Stock OMA B GRUPO AEROPORTUARIO DEL CENTRO NORTE, S.A.B. DE C.V.
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Financials Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.

Equities

OMA B

MX01OM000018

Airport Services

End-of-day quote Mexican S.E.
Other stock markets
 06:00:00 2024-05-30 pm EDT 		5-day change 1st Jan Change
173.2 MXN +3.66% Intraday chart for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. +1.95% -3.65%
May. 08 Grupo Aeroportuario Del Centro Norte, S.A.B. De C.V. Reports Terminal Passenger Traffic Results for the Month and Year to Date Ended April 2024 CI
May. 03 A return to normality for the airport sector? Our Logo

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 55,803 50,086 53,102 57,952 69,418 66,885 - -
Enterprise Value (EV) 1 56,916 51,833 55,036 64,800 77,518 75,406 75,876 77,762
P/E ratio 17.3 x 45.9 x 18.7 x 14.9 x 13.8 x 14.6 x 13.1 x 10.2 x
Yield 2.86% - 3.73% - - 6.27% 6.31% 7.27%
Capitalization / Revenue 6.54 x 9.33 x 6.09 x 4.86 x 4.8 x 4.65 x 4.39 x 3.57 x
EV / Revenue 6.67 x 9.66 x 6.31 x 5.43 x 5.36 x 5.24 x 4.98 x 4.15 x
EV / EBITDA 10.2 x 20.3 x 10.8 x 9.14 x 8.56 x 9.06 x 8.11 x 6.59 x
EV / FCF 23.8 x -255 x 21.8 x 31.2 x 23.7 x 22.1 x 18.2 x 19.9 x
FCF Yield 4.2% -0.39% 4.58% 3.21% 4.22% 4.52% 5.48% 5.02%
Price to Book 5.71 x 4.7 x 4.8 x 6.92 x 7.1 x 6.69 x 5.74 x 4.74 x
Nbr of stocks (in thousands) 393,446 390,112 386,169 386,169 386,169 386,169 - -
Reference price 2 141.8 128.4 137.5 150.1 179.8 173.2 173.2 173.2
Announcement Date 2/13/20 2/15/21 2/22/22 2/16/23 2/23/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,527 5,367 8,720 11,935 14,457 14,399 15,246 18,753
EBITDA 1 5,563 2,549 5,110 7,088 9,057 8,324 9,354 11,802
EBIT 1 4,855 1,721 4,110 6,064 8,067 7,393 8,523 10,684
Operating Margin 56.94% 32.07% 47.14% 50.81% 55.8% 51.34% 55.9% 56.97%
Earnings before Tax (EBT) 1 4,600 1,492 3,836 5,293 7,060 6,583 8,019 9,664
Net income 1 3,220 1,094 2,857 3,901 5,012 4,599 5,266 7,134
Net margin 37.76% 20.39% 32.77% 32.69% 34.67% 31.94% 34.54% 38.04%
EPS 2 8.200 2.800 7.350 10.10 12.98 11.85 13.17 17.04
Free Cash Flow 1 2,390 -203 2,521 2,080 3,271 3,407 4,162 3,903
FCF margin 28.03% -3.78% 28.91% 17.43% 22.63% 23.66% 27.3% 20.81%
FCF Conversion (EBITDA) 42.96% - 49.33% 29.34% 36.12% 40.93% 44.49% 33.07%
FCF Conversion (Net income) 74.22% - 88.23% 53.32% 65.27% 74.09% 79.03% 54.71%
Dividend per Share 2 4.063 - 5.127 - - 10.86 10.92 12.59
Announcement Date 2/13/20 2/15/21 2/22/22 2/16/23 2/23/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 2,680 2,206 2,918 3,145 3,666 3,220 3,622 3,906 3,709 3,755 3,458 3,772 3,484 3,165
EBITDA 1 1,521 1,409 1,832 1,907 1,939 1,905 2,287 2,532 2,256 1,972 2,087 2,350 2,206 2,015
EBIT 1 1,275 1,196 1,402 1,717 1,749 1,752 2,053 2,272 1,989 1,793 1,808 2,063 1,920 1,773
Operating Margin 47.59% 54.23% 48.05% 54.59% 47.71% 54.43% 56.7% 58.16% 53.63% 47.75% 52.3% 54.69% 55.11% 56.03%
Earnings before Tax (EBT) 1 1,246 1,032 1,218 1,498 1,544 1,524 1,771 2,000 1,765 1,517 1,701 1,930 1,832 -
Net income 1 1,013 748.1 924.5 1,098 1,130 1,079 1,272 1,410 1,253 1,077 1,120 1,284 1,184 1,120
Net margin 37.8% 33.91% 31.69% 34.92% 30.83% 33.51% 35.11% 36.08% 33.78% 28.68% 32.39% 34.05% 33.98% 35.39%
EPS 2 2.620 1.940 2.390 2.840 2.930 2.790 3.290 3.650 3.240 2.790 2.952 3.434 3.195 3.210
Dividend per Share 2 5.127 11.20 - - - - - - - - 5.500 - 5.500 -
Announcement Date 2/22/22 4/25/22 7/26/22 10/28/22 2/16/23 4/26/23 7/28/23 10/27/23 2/23/24 4/24/24 - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,114 1,746 1,934 6,848 8,100 8,521 8,991 10,878
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.2002 x 0.685 x 0.3785 x 0.9661 x 0.8944 x 1.024 x 0.9613 x 0.9217 x
Free Cash Flow 1 2,390 -203 2,521 2,080 3,271 3,407 4,162 3,903
ROE (net income / shareholders' equity) 35.7% 10.7% 26.3% 40.2% 55.6% 46% 44.9% 43.6%
ROA (Net income/ Total Assets) 17.4% 6.18% 13.9% 17% 20.7% 17.9% 18.1% 21.4%
Assets 1 18,555 17,706 20,540 22,980 24,154 25,739 29,090 33,310
Book Value Per Share 2 24.80 27.30 28.60 21.70 25.30 25.90 30.20 36.50
Cash Flow per Share 2 9.540 3.340 11.40 12.90 16.20 20.10 17.20 15.10
Capex 1 1,357 1,506 1,926 2,905 2,982 2,829 2,917 3,763
Capex / Sales 15.91% 28.06% 22.09% 24.34% 20.62% 19.65% 19.13% 20.06%
Announcement Date 2/13/20 2/15/21 2/22/22 2/16/23 2/23/24 - - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
173.2 MXN
Average target price
200 MXN
Spread / Average Target
+15.45%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Airport Operators
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