CAAP vs OMAB: Corporacion America Airports and Grupo Aeroportuario del Centro Norte SAB de CV compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Grupo Aeroportuario del Centro Norte SAB de CV is the larger company, worth $4.3B, close to Corporacion America Airports's $4.0B.
- Corporacion America Airports grew revenue faster over the last year (+6.5% vs +4.3%).
- Grupo Aeroportuario del Centro Norte SAB de CV keeps more of each dollar of revenue as operating profit (53.6% vs 24.9%).
- On earnings, Grupo Aeroportuario del Centro Norte SAB de CV is the cheaper stock (14.2x vs 16.1x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CAAP | OMAB |
|---|---|---|
| Market cap | $4.0B | $4.3B |
| Share price | $24.54 | $90.28 |
| Revenue (last fiscal year) | $2.0B | $15.1B |
| Free cash flow (last fiscal year) | $447M | $5.9B |
| Revenue growth, last year | +6.5% | +4.3% |
| Revenue growth per year, last 5 fiscal years | +29.1% | +29.5% |
| Operating margin | 24.9% | 53.6% |
| Net margin | 12.6% | 32.7% |
| Return on equity | 15.6% | 47.5% |
| P/E (trailing) | 16.1x | 14.2x |
| Price / free cash flow | 8.97x | 0.59x |
| EV / EBITDA | 6.91x | 9.92x |
| FCF growth the price implies | -5.6% | — |
| Dividend yield | — | 6.5% |
| Debt / equity | 1.76x | 1.61x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 1 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Corporacion America Airports
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $707M | $99M | 0.91% |
| 2022 | $1.4B | $293M | 22.1% |
| 2023 | $1.4B | $346M | 38.6% |
| 2024 | $1.8B | $392M | 24.3% |
| 2025 | $2.0B | $447M | 24.9% |
Grupo Aeroportuario del Centro Norte SAB de CV
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $5.4B | $1.1B | 32.1% |
| 2021 | $8.7B | $4.3B | 47.1% |
| 2022 | $11.9B | $4.7B | 50.8% |
| 2023 | $14.5B | $5.9B | 55.8% |
| 2024 | $15.1B | $5.9B | 53.6% |
Where the revenue comes from
Corporacion America Airports · by segments, 2025
Grupo Aeroportuario del Centro Norte SAB de CV
No segment breakdown reported.
Questions
Which is bigger, Corporacion America Airports or Grupo Aeroportuario del Centro Norte SAB de CV?
Grupo Aeroportuario del Centro Norte SAB de CV (OMAB), at $4.3B against $4.0B.
Is CAAP or OMAB cheaper?
By trailing P/E, Grupo Aeroportuario del Centro Norte SAB de CV (14.2x) is cheaper than Corporacion America Airports (16.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, CAAP or OMAB?
Corporacion America Airports: revenue grew +6.5% over the last year, against +4.3%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.