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Grupo Aeroportuario Del Pacifico (PAC)
NYSE:PAC
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Grupo Aeroportuario del Pacifico
(NYSE:PAC)
78Outperform
Grupo Aeroportuario del Pacifico (PAC) vs. S&P 500 (SPY)
Market Cap
$9.38B
Dividend Yield3.91%
Average Volume (3M)87.58K
Price to Earnings (P/E)19.5
Beta (1Y)1.69
Revenue Growth6.58%
EPS Growth-0.41%
CountryUS
Employees2,688
SectorIndustrials
Sector Strength69
IndustryTransportation
Share Statistics
EPS (TTM)9.43
Shares Outstanding43,545,635
10 Day Avg. Volume83,819
30 Day Avg. Volume87,582
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)5.68
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$207.50Price Target Upside13.23% Upside
Rating ConsensusHold
Number of Analyst Covering2
Grupo Aeroportuario del Pacifico Business Overview & Revenue Model
Company DescriptionGrupo Aeroportuario del Pacífico SAB de CV engages in the operation of a international airports in Mexico and Jamaica. It operates through the following segments: Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, Montego Bay, Hermosillo, Bajío, and Other Airports. The company was founded on May 28, 1998 and is headquartered in Guadalajara, Mexico.
How the Company Makes MoneyGrupo Aeroportuario del Pacífico (PAC) generates revenue primarily through three key streams: aeronautical services, non-aeronautical services, and commercial services. Aeronautical revenues come from fees charged to airlines for the use of airport facilities and services, such as landing, parking, and passenger fees. Non-aeronautical revenues are derived from services provided within the airport, including parking, leasing of space to retailers, and advertising. Additionally, commercial services generate income through the operation of duty-free shops, food and beverage outlets, and other retail offerings. The company also benefits from strategic partnerships with airlines and concessionaires, enhancing its service offerings and revenue potential.
Grupo Aeroportuario del Pacifico Financial Statement Overview
Summary
Grupo Aeroportuario del Pacifico shows a robust financial position with strong profitability, no debt, and high margins. The balance sheet's strength is highlighted by a debt-to-equity ratio of 0.0, and the cash flow is solid with a high free cash flow growth rate. However, a slight revenue decline needs attention for future growth.Income Statement
The company shows strong profitability with a gross profit margin of 54.46% and a robust net profit margin of 26.61% for TTM. Despite a slight decrease in revenue compared to the previous year, the EBIT and EBITDA margins remain high at 44.29% and 52.75%, respectively, indicating efficient cost management.85
Very Positive
Balance Sheet
The balance sheet is very solid with a debt-free status in the TTM period, resulting in a debt-to-equity ratio of 0.0, which significantly improves financial stability. The equity ratio stands at 25.48%, and the return on equity is a strong 43.64%, reflecting efficient use of equity capital.90
Very Positive
Cash Flow
The company demonstrates strong cash flow generation, with a free cash flow growth rate of 118.54%. The operating cash flow to net income ratio is 1.78, indicating healthy cash conversion from profits, while the free cash flow to net income ratio is 0.87, supporting liquidity and potential for reinvestment.80
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 33.12B | 33.22B | 27.38B | 19.01B | 11.87B | 16.23B | Gross Profit |
| 18.04B | 19.41B | 14.54B | 9.38B | 4.10B | 8.48B | EBIT |
| 14.67B | 15.14B | 13.81B | 8.86B | 3.82B | 8.02B | EBITDA |
| 17.47B | 18.68B | 16.10B | 10.90B | 5.82B | 10.28B | Net Income Common Stockholders |
| 8.82B | 9.54B | 9.01B | 6.00B | 1.97B | 5.53B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 10.06B | 10.06B | 12.37B | 13.33B | 14.44B | 7.50B | Total Assets |
| 67.44B | 67.44B | 60.51B | 55.32B | 51.36B | 41.58B | Total Debt |
| 40.62B | 40.62B | 34.41B | 27.92B | 24.38B | 16.47B | Net Debt |
| 30.57B | 30.57B | 22.04B | 14.59B | 9.94B | 8.97B | Total Liabilities |
| 46.50B | 46.50B | 40.68B | 34.89B | 28.51B | 20.91B | Stockholders Equity |
| 19.78B | 19.78B | 18.64B | 19.29B | 21.79B | 19.63B |
| Cash Flow | Free Cash Flow | ||||
| 7.63B | 3.49B | 4.09B | 6.15B | 406.46M | 5.59B | Operating Cash Flow |
| 15.66B | 13.93B | 12.52B | 11.10B | 3.57B | 8.16B | Investing Cash Flow |
| -8.87B | -11.09B | -8.48B | -4.97B | -3.22B | -2.59B | Financing Cash Flow |
| -5.26B | -4.79B | -4.93B | -7.35B | 6.29B | -4.23B |
Grupo Aeroportuario del Pacifico Technical Analysis
Negative
183.25
Price Trends
188.81
Negative
184.18
Negative
173.44
Positive
Market Momentum
-1.84
Positive
42.92
Neutral
26.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAC, the sentiment is Negative. The current price of 183.25 is below the 20-day moving average (MA) of 192.22, below the 50-day MA of 188.81, and above the 200-day MA of 173.44, indicating a neutral trend. The MACD of -1.84 indicates Positive momentum. The RSI at 42.92 is Neutral, neither overbought nor oversold. The STOCH value of 26.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PAC.
Grupo Aeroportuario del Pacifico Risk Analysis
Grupo Aeroportuario del Pacifico disclosed 64 risk factors in its most recent earnings report. Grupo Aeroportuario del Pacifico reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grupo Aeroportuario del Pacifico Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $9.38B | 19.54 | 42.32% | 3.91% | 6.58% | -0.41% | |
76 Outperform | $3.57B | 13.13 | 50.41% | 5.69% | 4.81% | 4.54% | |
76 Outperform | $7.71B | 10.41 | 28.24% | 2.25% | 15.20% | 27.69% | |
62 Neutral | $8.17B | 12.83 | 0.26% | 3.07% | 3.83% | -16.44% |
* Industrials Sector Average
Performance Comparison
PAC
Grupo Aeroportuario del Pacifico
183.25
40.33
28.22%
OMAB
Grupo Aeroportuario Del Centro
74.40
8.82
13.45%
ASR
Grupo Aeroportuario del Sureste
259.00
-39.34
-13.19%
Grupo Aeroportuario del Pacifico Earnings Call Summary
Earnings Call Date: Feb 20, 2025 | % Change Since: -9.04% | Next Earnings Date: Apr 24, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong performance in commercial revenue growth and a solid financial position, despite challenges with passenger traffic and increased operational expenses. While there are significant achievements, the issues with engine inspections and revenue declines present notable challenges.Highlights
Master Development Plan Approval
Approval of the 2025-2029 Master Development Plan for 12 Mexican airports, including a CapEx commitment of MXN 43.2 billion, with 40% invested in terminal buildings.
Commercial Revenue Growth
An exceptional 39% increase in non-aeronautical revenues driven by strategic expansion and business acquisitions.
Strong Financial Position
Maintained a healthy balance sheet with cash and cash equivalents totaling MXN 15.8 billion and a net debt-to-EBITDA ratio of 1.8x.
Cargo Business Performance
Cargo and freight flight facility consolidation contributed MXN 354 million to non-aeronautical revenue with EBITDA margins expected to reach 50-55%.
Lowlights
Passenger Traffic Decline
A 5.7% decline in passenger traffic due to ongoing inspections of Pratt & Whitney engines.
Aeronautical Revenue Decline
Aeronautical revenue declined by 3.8% due to lower passenger traffic and reaching only about 94% of the maximum tariff.
Operational Expenses Increase
Operational expenses increased by 21% due to consolidation of cargo business, employee-related expenses, and inflationary pressures.
Company Guidance
During the Q3 2024 earnings call for Grupo Aeroportuario del Pacifico (GAP), key metrics and guidance were discussed by executives. The company announced a total CapEx commitment of MXN 43.2 billion over five years, with 40% allocated to terminal buildings and a forecasted 54% increase in terminal space. The gradual implementation of a new tariff will span 15 months, reaching full implementation by January 2026. Despite a 5.7% decline in passenger traffic due to Pratt & Whitney engine inspections, non-aeronautical revenues surged by 39%, driven by strategic expansions and acquisitions, including a cargo facility contributing MXN 354 million. The company's EBITDA margin remained solid at 67%, with a net debt-to-EBITDA ratio of 1.8x. Growth projections for the following year anticipate a 5% increase in traffic, with full recovery from the engine recall expected by December 2026.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.