Grupo Aeroportuario del Pacifico (PAC) AI Stock Analysis

• Market Cap: $11.86B
• Dividend Yield: 4.46%
• Average Volume (3M): 102.29K
• Price to Earnings (P/E): 24.0
• Beta (1Y): 0.80
• Revenue Growth: 11.58%
• EPS Growth: 1.15%
• Country: US
• Employees: 3,541
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 2.06
• Shares Outstanding: 42,948,586
• 10 Day Avg. Volume: 145,679
• 30 Day Avg. Volume: 102,289
• PEG Ratio: 1.90
• Price to Book (P/B): 10.68
• Price to Sales (P/S): 7.38
• P/FCF Ratio: 40.99
• Enterprise Value/Market Cap: 18.21
• Enterprise Value/Revenue: 6.64
• Enterprise Value/Gross Profit: 20.35
• Enterprise Value/Ebitda: 10.71
• 1Y Price Target: $260.00
• Price Target Upside: 9.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 14.81
• Revenue Forecast (FY): $2.60B

• Rating: 65 Neutral
• Price Target: $255.00 ▲(7.44% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

PAC’s score is driven primarily by solid profitability and constructive 2026 guidance, but is held back by elevated leverage, recent revenue/margin softening and choppier free cash flow. Technicals add additional caution given weak near-term trend, while valuation is mixed (strong yield but a higher P/E).

Positive Factors

High EBITDA margins

Sustained ~65% EBITDA margins indicate durable operating leverage from regulated aeronautical fees and high-margin commercial operations. Such structural profitability supports cash generation, covers maintenance CapEx and underpins resilience across business cycles over the next 2–6 months.

Strong commercial (non-aeronautical) growth

Rapid non-aeronautical growth and higher revenue per passenger reflect durable improvements in retail, F&B, cargo and leasing execution. Commercial mix diversification increases margin stability and reduces reliance on cyclical aeronautical volumes over a multi‑quarter horizon.

Strategic consolidation and capacity program

CBX consolidation and a multi‑year Master Development CapEx program create structural upside via operational integration, revenue synergies and terminal capacity expansion. These strategic moves can sustainably boost commercial yields and cross-border traffic over 2026–2027.

Negative Factors

Elevated financial leverage

High debt-to-equity (~2.5x) reduces financial flexibility and increases sensitivity to interest and FX volatility. In a cyclical travel environment or if traffic lags, elevated leverage constrains discretionary investment, dividend capacity and speeds balance-sheet repair needs over coming quarters.

Volatile free cash flow

Material FCF volatility and FCF under half of net income imply heavier reinvestment and working capital swings. This undermines sustained deleveraging, limits optionality for buybacks or special dividends, and could strain liquidity if capex or adverse events persist.

Exposure to natural and security disruptions

Significant weather damage in Jamaica and security-related cancellations in Jalisco highlight structural operating risk: airport throughput and commercial yields can swing sharply from natural events or unrest. Such exposures can pressure revenues and margin recovery for multiple quarters.

Grupo Aeroportuario del Pacifico Business Overview & Revenue Model

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V., together with its subsidiaries, manages, operates, and develops airports primarily in Mexico's Pacific region. It operates 12 airports in Guadalajara, Puerto Vallarta, Tijuana, San Josédel Cabo, Guanajuato (Bajío), Hermosillo, Mexicali, Los Mochis, La Paz, Manzanillo, Morelia, and Aguascalientes. The company was incorporated in 1998 and is headquartered in Guadalajara, Mexico.

How the Company Makes Money

Grupo Aeroportuario del Pacifico generates revenue primarily through airport usage fees charged to airlines, which include landing and takeoff fees, as well as passenger service charges collected from travelers. Additional revenue streams come from commercial activities within the airports, such as retail concessions, food and beverage sales, and advertising spaces. The company also benefits from non-aeronautical revenues, including leasing spaces to businesses that operate within airport terminals. Strategic partnerships with airlines and tourism boards, along with investments in infrastructure improvements, further enhance revenue potential by increasing passenger traffic and operational efficiency.

Grupo Aeroportuario del Pacifico Financial Statement Overview

Summary

Strong underlying profitability (high operating/EBITDA margins and solid net margins) supports the score, but it is tempered by higher leverage (debt-to-equity ~2.5x in TTM), softer recent revenue (TTM down ~5% YoY), margin compression versus 2024, and less consistent free cash flow (TTM FCF down ~27% and below half of net income).

Income Statement

PAC shows strong profitability for an airport operator, with high operating and EBITDA margins across the period and solid net margins. Earnings power remains healthy in TTM (Trailing-Twelve-Months), but the revenue trajectory has softened recently (TTM revenue down ~5% vs. the prior year), and margins in TTM are notably lower than 2024, indicating some pressure on pricing, costs, or mix.

Balance Sheet

The balance sheet is functional but levered. Debt has risen over time and leverage is elevated (debt-to-equity ~2.5x in TTM (Trailing-Twelve-Months) versus ~1.1x in 2020), which reduces flexibility in a cyclical travel environment. Offsetting this, returns on equity are strong (roughly mid-30% to high-40% range in recent years), suggesting the asset base is generating attractive profits, albeit with meaningful financial leverage.

Cash Flow

Cash generation is generally solid with strong operating cash flow, but free cash flow is more volatile. In TTM (Trailing-Twelve-Months), free cash flow fell ~27% and equates to less than half of net income, implying heavier reinvestment needs and/or working-capital swings. Free cash flow improved in 2024 and is higher than 2022–2023 levels, but consistency remains the key weakness.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	32.53B	26.78B	33.22B	27.38B	19.01B
Gross Profit	25.06B	20.67B	19.41B	14.54B	9.38B
EBITDA	21.33B	18.11B	18.68B	16.10B	10.90B
Net Income	10.00B	8.61B	9.54B	9.01B	6.00B
Balance Sheet
Total Assets	88.14B	81.65B	67.44B	60.51B	55.32B
Cash, Cash Equivalents and Short-Term Investments	10.45B	13.47B	10.06B	12.37B	13.33B
Total Debt	46.66B	48.03B	40.62B	34.41B	27.92B
Total Liabilities	63.30B	57.03B	46.50B	40.68B	34.89B
Stockholders Equity	22.47B	22.35B	19.78B	18.64B	19.29B
Cash Flow
Free Cash Flow	5.85B	8.83B	3.49B	4.09B	6.15B
Operating Cash Flow	18.25B	16.67B	13.93B	12.52B	11.10B
Investing Cash Flow	-12.27B	-8.78B	-11.09B	-8.48B	-4.97B
Financing Cash Flow	-9.43B	-5.02B	-4.79B	-4.93B	-7.35B

Grupo Aeroportuario del Pacifico Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 237.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAC, the sentiment is Negative. The current price of 237.35 is below the 20-day moving average (MA) of 273.37, below the 50-day MA of 272.17, and below the 200-day MA of 242.01, indicating a bearish trend. The MACD of -8.64 indicates Positive momentum. The RSI at 32.80 is Neutral, neither overbought nor oversold. The STOCH value of 13.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PAC.

Grupo Aeroportuario del Pacifico Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OMAB	79 Outperform	$5.27B	17.70	49.49%	4.03%	-2.04%	-3.82%
CAAP	71 Outperform	$4.15B	13.32	13.25%	―	14.87%	-47.71%
ASR	69 Neutral	$9.89B	16.66	22.64%	11.85%	8.70%	-21.15%
PAC	65 Neutral	$11.86B	23.99	42.68%	4.46%	11.58%	1.15%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Grupo Aeroportuario del Pacifico Corporate Events

Grupo Aeroportuario del Pacífico Passenger Traffic Falls 5.5% in February 2026 on Weather and Security Disruptions

On March 6, 2026, Grupo Aeroportuario del Pacífico reported that total terminal passenger traffic in February 2026 fell 5.5% year-on-year to 4.61 million, with a 4.5% decline in domestic passengers and a 6.6% drop in international traffic. The company also noted a 3.4% reduction in available seats and a lower load factor of 79.4%, and highlighted that flight cancellations in Jalisco on February 22–23 and hurricane-related disruptions in Jamaica, particularly at Montego Bay, weighed on volumes at several of its key airports, partly offset by growth in locations such as Los Cabos, Morelia, and La Paz.

Within its Mexican network, Tijuana, Puerto Vallarta, and Guadalajara all experienced year-on-year traffic declines in February, while Los Cabos saw a modest 0.8% increase in total passengers. In Jamaica, Montego Bay and Kingston posted traffic decreases of 31.4% and 2.1%, respectively, reflecting the operational impact of Hurricane Melissa and underscoring the company’s exposure to weather and security events that can pressure throughput and capacity utilization across its portfolio.

The most recent analyst rating on (PAC) stock is a Hold with a $284.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.

Grupo Aeroportuario del Pacífico Posts Higher 4Q25 Revenues but Profit Hit by Costs and Jamaica Disruptions

Grupo Aeroportuario del Pacífico reported unaudited consolidated results for the fourth quarter of 2025 on February 23, 2026, showing that combined aeronautical and non-aeronautical service revenues rose 12.8%, while total revenues increased 2.8% compared with 4Q24. Income from operations grew 8.4% and EBITDA rose 7.5% to Ps. 5,114.3 million, but a higher cost base pushed the EBITDA margin down and comprehensive income fell 34.3% year-on-year.

The group’s aeronautical revenues in 4Q25 benefited from Mexico’s newly implemented airport tariffs for the 2025–2029 period and from the launch of multiple new domestic and international routes, particularly via Guadalajara and key tourist destinations. However, total passenger traffic across its 14 airports slipped 0.9% after Hurricane Melissa forced temporary closures and caused damage at Montego Bay and disruptions at Kingston in October 2025, underscoring GAP’s exposure to weather and tourism-related shocks despite a solid cash position of Ps. 10,453.2 million at year-end 2025.

The most recent analyst rating on (PAC) stock is a Buy with a $305.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.

Grupo Aeroportuario del Pacífico Posts 2.2% Passenger Decline in January on Jamaica Disruptions

On February 5, 2026, Grupo Aeroportuario del Pacífico reported that total passenger traffic across its network fell 2.2% in January 2026 versus January 2025, as a 1.2% increase at its 12 Mexican airports was more than offset by steep declines in Jamaica, where Montego Bay and Kingston saw traffic slump 37.7% and 6.9%, respectively, due to disruptions from Hurricane Melissa. While key Mexican hubs such as Guadalajara and Puerto Vallarta posted solid growth and domestic traffic rose 2.3%, international traffic across the system dropped 6.9%, load factors weakened to 79.7% from 83.9% despite a 3.0% increase in available seats, and traffic at Tijuana was hit by an 10%-plus drop in cross‑border CBX users, underscoring weather-related and demand pressures that could weigh on GAP’s near-term operating performance and regional tourism flows.

The most recent analyst rating on (PAC) stock is a Buy with a $305.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.

Grupo Aeroportuario del Pacífico Refinances US$95.5 Million Bank Loan

On January 20, 2026, Grupo Aeroportuario del Pacífico refinanced a US$95.5 million bank loan that matured that same day with Scotiabank Inverlat, replacing it with a new 12‑month financing agreement with The Bank of Nova Scotia. The new facility, which matures on January 19, 2027 and allows for early repayment, carries a variable interest rate of one‑month SOFR plus 50 basis points with no additional fees, suggesting the company is proactively managing short‑term debt costs and liquidity while maintaining financial flexibility for its airport operations in Mexico and Jamaica.

The most recent analyst rating on (PAC) stock is a Buy with a $293.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.

Grupo Aeroportuario del Pacífico Posts Flat December Traffic as Hurricane Melissa Hits Jamaican Operations

On January 6, 2026, Grupo Aeroportuario del Pacífico reported that total terminal passenger traffic across its network rose 0.1% year-on-year in December 2025, with its 12 Mexican airports posting a solid 4.2% increase driven by strong double-digit gains in Guadalajara and continued growth in Puerto Vallarta, Mexicali, La Paz and other regional facilities. However, this growth was largely offset by a 6.2% decline in international traffic, mainly due to a 43.8% plunge in passengers at Jamaica’s Montego Bay airport and a smaller drop in Kingston, reflecting significant operational disruption from Hurricane Melissa and underlining the company’s exposure to weather-related risks in its Caribbean assets.

The most recent analyst rating on (PAC) stock is a Hold with a $260.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.

Grupo Aeroportuario del Pacífico Secures Shareholder Approval for Strategic Merger

On December 11, 2025, Grupo Aeroportuario del Pacífico (GAP) announced that its shareholders approved the business combination of Cross Border Xpress (CBX) and the provision of technical assistance and technology transfer services. This approval, with a 96% vote in favor, will lead to the issuance of approximately 90 million new shares, increasing the total to around 595 million shares. The merger marks a significant step in GAP’s strategic development, allowing it to consolidate its control over merged entities and enhance its operational capabilities.

The most recent analyst rating on (PAC) stock is a Hold with a $234.00 price target. To see the full list of analyst forecasts on Grupo Aeroportuario del Pacifico stock, see the PAC Stock Forecast page.