Grupo Aeroportuario Del Pacifico (PAC)
NYSE:PAC
Want to see PAC full AI Analyst Report?
Top Page
Grupo Aeroportuario del Pacifico
(NYSE:PAC)
Select Model
Select Model
Rating:73Outperform
Price Target:
$256.00
▲(1.48% Upside)
Action:Reiterated
Date:04/23/26
The score is driven primarily by strong profitability and solid cash generation, supported by constructive technicals (uptrend and positive momentum). It is held back by balance-sheet leverage and valuation (high P/E), plus near-term traffic and cost pressures highlighted on the latest earnings call despite maintained guidance.
Positive Factors
High profitability & margins
Sustained, very high EBITDA margins signal durable operating efficiency and pricing power across aeronautical and commercial streams. Strong margins support internal funding for growth, dividend capacity and resilience through cyclical traffic swings over the next several quarters.
Negative Factors
Elevated leverage
A roughly 2x debt-to-equity ratio limits financial flexibility for an infrastructure operator exposed to cyclical demand. Higher leverage raises sensitivity to interest rates and reduces headroom for unexpected traffic shocks, potentially constraining future discretionary investment or payout in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability & margins
Sustained, very high EBITDA margins signal durable operating efficiency and pricing power across aeronautical and commercial streams. Strong margins support internal funding for growth, dividend capacity and resilience through cyclical traffic swings over the next several quarters.
Read all positive factors
Grupo Aeroportuario del Pacifico (PAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.99B
Dividend Yield4.46%
Average Volume (3M)103.20K
Price to Earnings (P/E)20.6
Beta (1Y)0.63
Revenue Growth20.39%
EPS Growth16.34%
CountryUS
Employees3,541
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)214.20
Shares Outstanding42,948,586
10 Day Avg. Volume100,394
30 Day Avg. Volume103,204
Financial Highlights & Ratios
PEG Ratio1.90
Price to Book (P/B)10.68
Price to Sales (P/S)7.38
P/FCF Ratio40.99
Enterprise Value/Market Cap15.27
Enterprise Value/Revenue5.58
Enterprise Value/Gross Profit16.75
Enterprise Value/Ebitda9.05
Forecast
1Y Price Target
$275.67Price Target Upside9.27% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)13.63
Revenue Forecast (FY)$2.56B
Grupo Aeroportuario del Pacifico Business Overview & Revenue Model
Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V., through its subsidiaries, is dedicated to the comprehensive management, operation, and development of airports, predominantly situated in Mexico's Pacific region. The company oversees a network of ...
How the Company Makes Money
GAP generates revenue primarily by operating airports under long-term concession arrangements and charging for (1) aeronautical services tied to aircraft and passenger operations and (2) non-aeronautical/commercial activities within airport facili...
Grupo Aeroportuario del Pacifico Earnings Call Summary
Earnings Call Date:Apr 20, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Positive
The call presents a generally positive financial and strategic picture: revenues grew (+2.8%), EBITDA expanded (+6.4%) and liquidity was strengthened (MXN 23.2 billion cash; MXN 10.7 billion bond). Management highlighted strong non-aeronautical/cargo performance and progress on the strategic CBX acquisition, while acknowledging significant near-term operational headwinds — a 5.5% decline in passenger traffic, higher operating costs (+6.5%), hurricane-related disruption in Jamaica, a security incident in Jalisco affecting key leisure airports, and fuel-price driven uncertainty that could pressure airline capacity. Management maintained guidance while flagging traffic visibility risk and expects recovery toward year-end (pre-storm levels by Q4). Overall, the positive financial resilience and strategic actions outweigh the operational headwinds, but material near-term risks remain.Positive Updates
Revenue Growth
Total revenues increased 2.8% year-over-year in Q1 2026, driven by strength in both aeronautical and non-aeronautical streams.
Negative Updates
Passenger Traffic Decline
Total passenger traffic across GAP's 14 airports decreased 5.5% YoY in Q1 2026, reflecting weather-related disruption in Jamaica (Hurricane Melissa), a security incident in Jalisco affecting Puerto Vallarta and Los Cabos, and cross-border travel impacts at Tijuana.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total revenues increased 2.8% year-over-year in Q1 2026, driven by strength in both aeronautical and non-aeronautical streams.
Read all positive updates
Company Guidance
Management reiterated its unchanged full‑year traffic guidance of 2%–6% growth (to be reviewed in Q2), expects maximum tariff compliance to rise from ~92–93% now to about 95% by year‑end, and sees passenger volumes recovering to pre‑storm levels by Q4; they plan to consolidate the CBX/technical assistance transaction in May (Q2) using proceeds from a historic MXN 10.7 billion bond issuance, leaving cash of MXN 23.2 billion, while Q1 results that underpin the guidance included total passenger traffic down 5.5% YoY, total revenues up 2.8% YoY, aeronautical revenues +3.9% (Mexico +9.3%), another aeronautical figure noted at +6.1% with Mexico operations up to +10.7%, EBITDA +6.4% to MXN 6.0 billion with a 68.3% margin, cost of service +6.5%, Q1 CapEx MXN 1.8 billion, and a proposed dividend of MXN 20.8 per share over the next 12 months.Grupo Aeroportuario del Pacifico Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
62
Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.84B | 32.53B | 26.78B | 33.22B | 27.38B | 19.01B |
| Gross Profit | 10.93B | 25.06B | 20.67B | 19.41B | 14.54B | 9.38B |
| EBITDA | 20.23B | 17.87B | 18.11B | 18.68B | 16.10B | 10.90B |
| Net Income | 10.81B | 10.00B | 8.61B | 9.54B | 9.01B | 6.00B |
Balance Sheet | ||||||
| Total Assets | 100.52B | 88.14B | 81.65B | 67.44B | 60.51B | 55.32B |
| Cash, Cash Equivalents and Short-Term Investments | 23.19B | 10.45B | 13.47B | 10.06B | 12.37B | 13.33B |
| Total Debt | 0.00 | 46.66B | 48.03B | 40.62B | 34.41B | 27.92B |
| Total Liabilities | 72.32B | 63.30B | 57.03B | 46.50B | 40.68B | 34.89B |
| Stockholders Equity | 25.70B | 22.47B | 22.35B | 19.78B | 18.64B | 19.29B |
Cash Flow | ||||||
| Free Cash Flow | 8.90B | 5.85B | 8.83B | 3.49B | 4.09B | 6.15B |
| Operating Cash Flow | 21.35B | 18.25B | 16.67B | 13.93B | 12.52B | 11.10B |
| Investing Cash Flow | -12.45B | -12.27B | -8.78B | -11.09B | -8.48B | -4.97B |
| Financing Cash Flow | -2.45B | -9.43B | -5.02B | -4.79B | -4.93B | -7.35B |
Grupo Aeroportuario del Pacifico Technical Analysis
Neutral
252.27
Price Trends
244.65
Negative
253.21
Negative
246.66
Negative
Market Momentum
-4.65
Positive
49.01
Neutral
36.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAC, the sentiment is Neutral. The current price of 252.27 is above the 20-day moving average (MA) of 237.22, above the 50-day MA of 244.65, and above the 200-day MA of 246.66, indicating a bearish trend. The MACD of -4.65 indicates Positive momentum. The RSI at 49.01 is Neutral, neither overbought nor oversold. The STOCH value of 36.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PAC.
Grupo Aeroportuario del Pacifico Risk Analysis
Grupo Aeroportuario del Pacifico disclosed 64 risk factors in its most recent earnings report. Grupo Aeroportuario del Pacifico reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Increasing scrutiny and evolving expectations from customers, regulators, investors and other stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks. Q4, 2023
Grupo Aeroportuario del Pacifico Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $11.99B | 20.61 | 58.94% | 4.46% | 20.39% | 16.34% | |
73 Outperform | $4.31B | 14.98 | 18.34% | ― | 16.95% | 99.42% | |
65 Neutral | $4.92B | 16.00 | 49.96% | 4.03% | 12.55% | 6.09% | |
64 Neutral | $8.59B | 15.13 | 32.91% | 11.85% | 18.61% | -27.53% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
PAC
Grupo Aeroportuario del Pacifico
236.89
11.74
5.21%
OMAB
Grupo Aeroportuario Del Centro
101.77
-0.23
-0.23%
ASR
Grupo Aeroportuario del Sureste
287.09
-6.84
-2.33%
CAAP
Corporacion America Airports SA
26.43
6.99
35.96%
Grupo Aeroportuario del Pacifico Corporate Events
Grupo Aeroportuario del Pacífico Releases 2025 Sustainability Report Aligned With Global ESG Standards
Jun 9, 2026
On June 8, 2026, Grupo Aeroportuario del Pacífico published its 2025 Sustainability Report, detailing its environmental, social, and governance performance and initiatives for the period from January 1 to December 31, 2025. The document, prep...
Grupo Aeroportuario del Pacífico Launches Process to Create FIBRA GAP for 2026–2029 Airport Expansion
May 11, 2026
On May 9, 2026, Grupo Aeroportuario del Pacífico announced it has begun the process to set up an irrevocable Energy and Infrastructure Investment Trust, to be known as FIBRA GAP, which would take a minority equity interest in the company̵...
Grupo Aeroportuario del Pacífico Finalizes Full Acquisition and Merger of Cross Border Xpress
May 7, 2026
On May 7, 2026, Grupo Aeroportuario del Pacífico announced it has completed the business combination process involving Cross Border Xpress (CBX) and finalized a purchase agreement to acquire the remaining 25% stake in the CBX business, bringi...
Grupo Aeroportuario del Pacífico Reports 7.6% Drop in April Passenger Traffic
May 6, 2026
On May 5, 2026, Grupo Aeroportuario del Pacífico reported that total terminal passenger traffic across its network fell 7.6% in April 2026 versus April 2025, with its 12 Mexican airports down 6.3% overall and international traffic contracting...
Grupo Aeroportuario del Pacífico Sees Limited Impact From Spirit Airlines’ Shutdown
May 5, 2026
On May 4, 2026, Grupo Aeroportuario del Pacífico reported that Spirit Airlines’ sudden cessation of operations, announced on May 2, has only a limited impact on its network, as Spirit did not fly to any of GAP’s Mexican airports a...
Grupo Aeroportuario del Pacífico Approves 2025 Results, MXN 20.80 Dividend and New Buyback at April 22 Shareholders’ Meeting
Apr 24, 2026
On April 22, 2026, Grupo Aeroportuario del Pacífico held its Annual General Ordinary Shareholders’ Meeting in Guadalajara, where shareholders approved the CEO’s report, the 2025 unconsolidated and consolidated financial statements...
Grupo Aeroportuario del Pacífico Delivers Strong 1Q26 Earnings Despite Traffic Decline and Bolsters Funding for CBX Stake
Apr 21, 2026
On April 20, 2026, Grupo Aeroportuario del Pacífico reported first-quarter 2026 results showing resilient profitability despite softer traffic, with total revenues up 2.8%, income from operations up 7.7%, EBITDA up 6.4% and comprehensive inco...
Grupo Aeroportuario del Pacífico Reports 8.9% March Passenger Decline on Weaker International Traffic
Apr 8, 2026
On April 7, 2026, Grupo Aeroportuario del Pacífico reported that total terminal passenger traffic across its network fell 8.9% in March 2026 compared with March 2025, with its 12 Mexican airports posting a 7.6% decline. The sharpest drops wer...
Grupo Aeroportuario del Pacífico Raises Ps. 10.7 Billion in Oversubscribed Bond Issuance
Apr 1, 2026
On March 31, 2026, Grupo Aeroportuario del Pacífico announced it had successfully issued 107.18 million long-term bond certificates in the Mexican market, raising Ps. 10,718.0 million through two tranches that drew 1.74 times oversubscription...
Grupo Aeroportuario del Pacífico Refinances Ps.1,120 Million Bond Maturity With New Credit Line
Mar 24, 2026
On March 23, 2026, Grupo Aeroportuario del Pacífico paid the Ps.1,120.0 million principal at maturity of its “GAP 23L” bond certificate, covering 11.2 million certificates in total. The move reflects the airport operator’s o...
Grupo Aeroportuario del Pacífico Secures Independent Verification of Emissions Target on Sustainability-Linked Bonds
Mar 23, 2026
On March 23, 2026, Grupo Aeroportuario del Pacífico announced it had obtained independent assurance on the key performance indicator tied to its sustainability-linked bonds GAP 22L, GAP 23L, GAP 23-2L, GAP 24L and GAP 24-2L. The assurance cov...
Grupo Aeroportuario del Pacífico Refinances US$95.5 Million Loan with BBVA México
Mar 20, 2026
Grupo Aeroportuario del Pacífico (GAP) is a leading Latin American airport operator, running 12 airports in Mexico’s Pacific region, including Guadalajara, Tijuana and several key tourist destinations, as well as two major international...
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.