OMAB
Grupo Aeroportuario del Centro Norte SAB de CV
Mentions (24Hr)
-100.00% Today
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Centro Norte: dividend paying stock with strong upside potential
Mentions
Seriously thanks so much for following up! I love to get your perspective on things. I thought I might spiral this weekend being so exposed to both $SBS & $CIG right before earnings but right now I actually feel pretty good, thinking of the combo as a Brazilian/emerging market clean energy/infrastructure dividend growth play. I see people who were early investors in this or that & want to get one of those for my portfolio, something (or 2 somethings) that I just nurse for a while, while collecting solid dividends. It's like a $SCHD/$SCHY holding, but the individual stock. My only other 2 satellites in this portfolio right now are $KEP (stupid low valuation IMO) & $OMAB (another one that's gone straight up for a long time). What was the really, really bad trade?
Just opened a position in CAAP. Goes well with my position in OMAB that I opened in Jan 2025.
USLM. Any of the metal streaming companies (FNV, WPM, etc ). Airports (OMAB, CAAP).
15 years is an extremely long time, and most businesses can't outperform that long. I'd stick to long term, physical assets. Airports like CAAP/OMAB. Great cash generation and local monopolies. Land/mineral steaming companies. ELE/WPM/LB are examples where they just take a toll on all the other activities they enable. USLM. Limestone is just awesome. Real estate with long runways and recurring revenue. JOE comes to mind.
Puts on OMAB at open? Mexico turning into a full on PvP zone mayhaps hurts the tourism.
OMAB, PAC and ASR are going to tank tomorrow. Good idea to load up
6 years of total return data | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 :--|:--|:--|:--|:--|:--|:-- My portfolio|14.20%|23.53%|(0.71)%|31.58%|13.96%|32.25% Russell 3000|20.89%|25.66%|(19.21)%|25.96%|23.81%|17.15% 6-year CAGR is 18.56% compared to market's CAGR of 14.41% Biggest contributors this year were $OMAB (+58.46%) and $PAC (+50.65%). No big detractors but worst performer was a small position in $SKYH which dropped 25%.
Totally fair. I owned CAAP and OMAB, but recently sold OMAB to buy the selloff on CAAP last week. Both great companies, but I think CAAP has more upside (though slightly higher risk).
OMAB is my go-to. I have CAAP on my watchlist but haven't felt the urge to buy yet. PAC will probably be purchased by me before CAAP.
I don't see this happening, but if you think that's where things are going you look at airports (OMAB, ASR, PAC etc), you look at rails (Groupo Mexico w/their stake in Ferromex, CP), you buy Wal Mart de Mexico SAB, you look at industrial REITs in Mexico (FIBRA Prologis, etc.) Again, I don't see this happening (at least to a signifcant degree), but if you really thought this was going to happen to a signficant degree, logistics is certainly an area I'd be looking at.
Market realizing that CAAP actually had really good earnings. Sold out of OMAB this morning to double down on CAAP.
I also own OMAB, but I'm debating selling to add to CAAP. I think there's more upside potential on their airport properties. I own both for now. I'm also looking at LNG. The LNG export infrastructure is an amazing asset with lots of tailwinds. As long as natural gas is popular, LNG will do well. Then you have other irreplaceable assets. CHDN for example, which owns Churchill Downs race track. It's an institution, you can't build anything close to that because of the history. There's weird ones like MD which operates pediatric hospitals. Logistics networks are notoriously hard to compete against too. I love HWKN because it has a distribution network for water treatment chemicals. Their network gives them a scale advantage that it would be really stupid to try and compete against. There's also royalty plays like LB, TPL, or PSK.TO. There's tons out there. Meanwhile, some of the best tech companies can be taken out by a single innovation. What happens to ASML if anyone figures out EUV lithography?
Interesting perspective, I own OMAB, that’s the only one that I can think of in terms of physical assets. What are some of the others you own ? I prefer innovation much more as there is only so much milk the cow can produce but both our statements are super general and the company context matters more.
OMAB, CELH, COST, & BLSH red for me, dragging me down to +2.55% for the day.
17.4%: Coupang (CPNG) 11.9%: Phillip Morris International (PM) 6.3%: Wise (WIZEY) 6.1%: Remitly (RELY) 5.8%: Grupo Aeroportuario Centro Norte (OMAB)
For what its worth, I still think OMAB is cheap. They just barely passed their pre Mexican government scare price from late 2023. They still have that negotiation pending, which was a huge catalyst for PAC. Plus, Monterrey is on the cusp of a lot of growth. All that at 14x forward earnings (which are probably understating the business), a gigantic moat, 3-4% dividends.....
55% China tariffs are great for OMAB and Mexican manufacturing.
OMAB May traffic update Total passengers up 6.9% YoY International (high profit) traffic up 19.5% International passengers to Monterrey up 27%
Trimming my top positions ($TTWO, $PAC, $OMAB) for the first time in a while as valuations have gone from very attractive to reasonable. Shifting the cash to some more speculative positions in $SKYH and $PERF. Also still researching $YOU
For me personally, I had the pro-Mexico nearshoring thesis first and then found PAC and OMAB as outstanding businesses that were also exposed to that thesis. I've been aware of CAAP but never understood the Argentinean economic/political situation enough to buy in. But if I liked the country macro setup I'd look at the airports as a great business
I actually haven't heard of that one. I've heard of PAC but never did any research. OMAB is the only one I've put effort into (so far).
I'm up 41% on OMAB and my first buy was only in Jan 2025. It's been killing it.
$PAC and $OMAB closed at ATHs. Airport gang stays winning
I'm partial to airports, OMAB (I own), PAC, and ASR are the Mexican names. CAAP is mostly South America. There are a few others. Absolutely great businesses, with large moats and lots of recurring revenue. Aerospace is another great niche, it sort of gets lumped in with defense since many companies do both.
I think it’ll reach 25-30 in the next year. Yeah different plays in theory but I also already have MELI (again completely different play) giving me latam exposure. Might end up taking profits there and starting my CAAP/OMAB positions. I just don’t like holding too many individual names but I’m also pretty bullish on latam growth.
OMAB is Mexican and they specifically give you exposure to Monterrey which is central to Mexican manufacturing. They have almost no exposure to Mexican tourism (ASUR owns Cancun and PAC owns a few Pacific resort airports). CAAP is mostly South America, specifically Argentina but also a few others. So very different plays, in theory. What's your fair value on CAAP?
Yeah I’m also looking to start a position in CAAP. I know OMAB gives the Mexico exposure which I don’t have in my portfolio but I think CAAP is undervalued. I guess I couldn’t go wrong with owning both
Only OMAB so far. CAAP is my #1 on deck. I'd like to see it below $20 again to enter. $30 is about my fair value though, so it's a really good value, in my opinion.
Curious do you own both CAAP and OMAB?
Goldman Sachs analyst Bruno Amorim maintains Central North Airport Gr (NASDAQ:OMAB) with a Buy and raises the price target from $89 to $106.
Also, OMAB is still negotiating its contract extension. PAC already did theirs and it was good.
Pretty sure that's a new ATH at open for $OMAB, following on the heels of $PAC. More signs of permanent tariffs around the world is a long term benefit for Mexico
Also, their renegotiation with the Mexican government is ongoing. The other airport operators got really good deals, but OMAB hasn't done theirs yet. PAC got a huge bump after they re-upped.
$PAC is comfortably making new all time highs, $OMAB very close. Mexico still winning the global trade war
Yeah. They stopped buybacks recently too, so I assume management knows bad things are going down. In the meantime, I was able to buy OMAB, TOITF, and NBIS with the proceeds. Quite happy.
Using traffic data at [flightaware](https://www.flightaware.com/live/airport/MMMY)...traffic at Monterrey airport is up massively over the last two years. Last year they were running 270-280 operations daily. In late 2024 that jumped to 320-330. In Arpil 202 5 that's jumped to 380-390 daily. OMAB.
I think OMAB is one of the best plays on tariffs. If Mexico comes out of this as a winner, which seems somewhat likely, OMAB is a huge beneficiary of Mexican manufacturing. Also, bonus points if the dollar weakens.
Portfolio was up a pleasant 3.79% in April, led in big part by my dumpster diving throughout the month with NU returning 25%, RKLB at 22%, OMAB at 13%, and SAP at 10%. Also, NTDOY, my beloved, up 22% in April.
~40% of my portfolio has been allocated to the nearshoring theme. I have discussed it on this subreddit a lot over the years. $CP: +.58% YTD (US/Can/Mex railroad) $PAC: +19.03% YTD (Mex airports) $OMAB: +18.04% YTD (Mex airports) $BLX: +5.85% YTD (LatAm trade finance bank) $SPY: -9.36% YTD. $QQQ: -12.18% YTD Market clearly is coming around to what I have said for a while: * Some amount of deglobalization is inevitable, * LatAm (and Mexico specifically) is a necessary trade partner, regardless of US admin rhetoric, * Scaremongering about "Leftists in power in LatAm" is not going to derail the markets Get your portfolios right if you haven't already and say thank you to President Sheinbaum
Amazing how well OMAB is holding up. Market seems to think Mexico is a winner in all this?
Three positions among \~50 that are green: NTDOY, OMAB, and, of course, COST.
Mentioned earlier I'm opening new, partial positions in GOOGL, MSFT, and YETI when the market opens and also adding to my NTDOY position. Watching DDOG, CRWD, SOFI, OMAB, and a bunch of others to see if they fall to price points I like.
Just added to IBKR and TTD. Almost added to CRWD, DDOG, SOFI, and OMAB but want to see each fall 5-10% more before I add shares to those positions.
You own any (PAC, ASR, OMAB)? Haven't come across too many people who do. Definitely a niche area of investing.
OMAB in a 20% drawdown. Yes, please. Just added some more.
I'm looking to add to OMAB if Mexico gets tariffed.
If Canada and Mexico tariffs are re-instated, what Canadian/Mexican stocks are you interested to buy if they dip a good amount? I'm hoping to add more to OMAB.
Alsea up nicely in Mexico, so far OMAB and WALMEX working nicely, still red on Alsea for now
OMAB now +16% for me since Nov. 19th, much faster turn around than I expected. At least the Q dividend got DRIP-ed in low
""Mexican airport operator Grupo Aeroportuario del Centro Norte, reports that terminal passenger traffic at its 13 airports increased 9.9% in November 2024, as compared to November 2023"" - thats why OMAB is up today I believe
I am up 2% overall on OMAB and 20% on PAC Maybe I got in a bit early but all good.
OMAB dividends got reinvested before this nice little rip, feeling good.
Indeed! Alsea had a nice day yesterday, and Im green on OMAB so far contrarian mexico not so painful... yet!
7% dividend for OMAB, am I seeing that right?
CAAP -7% on earnings, might consider opening a position, already in OMAB but CAAP is Argentina exposure which I lack other than MELI
OMAB and ABNB the only things doing anything good for me, thinking about buying more EVVTY still
My picks are: $PAC, $OMAB - airports (good way to bet on growth of the middle class) $CP - freight rail (exposed to US-Mexico trade relationship) $BLX - trade finance (broader bet on LatAm trade via nearshoring)
Very surprised it sold off its earnings pop tbh, figured I would start loading after that. I am in OMAB too recently... along with walmex and alsea. Been moving my speculative US winner $ into value international atm
I am 7% down since I bought, its a 2% position for me though. Might pick up more. Coincidentally I am also down 7% on my OMAB
Began my contrarian long Mexico jaunt today with buys in OMAB, WALMEX, and ALSEA. Also have exposure through MELI and NU as well
Did some mexican reshoring contrarian play DD over the weekend, OMAB, PAC, and GMXT/CP seem to be the simplest plays for industrial leaning airports + main two railroads. You can also long Mexican consumer spending with WALMEX and ALSEA for walmart and dominos/sbux of latam. Still have to do more work, but I am intrigued and also most of the names I looked at where historically cheap vs themselves over last decade
I am sitting on both PAC and OMAB since the last 6 months, OMAB got screwed due to some Whitney parts manufacturer issue that led to less domestic traffic.
EVVTY up bigly OMAB been a loser since purchase for me. I have a little change in my Roth IRA thats just sitting there, tempted to put it in the holy trinity of META, GOOG, AMZN, but one user here has successfully influenced me to wait for the correction haha (I claim full responsibility for my own actions)
Thank you, thats amazing, I read up on it and listened to their most recent call after you commented about it here recently. Took a very small position and up 17%. It helps to see your new purchase be in the green psychologically, on the contrary OMAB went down a 10% when I bought it, it led to a lot of heartache.
I had not actually, only PAC and OMAB pop up in my screener maybe I should relax the criteria a bit. The thing is that I am totally in the blind regarding these airport businesses, i even listened to some of the management interviews for OMAB in Spanish but it all seemed superficial to me and I wasn’t able to understand what the management themselves expect in the future (wrt nearshoring or regulation)
Really nice long form write up and valuation of Nubank (NU), found [here](https://open.substack.com/pub/wolfofharcourtstreet/p/nu-holdings-investment-thesis?utm_source=share&utm_medium=android&r=23ti9i). I recently opened a position on the Mexican election selloff. I continue to think Latin America offers a really amazing growth story. They have some of the best demographics in the world, and a long road towards modernization. Of course, the airport stocks...CAAP for more South America exposure is incredibly cheap (though has emerging market risk) and ASR/OMAB/PAC for a Mexican focus. Of course, the gem of indexes lately has been the NASDAQ (or XLE since the covid lows). Here is a [nice](https://www.thornburg.com/article/2024-outlook-emerging-markets-misunderstood-and-mispriced/#:~:text=Contrary%20to%20recent%20experience%2C%20over,behind%20emerging%20markets%20at%207.83%25.) breakdown of emerging markets vs US equities. If you believe the ZIRP era that drove tech is over, emerging markets present a more interesting story again.
I agree with this thesis and I have been commenting about it for several years, mostly in /r/stocks. My investments are: $CP, $PAC, $OMAB, and $BLX. In my opinion $PAC/$OMAB are the most direct bet on the growth of the Mexican middle class. They have been punished recently because of political interference and the perception that Sheinbaum may continue interfering. $CP offers more safety since it's majority in USA/Canada but by extension the least amount of exposure to specifically Mexican growth. $BLX is a broader bet on LatAm that I think is very intriguing and also offers diversification as a financial. I'm always looking for more options in this vein so curious to see other responses.
I was thinking that Stella Jones SJ.TO would be an interesting play on the power grid upgrade. They make wooden utility poles, which will definitely be needed to handle some upgrades. It's a quietly amazing compounder. Also, I haven't mentioned the Mexican airports in awhile, but PAC is down 10% on the Mexican election results. Might be a decent buying opportunity. ASUR and OMAB are the others.
OMAB, PAC, ASR....most Mexican airports are operated by publicly traded companies.
This is a tough market, there's not a ton of deals out there. I'm looking at IESC or IRMD. I think both are cheap, but not super cheap . I do think the Mexican airports are still cheap (OMAB, PAC), but I also have a big position. NSSC is a decent deal still, IMO. Loaded the boat on that one already though.
Here are some stocks from Mexico’s market, although not all in manufacturing. CX, OMAB, TX (large presence in Mx even though headquartered elsewhere) check them out
Some info about the Mexican airports....heard an interview with Ian Bezek, one of the big airport bulls. There was this exchange: Like you mentioned, there was a sell-off a couple of weeks ago because the government, the full details are now that the government wants to lower tariffs, the fee is about 5% to 8%, which would kind of reverse. In 2020, the airports got higher tariffs to compensate them for COVID, but now it appears that since that has ended, the government wants the rates to go back down. But this was poorly communicated with the market, and so the stocks plunged, and you saw the headlines about socialism and how you can't trust South American markets and all. But I think now that cooler heads have prevailed, they say, oh, well, they kind of did earn more during COVID and it's kind of fair to return to 2019 profit levels. But yeah, I think there's a large opportunity in those names now because they have the lowest valuations aside from March 2020 of the past decade. You get starting in 4% or 5% dividend yields and should be double-digit earnings growth going forward. NB: Right. What was the company there? It's Grupo Aeroporto Del Norte? IB: Yeah, that is, Del Norte (OMAB) is Monterrey and then Pacifico (PAC) is Guadalajara and Tijuana and then Sureste (ASR) is Cancun. NB: And they all sold off if you look at the charts, right. But you think that was overblown and maybe presenting an entry opportunity? IB: Yeah, I would say the government's, what we know publicly that's been reported, I would say that lowered my fair value estimates 10% to 15%, but obviously the stocks dropped quite a bit more than that. So, that's the deal. I'm very interested. My bear case is still still a possible short term travel slowdown, but I'm longer term bullish. Still no position.
Mexican airports stocks (PAC, OMAB, etc) having a hice rebound. I'm still holding off until it gets a little support to confirm a trend.
Isn't NU the one that Berkshire bought a stake in? I've heard they're growth is nuts. I've been looking at the Mexican airports stocks (PAC, OMAB). They just got rocked due to changes in their fee structure, but they still look solid now that the changes were announced.
PAC OMAB ASR are the Mexican Airport operators, I recommend PAC and OMAB
Nice! I passed on LLY because I thought it might be extended, but with a tight stop loss this could have been a great short term trade! ROIV seems to be souring today. I caught CABA and OMAB though. Are you on tradingview by any chance?
Maybe some of the Mexican airports stocks? OMAB, PAC?
Yeah, we definitely have a US bias on here. Also, I think a lot of people here got burned by the high flyer growth names in 2022. It really turned a lot.of people off to them. I remember MELI, SE, and even CPNG getting a lot of attention on 2021. Sadly, I'd love to have more ex-US perspective because there's probably a lot of good buys out there. I have KOF, OMAB, and PAC on my watchlist. That's about it.
OMAB is one that's been climbing my watchlist. Very interesting.
My current positions are: $PAC ~11%, $OMAB ~9%, $CP ~7.7%, and $BLX ~5.8%. PAC/OMAB are both airport operators primarily in Mexico, CP is the new USMCA railroad after the acquisition, and BLX is a really interesting specialty bank funded primarily by South and Central American central banks which primarily provides trade financing for companies in the region. Over the last few quarters I've been shifting exposure from CP to BLX (and will probably keep adding to BLX) since the bank is positively exposed to the rising interest rate environment
I've been eyeing OMAB, and KOF as mexico plays. CLH and CP are some on the north side of the border.
Decided today to sell about a third of my $CP position to continue building a position in $BLX, which I think might be a more direct way to play the nearshoring macro trend. I remain heavily allocated to this macro thesis across the following positions: $PAC ~11% $OMAB ~8.8% $CP ~7.5% (down from ~11.5%) $BLX ~5.8% (up from ~2%) Always interested to hear if anybody else has nearshoring-exposed stocks they prefer.
OMAB stock has been on fire cause of this
That is awesome info, thank you for sharing!! I also own CP, basically on a similar thesis as you. I kinda always brushed off the airport stocks, but they keep popping up on screeners and I finally took a look. I also like the northern Mexico manufacturing areas for growth, so that's really good background info. OMAB might be taking the lead of the three!
Mexico City airport is the only major airport in the country which is publicly owned rather than private. OMAB does operate a hotel at the Mexico City Airport which is the only available exposure across PAC/OMAB/ASR but it's not a huge component of their results. I came to the airports after owning/researching $KSU (now $CP) whose track runs through the Mexican manufacturing heartland. $OMAB is most concentrated to that area primarily bc of about 50% of Rev coming from Monterrey, the key Northern trade city which imo will be the most important growth center for supporting trade with US/Canada. $PAC has Guadalajara but is also more diversified with eg Tijuana/Cabos (more leisure focused travel). $PAC:$OMAB market cap ratio is currently about 2.25:1 but I own them in a ratio closer to 1.4:1 to overweight the Monterrey exposure.
Thanks! Does OMAB also own Mexico City airport? I like the manufacturing areas most actually.
I like Ian Bezek's coverage on Seeking Alpha (don't think I can link there) and am overweight OMAB because of more concentrated exposure to manufacturing areas (particularly Monterrey).
I have owned PAC/OMAB since 2019 and added heavily at the COVID bottom, by far my best picks ever. Outstanding exposure to the regionalization/nearshoring thesis IMO. Careful with ASR tho as it is more exposed to tourism and also gets more % rev outside Mexico (colombia). Happy to discuss in detail at any time.
$OMAB has been falling aggressively these past few days after 4 months of just green every single day. Ominous
Former CEO of American: "I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment." It was a bizarrely popular theme in the last year but imo if you're going to play travel hotels are a far better business. Even airports instead of airlines - OMAB +27% YTD
$OMAB is up 3% today, probably buoyed by the Tesla-Monterrey news. OMAB operates airports across north-central Mexico including the Monterrey Airport which is ~50% of their revenues. If you believe that Mexican industry is destined to be a winner of the ongoing tensions between US and China I still don't see a better option than $PAC/OMAB which are a big chunk of my portfolio, along with $CP rail.
The Mexican airports are all worth owning. I'm long all of them. OMAB/ASR/PAC
$OMAB derives 50% of their revenue from the operation of the Monterrey airport. Monterrey is the heart of US-Mexico trade and one of the fastest growing metro areas in all of the Americas. I have been long $PAC and $OMAB since 2019 and continue to believe they are the best way to play the reshoring trend.