Grupo Aeroportuario Del Pacific (PAC) Stock Price & How to Invest

Grupo Aeroportuario del Pacifico (GAP) operates 12 airports across central and northwestern Mexico plus two in Jamaica, including major hubs like Guadalajara and Tijuana and tourist gateways such as Los Cabos and Puerto Vallarta. Its revenue comes from regulated aeronautical charges (per-passenger tariffs set in five-year cycles), non-aeronautical commercial income (retail, parking, advertising), and construction revenue tied to mandated capital investment. Margins are structurally high because an airport is a local monopoly with mostly fixed costs, which is why EBITDA margins sit near 68 percent.

The investment picture is that of a regulated infrastructure operator rather than a fast grower. Long-run passenger growth, the 2025-2029 maximum-tariff reset, and commercial revenue per passenger drive earnings, while a sizable dividend (yield roughly in the high-4 to low-5 percent range) makes it partly an income holding. Offsetting that are cyclical air-travel swings, mandated capex that consumes cash, currency risk between the Mexican peso and the US dollar, and one-off shocks like hurricanes or regional security events that can dent traffic in a given quarter.

Passenger traffic is cyclical and exposed to shocks: Q1 2026 total traffic fell about 5.5 percent on Hurricane Melissa in Jamaica and security events in Jalisco. Mandated capital investment under the master development plan consumes cash and can pressure free cash flow. As a peso-earning business reported through a dollar ADR, currency swings directly affect returns for US holders. Regulatory risk is real because tariffs, concession terms, and required investment are set by the Mexican government. Concentration in a handful of large airports means any single-hub disruption matters.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Grupo Aeroportuario Del Pacific's investor relations page or your broker.

• Revenue (TTM): ~$2.4B (Ps. ~45B)
• Q1 2026 revenue: ~Ps. 11.4B (+2.8% YoY)
• Q1 2026 EBITDA margin: ~68%
• Market cap: ~$12-14B
• Trailing P/E: ~21x
• Dividend yield: ~4.7-5%

PAC trades like a regulated infrastructure operator: a low-20s trailing P/E and an EV/EBITDA near 12, richer than a pure cyclical because of monopoly economics and a high dividend. Q1 2026 showed revenue up about 2.8 percent and EBITDA up 6.4 percent even as passenger traffic fell 5.5 percent, illustrating how tariff resets and cost control can carry earnings through a soft traffic quarter.

There are three common ways to get PAC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so PAC sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where PAC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

PAC packages regulated, high-margin airport concessions with a heavy dividend into a single ADR, so the story is passenger traffic, tariff resets, and payout durability rather than growth-stock upside.

Whether PAC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PAC a buy?, and where the stock could go from here in the PAC stock forecast.

For income investors, whether PAC pays a dividend and how the payout looks is covered in does PAC pay a dividend?