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PAC

Grupo Aeroportuario del Pacífico, S.A.B. de C.V.

PAC

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. • NYSE
$237.49 ▲ 0.40% (+0.95)
Market Cap $12.00 B
52w High $259.33
52w Low $168.62
Dividend Yield 8.79%
P/E 21.79
Volume 49.47K
Outstanding Shares 50.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $514.085M ▼ $0 ▼ $138.697M ▼ 26.979% ▲ $0 ▼ $287.1M ▼
Q2-2025 $10.882B ▼ $1.18B ▼ $2.655B ▼ 24.399% ▼ $52.6 ▼ $5.503B ▼
Q1-2025 $11.055B ▲ $1.279B ▼ $2.858B ▲ 25.853% ▼ $56.6 ▲ $5.603B ▲
Q4-2024 $2.795B ▼ $3.023B ▲ $2.076B ▲ 74.288% ▲ $41.1 ▲ $4.66B ▲
Q3-2024 $8.233B $788.644M $1.983B 24.085% $39.2 $4.508B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $636.547M ▼ $4.522B ▼ $3.249B ▼ $1.148B ▼
Q2-2025 $9.697B ▼ $77.861B ▼ $56.917B ▲ $18.681B ▼
Q1-2025 $16.228B ▲ $83.911B ▲ $56.579B ▼ $25.045B ▲
Q4-2024 $13.466B ▼ $81.653B ▲ $57.031B ▼ $22.346B ▲
Q3-2024 $15.828B $79.235B $57.799B $20.189B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.696B ▲ $4.264B ▼ $-3.138B ▼ $1.153B ▲ $1.972B ▲ $45.096M ▼
Q2-2025 $2.655B ▼ $4.38B ▼ $-2.423B ▼ $-8.057B ▼ $-6.53B ▼ $3.702B ▲
Q1-2025 $2.858B ▲ $4.477B ▲ $-1.693B ▲ $117.592M ▲ $2.762B ▲ $2.77B ▲
Q4-2024 $2.169B ▲ $4.071B ▲ $-2.714B ▼ $-4.708B ▼ $-2.362B ▼ $1.453B ▲
Q3-2024 $1.983B $3.639B $-2.258B $2.263B $2.34B $1.403B

Five-Year Company Overview

Income Statement

Income Statement PAC’s income statement shows a strong recovery from the pandemic years and a clear step-up in profitability, even though the most recent year eased a bit from a very strong prior year. Revenue has grown sharply over the past few years as travel demand returned, with 2023 looking like a high watermark and 2024 reflecting more normal conditions. Profitability has improved even faster than sales, suggesting better pricing, tight cost control, or richer passenger mix, as gross and operating profits are far higher than before the pandemic. The latest year shows slightly softer earnings than the prior peak, but still clearly above earlier years, indicating a business that is now operating on a structurally higher earnings base with some normal year‑to‑year volatility.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, reflecting ongoing investment in airports and related infrastructure. Total assets have increased each year, while cash balances remain solid, giving PAC flexibility to fund projects and manage shocks. Debt has risen steadily and now represents a much larger share of the capital structure than a few years ago, signaling more financial leverage being used to support growth plans. Equity has also grown again after a small dip earlier in the period, which helps cushion the higher debt load, but the rising leverage is an important risk factor to watch if conditions in air travel weaken.

Cash Flow

Cash Flow Cash generation from the core business has strengthened year after year, a sign that reported earnings are backed by real cash inflows. Operating cash flow now comfortably exceeds pre‑pandemic levels, reflecting both higher traffic and improved efficiency. At the same time, PAC is in a heavy investment phase, with sizable spending on infrastructure projects, which keeps free cash flow positive but somewhat uneven from year to year. Overall, the company appears to be self‑funding much of its growth while also drawing on more debt, balancing strong internal cash generation with an ambitious capital program.

Competitive Edge

Competitive Edge PAC operates under long‑term government concessions for a portfolio of key Mexican airports plus assets in Jamaica, which creates a strong protective barrier against new competitors. It is one of the largest airport operators in Mexico, giving it meaningful scale advantages in operations, purchasing, and negotiations with airlines and retailers. Its airports span major cities, tourism hubs, and developing regions, which spreads risk across different demand drivers and helps smooth performance when one segment slows. Unique assets like the cross‑border terminal in Tijuana, along with continued expansion and modernization, further reinforce its role as critical infrastructure and make its network difficult to replicate.

Innovation and R&D

Innovation and R&D Innovation at PAC is less about traditional R&D spending and more about applying technology and design to improve efficiency and passenger spending. Partnerships with technology providers support shared check‑in systems, self‑service kiosks, and other tools that make it easier for airlines to operate and for passengers to move through terminals. The company is experimenting with virtual reality and neuromarketing to refine the layout and mix of shops and restaurants, aiming to increase comfort and commercial revenue per traveler. Its multi‑year development plan embeds modern systems in new terminals and runways, and ongoing digital initiatives around automation and customer experience should gradually deepen its operational moat.

Summary

PAC has transitioned from a pandemic‑hit operator to a structurally stronger business with higher earnings and cash generation, though the latest year shows a step down from an exceptional prior period. The balance sheet reflects a deliberate shift toward more debt‑funded growth, which supports its large investment pipeline but raises sensitivity to interest costs and downturns. Cash flows demonstrate that the underlying business is robust and capable of supporting sizable capital projects. Strategically, the company benefits from long‑term concessions, network scale, diversified airport locations, and some unique assets, all of which create a durable competitive position. Its focus on technology, commercial design, and large‑scale expansion projects suggests a clear growth agenda, with the main watch points being execution risk on investments and the higher leverage that now underpins this strategy.

NEWS

November 7, 2025 · 6:22 PM UTC

Grupo Aeroportuario del Pacifico Reports a Passenger Traffic Decrease In October 2025 of 0.8% Compared to 2024

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October 31, 2025 · 6:13 PM UTC

Grupo Aeroportuario del Pacifico Provides Update on Operations in Montego Bay Following Hurricane Melissa

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October 29, 2025 · 10:39 PM UTC

Grupo Aeroportuario del Pacifico Provides Update on the Impact of Hurricane Melissa in Jamaica

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October 28, 2025 · 8:15 PM UTC

Grupo Aeroportuario del Pacifico Reports Impacts from Hurricane Melissa in Jamaica

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October 20, 2025 · 9:12 PM UTC

Grupo Aeroportuario del Pacifico Announces Results for the Third Quarter of 2025

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