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
 23:00:00 28/04/2024 BST 		5-day change 1st Jan Change
189.6 MXN -0.02% Intraday chart for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. +16.17% +5.45%
04-25 Transcript : Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., Q1 2024 Earnings Call, Apr 25, 2024
04-24 Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 55,803 50,086 53,102 57,952 69,418 73,241 - -
Enterprise Value (EV) 1 56,916 51,833 55,036 64,800 77,518 81,697 82,409 84,070
P/E ratio 17.3 x 45.9 x 18.7 x 14.9 x 13.8 x 16.4 x 14.2 x 11.6 x
Yield 2.86% - 3.73% - - 4.22% 4.96% 6.11%
Capitalization / Revenue 6.54 x 9.33 x 6.09 x 4.86 x 4.8 x 5.29 x 4.75 x 4.08 x
EV / Revenue 6.67 x 9.66 x 6.31 x 5.43 x 5.36 x 5.91 x 5.34 x 4.68 x
EV / EBITDA 10.2 x 20.3 x 10.8 x 9.14 x 8.56 x 9.91 x 8.72 x 7.42 x
EV / FCF 23.8 x -255 x 21.8 x 31.2 x 23.7 x 28.8 x 20.1 x 19 x
FCF Yield 4.2% -0.39% 4.58% 3.21% 4.22% 3.48% 4.98% 5.27%
Price to Book 5.71 x 4.7 x 4.8 x 6.92 x 7.1 x 7.39 x 6.11 x 5.02 x
Nbr of stocks (in thousands) 393,446 390,112 386,169 386,169 386,169 386,169 - -
Reference price 2 141.8 128.4 137.5 150.1 179.8 189.7 189.7 189.7
Announcement Date 13/02/20 15/02/21 22/02/22 16/02/23 23/02/24 - - -
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 13,833 15,432 17,952
EBITDA 1 5,563 2,549 5,110 7,088 9,057 8,246 9,456 11,327
EBIT 1 4,855 1,721 4,110 6,064 8,067 7,313 8,570 10,628
Operating Margin 56.94% 32.07% 47.14% 50.81% 55.8% 52.87% 55.53% 59.2%
Earnings before Tax (EBT) 1 4,600 1,492 3,836 5,293 7,060 6,375 8,009 9,796
Net income 1 3,220 1,094 2,857 3,901 5,012 4,575 5,483 6,870
Net margin 37.76% 20.39% 32.77% 32.69% 34.67% 33.07% 35.53% 38.27%
EPS 2 8.200 2.800 7.350 10.10 12.98 11.59 13.36 16.40
Free Cash Flow 1 2,390 -203 2,521 2,080 3,271 2,840 4,105 4,430
FCF margin 28.03% -3.78% 28.91% 17.43% 22.63% 20.53% 26.6% 24.68%
FCF Conversion (EBITDA) 42.96% - 49.33% 29.34% 36.12% 34.44% 43.41% 39.11%
FCF Conversion (Net income) 74.22% - 88.23% 53.32% 65.27% 62.07% 74.87% 64.48%
Dividend per Share 2 4.063 - 5.127 - - 7.999 9.409 11.58
Announcement Date 13/02/20 15/02/21 22/02/22 16/02/23 23/02/24 - - -
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
Net sales 1 2,680 2,206 2,918 3,145 3,666 3,220 3,622 3,906 3,709 3,755 3,513 3,768 3,620
EBITDA 1 1,521 1,409 1,832 1,907 1,939 1,905 2,287 2,532 2,256 1,972 2,166 2,371 2,235
EBIT 1 1,275 1,196 1,402 1,717 1,749 1,752 2,053 2,272 1,989 1,793 1,874 2,064 1,929
Operating Margin 47.59% 54.23% 48.05% 54.59% 47.71% 54.43% 56.7% 58.16% 53.63% 47.75% 53.36% 54.77% 53.29%
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 1,702 1,879 1,706
Net income 1 1,013 748.1 924.5 1,098 1,130 1,079 1,272 1,410 1,253 1,077 1,157 1,276 1,184
Net margin 37.8% 33.91% 31.69% 34.92% 30.83% 33.51% 35.11% 36.08% 33.78% 28.68% 32.95% 33.87% 32.72%
EPS 2 2.620 1.940 2.390 2.840 2.930 2.790 3.290 3.650 3.240 2.790 3.000 3.300 3.070
Dividend per Share 2 5.127 11.20 - - - - - - - - 1.974 - 1.974
Announcement Date 22/02/22 25/04/22 26/07/22 28/10/22 16/02/23 26/04/23 28/07/23 27/10/23 23/02/24 24/04/24 - - -
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 8,456 9,168 10,829
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.2002 x 0.685 x 0.3785 x 0.9661 x 0.8944 x 1.025 x 0.9696 x 0.9561 x
Free Cash Flow 1 2,390 -203 2,521 2,080 3,271 2,840 4,105 4,430
ROE (net income / shareholders' equity) 35.7% 10.7% 26.3% 40.2% 55.6% 44.9% 42.8% 39.1%
ROA (Net income/ Total Assets) 17.4% 6.18% 13.9% 17% 20.7% 17.8% 17.6% -
Assets 1 18,555 17,706 20,540 22,980 24,154 25,724 31,236 -
Book Value Per Share 2 24.80 27.30 28.60 21.70 25.30 25.70 31.00 37.80
Cash Flow per Share 2 9.540 3.340 11.40 12.90 16.20 17.10 16.90 15.10
Capex 1 1,357 1,506 1,926 2,905 2,982 2,926 3,195 3,493
Capex / Sales 15.91% 28.06% 22.09% 24.34% 20.62% 21.15% 20.7% 19.46%
Announcement Date 13/02/20 15/02/21 22/02/22 16/02/23 23/02/24 - - -
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
13
Last Close Price
189.7 MXN
Average target price
195.9 MXN
Spread / Average Target
+3.31%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Airport Operators
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