Grupo Aeroportuario Del Centro (OMAB) AI Stock Analysis

• Market Cap: $6.13B
• Dividend Yield: 4.03%
• Average Volume (3M): 78.14K
• Price to Earnings (P/E): 23.3
• Beta (1Y): 0.77
• Revenue Growth: -2.04%
• EPS Growth: -3.82%
• Country: US
• Employees: 1,163
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 1.46
• Shares Outstanding: 42,543,194
• 10 Day Avg. Volume: 55,854
• 30 Day Avg. Volume: 78,144
• PEG Ratio: -8.28
• Price to Book (P/B): 6.66
• Price to Sales (P/S): 4.59
• P/FCF Ratio: 11.77
• Enterprise Value/Market Cap: 18.72
• Enterprise Value/Revenue: 7.19
• Enterprise Value/Gross Profit: 9.52
• Enterprise Value/Ebitda: 11.69
• 1Y Price Target: $120.00
• Price Target Upside: -5.50% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: $145.00 ▲(14.18% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

OMAB scores well primarily on strong profitability and solid free cash flow, reinforced by a constructive outlook from the earnings call (tariff upside and the approved MDP supporting growth/capacity). The score is tempered by rising leverage and slightly softer recent revenue/cash conversion, while technicals are supportive and valuation is reasonable but not cheap given the P/E.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, enhancing long-term financial stability.

Passenger Traffic Increase

Rising passenger traffic reflects robust demand and strengthens OMA's market position, supporting future revenue growth and expansion.

Strong Financial Position

A strong financial position with low leverage enhances financial flexibility, enabling strategic investments and resilience against economic downturns.

Negative Factors

Increased Operating Costs

Rising operating costs can pressure margins, potentially reducing profitability and limiting resources for future growth initiatives.

Commercial Revenue per Passenger Decline

Declining commercial revenue per passenger may indicate challenges in maximizing non-aeronautical revenue streams, impacting overall profitability.

Contracted Services Cost Rise

Increased costs for contracted services can erode profit margins, necessitating efficiency improvements to maintain financial health.

Grupo Aeroportuario Del Centro Business Overview & Revenue Model

Company Description

Grupo 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 Money

OMAB generates revenue primarily through aeronautical and non-aeronautical sources. Aeronautical revenue includes charges for landing rights, passenger boarding fees, and other fees paid by airlines for airport services. Non-aeronautical revenue comes from retail concessions, parking fees, advertising, and real estate leasing within the airport premises. The company has established strategic partnerships with various airlines and service providers, which contribute to its earnings through increased passenger traffic and enhanced service offerings. Additionally, government regulations and airport development projects can impact revenue streams positively by facilitating growth and improving infrastructure.

Grupo Aeroportuario Del Centro Financial Statement Overview

Summary

Strong profitability and cash generation support a high score (TTM gross margin ~70%, net margin ~33%, and free cash flow ~94% of net income). Offsetting factors are a slight TTM revenue decline (~-1.1%), rising leverage (debt-to-equity ~1.35), and softer cash conversion versus prior periods (operating cash flow coverage down to ~1.13).

Income Statement

Profitability is a clear strength, with TTM (Trailing-Twelve-Months) showing very high gross margin (~70%) and strong net margin (~33%), reflecting solid pricing power and operating efficiency. Revenues expanded sharply from 2021–2024, but TTM revenue is slightly down (~-1.1%), suggesting growth has cooled. Overall earnings remain strong versus prior years, but the recent revenue dip is the key near-term watch item.

Balance Sheet

The company generates strong returns for shareholders (TTM return on equity ~52%), indicating high profitability on the equity base. However, leverage has increased, with debt-to-equity rising to ~1.35 in TTM (Trailing-Twelve-Months) from ~1.10 in 2024, reducing balance-sheet flexibility. Assets and equity have grown over time, but the upward drift in leverage is the main risk factor.

Cash Flow

Cash generation is solid: TTM (Trailing-Twelve-Months) operating cash flow is strong and free cash flow remains meaningfully positive, with modest free cash flow growth (~2.8%). Free cash flow is close to reported earnings (~94% of net income), supporting earnings quality. The main weakness is reduced cash coverage versus 2023–2024 (operating cash flow coverage down to ~1.13 in TTM from ~1.90 in 2024), indicating somewhat tighter cash conversion recently.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.96B	15.07B	14.46B	11.93B	8.72B	5.37B
Gross Profit	12.07B	9.84B	9.51B	7.34B	5.15B	2.52B
EBITDA	9.82B	9.16B	8.97B	6.78B	4.84B	2.35B
Net Income	5.34B	4.93B	5.01B	3.90B	2.86B	1.09B
Balance Sheet
Total Assets	30.94B	27.23B	25.24B	23.07B	22.89B	18.14B
Cash, Cash Equivalents and Short-Term Investments	3.10B	1.66B	2.58B	3.34B	5.99B	2.96B
Total Debt	13.59B	11.46B	10.88B	10.39B	7.92B	4.71B
Total Liabilities	19.51B	16.69B	15.40B	14.52B	11.65B	7.31B
Stockholders Equity	11.26B	10.38B	9.67B	8.37B	11.06B	10.65B
Cash Flow
Free Cash Flow	5.48B	5.88B	5.93B	2.08B	2.52B	-138.16M
Operating Cash Flow	7.53B	6.20B	6.33B	4.99B	4.45B	1.30B
Investing Cash Flow	-2.50B	-2.51B	-2.79B	-2.75B	-1.79B	-1.32B
Financing Cash Flow	-3.56B	-4.66B	-4.30B	-4.88B	292.27M	-528.89M

Grupo Aeroportuario Del Centro Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 126.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMAB, the sentiment is Positive. The current price of 126.99 is above the 20-day moving average (MA) of 124.99, above the 50-day MA of 116.14, and above the 200-day MA of 105.73, indicating a bullish trend. The MACD of 4.63 indicates Positive momentum. The RSI at 56.56 is Neutral, neither overbought nor oversold. The STOCH value of 70.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OMAB.

Grupo Aeroportuario Del Centro Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OMAB	79 Outperform	$6.13B	23.28	53.27%	4.03%	-2.04%	-3.82%
ASR	72 Outperform	$10.77B	19.29	24.69%	11.85%	8.70%	-21.15%
CAAP	71 Outperform	$4.69B	25.44	13.25%	―	14.87%	-47.71%
PAC	65 Neutral	$13.50B	27.90	46.44%	4.46%	11.58%	1.15%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Grupo Aeroportuario Del Centro Corporate Events

Grupo Aeroportuario del Centro Norte Posts Higher 4Q25 Traffic, EBITDA and 2025 Growth

OMA reported strong operating and financial performance for full-year 2025 and the fourth quarter, underscoring continued growth in Mexico’s airport sector. For 2025, passenger traffic rose 8.5% to 28.8 million travelers, adjusted EBITDA increased 12.1% to Ps.10,167 million, and the company invested Ps.2,709 million in capital projects and major maintenance under its Master Development Plans, while keeping leverage low at 1.03x net debt to adjusted EBITDA as of December 31, 2025.

In 4Q25, reported on February 23, 2026, passenger traffic climbed 6.0% year on year to 7.5 million, led by gains in Monterrey, Chihuahua and San Luis Potosí, and the combined aeronautical and non-aeronautical revenues grew 6.1%, supporting a 5.9% rise in adjusted EBITDA to Ps.2,577 million. The quarter also saw Ps.755 million of capital and maintenance investments, higher commercial and cargo revenues, and a significant increase in maintenance provisions linked to the newly approved 2026–2030 development programs and the higher concession tax burden, factors that will influence OMA’s cost base and regulatory-driven capex in coming years.

The most recent analyst rating on (OMAB) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario Del Centro stock, see the OMAB Stock Forecast page.

Grupo Aeroportuario del Centro Norte Reports 6% Passenger Traffic Growth in January 2026

On February 5, 2026, Grupo Aeroportuario del Centro Norte (OMA) reported that passenger traffic across its 13 airports rose 6.0% in January 2026 compared with January 2025, driven by a 7.0% increase in domestic traffic and a more modest 1.4% gain in international traffic, with 99.4% of total passengers classified as commercial and just 0.6% as general aviation. The year-on-year growth in volumes underscores resilient demand in OMA’s domestic markets at the start of 2026 and suggests a steady, if slower, recovery trend in international travel, developments that are likely to be closely watched by investors and other stakeholders given OMA’s role as a key regional infrastructure operator within the VINCI Airports portfolio.

The most recent analyst rating on (OMAB) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario Del Centro stock, see the OMAB Stock Forecast page.

Grupo Aeroportuario del Centro Norte Posts 6.9% Passenger Traffic Growth in December 2025

On January 7, 2026, OMA reported that terminal passenger traffic across its 13 airports rose 6.9% in December 2025 compared with December 2024, with domestic traffic increasing 6.9% and international traffic up 6.5%, and 99.4% of total traffic coming from commercial passengers versus 0.6% from general aviation. The company also launched ten new routes during the month, underscoring continued demand recovery and network expansion within its portfolio, developments that reinforce OMA’s role in Mexico’s aviation infrastructure and signal ongoing momentum for airlines, tourism-related businesses and other stakeholders served by its airports.

The most recent analyst rating on (OMAB) stock is a Buy with a $120.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario Del Centro stock, see the OMAB Stock Forecast page.