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OMAB

9/9 Score

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

Analysis Date: February 17, 2026

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. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities. It also operates the NH Collection Hotel in Terminal 2 of the Mexico City International Airport; and a hotel under the Hilton Garden Inn name at the Monterrey International Airport. In addition, the company provides aeronautical services, which include passenger, aircraft landing and parking, boarding and unloading, passenger walkway, and airport security services. Further, it offers complementary services that comprise leasing of space to airlines, cargo handling, baggage-screening, permanent and non-permanent ground transportation, and access rights services; non-aeronautical services, such as leasing of space at its airports to retailers, restaurants, and other commercial tenants, as well as maintaining of parking facilities and advertising; and diversification services, which consists of operation and lease of the industrial park and real estate services, as well as hotel and air cargo logistics services. Additionally, the company provides construction services. It has a strategic alliance with VYNMSA Desarrollo Inmobiliario, S.A. de C.V. to build and operate an industrial park at the Monterrey airport. The company was founded in 1998 and is headquartered in Mexico City, Mexico.

Buffettology Criteria

All 9 of 9 criteria passed

  • High ROE

    Return on Equity > 12%

    Value: 52.3%

  • High ROIC

    Return on Invested Capital > 9%

    Value: 12.5%

  • Cash Machine

    FCF / Assets > 5%

    Value: 21.6%

  • Fair Valuation

    Earnings Yield > 3.5%

    Value: 5.0%

  • Share Buybacks

    Share Count is Dropping

    Value: -0.0%

  • Defensible Moat

    Gross Profit Margin > 40%

    Value: 70.3%

  • Simple Business

    Not in a speculative sector (e.g., Biotech)

    Value: Industrials

  • Conservative Debt

    Debt to Equity < 1.5

    Value: 1.35x

  • Consistent Growth

    5-Year Growth is Positive

    Value: 55.7%

Analysis Summary

This looks like a company with a strong economic engine, exhibiting a high return on equity and a robust return on invested capital. The consistent growth and defensible moat suggest a durable competitive advantage that management is stewarding well, even with a slight presence of debt that seems manageable. This company checks a lot of the boxes we look for in a quality, long-term investment.

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