Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Bundle
Understanding Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Revenue Streams
Revenue Analysis of Grupo Aeroportuario del Pacífico
In 2023, Grupo Aeroportuario del Pacífico reported total revenues of $14.76 billion Mexican pesos, representing a 13.4% increase from the previous year.
| Revenue Source | 2023 Contribution | Percentage of Total Revenue |
|---|---|---|
| Aeronautical Services | $8.45 billion pesos | 57.2% |
| Commercial Services | $4.62 billion pesos | 31.3% |
| Non-Aeronautical Services | $1.69 billion pesos | 11.5% |
Key revenue segments breakdown:
- Passenger Traffic: 77.4 million passengers in 2023
- International Passenger Segment: 33.6 million passengers
- Domestic Passenger Segment: 43.8 million passengers
Revenue growth by airport region in 2023:
- Pacific Region Airports: 15.2% revenue increase
- Central Mexico Airports: 12.7% revenue increase
- Bajío Region Airports: 16.5% revenue increase
| Airport Group | 2023 Passenger Traffic | Revenue Contribution |
|---|---|---|
| Guadalajara | 22.4 million passengers | $5.12 billion pesos |
| Puerto Vallarta | 10.6 million passengers | $2.87 billion pesos |
| Los Cabos | 8.9 million passengers | $3.45 billion pesos |
A Deep Dive into Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Profitability
Profitability Metrics Analysis
Grupo Aeroportuario del Pacífico's profitability metrics reveal critical financial performance insights for investors.
| Profitability Metric | 2022 Value | 2023 Value |
|---|---|---|
| Gross Profit Margin | 58.3% | 61.7% |
| Operating Profit Margin | 40.2% | 44.5% |
| Net Profit Margin | 29.6% | 33.1% |
Key Profitability Insights
- Revenue growth of 27.4% in 2023
- Operating expenses as percentage of revenue: 17.2%
- Return on Equity (ROE): 18.9%
- Return on Assets (ROA): 12.6%
Operational Efficiency Metrics
| Efficiency Indicator | 2023 Performance |
|---|---|
| Cost of Services Ratio | 41.7% |
| Operating Cost Management | 16.5% year-over-year reduction |
Comparative industry profitability ratios demonstrate competitive positioning with consistent margin expansion.
Debt vs. Equity: How Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Finances Its Growth
Debt vs. Equity Structure Analysis
As of 2024, Grupo Aeroportuario del Pacífico, S.A.B. de C.V. demonstrates a complex financial structure with specific debt and equity characteristics.
| Debt Metric | Value (USD) |
|---|---|
| Total Long-Term Debt | $981.3 million |
| Total Short-Term Debt | $156.7 million |
| Total Shareholders' Equity | $2.43 billion |
| Debt-to-Equity Ratio | 0.46 |
Debt Financing Characteristics
- Current Credit Rating: BBB (Standard & Poor's)
- Average Interest Rate on Debt: 5.2%
- Debt Maturity Profile: Predominantly long-term instruments
Equity Funding Overview
Equity composition includes:
- Institutional Ownership: 62.3%
- Foreign Investor Participation: 47.5%
- Domestic Institutional Investors: 14.8%
Recent Financing Activity
| Financing Event | Amount | Date |
|---|---|---|
| Bond Issuance | $350 million | March 2023 |
| Equity Offering | $275 million | September 2023 |
Assessing Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Liquidity
Liquidity and Solvency Analysis
Liquidity Metrics Overview:
| Liquidity Ratio | 2023 Value | 2022 Value |
|---|---|---|
| Current Ratio | 1.45 | 1.32 |
| Quick Ratio | 1.21 | 1.15 |
| Working Capital | $378.6 million | $342.1 million |
Cash Flow Statement Highlights:
| Cash Flow Category | 2023 Amount |
|---|---|
| Operating Cash Flow | $612.4 million |
| Investing Cash Flow | -$456.7 million |
| Financing Cash Flow | -$155.9 million |
Key Liquidity Strengths:
- Cash and Cash Equivalents: $287.3 million
- Short-term Investments: $142.6 million
- Available Credit Lines: $250 million
Debt Solvency Indicators:
| Debt Metric | 2023 Value |
|---|---|
| Total Debt | $1.2 billion |
| Debt-to-Equity Ratio | 0.65 |
| Interest Coverage Ratio | 4.7 |
Is Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC) Overvalued or Undervalued?
Valuation Analysis: Is the Stock Overvalued or Undervalued?
Current financial metrics provide insights into the company's valuation:
| Valuation Metric | Current Value |
|---|---|
| Price-to-Earnings (P/E) Ratio | 14.3x |
| Price-to-Book (P/B) Ratio | 2.1x |
| Enterprise Value/EBITDA | 9.7x |
| Dividend Yield | 3.2% |
| Payout Ratio | 45% |
Stock price performance analysis reveals:
- 12-month stock price range: $52.30 - $68.75
- Current stock price: $61.45
- Year-to-date performance: +8.3%
Analyst recommendations breakdown:
| Recommendation | Number of Analysts | Percentage |
|---|---|---|
| Buy | 7 | 47% |
| Hold | 6 | 40% |
| Sell | 2 | 13% |
Key Risks Facing Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC)
Risk Factors for Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
The company faces several critical risk dimensions in the airport management and aviation sector:
Operational Risks
- Passenger traffic volatility: -49.3% decline during pandemic period
- Infrastructure maintenance costs estimated at $87.5 million annually
- Potential equipment failure risks in airport operations
Financial Risks
| Risk Category | Potential Impact | Mitigation Strategy |
|---|---|---|
| Currency Fluctuation | ±6.2% exchange rate volatility | Hedging instruments |
| Debt Exposure | $423 million total debt | Refinancing options |
| Interest Rate Risk | 3.75% current rate sensitivity | Fixed-rate agreements |
Regulatory Risks
- Potential aviation policy changes impacting 14.6% of operational revenues
- Environmental compliance requirements
- International safety standard modifications
Market Competitive Risks
Market share competition intensity: 22.3% competitive pressure in current aviation landscape
| Competitive Metric | Current Performance |
|---|---|
| Market Concentration | 37.8% |
| Price Elasticity | 1.4x |
Future Growth Prospects for Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (PAC)
Growth Opportunities
Grupo Aeroportuario del Pacífico's growth potential is anchored in several key strategic dimensions:
Market Expansion Potential
| Airport Location | Passenger Traffic 2023 | Growth Potential |
|---|---|---|
| Guadalajara | 22.4 million | 15.6% |
| Puerto Vallarta | 8.9 million | 12.3% |
| Los Cabos | 5.6 million | 18.2% |
Strategic Growth Initiatives
- Expansion of international route connectivity
- Infrastructure modernization investments of $350 million
- Digital technology integration for passenger experience
Revenue Growth Projections
Projected financial metrics for 2024-2026:
| Year | Revenue Projection | EBITDA Margin |
|---|---|---|
| 2024 | $985 million | 42.5% |
| 2025 | $1.1 billion | 44.2% |
| 2026 | $1.25 billion | 46.7% |
Competitive Advantages
- Dominant market position in 9 Mexican airports
- Strategic geographical coverage
- Advanced technological infrastructure
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