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Grupo Aeroportuario del Centro Norte SAB de CV

Grupo Aeroportuario del Centro Norte SAB de CV

OMAB
$105.31USD↓-1.77%-1.90 today

MARKET CAP

4.0B

P/E (TTM)

7.7x

FWD P/E

5.5x

DAY RANGE

$105 – $107

52W RANGE

$91
$131

AI Summary

Stalk
TrimMedium

OMAB is in a sustained Stage 4 decline, with price forming lower highs and lower lows and trading below declining short-term EMAs near multi‐month support. The medium‐term bias is bearish, but short‐term timing is neutral due to price at key support. Execution should be deferred, waiting for a bounce into the 9/21 EMA resistance zone for a rejection opportunity.

  • ↑Q1 2025 passenger traffic rose 9.1%, led by Monterrey recovery.
  • ↑Total revenues reached 14.1 B pesos; aeronautical revenue +12% YOY.
  • ↓G&A expenses rose 14% YOY, pressuring EBITDA margins.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Grupo Aeroportuario del Centro Norte (NASDAQ: OMAB) operates as a prominent airport management company in Mexico, overseeing 13 airports, including the key Monterrey Airport. Positioned strategically within the aviation sector, OMA focuses on enhancing passenger experiences, exploring international routes, and maximizing efficiency across its facilities. As the air transportation market experiences growth, OMA is well-placed to capitalize on increasing passenger traffic and evolving service demands, highlighting its integral role in Mexico's transportation infrastructure.

Bull says

  • ↑Q1 2025 passenger traffic rose 9.1%, led by Monterrey recovery.
  • ↑Total revenues reached 14.1 B pesos; aeronautical revenue +12% YOY.
  • ↑Launched 35 new routes in 2025 to expand connectivity.
  • ↑Committed 16 B pesos in Master Development Program capex.
  • ↑Dividend yield ~2%, backed by strong free cash flow.
  • ↑High profitability and growth factors support robust momentum.

Bear says

  • ↓G&A expenses rose 14% YOY, pressuring EBITDA margins.
  • ↓Earnings yield remains negative, reflecting low return potential.
  • ↓Mid-single-digit traffic growth may falter amid higher rates.
  • ↓6.9% tariff hike in April 2026 risks dampening passenger demand.
  • ↓Inflationary pressures threaten cost control and pricing power.
  • ↓Reliance on capacity expansion exposes OMA to market volatility.

Investment themes with OMAB

Airlines↓ -0.99%

Commercial airline operators and related services

DAL · AAL · UAL

Earnings Call · Q4 2024 · Mgmt. Guidance

Updated 06-21-2026bullish

Transcript signals

Bull points

  • The combination of operational restrictions at Mexico City Airport and limited aircraft availability in the market created opportunities for airlines to strengthen their international networks.
  • in the fourth quarter, total passenger traffic in our 13 airports grew by 4.6%, with a 1.5% increase in domestic traffic and significant 26.4% growth in international passenger traffic.
  • Our Alma cargo business continued to boast a strong yearly result. We made key organizational changes to improve efficiency, enhance customer service, and attract new customers. Thanks to these efforts, OMA Cargo grew by 22% in 2024.

Bear points

  • 2024 started off with challenges, particularly due to aircraft capacity constraints stemming from Pratt & Whitney engine inspection program, which affected two of our largest airline partners, Viva and Volaris.
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