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Grupo Aeroportuario del Centro Norte, S.A. (OMAB) Fair Value & Analysis

Industrials · US · Market cap $5.5B

GA Grupo Aeroportuario del Centro Norte, S.A. logo Grupo Aeroportuario del Centro Norte, S.A. OMAB · US
Price$110.44
Fair Value$152.32
Upside+37.9%
Quality75/100
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Healthy Growth
Highly profitable · 32.6% net margin
Moderate debt · generates free cash flow
5.06% dividend yield
Ranks above peers (11/12)
Wide moat 100/100
Evidence: High Range $114.24 – $213.56 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from $152.06 to $152.32 (+0.2%) since Jun 24, 2026. Share price +2.9% over the past month.

A strong business, screening 38% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($114.24). The market is more pessimistic than our downside scenario.
  • A fairly wide model range ($114.24 to $213.56) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$131.13 $30.03 Fair Value $152.32 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range $30.03 – $131.13 · fair‑value band $114.24 – $213.56 · the $110.44 price screens below the $152.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Grupo Aeroportuario del Centro Norte, S.A. (OMAB) currently trades at $110.44, while our model-based Fair Value estimate is $152.32, implying the stock looks roughly 37.9% undervalued today. The Quality Score stands at 75/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Grupo Aeroportuario del Centro Norte, S.A. generated revenue of $16.2B at a net margin of 32.6%. Revenue grew 6.9% year over year. It earns a return on equity of 43.4%. Net debt stands at $10.5B. Fundamentals as of Jul 18, 2026

Our scenario range runs from $114.24 (bear case) to $213.56 (bull case); at $110.44, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -29% fair-value upside, at 38%, OMAB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $2,046 $4,108 $7,161 80
Residual Income $727.42 $858.08 $3,668 76
Rev-Margin DCF $855.51 $1,420 $2,193 74
All 26 models by family
DCF Models
FCF DCF $2,102 $4,082 $8,127 38
Owner Earnings $1,692 $3,459 $6,646 31
5Y Revenue Exit $855.51 $1,410 $2,122 39
5Y EBITDA Exit $1,987 $3,873 $6,329 41
5Y P/E Exit $1,810 $3,488 $5,485 38
10Y Revenue Exit $1,238 $1,933 $2,952 36
10Y EBITDA Exit $2,005 $3,755 $6,586 37
10Y P/E Exit $1,888 $3,470 $5,857 35
Earnings-Based
Graham-Dodd $863.81 $4,789 $6,648 54
Lynch FV $1,336 $1,909 $2,482 50
PEG = 1.0 $1,336 $1,909 $2,482 46
EPV $1,236 $1,464 $1,661 59
Dividend Discount
Gordon GGM $933.32 $1,860 $2,816 70
DDM Multi-Stage $933.32 $1,607 $1,963 61
Multiples
P/E Multiple $2,001 $2,668 $3,335 63
P/S Multiple $569.47 $759.30 $949.12 58
P/B Multiple $903.75 $1,205 $1,506 55
EV/EBIT $2,504 $3,408 $4,312 53
EV/EBITDA $2,070 $2,829 $3,588 54
EV/Revenue $271.70 $476.71 $681.72 43
Asset-Based
NCAV (Graham) $133.89 $179.41 $267.78 50
Growth DCF
Growth DCF $2,046 $4,108 $7,161 80
Rev-Margin DCF $855.51 $1,420 $2,193 74
Economic Profit
Residual Income $727.42 $858.08 $3,668 76
ROIC Compounder $1,460 $2,017 $2,724 72
Growth Earnings
Growth-Adj P/E $2,014 $2,877 $3,740 68

Widest divergence: DCF Models ($3,470) versus Asset-Based ($179.41). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $16.2B
Revenue growth (YoY) +6.9%
Net margin 32.6%
Return on equity 43.4%
Free cash flow $7.4B FY2025
P/E ratio 17.9
More key figures
Operating margin 54.5%
EPS (TTM) $6.36
Dividend yield 5.1%
EPS growth (YoY) -4.2%
Net debt $10.5B FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 69 · Market factors (momentum, volatility) 60

Profitability 79
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico.

Full company description

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. It operates 13 international airports in Monterrey; Acapulco, Mazatlán, and Zihuatanejo; Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas; and Ciudad Juárez and Reynosa cities. The company is also involved in leasing of space to restaurants and retailers. In addition, it engages in the operation of parking facilities; OMA Carga business comprising warehouses that provides cargo logistics services, such as storage, handling, custody maneuvers, loading and unloading, x-ray screening of exports, and other services; the Terminal 2 NH Collection Hotel; and the Hilton Garden Inn Hotel at the Monterrey airport; and non-permanent ground transportation. Further, the company provides aeronautical services, which include passenger, aircraft landing and parking, airport security, passenger walkway, and complementary services; car parking; checked baggage-screening services; and construction services. Additionally, it builds and operates industrial park at the Monterrey airport. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. was incorporated in 1998 and is based in Mexico City, Mexico.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Grupo Aeroportuario del Centro Norte, S.A. reported revenue of $16.0B in FY2025 versus $8.7B in FY2021, a compound +16.3%/yr. Reported net income was $5.3B in FY2025, compounding +16.9%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$16.0B
Latest YoY
+5.9%
Avg. growth/yr (3Y)
+10.2%
Avg. growth/yr (5Y)
+24.4%
Avg. growth/yr (21Y)
+26.7%
Revenue +16.3%/yr
FY21 $8.7B
FY22 $11.9B
FY23 $14.5B
FY24 $15.1B
FY25 $16.0B
Net income +16.9%/yr
FY21 $2.9B
FY22 $3.9B
FY23 $5.0B
FY24 $4.9B
FY25 $5.3B

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Cite: Fair Value Calculator (2026). "Grupo Aeroportuario del Centro Norte, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/OMAB

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Airports & Air Services · 55 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 75 · Top 25%
Fair Value upside +38% · Top 25%
Return on equity (TTM) 43% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 33% · Top 25%
Operating margin (TTM) 55% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 1.05× · Higher than 75% of peers

Valuation Multiples vs Airports & Air Services median · lower = cheaper

P/E (TTM) 17.9× · Cheaper than median
P/FCF 0.7× · Cheaper than median
PEG 0.76× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 84 · sector 36
FUTURE 35 · sector 31
PAST 100 · sector 45
HEALTH 48 · sector 90
DIVIDEND 100 · sector 46

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A AENA €26.24 €28.41 +8%
Airports of Thailand Public Company TATD 2.44 SGD 1.25 SGD -49%
GMR Airports Limited GMRINFRA ₹112.80 ₹22.29 -80%
Flughafen Zürich AG FHZN CHF 237.20 CHF 121.30 -49%
Shanghai International Airport Co 600009 ¥24.08 ¥17.09 -29%
Auckland International Airport Limited AIA A$7.11 A$2.80 -61%
Fraport AG FRA €69.35 €49.83 -28%
Københavns Lufthavne A/S KBHL kr 5,660 kr 1,821 -68%
SATS Ltd S58 4.82 SGD 4.03 SGD -16%
Flughafen Wien Aktiengesellschaft, FLU €50.60 €46.33 -8%

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Frequently asked questions

Is Grupo Aeroportuario del Centro Norte, S.A. (OMAB) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of $152.32 versus a price of $110.44, about +38% (undervalued).
What is the fair value of OMAB?
Our model-based fair value for Grupo Aeroportuario del Centro Norte, S.A. is $152.32 (as of Jul 18, 2026), built from audited fundamentals. The current price is $110.44.
What is the quality score of OMAB?
Grupo Aeroportuario del Centro Norte, S.A. has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Grupo Aeroportuario del Centro Norte, S.A. (OMAB)?
Grupo Aeroportuario del Centro Norte, S.A. reported trailing-twelve-month revenue of about $16.2B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of OMAB?
The net profit margin of Grupo Aeroportuario del Centro Norte, S.A. is about 32.6%, meaning it keeps roughly 32.6% of revenue as net income. Based on the latest reported figures.
Does Grupo Aeroportuario del Centro Norte, S.A. pay a dividend?
Grupo Aeroportuario del Centro Norte, S.A. currently shows a dividend yield of about 5.06% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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