Financials Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Nyse

Equities

PAC

US4005061019

Airport Services

Market Closed - Nyse 21:00:02 17/05/2024 BST 5-day change 1st Jan Change
193.6 USD -0.06% Intraday chart for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. +3.27% +10.51%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 118,081 116,751 144,551 141,048 149,779 162,588 - -
Enterprise Value (EV) 1 126,813 125,553 156,750 141,048 174,139 194,331 196,115 197,718
P/E ratio 25.1 x 57.1 x 21.9 x 15.6 x 15.6 x 19.6 x 16.4 x 13.3 x
Yield 3.75% - - - 5.01% 3.83% 4.21% 4.93%
Capitalization / Revenue 7.28 x 9.84 x 7.6 x 5.15 x 4.51 x 4.83 x 4.68 x 4.19 x
EV / Revenue 7.82 x 10.6 x 8.24 x 5.15 x 5.24 x 5.77 x 5.64 x 5.09 x
EV / EBITDA 12.9 x 21.6 x 14.4 x 8.75 x 9.85 x 11.4 x 9.74 x 8.62 x
EV / FCF 22.3 x 309 x 25.5 x - 49.9 x 12.5 x 22.7 x 22.3 x
FCF Yield 4.48% 0.32% 3.92% - 2% 8.02% 4.41% 4.49%
Price to Book 6.42 x 5.72 x 8.21 x - 7.57 x 7.53 x 7.06 x 6.05 x
Nbr of stocks (in thousands) 525,576 525,576 512,302 505,277 505,277 505,277 - -
Reference price 2 224.7 222.1 282.2 279.2 296.4 321.8 321.8 321.8
Announcement Date 20/02/20 25/02/21 22/02/22 21/02/23 26/02/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,226 11,866 19,015 27,380 33,224 33,668 34,773 38,841
EBITDA 1 9,793 5,820 10,908 16,128 17,684 17,103 20,139 22,929
EBIT 1 8,017 3,820 8,857 13,814 15,139 14,437 16,616 18,902
Operating Margin 49.41% 32.19% 46.58% 50.45% 45.57% 42.88% 47.78% 48.66%
Earnings before Tax (EBT) 1 7,346 2,386 7,829 12,276 12,762 12,785 13,872 16,439
Net income 1 4,937 2,165 6,510 9,043 9,621 8,631 10,357 12,357
Net margin 30.43% 18.24% 34.24% 33.03% 28.96% 25.64% 29.79% 31.82%
EPS 2 8.934 3.892 12.86 17.90 19.04 16.40 19.64 24.28
Free Cash Flow 1 5,685 406.5 6,149 - 3,491 15,585 8,649 8,877
FCF margin 35.04% 3.43% 32.34% - 10.51% 46.29% 24.87% 22.86%
FCF Conversion (EBITDA) 58.05% 6.98% 56.37% - 19.74% 91.12% 42.94% 38.72%
FCF Conversion (Net income) 115.15% 18.78% 94.45% - 36.28% 180.56% 83.5% 71.84%
Dividend per Share 2 8.420 - - - 14.84 12.32 13.53 15.87
Announcement Date 20/02/20 25/02/21 22/02/22 21/02/23 26/02/24 - - -
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 2025 Q1 2025 Q2
Net sales 1 5,188 6,013 6,610 6,752 8,006 8,340 8,360 7,393 9,132 8,495 8,437 8,311 8,410 - -
EBITDA 1 3,255 3,708 4,082 4,085 4,252 4,696 4,577 4,270 4,142 4,649 4,262 4,121 4,228 5,067 -
EBIT 1 2,736 3,144 3,519 3,497 3,654 4,078 3,956 3,650 3,455 3,986 3,681 3,482 3,558 4,384 -
Operating Margin 52.73% 52.29% 53.23% 51.8% 45.65% 48.9% 47.32% 49.37% 37.83% 46.92% 43.63% 41.9% 42.31% - -
Earnings before Tax (EBT) 1 2,407 2,871 3,230 3,270 2,904 3,404 3,447 3,106 2,805 3,392 3,346 3,333 3,446 - -
Net income 1 1,923 2,222 2,365 2,663 1,817 2,561 2,488 2,379 2,249 2,439 2,308 2,299 2,377 - -
Net margin 37.05% 36.95% 35.77% 39.44% 22.7% 30.71% 29.77% 32.18% 24.63% 28.71% 27.36% 27.66% 28.27% - -
EPS 2 3.821 4.390 4.650 5.270 3.597 4.255 4.925 4.708 4.451 4.827 3.771 3.686 3.831 3.836 3.774
Dividend per Share 2 - - 7.200 7.200 - - 3.710 3.710 3.710 - 2.802 2.792 2.847 - -
Announcement Date 22/02/22 25/04/22 25/07/22 21/10/22 21/02/23 17/04/23 24/07/23 23/10/23 26/02/24 23/04/24 - - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 8,732 8,801 12,199 - 24,359 31,743 33,526 35,130
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.8916 x 1.512 x 1.118 x - 1.377 x 1.856 x 1.665 x 1.532 x
Free Cash Flow 1 5,685 406 6,149 - 3,491 15,585 8,649 8,877
ROE (net income / shareholders' equity) 24.5% 10.5% 31.7% - 47.2% 39.8% 42% 40.6%
ROA (Net income/ Total Assets) 12.2% 4.66% 12.2% - 15% 13.1% 14.2% 17.6%
Assets 1 40,564 46,469 53,342 - 63,975 65,697 72,993 70,120
Book Value Per Share 2 35.00 38.80 34.40 - 39.20 42.70 45.60 53.20
Cash Flow per Share 2 14.60 6.360 21.90 - 27.60 30.70 31.20 28.20
Capex 1 2,479 3,160 4,947 - 10,444 9,243 8,596 7,947
Capex / Sales 15.28% 26.63% 26.02% - 31.44% 27.45% 24.72% 20.46%
Announcement Date 20/02/20 25/02/21 22/02/22 21/02/23 26/02/24 - - -
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

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
321.8 MXN
Average target price
327.8 MXN
Spread / Average Target
+1.87%
Consensus
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