Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (OMAB)
UndervaluedFundamental
75
Price
$96.61
Market Cap
$4.66B
Part 1 · What the company is worth
Overview
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. It operates 13 international airports in Monterrey; Acapulco, Mazatlán, and Zihuatanejo; Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas; and Ciudad Juárez and Reynosa cities. The company is also involved in leasing of space to restaurants and retailers. In addition, it engages in the operation of parking facilities; OMA Carga business comprising warehouses that provides cargo logistics services, such as storage, handling, custody maneuvers, loading and unloading, x-ray screening of exports, and other services; the Terminal 2 NH Collection Hotel; and the Hilton Garden Inn Hotel at the Monterrey airport; and non-permanent ground transportation. Further, the company provides aeronautical services, which include passenger, aircraft landing and parking, airport security, passenger walkway, and complementary services; car parking; checked baggage-screening services; and construction services. Additionally, it builds and operates industrial park at the Monterrey airport. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. was incorporated in 1998 and is based in Mexico City, Mexico.
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Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
The other large Mexican concession group operating 12 airports on the Pacific side, competing with OMA for the same airline capacity, domestic passengers and airport commercial and cargo revenue in overlapping northern and western catchment areas such as Tijuana, Guadalajara and Los Cabos.
The third listed Mexican airport concession group, with nine airports anchored on Cancún, competing with OMA for airline route allocations and for the leisure traffic that OMA serves through Acapulco, Mazatlán and Ixtapa-Zihuatanejo.
The state-run Mexico City hub handles the largest share of Mexican domestic and international connecting traffic, competing directly with OMA's Monterrey airport as the connecting point travellers and airlines choose for flights to and from northern Mexico.
The Mexican state operator of the regional airports left outside the private concessions runs terminals in the same central and northern states as OMA, competing for the same regional passengers and for the fuel and ground-service revenue tied to them.
Balance Sheet & Liquidity
Revenue
$16.33B
Trailing 12 months (through 6/30/2026)
Net Income
$5.42B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$2.21B
Total Equity
$470M
Total Liabilities
$14.27B
Current Ratio
0.66
Interest Coverage
-
Debt/EBITDA
1.45
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$568.43
Current Price
$96.61
Margin of Safety
+83.0%
Fair Value Range
$369.48 - $767.39
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
15.12
ROE
60.5%
P/B Ratio
8.64
P/FCF
1.84
Gross Margin
67.7%
ROIC
46.8%
Profitability Radar
Value Creation (Economic Moat)
ROIC
46.8%
WACC
10.1%
ROIC − WACC
+36.7 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (12)
- Price CAGR 11.36%
- ROIC 46.8%
- Gross Margin 67.7%
- P/FCF 1.84
- Positive Free Cash Flow
- Debt/EBITDA
- DCF valuation (Undervalued)
- ROE 50.5%
- Revenue Growth 5Y 24.4%
- PEG Ratio 0.35
- Earnings Quality (OCF/NI) 1.35
- Net Margin Trend 33.5% vs 32.7%
Failed (7)
- P/B Ratio 8.64
- Debt/Equity ratio
- CapEx intensity
- Current Ratio
- Analyst Consensus 45% Buy
- Earnings Surprise avg -9.5%
- Piotroski F-Score 2/9
Unavailable (8)
- EPS data insufficient
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Share Dilution (missing shares data)
Piotroski F-Score
Serious financial concerns
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Ricardo Duenas Espriu | Chief Executive Officer | 45 |
| Mr. Ruffo Perez Pliego del Castillo | Chief Financial Officer | 49 |
| Mr. Raful Ezzat Zacarias | Chief Operating Officer | - |
| Mr. Yann Le Bihan | Chief Technical Officer | - |
| Mr. Luis Emmanuel Camacho Thierry | Investor Relations Officer | - |
| Ms. Adriana Diaz Galindo | General Counsel & Company Secretary | 56 |
| Mr. Pierre Grosmaire | Chief Commercial Officer | - |
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Latest News
Recent headlines for OMAB, sourced from Markets Gazette.