企業概要
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. is primarily engaged in holding concessions to develop, operate, and maintain airports across specific regions in Mexico, including Acapulco, Mazatlán, Zihuatanejo, Chihuahua, Culiacán, Durango, San Luis Potosí, and Tampico. The company operates within the Industrials sector, specifically focusing on the Airports & Air Services industry, which involves the provision of critical aviation infrastructure and related support services. As of the latest data, the entity possesses a market capitalization of $5.64B, generates annual revenue of $15.96B, and employs 1181 individuals. These valuation and revenue figures indicate that the company represents a substantial enterprise within its niche, commanding a significant equity value relative to its operational scale and workforce size.
財務健全性
The company reported revenue of $15.96B, net income of $5.34B, and EBITDA of $9.82B for the trailing twelve months. The substantial gap between revenue and net income, where net income is approximately 33.5% of revenue, reveals a highly efficient cost structure with significant operating leverage inherent in the airport concession model. Free cash flow stands at $2.85B, which indicates a robust capacity to generate liquidity from operations, providing the financial flexibility necessary for capital expenditures or debt servicing without relying on external financing. The gross margin is 75.6%, the operating margin is 51.8%, and the profit margin is 33.5%; these figures collectively demonstrate that the business retains a large portion of its top-line revenue after covering the cost of services sold and all operating expenses. On the balance sheet, total cash of $3.10B is compared against total debt of $13.59B, resulting in a debt-to-equity ratio of 118.91%, which suggests the company utilizes a high degree of leverage to finance its asset base rather than maintaining a conservative cash-rich posture. The current ratio is 1.32, indicating that the company holds 1.32 dollars of current assets for every dollar of current liabilities, which reflects a comfortable but not excessive short-term liquidity position. Return on equity is 48.8% and return on assets is 19.2%, metrics that reveal management's exceptional effectiveness in generating returns on the shareholders' capital and the total asset base, respectively, given the high-leverage environment.
バリュエーション評価
The trailing twelve-month P/E ratio is 18.76, while the forward P/E is 12.29, implying that the market expects earnings growth to accelerate significantly in the future to justify the lower multiple on expected earnings. The price-to-book ratio is 71.71, a metric that indicates the market prices the company at a heavy premium over its book value, likely due to the intangible value of airport concessions and the stability of regulated cash flows. Alternative valuation metrics such as the price-to-sales ratio of 0.35 and the EV/EBITDA of 5.68 suggest that the stock is valued relatively cheaply on a sales basis and offers a low multiple on earnings before interest, taxes, depreciation, and amortization. The 52-week high is $134.99 and the 52-week low is $70.24; without a specific current share price provided in the available facts to calculate the exact percentage, the trading range defines the volatility envelope within which the stock has moved over the last year. The beta value is 0.58, meaning the stock's price volatility is significantly lower than the broader market, indicating that the asset exhibits defensive characteristics during periods of market turbulence.
Growth & Income
Revenue growth year-over-year is 0.0%, while earnings growth year-over-year is 2.6%, indicating that earnings are growing faster than revenue, which suggests improvements in operational efficiency or margin expansion rather than top-line volume growth. As a dividend payer, the company offers a dividend yield of 4.2% with a payout ratio of 83.4%, a level that requires careful monitoring as it is high relative to the profit margin, potentially limiting room for dividend increases if earnings growth slows. Given the high payout ratio and the current growth profile, the company appears to prioritize returning cash to shareholders over aggressive reinvestment for expansion, as the revenue growth is currently stagnant. The overall growth and income profile presents a yield-focused investment characteristic with minimal top-line expansion and moderate earnings growth driven by margin optimization.