Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) trades at $14.65 with AI Score 52/100 (Grade B). Grupo Aeroportuario del Centro Norte, S. A. B. Market cap: $4.93B, Sector: Industrials.
Price live · AI analysis from Jun 14, 2026Analyst Coverage for GAERF: GAERF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates GAERF against Industrials peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
GAERF: 4/7 perspectives are bullish. Dominant signal: Ray Dalio bullish.
How is this calculated? →Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) Industrial Operations Profile
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. stands as a key player in Mexico's airport operations, managing 13 international airports and providing diverse services that enhance passenger experience and operational efficiency.
What Is the Investment Thesis for GAERF?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. presents a robust investment thesis characterized by a market capitalization of $4.93B and a P/E ratio of 17.3. The company's profit margin of 32.6% and gross margin of 69.0% indicate strong operational efficiency and profitability. Key growth catalysts include the increasing demand for air travel in Mexico, projected to grow at a CAGR of 5% over the next five years, and the expansion of non-aeronautical revenue streams through retail and hospitality services. The strategic partnership with VYNMSA for the industrial park is expected to further enhance revenue diversification. However, potential risks include economic fluctuations and regulatory changes in the aviation sector, which could impact passenger traffic and operational costs. Overall, GAERF's strong financial metrics and strategic initiatives position it favorably for sustained growth.
Based on FMP financials and quantitative analysis
GAERF Key Highlights
- Market cap of $4.93B reflects strong market positioning in the airport sector.
- Profit margin of 32.6% indicates high operational efficiency compared to industry averages.
- Gross margin of 69.0% showcases the company's ability to manage costs effectively.
- P/E ratio of 17.3 suggests competitive valuation within the airport operations industry.
- Dividend yield of 5.50% offers attractive returns to investors.
Who Are GAERF's Competitors?
GAERF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ESYJY easyJet plc | $8.09 | +8.11% | $6.07B | 45 |
| BAFBF Balfour Beatty plc | $11.20 | +0.00% | $5.31B | 44 |
| YMATF Azbil Corporation | $10.74 | +0.00% | $5.46B | 50 |
| FGWLF Flughafen Wien AG | $56.24 | +0.00% | $4.72B | 53 |
| NWSZF CTF Services Limited | $0.84 | -16.00% | $3.83B | 45 |
| JOBY Joby Aviation, Inc. | $9.07 | +6.89% | $8.93B | 65 |
| JTTRY Japan Airport Terminal Co., Ltd. | $15.20 | +8.88% | $2.82B | 62 |
| GOL Gol Linhas Aéreas Inteligentes S.A. | $2.71 | +3.23% | $4.35B | 62 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are GAERF's Key Strengths?
- Strong operational efficiency with a profit margin of 32.6%.
- Diverse service offerings that enhance revenue potential.
- Strategic location of airports in major Mexican cities.
- Established partnerships with airlines and commercial tenants.
What Are GAERF's Weaknesses?
- Dependence on economic conditions affecting air travel demand.
- Vulnerability to regulatory changes in the aviation sector.
- Limited international presence compared to global competitors.
- Potential operational challenges during peak travel seasons.
What Could Drive GAERF Stock Higher?
- Completion of the industrial park at Monterrey airport in 2025, expected to enhance revenue diversification.
- Increasing passenger traffic at GAERF-operated airports, driven by rising domestic and international travel.
- Expansion of non-aeronautical services, including retail and hospitality offerings at airport locations.
- Investments in technology to improve operational efficiency and passenger experience.
- Strategic partnerships that enhance service offerings and revenue potential.
What Are the Key Risks for GAERF?
- Economic downturns impacting air travel demand and operational revenue.
- Regulatory changes in the aviation sector that could affect operational costs.
- Increased competition from domestic and international airport operators.
- Vulnerability to geopolitical events or health crises that disrupt travel.
What Are the Growth Opportunities for GAERF?
- 1. Expansion of Non-Aeronautical Services: GAERF is focusing on enhancing its non-aeronautical revenue streams through retail and hospitality services at its airports. The global airport retail market is expected to reach $60 billion by 2027, providing GAERF with significant growth potential as it leverages its airport locations to attract more commercial tenants and enhance passenger spending.
- 2. Strategic Partnerships for Infrastructure Development: The alliance with VYNMSA to develop an industrial park at Monterrey airport presents a unique growth opportunity. This project is expected to generate additional revenue streams and enhance operational capabilities, with completion anticipated by 2025, aligning with the growing demand for logistics and industrial services in the region.
- 3. Increasing Air Travel Demand: The Mexican aviation market is projected to grow at a CAGR of 5% over the next five years. This growth is driven by rising disposable incomes and a growing middle class, leading to increased domestic and international travel. GAERF is well-positioned to benefit from this trend, particularly at its major airports.
- 4. Technological Advancements in Airport Operations: GAERF is investing in technology to improve operational efficiency and passenger experience. Implementing advanced security and boarding processes can enhance customer satisfaction and streamline operations, potentially increasing passenger throughput and revenue.
- 5. Sustainability Initiatives: As the aviation industry moves towards more sustainable practices, GAERF's commitment to environmental responsibility can enhance its brand image and attract eco-conscious travelers. Initiatives such as energy-efficient airport operations and waste reduction programs can position GAERF as a leader in sustainable airport management.
What Opportunities Does GAERF Have?
- Growing demand for air travel in Mexico and Latin America.
- Expansion of non-aeronautical services to increase revenue.
- Development of infrastructure projects through strategic partnerships.
- Investment in technology to enhance operational efficiency.
What Threats Does GAERF Face?
- Economic downturns impacting consumer travel behavior.
- Increased competition from both domestic and international airport operators.
- Regulatory changes that could affect operational costs.
- Potential disruptions from geopolitical events or pandemics.
What Are GAERF's Competitive Advantages?
- Strategic location of airports in key Mexican cities enhances market reach.
- Established brand reputation in airport management and operations.
- Diverse service offerings create multiple revenue streams.
- Strong partnerships with airlines and commercial tenants improve operational stability.
- Investment in technology and infrastructure supports long-term growth.
What Does GAERF Do?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) was founded in 1998 and is headquartered in Mexico City, Mexico. The company has secured concessions to develop, operate, and maintain a portfolio of 13 international airports across key Mexican cities, including Monterrey, Acapulco, and Ciudad Juárez. Over the years, GAERF has evolved from a single airport operator to a comprehensive airport management entity, offering a diverse array of services. These include aeronautical services such as passenger handling, aircraft landing, and security, as well as non-aeronautical services like retail leasing and advertising. The company also operates hotels at major airports, enhancing its service offerings. GAERF's strategic alliance with VYNMSA Desarrollo Inmobiliario, S.A. de C.V. to build and operate an industrial park at Monterrey airport exemplifies its commitment to diversification and growth. With a workforce of 1,163 employees, GAERF is well-positioned to capitalize on the growing demand for air travel and related services in Mexico, reinforcing its competitive edge in the airport management sector.
What Products and Services Does GAERF Offer?
- Operate 13 international airports across Mexico.
- Provide aeronautical services including passenger handling, security, and aircraft parking.
- Offer non-aeronautical services such as retail leasing and advertising.
- Manage hotels located at major airport terminals.
- Engage in construction and development projects related to airport infrastructure.
- Provide logistics and real estate services through strategic partnerships.
How Does GAERF Make Money?
- Generate revenue through aeronautical services fees from airlines and passengers.
- Earn income from non-aeronautical services including retail and advertising at airports.
- Operate hotels at airport locations to capture traveler spending.
- Engage in construction projects that support airport operations and infrastructure.
- Leverage strategic partnerships for diversified revenue streams.
What Industry Does GAERF Operate In?
The airlines and airport services industry is experiencing a resurgence as global travel demand rebounds post-pandemic. The Mexican aviation market is projected to grow significantly, driven by increased domestic and international travel. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. plays a crucial role in this landscape, operating 13 airports that cater to a diverse passenger base. Competitors such as easyJet plc (ESYJY) and Flughafen Wien AG (FGWLF) also vie for market share, but GAERF's strategic focus on service diversification and operational excellence positions it favorably in a competitive environment.
Who Are GAERF's Key Customers?
- Airlines operating at the airports under GAERF's management.
- Travelers utilizing airport facilities and services.
- Retailers and commercial tenants leasing space in airport terminals.
- Logistics companies utilizing air cargo services.
- Business travelers seeking hotel accommodations at airport locations.
How Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Is Valued
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. carries a market capitalization of $4.93B, placing it in the mid-cap category. Relative to its peer group, GAERF's quantitative score of 52/100 is roughly in line with the peer average of 47/100.
Company Profile
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. operates in the Airlines, Airports & Air Services industry within the Industrials sector. It is headquartered in Mexico City, MX. The company is led by CEO Ricardo Duenas Espriu. GAERF has traded publicly since 2013.
ROE 50%Key Financial Metrics
Return on equity for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. stands at 50.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 16.5%, showing how much profit it generates from its asset base. GAERF trades at a trailing price-to-earnings ratio of 17.26, below the Industrials sector average of ~30x. Its free cash flow yield is 5.1%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.12 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 5.8%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 5/9Financial Health
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 4.58 places it in the safe zone, indicating low near-term bankruptcy risk.
FY2026 estForward Outlook
Wall Street analysts project Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. revenue of about $17.32B for fiscal 2026, with EPS near $16.55. The estimate reflects 9 contributing analysts.
GAERF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Insider buying activity suggests confidence in the company's future, indicating that executives believe in upcoming growth.
- Social sentiment has shifted positively as travelers return to airports, boosting expectations for increased passenger traffic.
- Recent partnerships with airlines hint at expanding routes, which could enhance revenue streams for the company.
- Community discussions highlight a growing interest in airport infrastructure investments, positioning GAERF as a key player in the sector.
Bear Case
- Concerns over potential regulatory changes could impact operational flexibility and profitability in the airport sector.
- Negative sentiment persists around economic uncertainties that may affect travel demand, leading to cautious consumer behavior.
- Some community members express skepticism about the company's ability to scale effectively amidst increasing competition in the aviation market.
- Recent reports of delays in infrastructure projects raise doubts about the company's growth timeline and operational efficiency.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
GAERF Latest News
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Strength Seen in Grupo Aeroportuario del Centro Norte (OMAB): Can Its 7.1% Jump Turn into More Strength?
Yahoo! Finance: GAERF News · Jun 16, 2026
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How The Narrative Around Grupo Aeroportuario del Centro Norte (BMV:OMA B) Is Evolving Without New Targets
Yahoo! Finance: GAERF News · Jun 5, 2026
GAERF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for GAERF.
Price Targets
Wall Street price target analysis for GAERF.
GAERF MoonshotScore
What does this score mean?
The MoonshotScore rates GAERF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Latest News
Leadership: Ricardo Duenas Espriu
CEO
Ricardo Duenas Espriu has extensive experience in the aviation and airport management sector. He has held various leadership roles within Grupo Aeroportuario del Centro Norte since its inception in 1998, contributing to its growth and operational excellence. His educational background includes a degree in Business Administration, complemented by specialized training in airport management and operations.
Track Record: Under Ricardo's leadership, GAERF has expanded its airport portfolio and enhanced operational efficiency, achieving a profit margin of 32.6%. His strategic vision has led to successful partnerships that diversify revenue streams and improve service offerings.
GAERF OTC Market Information
The OTC Other tier includes companies that do not meet the listing requirements of major exchanges like NYSE or NASDAQ. These companies may have less liquidity and transparency, making them riskier for investors. However, they often provide opportunities for investors seeking exposure to unique markets or sectors.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Lower liquidity compared to stocks on major exchanges may lead to higher volatility.
- Limited analyst coverage can result in less market information.
- Potential for greater price fluctuations due to lower trading volumes.
- Regulatory scrutiny may differ from that of larger listed companies.
- Review financial statements and performance metrics.
- Assess market conditions affecting air travel demand.
- Evaluate the competitive landscape and GAERF's positioning.
- Investigate the company's strategic partnerships and growth initiatives.
- Consider the regulatory environment impacting airport operations.
- Established history since 1998 in airport management.
- Partnerships with reputable companies in the aviation and real estate sectors.
- Transparency in financial reporting and operational metrics.
- Positive profit margins indicating operational success.
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Industrials Stock: Key Questions Answered
What does Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. do?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. operates and manages 13 international airports across Mexico. The company provides a range of aeronautical services, including passenger handling and airport security, as well as non-aeronautical services such as retail leasing and hotel management. With a focus on enhancing the passenger experience and operational efficiency, GAERF plays a vital role in the Mexican aviation sector.
What are the key financial metrics investors watch for GAERF?
Investors closely monitor several key financial metrics for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. These include the company's market capitalization of $4.93B, a P/E ratio of 17.3, and a profit margin of 32.6%. Additionally, the gross margin of 69.0% is noteworthy, as it reflects the company's operational efficiency. The dividend yield of 5.50% also attracts income-focused investors.
What are the main risks for GAERF?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. faces several risks that could impact its operations and financial performance. Economic downturns can adversely affect air travel demand, leading to reduced revenues. Additionally, regulatory changes in the aviation sector may increase operational costs. The company also faces ongoing competition from both domestic and international airport operators, which could pressure pricing and market share.
What are the key factors to evaluate for GAERF?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) holds an AI score of 52/100 (moderate). P/E: 17.3x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does GAERF data refresh on this page?
GAERF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven GAERF's recent stock price performance?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong operational efficiency with a profit margin of 32.6%. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider GAERF overvalued or undervalued right now?
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF) trades at 17.3x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying GAERF?
Before investing in Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (GAERF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Data is based on the latest available information as of June 2026.