Does Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. have an economic moat?
Likely
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. earns 30.1% a year on the money invested in it and keeps 70% of every sale after production costs, the numbers of a business competitors struggle to copy.
The numbers behind it
Return on invested capital, average of recent years30.1%
Return on invested capital, latest year29.7%
Gross margin70.1%Share of each sale left after production costs
Net margin33.5%
How we decide
A moat shows up in the numbers as high returns that last. We call it likely when the average return on invested capital over recent years is at least 15% and the gross margin at least 40%, and possible from 10%. The numbers can't show where a moat comes from (brand, network, patents), only that one seems to exist.
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Data as of Nov 13, 2026.