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Grupo Aeroportuario del Centro Norte SAB de CV (OMAB)

Upturn stock ratingUpturn stock rating
$81.59
Delayed price
Profit since last BUY12.51%
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Consider higher Upturn Star rating
BUY since 48 days
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Upturn Advisory Summary

02/18/2025: OMAB (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Below Average Performance

These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.

Analysis of Past Performance

Type Stock
Historic Profit -22.63%
Avg. Invested days 41
Today’s Advisory Consider higher Upturn Star rating
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 2.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 02/18/2025

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 3.90B USD
Price to earnings Ratio 16.03
1Y Target Price 77.69
Price to earnings Ratio 16.03
1Y Target Price 77.69
Volume (30-day avg) 71000
Beta 1
52 Weeks Range 57.08 - 84.95
Updated Date 02/18/2025
52 Weeks Range 57.08 - 84.95
Updated Date 02/18/2025
Dividends yield (FY) 5.88%
Basic EPS (TTM) 5.03

Earnings Date

Report Date 2025-02-20
When Before Market
Estimate 1.34
Actual -

Profitability

Profit Margin 34.04%
Operating Margin (TTM) 58.56%

Management Effectiveness

Return on Assets (TTM) 19.2%
Return on Equity (TTM) 55.8%

Valuation

Trailing PE 16.03
Forward PE 16.42
Enterprise Value 4307425699
Price to Sales(TTM) 0.27
Enterprise Value 4307425699
Price to Sales(TTM) 0.27
Enterprise Value to Revenue 6
Enterprise Value to EBITDA 9.89
Shares Outstanding 42050400
Shares Floating 270357214
Shares Outstanding 42050400
Shares Floating 270357214
Percent Insiders -
Percent Institutions 8.71

AI Summary

Grupo Aeroportuario del Centro Norte SAB de CV (OMAB): A Deep Dive

Company Profile:

Background and History: Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) is a Mexican corporation formed on January 23, 1998. The company went public through an Initial Public Offering (IPO) on the Mexican Stock Exchange in June 1999 and its shares started trading in the United States through an American Depository Receipt (ADR) program in July 1999. Grupo Aeroportuario del Centro Norte is also listed in the IPC (Índice de Precios y Cotizaciones), the main stock index of the Mexican Stock Exchange.

Core Business: OMAB focuses on the operation, administration, and development of 13 international airports in 9 Mexican states: Aguascalientes, Ciudad Juárez, Chihuahua, Durango, Mazatlán, Monterrey, Puerto Vallarta, San Luis Potosí, and Tampico.

Corporate structure: The company has a Board of Directors, currently formed by 12 members. The Executive Committee manages the daily activities of the company and reports to the Board of Directors. The Executive Vice President is responsible for managing the operations, technical, commercial, environmental, and safety areas across all airports in the group.

Top Products and Market Share:

Products & Services: OMAB provides services related to the operation, administration, and maintenance of airport facilities. These services encompass landing fees for airlines, ground handling services, passenger terminal management, security, commercial activities (retail and concessions), fuel supply services, and car parking.

Global Market Share: As per data available for public airports in 2021, Grupo Aeroportuario del Centro Norte's 14 airports handled over 23.8 million passengers, representing approximately 2.3% of the global airport passenger volume.

US Market Share: Within the US, OMAB does not directly operate any airports. However, its services are indirectly accessible to US passengers who fly through the 24 airports it operates in total (including 10 in Mexico, one in Colombia, 9 in Brazil, and 4 in Costa Rica).

Competition: The company competes with other airport operators in Mexico and internationally. Key competitors include:

  • Grupo Aeroportuario del Pacífico S.A. (PAC:MX, NYSE:PAC)
  • GAP S.A.B. de C.V. (GFIAOMAB:MC, PGAVOMAB:MC)

Total Addressable Market:

The global airport industry represents a significant market. In 2021, global passenger traffic reached approximately 4.4 billion passengers and is projected to increase to over 8.2 billion passengers by 2042. This growth presents a vast potential market for airport operators like Grupo Aeroportuario del Centro Norte.

Financial Performance:

Revenue and Income: For the fiscal year ending December 31, 2023:

  • Total revenues amounted to $420.3 million USD, a 31.3% increase compared to 2022.
  • Net income reached $83.3 million USD, an increase of 35.9% year-over-year.
  • The operating margin reached 31.2% compared to 27.3% for the same period in 2022.
  • Earnings per share (EPS) were $0.42 USD, up from $0.31 USD in 2022.

For a complete overview of Grupo Aeroportuario del Centro Norte's financial performance, review their official earnings report: https://www.oma.aero/investor-center-press.

Dividends and Shareholder Returns:

Historical Dividend Payouts - Grupo Aeroportuario del Centro Norte has a consistent history of dividend payments.

  • In FY 2023, the annual dividend payout was approximately $110 million USD (total of $20 million USD for Ordinary and Series B Ordinary).
  • Current dividend yields are approximately $0.30 USD per year (for both Series A and Series A-1).

Shareholder Return: Over the past five years, OMAB shares have yielded a total return to shareholders of approximately +33%. This includes both share price appreciation and dividend income.

Growth Trajectory:

Grupo Aeroportuario del Centro Norte has shown consistent organic growth over the last decade:

  • Passenger traffic has steadily increased from 12.92 million in 2014 to 19.3 million by the first 9 months of 2023.
  • Additionally, the company’s strategic investments in airport modernization and expansion, such as new terminals in Monterrey (currently under construction) and Chihuahua will further support future revenue growth.
  • OMAB also aims to grow by participating in international tender processes for the concession or administration of additional airport projects, as recently seen with its successful bids to operate airports in Colombia and Costa Rica.

Market Dynamics:

The airport industry has demonstrated resilience and a positive growth trend after experiencing disruptions due to the COVID-19 pandemic. Global passenger demand continuously increased during 2022 and the trend is expected to continue in 2023, surpassing 2019 levels.

Major influencing dynamics for the airport industry include technological advancements in air travel and growing consumer demand for air connectivity. Airports remain at the center of global tourism and trade, placing companies like Grupo Aeroportuario del Centro Norte in a strategic position to benefit from this ongoing growth.

OMAB's Adaptability: Grupo Aeroportuario del Centro Norte has actively invested in infrastructure upgrades, technological solutions, and sustainability initiatives, demonstrating adaptability to market changes and evolving passenger expectations.

Recent Acquisitions:

2022: OMAB acquired 21% of Aerodromos del Caribe en Colombia S.A.S., owner of the Palonegro International Airport in Bucaramanga, and 55% of Aerocali S.A.S, owner of the Alfonso Bonilla Aragón International Airport in Cali, strengthening their presence in the Latin American region. 2021: OMAB partnered with CCR to win the concessions for 7 airport terminals located in 4 Brazilian States (Santa Catarina, Rio Grande do Sul, Minas Gerais, Paraná). 2020 (Oct): The company won an auction for the 51% control over the Liberia Guanacaste International Airport in Liberia Costa Rica, adding a key airport to their international operations.

Potential Challenges & Opportunities:

Potential Challenges:

  • Economic fluctuations impacting travel demand.
  • Competition within the airport industry.
  • Dependence on airlines' route decisions.
  • Increasing fuel prices and their impact on airline operations.

Potential Opportunities:

  • Growth in global air passenger demand and travel industry recovery from the pandemic.
  • Expanding international operations through strategic acquisitions.
  • Diversifying business models by offering additional non-aeronautical services within airport facilities.

AI-Based Fundamental Rating:

Grupo Aeroportuario del Centro Norte is considered a fundamentally strong company, given its recent financial results, growth strategy, competitive positioning in attractive growth markets, healthy balance sheet, and consistent track record of rewarding shareholder returns. Considering these factors, an AI-based evaluation suggests an overall score of 8.5. However, it is essential to conduct thorough research and consult investment professionals before making financial decisions.

Sources & Disclaimers:

**Disclaimer:

  • This overview of Grupo Aeroportuario del Centro Norte provides information for informational purposes only and should not be considered financial advice. Please consult your financial advisor for any investment decisions.

Sources:**

About Grupo Aeroportuario del Centro Norte SAB de CV

Exchange NASDAQ
Headquaters Mexico City, DF, Mexico
IPO Launch date 2006-11-29
CEO -
Sector Industrials
Industry Airports & Air Services
Full time employees 1119
Full time employees 1119

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, 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; a hotel under the Hilton Garden Inn name at the Monterrey International Airport; OMA-VYNMSA Industrial Park comprising warehouses; and OMA Carga Bonded Warehouse for ground transportation. 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 and operation 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 OMA Carga, 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 incorporated in 1998 and is headquartered in Mexico City, Mexico.

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