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Grupo Aeroportuario Del Centro
(NASDAQ:OMAB)
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Rating:76Outperform
Price Target:
$120.00
▲(16.02% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by strong financial performance (exceptional margins and solid growth), supported by shareholder-friendly valuation via a high dividend yield and moderate P/E. The main constraints are balance-sheet leverage and recent cash-flow conversion weakening, while technicals appear neutral-to-slightly soft with price below several key moving averages and limited momentum indicator data.
Positive Factors
Exceptional margins and revenue acceleration
OMA's industry-leading margins and a material step-up in TTM revenue growth reflect durable pricing power, operating leverage and strong demand at its airports. High EBITDA and net margins provide persistent cash flow buffer against cyclical shocks and fund reinvestment and dividends over the medium term.
Negative Factors
Rising leverage burden
OMA's materially higher nominal debt and debt-to-equity above 1.0 constrain financial flexibility in a capital-intensive airport business. Elevated leverage increases exposure to interest and refinancing cycles, limits downside buffers in demand downturns and could crowd out optional growth or discretionary returns.
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Positive Factors
Negative Factors
Exceptional margins and revenue acceleration
OMA's industry-leading margins and a material step-up in TTM revenue growth reflect durable pricing power, operating leverage and strong demand at its airports. High EBITDA and net margins provide persistent cash flow buffer against cyclical shocks and fund reinvestment and dividends over the medium term.
Read all positive factors
Grupo Aeroportuario Del Centro (OMAB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.19B
Dividend Yield5.04%
Average Volume (3M)93.58K
Price to Earnings (P/E)16.5
Beta (1Y)0.66
Revenue Growth13.97%
EPS Growth14.66%
CountryUS
Employees1,163
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)111.52
Shares Outstanding42,543,194
10 Day Avg. Volume67,515
30 Day Avg. Volume93,581
Financial Highlights & Ratios
PEG Ratio-3.67
Price to Book (P/B)8.40
Price to Sales (P/S)5.92
P/FCF Ratio12.84
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)7.61
Revenue Forecast (FY)$993.37M
Grupo Aeroportuario Del Centro Business Overview & Revenue Model
Company Description
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How the Company Makes Money
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Grupo Aeroportuario Del Centro Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented a generally positive operational and financial picture: modest passenger growth, solid revenue increases (aeronautical and non‑aeronautical), expanded adjusted EBITDA and a strong margin, notable diversification and cargo strength, a major sustainability achievement, and successful debt refinancing. Headwinds include softer international traffic, inflationary cost pressures (payroll, contracting, materials), higher maintenance provisions, working capital/tax timing reducing near-term cash flow, and jet fuel-driven airline conservativeness that could delay full tariff pass-through. On balance the positives—profitability expansion, strong cargo/diversification growth, sustainability attainment, and proactive balance sheet management—outweigh the negatives.Positive Updates
Passenger Traffic Modest Growth
OMA served 7.2 million passengers in Q2 2026, up 0.4% year-over-year with available seat capacity down 0.3%. Domestic traffic grew 0.6%, driven by San Luis Potosí (routes to AIFA and Cancún added ~23,000 passengers, representing 61% of domestic growth).
Negative Updates
International Traffic Decline
International passenger traffic decreased 1.2% YoY, primarily at Monterrey with lower volumes on Los Angeles, Dallas/Fort Worth and San Antonio routes; international passenger charges also declined due to peso appreciation and lower traffic.
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Q2-2026 Updates
Positive
Negative
Passenger Traffic Modest Growth
OMA served 7.2 million passengers in Q2 2026, up 0.4% year-over-year with available seat capacity down 0.3%. Domestic traffic grew 0.6%, driven by San Luis Potosí (routes to AIFA and Cancún added ~23,000 passengers, representing 61% of domestic growth).
Read all positive updates
Company Guidance
Management's guidance was that 2026 traffic should be flat to low‑single‑digit growth, full‑year compliance with maximum tariffs is expected around 93–95% after the mid‑April adjustment (with a goal of ~99% within ~2–3 years, i.e., by end‑2027 to mid‑2028), and total 2026 investments (MDP plus carryovers) are forecast at about Ps.3.5–4.0 billion (Ps.949 million invested in Q2; ~Ps.1.4 billion YTD noted). They expect commercial revenue per passenger to remain near Ps.66 (Ps.66.4 in Q2) in the near term with a pickup as new Monterrey commercial areas/terminal open toward 2027–2028, signaled working‑capital normalization next year as CapEx execution and provisional tax factors settle, and noted supporting balance‑sheet metrics including Ps.3.0 billion of long‑term notes issued, Ps.2.6 billion cash at quarter‑end and net debt/adjusted‑EBITDA of 1.1x.Grupo Aeroportuario Del Centro Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.33B | 15.96B | 15.07B | 14.46B | 11.93B | 8.72B |
| Gross Profit | 11.30B | 11.19B | 10.08B | 9.51B | 7.34B | 5.15B |
| EBITDA | 10.15B | 9.98B | 9.16B | 8.97B | 6.78B | 4.84B |
| Net Income | 5.42B | 5.34B | 4.93B | 5.01B | 3.90B | 2.86B |
Balance Sheet | ||||||
| Total Assets | 31.95B | 30.94B | 27.23B | 25.24B | 23.07B | 22.89B |
| Cash, Cash Equivalents and Short-Term Investments | 2.58B | 3.10B | 1.66B | 2.58B | 3.34B | 5.99B |
| Total Debt | 14.27B | 13.59B | 11.46B | 10.88B | 10.39B | 7.92B |
| Total Liabilities | 22.66B | 19.51B | 16.69B | 15.40B | 14.52B | 11.65B |
| Stockholders Equity | 9.11B | 11.26B | 10.38B | 9.67B | 8.37B | 11.06B |
Cash Flow | ||||||
| Free Cash Flow | 4.99B | 7.36B | 5.88B | 5.93B | 2.08B | 2.52B |
| Operating Cash Flow | 7.28B | 7.53B | 6.20B | 6.33B | 4.99B | 4.45B |
| Investing Cash Flow | -2.71B | -2.50B | -2.51B | -2.79B | -2.75B | -1.79B |
| Financing Cash Flow | -5.33B | -3.56B | -4.66B | -4.30B | -4.88B | 292.27M |
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 1 New Risks
1.
We could be exposed to risks related to aircraft parts manufacturing. Q4, 2023
Grupo Aeroportuario Del Centro Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $5.19B | 16.48 | 50.53% | 5.21% | 13.97% | 14.66% | |
73 Outperform | $4.26B | 14.56 | 18.34% | ― | 16.95% | 99.42% | |
67 Neutral | $11.09B | 18.74 | 39.76% | 5.63% | 16.80% | 17.58% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $8.27B | 14.48 | 31.71% | 8.24% | 23.46% | -12.16% |
* Industrials Sector Average
OMAB
Grupo Aeroportuario Del Centro
106.90
3.66
3.55%
PAC
Grupo Aeroportuario del Pacifico
217.35
-7.55
-3.35%
ASR
Grupo Aeroportuario del Sureste
275.62
-9.82
-3.44%
CAAP
Corporacion America Airports SA
25.77
6.23
31.88%
Grupo Aeroportuario Del Centro Corporate Events
OMA Delivers Higher Earnings on Resilient Traffic and Commercial Growth in 2Q26
Jul 28, 2026
In its second-quarter 2026 results released on July 27, 2026, OMA reported modest growth in passenger traffic, which rose 0.4% year-on-year to 7.2 million, with domestic traffic up 0.6% and international traffic down 1.2%. Growth was led by airpor...
OMA Completes Ps.3 Billion Long-Term Note Issuance in Mexican Market
Jul 21, 2026
On July 20, 2026, Grupo Aeroportuario del Centro Norte (OMA) reported it had completed the issuance of long-term notes in the Mexican market totaling 3.0 billion pesos. The placement, which follows an earlier announcement made on July 16, 2025, st...
OMA Raises Ps.3 Billion in AAA-Rated Debt to Refinance Obligations and Fund Airport Investments
Jul 17, 2026
Mexican airport operator Grupo Aeroportuario del Centro Norte, known as OMA, has placed Ps.3.0 billion in long-term notes in the Mexican market as of July 16, 2026, in two tranches: a Ps.420 million 3-year variable-rate note and a Ps.2,580 million...
OMA Posts 2.1% Passenger Traffic Growth in June 2026 as New Routes Boost International Travel
Jul 7, 2026
Mexican airport operator OMA reported on July 6, 2026, that terminal passenger traffic across its 13 airports rose 2.1% in June 2026 compared with June 2025. The company saw domestic traffic edge up 0.8% while international traffic jumped 10.2%, w...
Grupo Aeroportuario del Centro Norte Smashes Emissions Target Tied to Sustainability-Linked Bonds
Jun 26, 2026
On June 25, 2026, OMA reported that it has met the sustainability performance target tied to its sustainability-linked bonds by sharply cutting its greenhouse gas emissions per passenger. The company reduced Scope 1 and 2 emissions intensity by 88...
Grupo Aeroportuario del Centro Norte Posts 3.6% Passenger Traffic Growth in May 2026
Jun 5, 2026
On June 4, 2026, Grupo Aeroportuario del Centro Norte (OMA) reported that terminal passenger traffic at its 13 Mexican airports rose 3.6% in May 2026 versus May 2025, driven by a 4.7% increase in domestic passengers while international traffic dec...
Grupo Aeroportuario del Centro Norte Denies Insider Role in Unusual Share Trading Volume
Jun 1, 2026
On May 29, 2026, OMA stated it had no knowledge of any corporate events behind the unusually high trading volume in its shares flagged by Mexico’s stock exchanges. The company said that, based on information available, neither its board memb...
Grupo Aeroportuario del Centro Norte Sets May 27 Date for First 2026 Dividend Installment
May 14, 2026
On May 14, 2026, OMA announced the payment schedule for the first tranche of a Ps.4,900 million cash dividend approved at its Annual General Ordinary Shareholders’ Meeting held on April 24, 2026. The company will distribute the dividend in t...
Grupo Aeroportuario del Centro Norte Reports 4.4% Drop in April 2026 Passenger Traffic
May 6, 2026
Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA) reported that passenger traffic across its 13 airports fell 4.4% in April 2026 versus April 2025, with domestic traffic down 3.4% and international traffic dropping 9.8%. The figu...
Grupo Aeroportuario del Centro Norte Files 2025 Annual Report and Form 20-F
May 4, 2026
On April 30, 2026, OMA reported that it had filed its Annual Report for the year ended December 31, 2025 with Mexico’s National Banking and Securities Commission and the Mexican Stock Exchange. The company also submitted its Form 20-F for th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.