Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB): A Bull Case Theory

We came across a bullish thesis on Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) on Substack by Chit Chat Stocks. In this article, we will summarize the bulls’ thesis on OMAB. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB)’s share was trading at $88.42 as of May 2nd. OMAB’s trailing and forward P/E were 16.30 and 15.06 respectively according to Yahoo Finance.

A busy airport terminal full of travelers eager to utilize the company’s services.

Grupo Aeroportuario del Norte (OMAB) in Q1 reported 9.1% year-over-year passenger traffic growth and 15.6% revenue growth in pesos (excluding construction sales), indicating strong pricing power and increasing revenue per passenger. Commercial revenue per passenger rose 12.5%, supported by Monterrey’s growing role as a major transportation hub. OMAB’s operating margin over the last twelve months was an impressive 56.4%, close to an all-time high, reflecting its efficient cost structure and high-quality earnings profile. While cost categories such as employee expenses, maintenance, and concession taxes are rising, the overall margin strength highlights the company’s ability to offset inflation through top-line growth. A major catalyst lies ahead with the upcoming renewal of OMAB’s government contract, expected later this year. Given the inflation buildup over the past five years, a favorable renegotiation could drive a significant earnings inflection starting in 2026. Currently trading at just 11x last twelve months’ operating income, OMAB remains cheap for an essential infrastructure asset with long-term tailwinds and embedded pricing power. The stock offers a compelling combination of resilience, cash flow, and upside optionality through contract renegotiation, making it a standout opportunity in today’s market.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held OMAB at the end of the fourth quarter which was 9 in the previous quarter. While we acknowledge the risk and potential of OMAB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than OMAB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.