debt-to-Equity ratio. While Total Debt has increased over the years, equity has also strengthened, resulting in a stable leverage position. The Return on Equity (ROE) is quite strong, indicating effective use of equity to generate profits. The Equity Ratio has remained relatively stable, suggesting a balanced approach to financing with equity and debt.82
Very Positive
Cash Flow
Cash flow analysis reveals a strong ability to generate cash from operations, with Operating Cash Flow consistently growing. The Free Cash Flow has shown significant improvement since 2020, indicating effective capital management and investment strategies. The Operating Cash Flow to Net Income ratio is favorable, demonstrating efficient cash conversion. Free Cash Flow growth has been supported by disciplined capital expenditure management.85
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 15.07B | 14.46B | 11.93B | 8.72B | 5.37B | Gross Profit |
| 9.84B | 9.51B | 7.34B | 5.15B | 2.52B | EBIT |
| 8.08B | 8.07B | 6.06B | 4.11B | 1.72B | EBITDA |
| 8.84B | 8.97B | 6.78B | 4.84B | 2.35B | Net Income Common Stockholders |
| 4.93B | 5.01B | 3.90B | 2.86B | 1.09B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.66B | 2.58B | 3.34B | 5.99B | 2.96B | Total Assets |
| 27.23B | 25.24B | 23.07B | 22.89B | 18.14B | Total Debt |
| 11.46B | 10.88B | 10.39B | 7.92B | 4.71B | Net Debt |
| 9.80B | 8.30B | 7.06B | 1.93B | 1.75B | Total Liabilities |
| 16.69B | 15.40B | 14.52B | 11.65B | 7.31B | Stockholders Equity |
| 10.38B | 9.67B | 8.37B | 11.06B | 10.65B |
| Cash Flow | Free Cash Flow | |||
| 5.88B | 5.93B | 2.08B | 2.52B | -138.16M | Operating Cash Flow |
| 6.20B | 6.33B | 4.99B | 4.45B | 1.30B | Investing Cash Flow |
| -2.51B | -2.79B | -2.75B | -1.79B | -1.32B | Financing Cash Flow |
| -4.66B | -4.30B | -4.88B | 292.27M | -528.89M |
Grupo Aeroportuario Del Centro Technical Analysis
Negative
76.79
Price Trends
78.46
Negative
74.14
Positive
69.86
Positive
Market Momentum
0.72
Positive
54.74
Neutral
30.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMAB, the sentiment is Negative. The current price of 76.79 is below the 20-day moving average (MA) of 78.93, below the 50-day MA of 78.46, and above the 200-day MA of 69.86, indicating a neutral trend. The MACD of 0.72 indicates Positive momentum. The RSI at 54.74 is Neutral, neither overbought nor oversold. The STOCH value of 30.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OMAB.
Grupo Aeroportuario Del Centro Risk Analysis
Grupo Aeroportuario Del Centro disclosed 61 risk factors in its most recent earnings report. Grupo Aeroportuario Del Centro reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grupo Aeroportuario Del Centro Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.92B | 14.58 | 50.41% | 5.12% | 0.83% | -4.88% | |
76 Outperform | $8.61B | 11.59 | 28.24% | 2.02% | 17.41% | 28.94% | |
76 Outperform | $483.71B | 38.20 | 191.95% | 0.52% | 12.07% | 17.27% | |
70 Outperform | $9.64B | 20.65 | 42.32% | 3.70% | -2.03% | -11.39% | |
68 Neutral | $41.36B | 25.64 | -33.93% | 1.50% | 0.37% | 19.87% | |
62 Neutral | $8.08B | 13.63 | 3.82% | 3.13% | 3.58% | -14.35% |
* Industrials Sector Average
Performance Comparison
OMAB
Grupo Aeroportuario Del Centro
76.79
-2.70
-3.40%
PAC
Grupo Aeroportuario del Pacifico
180.13
13.82
8.31%
ASR
Grupo Aeroportuario del Sureste
271.78
-47.99
-15.01%
MA
Mastercard
489.77
12.97
2.72%
OTIS
Otis Worldwide
94.97
-1.49
-1.54%
ACON
Aclarion, Inc.
10.82
-2,817.55
-99.62%
Grupo Aeroportuario Del Centro Earnings Call Summary
Earnings Call Date: Feb 24, 2025 | % Change Since: -3.04% | Next Earnings Date: Apr 23, 2025
Earnings Call Sentiment Positive
OMA showed strong growth in international traffic and commercial revenue, supported by infrastructure expansion and sustainability achievements. However, challenges include a decline in domestic traffic and increased concession tax expenses, with a cautious outlook due to macroeconomic volatility.Highlights
Record International Passenger Traffic Growth
International passenger traffic grew significantly by 26.4% in the fourth quarter and 15% for the full year 2024 compared to 2023. This was a result of new routes and increased capacity to the U.S.
Strong Commercial Revenue Performance
Commercial revenues per passenger reached a record high of 60 pesos, a 17% increase compared to 2023. Restaurant revenues grew by 22%, VIP lounge revenues increased by 51%, and parking revenues rose by 33 million pesos.
Expansion and Development at Monterrey Airport
Significant infrastructure expansions at Monterrey Airport have increased passenger capacity to nearly 14 million annually, with plans to further expand to 16 million by early 2026.
Diversification Success
OMA Cargo grew by 22% and the industrial service revenue increased by 61% for the full year. Hotel services also saw a 20% revenue growth.
Level 3 Optimization Certification for Sustainability
All 13 OMA airports obtained Level 3 Optimization Certification on the Airport Carbon Accreditation Program, reflecting commitment to reducing carbon emissions.
Lowlights
Domestic Passenger Traffic Decline
Domestic passenger traffic declined by 3.5% for the full year 2024, highlighting challenges in the domestic market.
Concession Tax Increase Impact
Concession tax increased by 97% due to a rate increase from 5% to 9%, resulting in higher expenses.
Net Income Decrease
Consolidated net income decreased by 5.9% in the fourth quarter relative to the fourth quarter of 2023.
Challenging Macro Environment
The company acknowledges volatility in the macro environment which may impact future projections and operations.
Company Guidance
During the Grupo Aeroportuario del Centro Norte (OMA) fourth-quarter 2024 earnings call, guidance was provided with multiple metrics highlighted. Total passenger traffic across OMA's 13 airports increased by 4.6% year-over-year, fueled by a 1.5% rise in domestic traffic and a substantial 26.4% growth in international traffic. Financially, total aeronautical and non-aeronautical revenues grew by 13.6%, reaching Ps.3.3 billion for the quarter, with aeronautical revenue up by 11% and non-aeronautical revenue by 22%. The adjusted EBITDA for the year stood at Ps.9.1 billion, with a margin of 74.3%. The company invested Ps.951 million in capital expenditures during the quarter, primarily at Monterrey Airport, enhancing its capacity to nearly 14 million passengers annually. OMA also expects sustained growth in Monterrey's route network and is planning further investments to expand the airport's capacity to 16 million passengers by 2026.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.