Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) Stock Analysis & Winston Score

Grupo Aeroportuario del Centro Norte, known as OMA, operates 13 airports across northern and central Mexico, including the cities of Monterrey, Chihuahua, and Mazatlán. It serves commercial airlines, cargo carriers, and millions of passengers each year who travel for business and tourism. OMA is one of three major airport groups in Mexico that hold long-term government concessions to run the country's busiest airports. OMA makes money by charging airlines and passengers fees for using its terminals, plus it earns revenue from shops, restaurants, parking, and other services inside its airports. Nearly all of its business is in Mexico, and its government-granted concessions — which run for decades — act as a strong competitive moat since no other company can legally operate those same airports. The key growth driver is rising air travel demand in Mexico, especially from nearshoring trends bringing more business activity to northern Mexico, while the main risk is regulatory pressure on the fees OMA is allowed to charge.