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Grupo Aeroportuario Del Centro (OMAB)
:OMAB
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Grupo Aeroportuario Del Centro
(NASDAQ:OMAB)
Rating:77Outperform
Price Target:
$115.00
▲(10.06%Upside)
Grupo Aeroportuario Del Centro (OMAB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.03B
Dividend Yield4.5%
Average Volume (3M)65.49K
Price to Earnings (P/E)18.7
Beta (1Y)1.12
Revenue Growth-10.13%
EPS Growth-6.82%
CountryUS
Employees1,163
SectorIndustrials
Sector Strength87
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)1.40
Shares Outstanding42,543,194
10 Day Avg. Volume70,627
30 Day Avg. Volume65,490
Financial Highlights & Ratios
PEG Ratio3.18
Price to Book (P/B)55.54
Price to Sales (P/S)0.00
P/FCF Ratio223.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$106.00Price Target Upside1.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
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 aeronautical services, which include passenger charges, landing and parking fees for airlines, and other airport-related services. Additionally, the company earns income from non-aeronautical services, such as leasing space for retail shops, restaurants, and car rental services within airport terminals. OMAB also benefits from advertising revenues and parking fees. Strategic partnerships with airlines and commercial tenants help enhance the company's service offerings and revenue potential. Furthermore, OMAB may receive income from cargo handling and other auxiliary services, contributing to its diversified revenue streams.
Grupo Aeroportuario Del Centro Earnings Call Summary
Earnings Call Date:Apr 28, 2025
(Q1-2025)
| % Change Since: 20.27%|
Next Earnings Date:Jul 29, 2025
Earnings Call Sentiment Positive
OMA reported strong growth in passenger traffic, revenue, and profitability metrics. However, challenges such as a significant decrease in construction revenues and increased operational costs were noted. While the growth in core operations is promising, external uncertainties in capacity growth and macroeconomic factors pose potential risks.Q1-2025 Updates
Positive Updates
Significant Passenger Traffic Increase
OMA's passenger traffic totaled 6.4 million in Q1 2025, marking a 9.1% increase year-over-year. Domestic traffic grew by 8%, and international traffic rose by 15.1%.
Aeronautical Revenue Growth
Aeronautical revenues increased by 13.8% year-over-year, with aeronautical revenue per passenger rising by 4.3%.
Commercial and Diversification Revenue Surge
Commercial revenues grew by 22.8%, driven by VIP lounges, restaurants, and retail, with a notable 80% increase in VIP lounge revenues. Diversification revenues increased by 22%.
Strong Adjusted EBITDA Growth
Adjusted EBITDA increased by 16% to Ps.2.4 billion, with an adjusted EBITDA margin of 74.9%.
Dividend Declaration
OMA declared and paid a Ps.4.5 billion cash dividend at the 2025 Annual Shareholders Meeting.
Positive Financial Results
Consolidated net income reached Ps.1.3 billion, an increase of 19.7% compared to Q1 2024.
Negative Updates
Decrease in Construction Revenues
Construction revenues decreased by 60% due to lower MDP investment execution.
Increased Costs Impact
Cost of services and G&A expenses increased by 10.2% year-over-year, with a notable 42% rise in other costs and expenses.
Capacity Uncertainty
There are uncertainties in capacity growth due to macroeconomic factors and potential retrenchment by low-cost carriers.
Company Guidance
In the first quarter of 2025, Grupo Aeroportuario del Centro Norte (OMA) reported significant growth across several metrics, with passenger traffic reaching 6.4 million, marking a 9.1% year-over-year increase. This uptick was supported by a 13.4% rise in seat capacity. Domestic passenger growth was robust at 8%, spurred by increased traffic on routes from Monterrey Airport, while international traffic surged by 15.1%. OMA launched 16 new routes, including five international ones. VivaAerobus and Volaris were key contributors, accounting for 49% and 22% of total traffic, respectively. Financially, aeronautical revenues rose by 13.8%, with commercial revenues witnessing a 22.8% increase, driven by enhancements in VIP lounges, restaurants, and retail. Non-aeronautical revenues climbed by 20.9%, propelled by OMA Carga and industrial services, which saw a 56.4% year-over-year revenue jump. The company achieved an adjusted EBITDA of Ps.2.4 billion, reflecting a 16% increase, and an adjusted EBITDA margin of 74.9%. OMA's capital expenditures totaled Ps.502 million, while a Ps.4.5 billion cash dividend was approved in their 2025 Annual Shareholders Meeting.Grupo Aeroportuario Del Centro Financial Statement Overview
Summary
Grupo Aeroportuario Del Centro exhibits strong financial health across all verticals, with consistent revenue growth and profitability. The balance sheet reflects a stable financial structure with controlled leverage and strong equity utilization. Cash flow generation is robust, supporting operational and strategic initiatives.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.89B | 15.07B | 14.46B | 11.93B | 8.72B | 5.37B |
| Gross Profit | 11.14B | 9.84B | 9.51B | 7.34B | 5.15B | 2.52B |
| EBITDA | 9.38B | 9.16B | 8.97B | 6.78B | 4.84B | 2.35B |
| Net Income | 5.14B | 4.93B | 5.01B | 3.90B | 2.86B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 28.41B | 27.23B | 25.24B | 23.07B | 22.89B | 18.14B |
| Cash, Cash Equivalents and Short-Term Investments | 2.27B | 1.66B | 2.58B | 3.34B | 5.99B | 2.96B |
| Total Debt | 11.30B | 11.46B | 10.88B | 10.39B | 7.92B | 4.71B |
| Total Liabilities | 16.57B | 16.69B | 15.40B | 14.52B | 11.65B | 7.31B |
| Stockholders Equity | 11.67B | 10.38B | 9.67B | 8.37B | 11.06B | 10.65B |
Cash Flow | ||||||
| Free Cash Flow | 4.80B | 5.88B | 5.93B | 2.08B | 2.52B | -138.16M |
| Operating Cash Flow | 6.58B | 6.20B | 6.33B | 4.99B | 4.45B | 1.30B |
| Investing Cash Flow | -2.87B | -2.51B | -2.79B | -2.75B | -1.79B | -1.32B |
| Financing Cash Flow | -4.95B | -4.66B | -4.30B | -4.88B | 292.27M | -528.89M |
Grupo Aeroportuario Del Centro Technical Analysis
Positive
104.49
Price Trends
95.89
Positive
86.21
Positive
76.82
Positive
Market Momentum
1.93
Positive
63.44
Neutral
60.81
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 104.49 is above the 20-day moving average (MA) of 102.67, above the 50-day MA of 95.89, and above the 200-day MA of 76.82, indicating a bullish trend. The MACD of 1.93 indicates Positive momentum. The RSI at 63.44 is Neutral, neither overbought nor oversold. The STOCH value of 60.81 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 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
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $9.40B | 12.78 | 25.76% | 7.87% | 9.99% | 17.81% | |
77 Outperform | $5.03B | 18.72 | 44.27% | 4.50% | -10.13% | -6.82% | |
73 Outperform | $11.47B | 24.63 | 36.66% | 3.80% | -2.56% | -14.94% | |
71 Outperform | $12.22B | 11.26 | 138.69% | 1.59% | 6.41% | 49.58% | |
69 Neutral | $3.31B | 22.79 | 11.32% | ― | 6.45% | -64.13% | |
68 Neutral | $18.33B | 38.19 | 5.63% | 2.24% | 3.26% | 27.77% | |
65 Neutral | $10.56B | 15.49 | 5.57% | 1.96% | 2.71% | -26.28% |
* Industrials Sector Average
Performance Comparison
OMAB
Grupo Aeroportuario Del Centro
104.49
40.26
62.68%
PAC
Grupo Aeroportuario del Pacifico
227.20
80.32
54.68%
ASR
Grupo Aeroportuario del Sureste
312.50
30.54
10.83%
LUV
Southwest Airlines
32.16
4.69
17.07%
CAAP
Corporacion America Airports SA
20.30
3.73
22.51%
LTM
LATAM Airlines Group SA Sponsored ADR
40.09
15.37
62.18%
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.