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

OMAB Industrials Airports & Air Services

Grupo Aeroportuario del Centro Norte S.A.B. de C.V.’s revenue for fiscal 2025 (year ended December 2025) was $886.9 million, up 22.3% from fiscal 2024.

Revenue
+33.5%
EPS
+9.69%
Free cash flow
+16.1%
Total debt
+18.5%

Quarter to September 2026, against a year earlier

109.09 0.70 +0.65%
Market cap
$4.6B
P/E
16.1×
Fwd P/E
—
Dividend yield
4.97%
F-score
7/9
Altman Z
4.93
Beneish M
−2.69
Dividend safety
46/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 13.61%

Capital & Financial Ratios $m

Size
Market Cap 4,590.00
Revenue ttm 1,033.21
Net income ttm 464.52
Free cash flow ttm 427.90
Net debt Q 633.46
Valuation
P/E 16.13
Forward P/E —
Price / sales 5.10
Forward P/S Powerpack
Price / FCF 12.31
Price / book 8.39 (above 6: high)
Financial health
Current ratio Q 1.08
Debt / equity Q 1.37
Interest coverage Q 6.50
Growth
Revenue growth Q +33.45% (above 0%: growing)
Operating income growth Q +16.51% (above 0%: growing)
EPS, this year +7.54%
EPS, next year A +17.89% (at or above 15%: strong)
Revenue, next year A —
EPS, past 5 yrs +42.41% (at or above 15%: strong)
EPS, next 5 yrs A +13.15%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.7×, against a ten-year median of 6.3×; over the ten years it ranged from 3.0× in 2020 to 10.4× in 2021.
P/E against its own 10 years 34.84%
10-year low 10-year high
P/S against its own 10 years 22.88%
10-year low 10-year high
P/B against its own 10 years 82.47%
10-year low 10-year high
EV/Sales against its own 10 years 26.48%
10-year low 10-year high
EV/FCF against its own 10 years 31.54%
10-year low 10-year high

Dividends

Yield
4.97%
Annual rate
5.42
Payout ratio
80.2%
Growth, 2017–26
+6.10%/yr
  1. 1.71 ’17
  2. 1.62 ’18 −5
  3. 1.70 ’19 +5
  4. 1.92 ’21 +13
  5. 2.35 ’22 +23
  6. 2.14 ’23 −9
  7. 4.74 ’24 +121
  8. 4.90 ’25 +3
  9. 2.92 ’26 −41
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 152 80 172 229
Receivables 102 113 136 142
Inventory — — — —
Other 35 14 39 66
290 207 348 436
2023 2024 2025 Q'26
Payables 50 46 70 193
ST’ Debt — — 91 98
Other 37 27 33 42
146 157 263 403

Compound Annual Growth %

10y 5y 3y
Sales 12.06% 26.89% 13.10%
Cash Flow 12.23% 44.58% 17.34%
Earnings 14.30% 40.11% 13.99%
Book Value 5.37% 3.14% 13.05%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 1.86 Actual 1.78

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 1.65 1.40 Miss by 0.25
Mar 2026 1.49 1.41 Miss by 0.08
Jun 2026 1.69 1.74 Beat by 0.05
Sep 2026 1.86 1.78 Miss by 0.08
Dec 2026 1.85 — Reports 23 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.41 1.74 1.86 — —
’25 1.30 1.47 1.70 1.75 6.15
’24 1.24 1.45 1.45 0.53 4.91
’23 1.24 1.54 1.66 1.74 6.14
’22 0.78 0.95 1.13 1.20 4.15
’21 0.41 0.64 0.81 1.03 2.87
’20 0.84 (0.16) 0.06 0.23 1.05
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 217 257 282 — —
’25 175 223 211 278 887
’24 221 203 196 105 725
’23 173 205 229 248 854
’22 108 146 155 204 613
’21 73 109 119 125 426
’20 96 27 55 92 270
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 98 102 132 — —
’25 94 98 113 109 414
’24 90 59 80 69 298
’23 68 108 90 108 374
’22 35 55 79 87 256
’21 36 56 69 56 217
’20 37 (23) 18 34 65
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 95 99 130 — —
’25 92 96 112 105 405
’24 87 52 77 66 283
’23 64 103 83 101 351
’22 34 51 79 80 244
’21 35 55 68 54 212
’20 36 (27) 16 33 58
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 269 361 402 452 270 426 613 854 725 887 1,033 +14.2% — — — —
Gross margin, % 72.83 63.55 70.05 74.18 55.06 64.64 66.11 70.22 71.87 75.58 72.54 +2.8 pt
EBT 127 150 203 244 75 187 272 417 340 424 475 +14.3%
EBT margin, % 47.26 41.38 50.41 53.94 27.80 43.99 44.35 48.83 46.90 47.81 45.97 +0.6 pt
Net income 127 150 203 244 75 187 272 417 340 424 465 +14.3%
Per share, $
Per share, $ Revenue 5.47 7.34 8.18 9.20 5.53 8.77 12.70 17.70 15.02 18.37 21.40 +14.4%
Earnings 1.84 2.19 2.95 3.48 1.05 2.87 4.15 6.14 4.91 6.15 6.77 +14.3%
Cash flow 2.35 3.01 3.84 4.01 1.34 4.47 5.30 7.76 6.18 8.57 9.14 +15.4%
Capex (0.09) (0.23) (0.22) (0.06) (0.16) (0.10) (0.25) (0.49) (0.32) (0.19) (0.28) +8.8%
Free cash flow 2.26 2.78 3.62 3.95 1.18 4.37 5.05 7.26 5.86 8.38 8.86 +15.7%
Book value 6.59 7.44 8.80 10.67 11.15 11.30 9.10 12.05 10.51 13.15 13.01 +8.0%
Shares, m 49 49 49 49 49 49 48 48 48 48 48 (0.2%)
Valuation, ×
Valuation, × P/E 19.19 18.46 12.55 17.63 53.28 18.58 15.65 13.35 14.69 17.49 16.13 20.1
P/S 6.24 5.83 4.65 6.51 9.35 6.12 5.00 4.66 4.57 5.92 5.10 5.9
P/B 5.18 5.75 4.32 5.62 4.64 4.75 6.98 6.84 6.53 8.27 8.39 5.9
EV/Sales 6.54 6.15 4.85 6.66 9.67 6.34 5.49 5.23 5.18 6.57 5.71 6.3
EV/FCF 15.81 16.23 10.97 15.52 45.11 12.72 13.80 12.75 13.29 14.41 13.79 17.1
Cash, $m
Cash, $m Operating cash flow 115 148 189 197 65 217 256 374 298 414 441 +15.2%
Capex (4) (11) (11) (3) (8) (5) (12) (24) (15) (9) (13) +8.5%
Free cash flow 111 137 178 194 58 212 244 351 283 405 428 +15.4%
Balance, $m
Balance, $m Working capital 145 121 139 189 25 140 17 144 49 85 33 (5.7%)
Net debt 82 114 82 67 86 93 299 488 442 580 633 +24.3%
Shareholders’ equity 324 366 433 524 544 549 439 582 507 635 628 +7.8%
Returns, %
Returns, % ROA 12.52 15.75 19.18 19.97 6.01 13.74 17.40 22.14 16.93 19.59 17.86 +7.1 pt
ROIC 20.77 21.35 25.53 27.22 8.58 19.55 26.36 27.87 25.61 25.56 27.38 +4.8 pt
ROE 25.87 31.40 36.30 35.66 10.30 25.55 40.54 58.04 43.56 51.97 55.86 +26.1 pt
People
People Employees 1,262 1,250 1,148 1,250 870 1,182 1,256 1,270 1,326 1,355 — +0.8%
Revenue/emp, $m 0.21 0.29 0.35 0.36 0.31 0.36 0.49 0.67 0.55 0.65 — +13.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. vs peers in Airports & Air Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PAC Grupo Aeroportuario Del Pacifico, S.A. de C.V. $12.8B 21.8× 20.8× +31.37% (above 0%: growing) −0.70% (below 0%: shrinking) +499.89% (above 0%: growing) 76.68% 43.26% Compare
ASR Grupo Aeroportuario del Sureste, S.A. de C.V. $7.3B 14.3× 13.3× +23.19% (above 0%: growing) +15.26% (above 0%: growing) +36.64% (above 0%: growing) 58.03% 40.61% Compare
JOBY Joby Aviation, Inc. $5.3B — (loss-making) — (loss-making) +144.04% (above 0%: growing) n/m −27.04% (below 0%: shrinking) 29.17% (504.81%) Compare
OMAB Grupo Aeroportuario del Centro Norte S.A.B. de C.V. $4.6B 16.1× — +33.45% (above 0%: growing) +9.69% (above 0%: growing) +16.10% (above 0%: growing) 71.16% 53.40%
CAAP Corporacion America Airports S.A. $4.0B 13.9× 11.8× +12.00% (above 0%: growing) +6.67% (above 0%: growing) −11.94% (below 0%: shrinking) 30.45% 19.75% Compare
ASLE AerSale Corporation $230.0M — (loss-making) — (loss-making) −33.94% (below 0%: shrinking) n/m −141.55% (below 0%: shrinking) 22.94% (6.70%) Compare
UP Wheels Up Experience Inc. $103.8M — (loss-making) — −11.16% (below 0%: shrinking) n/m +50.25% (above 0%: growing) 16.89% (30.53%) Compare
VJET Flyte Aviation, Inc. $1.2M — (loss-making) — (loss-making) +380.66% (above 0%: growing) n/m −26.70% (below 0%: shrinking) 9.62% (388.13%) Compare
Median of peers $4.0B 14.3× 13.3× +23.19% +6.67% −11.94% 29.17% (6.70%)

All 8 Airports & Air Services stocks →

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (OMAB) Latest News

29 Oct

Impact 4 · · MarketBeat transcript

28 Jul

Impact 3 · transcript
Impact 3 · · MarketBeat transcript

8 May

Impact 3 · · Insider Monkey

29 Apr

Impact 4 · · GuruFocus.com

28 Apr

Impact 4 · · MarketBeat

12 Apr

Impact 4 · · Simply Wall St.

27 Mar

Impact 3 · · Simply Wall St.

24 Feb

Impact 4 · · GuruFocus.com
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Impact 3 · · Associated Press Finance

12 Feb

Impact 4 · · Simply Wall St.

26 Jan

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22 Jan

Impact 4 · · Zacks

24 Nov

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6 Nov

Impact 3 · · Simply Wall St.

24 Oct

Impact 4 · · GuruFocus.com
Impact 4 · · Associated Press Finance

9 Sep

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13 Aug

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30 Jul

Impact 4 · · GuruFocus.com transcript

29 Jul

Impact 4 ·

24 Jul

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23 Jun

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10 Apr

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OMAB metrics, ten years each

stockrow.com/OMAB · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com