Joby Aviation, Inc. (JOBY) vs Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (OMAB)

Joby Aviation, Inc. and Grupo Aeroportuario del Centro Norte S.A.B. de C.V. are both Airports & Air Services companies. Joby Aviation, Inc. is the larger, with a market value of $5.3B against $4.6B — 1.1× the size. Joby Aviation, Inc. has negative trailing earnings, so its P/E is not meaningful; Grupo Aeroportuario del Centro Norte S.A.B. de C.V. trades at 16.1×. Joby Aviation, Inc. grew revenue faster over the last twelve months: 556.4% against 44.7%. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has the higher net margin (31.8% vs −462.8%) and the higher return on invested capital (27.4% vs −243.4%). Across the 18 metrics below, Grupo Aeroportuario del Centro Norte S.A.B. de C.V. leads on 14 and Joby Aviation, Inc. on 4.

Valuation

Metric JOBY OMAB Airports & Air Services median
P/E n/m 16.13 —
P/S 35.05 5.10 2.85
P/B 2.99 8.39 2.87
Price to free cash flow n/m 12.31 —
EV/EBITDA n/m 9.71 9.34
EV/Sales 25.00 5.71 3.08
Earnings yield (13.70%) 6.20% 1.45%
Free cash flow yield (15.04%) 8.13% (6.27%)

Profitability

Metric JOBY OMAB Airports & Air Services median
Gross margin 29.19% 72.54% 39.83%
Operating margin (658.11%) 53.48% 12.44%
Net margin (462.84%) 31.81% 6.20%
Free cash flow margin (527.18%) 41.41% 1.40%
Return on equity (52.11%) 55.86% 19.45%
Return on assets (33.98%) 17.86% 2.84%
Return on invested capital (243.35%) 27.38% 5.93%

Growth

Metric JOBY OMAB Airports & Air Services median
Revenue growth (TTM) 556.36% 44.65% 22.71%
EPS growth (last fiscal year) (29.89%) 25.25% 10.67%
Revenue growth, 5-year CAGR — 26.89% 26.43%
Net income growth, 5-year CAGR 0.00% 40.11% 0.58%

Health

Metric JOBY OMAB Airports & Air Services median
Debt to equity 0.40 1.37 0.48
Current ratio 18.29 1.08 1.30
Net debt to EBITDA 2.07 1.06 0.72

Dividend

Metric JOBY OMAB Airports & Air Services median
Dividend yield — 4.97% —
Payout ratio — 0.80 —

Size

Metric JOBY OMAB Airports & Air Services median
Market cap 5.27b 4.59b 4.33b

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