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The Trend Of High Returns At Grupo Aeroportuario del Centro Norte. de (BMV:OMAB) Has Us Very Interested
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Grupo Aeroportuario del Centro Norte. de's (BMV:OMAB) returns on capital, so let's have a look.
Understanding Return On Capital Employed (ROCE)
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Grupo Aeroportuario del Centro Norte. de is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.36 = Mex$9.0b ÷ (Mex$32b - Mex$6.7b) (Based on the trailing twelve months to September 2025).
So, Grupo Aeroportuario del Centro Norte. de has an ROCE of 36%. That's a fantastic return and not only that, it outpaces the average of 8.5% earned by companies in a similar industry.
Check out our latest analysis for Grupo Aeroportuario del Centro Norte. de
Above you can see how the current ROCE for Grupo Aeroportuario del Centro Norte. de compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Grupo Aeroportuario del Centro Norte. de .
What Does the ROCE Trend For Grupo Aeroportuario del Centro Norte. de Tell Us?
Grupo Aeroportuario del Centro Norte. de is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 36%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 88%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
Our Take On Grupo Aeroportuario del Centro Norte. de's ROCE
In summary, it's great to see that Grupo Aeroportuario del Centro Norte. de can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Since the stock has returned a staggering 166% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
Grupo Aeroportuario del Centro Norte. de does have some risks though, and we've spotted 2 warning signs for Grupo Aeroportuario del Centro Norte. de that you might be interested in.
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.