Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (OMAB) vs Grupo Aeroportuario Del Pacifico, S.A. de C.V. (PAC)

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. and Grupo Aeroportuario Del Pacifico, S.A. de C.V. are both Airports & Air Services companies. Grupo Aeroportuario Del Pacifico, S.A. de C.V. is the larger, with a market value of $11.0B against $4.3B — 2.6× the size. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. trades at the lower P/E: 16.5× against 19.2×. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. grew revenue faster over the last twelve months: 37.7% against 14.5%. Grupo Aeroportuario del Centro Norte S.A.B. de C.V. has the higher net margin (33.2% vs 24.5%) and the higher return on invested capital (30.0% vs 11.0%). Both pay a dividend; Grupo Aeroportuario del Centro Norte S.A.B. de C.V. yields more (5.44% vs 4.25%). Across the 23 metrics below, Grupo Aeroportuario del Centro Norte S.A.B. de C.V. leads on 17 and Grupo Aeroportuario Del Pacifico, S.A. de C.V. on 6.

Valuation

Metric OMAB PAC Airports & Air Services median
P/E 16.48 19.18 —
P/S 5.17 5.45 2.67
P/B 9.31 4.04 2.64
Price to free cash flow 12.13 46.61 —
EV/EBITDA 9.48 12.51 9.48
EV/Sales 5.76 6.57 2.90
Earnings yield 6.07% 5.21% 1.84%
Free cash flow yield 8.24% 2.15% (2.65%)

Profitability

Metric OMAB PAC Airports & Air Services median
Gross margin 74.88% 78.88% 34.42%
Operating margin 55.19% 43.56% 12.44%
Net margin 33.22% 24.51% 6.20%
Free cash flow margin 42.58% 11.69% 5.08%
Return on equity 67.69% 27.15% 24.83%
Return on assets 20.20% 9.57% 2.84%
Return on invested capital 30.00% 11.04% 5.66%

Growth

Metric OMAB PAC Airports & Air Services median
Revenue growth (TTM) 37.68% 14.49% 12.21%
EPS growth (last fiscal year) 25.25% 7.05% —
Revenue growth, 5-year CAGR 26.89% 31.18% 26.64%
Net income growth, 5-year CAGR 40.11% 40.15% 1.16%

Health

Metric OMAB PAC Airports & Air Services median
Debt to equity 1.35 1.19 0.48
Current ratio 0.66 0.84 1.31
Net debt to EBITDA 1.06 1.99 0.72

Dividend

Metric OMAB PAC Airports & Air Services median
Dividend yield 5.44% 4.25% —
Payout ratio 0.87 0.58 0.00

Size

Metric OMAB PAC Airports & Air Services median
Market cap 4.28b 10.98b 4.06b

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