Grupo Aeroportuario Del Centro (OMAB)
NASDAQ:OMAB
Top Page
Grupo Aeroportuario Del Centro
(NASDAQ:OMAB)
Select Model
Select Model
Rating:79Outperform
Price Target:
$125.00
▲(7.08% Upside)
Action:ReiteratedDate: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
High profitability and margins
Sustained very high gross and net margins reflect structural pricing power and operating efficiency across OMA’s airport portfolio. Durable margins help absorb cyclical dips in traffic, underpin strong return on equity, and support reinvestment and shareholder distributions over a multi-year horizon.
Negative Factors
Rising leverage and balance-sheet drift
An upward trend in leverage reduces financial flexibility and increases refinancing and interest-rate exposure over the medium term. Higher debt relative to equity constrains the company’s capacity to absorb shocks or accelerate opportunistic investments without adding cost or altering capital return plans.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained very high gross and net margins reflect structural pricing power and operating efficiency across OMA’s airport portfolio. Durable margins help absorb cyclical dips in traffic, underpin strong return on equity, and support reinvestment and shareholder distributions over a multi-year horizon.
Read all positive factors
Grupo Aeroportuario Del Centro (OMAB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.64B
Dividend Yield4.03%
Average Volume (3M)98.45K
Price to Earnings (P/E)19.4
Beta (1Y)0.81
Revenue Growth-2.04%
EPS Growth-3.82%
CountryUS
Employees1,163
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)1.45
Shares Outstanding42,543,194
10 Day Avg. Volume108,744
30 Day Avg. Volume98,446
Financial Highlights & Ratios
PEG Ratio2.11
Price to Book (P/B)8.40
Price to Sales (P/S)5.92
P/FCF Ratio12.84
Enterprise Value/Market Cap18.93
Enterprise Value/Revenue6.69
Enterprise Value/Gross Profit8.85
Enterprise Value/Ebitda10.88
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7.78
Revenue Forecast (FY)$976.26M
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, Zihuatan...
How the Company Makes Money
null...
Grupo Aeroportuario Del Centro Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 27, 2026
Earnings Call Sentiment Positive
Overall the call was constructive: the company demonstrated strong traffic recovery, notable commercial and diversification revenue growth, high EBITDA margins and conservative leverage, supported by the approval of a disciplined MXN 16 billion MDP that should improve capital efficiency. Headwinds include a sizable noncash increase in major maintenance provisions tied to the MDP, cost pressures (contracted services, maintenance and utilities), and FX-related revenue impacts from peso appreciation, plus lingering airline fleet constraints. On balance the operational and financial positives and clear investment plan outweigh the challenges, with management providing visibility on tariff pass-through and expectations for continued growth.Positive Updates
Approval of 2026-2030 Master Development Program (MDP)
Federal Civil Aviation Agency approved an MDP with an investment commitment of approximately MXN 16 billion (December 2024 pesos) focused on capacity expansion, terminal and airside works, equipment upgrades, pavement rehabilitation, and sustainability; approval provides long-term regulatory visibility and is comparable in real terms to the 2021-2025 cycle, implying improved capital efficiency per passenger.
Negative Updates
Major Maintenance Provision Increase
Major maintenance provision increased to MXN 216 million in 4Q25 (from MXN 39 million in 4Q24) due to reassessment tied to the MDP; approximately 17% of the MDP is major maintenance and the company expects full-year 2026 provisioning of about MXN 400 million (noncash P&L impact).
Read all updates
Q4-2025 Updates
Positive
Negative
Approval of 2026-2030 Master Development Program (MDP)
Federal Civil Aviation Agency approved an MDP with an investment commitment of approximately MXN 16 billion (December 2024 pesos) focused on capacity expansion, terminal and airside works, equipment upgrades, pavement rehabilitation, and sustainability; approval provides long-term regulatory visibility and is comparable in real terms to the 2021-2025 cycle, implying improved capital efficiency per passenger.
Read all positive updates
Company Guidance
OMA guided that its 2026–2030 Master Development Program commits approximately MXN 16 billion (Dec‑2024 pesos), with roughly 17% of that amount earmarked for major maintenance (implying provisioning of the present value of those spends) and management forecasting a full‑year major‑maintenance provision of ~MXN 400 million in 2026 (non‑cash); the regulator approved a 6.9% real increase in maximum tariffs (effective April 10 — company referenced a ~6.1% nominal increase) that management expects to reach 100% of the maximum tariff in 2–3 years (about 93% by year‑end); traffic is guided to low‑ to mid‑single‑digit growth in 2026; about 20 new routes are already confirmed (17 domestic, 3 international, mostly starting in June), Monterrey’s new commercial area should open mid‑next year and Culiacán’s by year‑end, driving an expected 10–15% real increase in spend per passenger in Monterrey once fully ramped (full effect reflected in 2028), while near‑term commercial revenue per passenger is expected to remain around MXN 62; Q4 capex was MXN 755 million, construction revenues MXN 613 million, year‑end cash was MXN 3.1 billion, total debt MXN 13.6 billion and net debt/adjusted‑EBITDA stood at ~1.0x, with refinancings likely via the CEBURES market.Grupo Aeroportuario Del Centro Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
73
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.96B | 15.07B | 14.46B | 11.93B | 8.72B |
| Gross Profit | 12.07B | 9.84B | 9.51B | 7.34B | 5.15B |
| EBITDA | 9.82B | 9.16B | 8.97B | 6.78B | 4.84B |
| Net Income | 5.34B | 4.93B | 5.01B | 3.90B | 2.86B |
Balance Sheet | |||||
| Total Assets | 30.94B | 27.23B | 25.24B | 23.07B | 22.89B |
| Cash, Cash Equivalents and Short-Term Investments | 3.10B | 1.66B | 2.58B | 3.34B | 5.99B |
| Total Debt | 13.59B | 11.46B | 10.88B | 10.39B | 7.92B |
| Total Liabilities | 19.51B | 16.69B | 15.40B | 14.52B | 11.65B |
| Stockholders Equity | 11.26B | 10.38B | 9.67B | 8.37B | 11.06B |
Cash Flow | |||||
| Free Cash Flow | 7.36B | 5.88B | 5.93B | 2.08B | 2.52B |
| Operating Cash Flow | 7.53B | 6.20B | 6.33B | 4.99B | 4.45B |
| Investing Cash Flow | -2.50B | -2.51B | -2.79B | -2.75B | -1.79B |
| Financing Cash Flow | -3.56B | -4.66B | -4.30B | -4.88B | 292.27M |
Grupo Aeroportuario Del Centro Technical Analysis
Positive
116.73
Price Trends
118.11
Negative
112.75
Positive
108.09
Positive
Market Momentum
-0.34
Negative
54.05
Neutral
38.70
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 116.73 is above the 20-day moving average (MA) of 111.76, below the 50-day MA of 118.11, and above the 200-day MA of 108.09, indicating a neutral trend. The MACD of -0.34 indicates Negative momentum. The RSI at 54.05 is Neutral, neither overbought nor oversold. The STOCH value of 38.70 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.64B | 19.42 | 52.26% | 4.03% | -2.04% | -3.82% | |
69 Neutral | $10.69B | 16.66 | 30.03% | 11.85% | 8.70% | -21.15% | |
69 Neutral | $4.42B | 17.03 | 17.03% | ― | 14.87% | -47.71% | |
65 Neutral | $12.73B | 23.99 | 44.97% | 4.46% | 11.58% | 1.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
OMAB
Grupo Aeroportuario Del Centro
117.05
41.94
55.84%
PAC
Grupo Aeroportuario del Pacifico
251.24
75.84
43.24%
ASR
Grupo Aeroportuario del Sureste
355.95
119.13
50.31%
CAAP
Corporacion America Airports SA
27.08
10.34
61.77%
Grupo Aeroportuario Del Centro Corporate Events
Grupo Aeroportuario del Centro Norte Posts 5.4% Passenger Traffic Growth in February 2026
Mar 6, 2026
Mexican airport operator Grupo Aeroportuario del Centro Norte, or OMA, runs 13 international airports in central and northern Mexico, including hubs such as Monterrey and tourist destinations like Acapulco, Mazatlán, and Zihuatanejo. The comp...
Grupo Aeroportuario del Centro Norte Posts Higher 4Q25 Traffic, EBITDA and 2025 Growth
Feb 24, 2026
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 inc...
Grupo Aeroportuario del Centro Norte Reports 6% Passenger Traffic Growth in January 2026
Feb 6, 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 ...
Grupo Aeroportuario del Centro Norte Posts 6.9% Passenger Traffic Growth in December 2025
Jan 8, 2026
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 com...
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.