NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:NAS - NO0010196140 - Common Stock
16.075 NOK
-0.3 (-1.86%)
NAS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 18 industry peers in the Passenger Airlines industry. NAS has an average financial health and profitability rating. NAS is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
- NAS had positive earnings in the past year.
- In the past year NAS had a positive cash flow from operations.
- Of the past 5 years NAS 4 years were profitable.
- NAS had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- The Return On Assets of NAS (5.96%) is better than 77.78% of its industry peers.
- NAS's Return On Equity of 32.55% is fine compared to the rest of the industry. NAS outperforms 72.22% of its industry peers.
- NAS has a Return On Invested Capital of 10.23%. This is in the better half of the industry: NAS outperforms 77.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.96% | ||
| ROE | 32.55% | ||
| ROIC | 10.23% |
ROA(3y)4.57%
ROA(5y)-4.57%
ROE(3y)24.24%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- NAS's Profit Margin of 6.70% is fine compared to the rest of the industry. NAS outperforms 66.67% of its industry peers.
- In the last couple of years the Profit Margin of NAS has declined.
- Looking at the Operating Margin, with a value of 9.68%, NAS is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
- NAS's Operating Margin has improved in the last couple of years.
- With a decent Gross Margin value of 52.55%, NAS is doing good in the industry, outperforming 61.11% of the companies in the same industry.
- NAS's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.68% | ||
| PM (TTM) | 6.7% | ||
| GM | 52.55% |
OM growth 3YN/A
OM growth 5Y26.07%
PM growth 3Y-52.98%
PM growth 5YN/A
GM growth 3Y29.93%
GM growth 5Y4.87%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NAS is creating some value.
- The number of shares outstanding for NAS has been increased compared to 1 year ago.
- The number of shares outstanding for NAS has been increased compared to 5 years ago.
- Compared to 1 year ago, NAS has an improved debt to assets ratio.
2.2 Solvency
- The Debt to FCF ratio of NAS is 4.96, which is a neutral value as it means it would take NAS, 4.96 years of fcf income to pay off all of its debts.
- With a decent Debt to FCF ratio value of 4.96, NAS is doing good in the industry, outperforming 66.67% of the companies in the same industry.
- NAS has a Debt/Equity ratio of 1.49. This is a high value indicating a heavy dependency on external financing.
- NAS has a Debt to Equity ratio (1.49) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.49 | ||
| Debt/FCF | 4.96 | ||
| Altman-Z | N/A |
ROIC/WACC1.08
WACC9.45%
2.3 Liquidity
- A Current Ratio of 1.03 indicates that NAS should not have too much problems paying its short term obligations.
- NAS has a Current ratio of 1.03. This is amongst the best in the industry. NAS outperforms 88.89% of its industry peers.
- NAS has a Quick Ratio of 1.03. This is a bad value and indicates that NAS is not financially healthy enough and could expect problems in meeting its short term obligations.
- NAS's Quick ratio of 0.99 is amongst the best of the industry. NAS outperforms 88.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.99 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 57.35% over the past year.
- The earnings per share for NAS have been decreasing by -23.42% on average. This is quite bad
- NAS shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.19%.
- Measured over the past years, NAS shows a decrease in Revenue. The Revenue has been decreasing by -4.09% on average per year.
EPS 1Y (TTM)57.35%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%35.39%
Revenue 1Y (TTM)13.19%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%5.68%
3.2 Future
- NAS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 27.68% yearly.
- Based on estimates for the next years, NAS will show a quite strong growth in Revenue. The Revenue will grow by 9.27% on average per year.
EPS Next Y139.12%
EPS Next 2Y49.19%
EPS Next 3Y36.44%
EPS Next 5Y27.68%
Revenue Next Year6.76%
Revenue Next 2Y6.48%
Revenue Next 3Y5.95%
Revenue Next 5Y9.27%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 7.51, which indicates a rather cheap valuation of NAS.
- NAS's Price/Earnings ratio is a bit cheaper when compared to the industry. NAS is cheaper than 61.11% of the companies in the same industry.
- NAS is valuated cheaply when we compare the Price/Earnings ratio to 27.47, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 7.52 indicates a rather cheap valuation of NAS.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of NAS is on the same level as its industry peers.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.26, NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.51 | ||
| Fwd PE | 7.52 |
4.2 Price Multiples
- NAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. NAS is cheaper than 83.33% of the companies in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of NAS indicates a rather cheap valuation: NAS is cheaper than 83.33% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.71 | ||
| EV/EBITDA | 2.43 |
4.3 Compensation for Growth
- The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- NAS has a very decent profitability rating, which may justify a higher PE ratio.
- NAS's earnings are expected to grow with 36.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.05
PEG (5Y)N/A
EPS Next 2Y49.19%
EPS Next 3Y36.44%
5. Dividend
5.1 Amount
- No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
OSL:NAS (1/16/2026, 7:00:00 PM)
16.075
-0.3 (-1.86%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)10-22 2025-10-22/bmo
Earnings (Next)02-13 2026-02-13/amc
Inst Owners45.6%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap16.96B
Revenue(TTM)37.35B
Net Income(TTM)2.50B
Analysts76.36
Price Target18.67 (16.14%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.34%
Min EPS beat(2)16.82%
Max EPS beat(2)27.86%
EPS beat(4)3
Avg EPS beat(4)0.11%
Min EPS beat(4)-52.76%
Max EPS beat(4)27.86%
EPS beat(8)5
Avg EPS beat(8)30.09%
EPS beat(12)7
Avg EPS beat(12)24.45%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.43%
Min Revenue beat(2)-0.15%
Max Revenue beat(2)1.01%
Revenue beat(4)3
Avg Revenue beat(4)1.82%
Min Revenue beat(4)-0.15%
Max Revenue beat(4)4.79%
Revenue beat(8)6
Avg Revenue beat(8)3.33%
Revenue beat(12)10
Avg Revenue beat(12)16.13%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)6.15%
EPS NQ rev (1m)0%
EPS NQ rev (3m)178.26%
EPS NY rev (1m)4.66%
EPS NY rev (3m)19.83%
Revenue NQ rev (1m)1.06%
Revenue NQ rev (3m)1.92%
Revenue NY rev (1m)0.26%
Revenue NY rev (3m)0.19%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.51 | ||
| Fwd PE | 7.52 | ||
| P/S | 0.45 | ||
| P/FCF | 5.71 | ||
| P/OCF | 2.21 | ||
| P/B | 2.21 | ||
| P/tB | 2.97 | ||
| EV/EBITDA | 2.43 |
EPS(TTM)2.14
EY13.31%
EPS(NY)2.14
Fwd EY13.29%
FCF(TTM)2.82
FCFY17.51%
OCF(TTM)7.29
OCFY45.34%
SpS35.4
BVpS7.28
TBVpS5.42
PEG (NY)0.05
PEG (5Y)N/A
Graham Number18.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.96% | ||
| ROE | 32.55% | ||
| ROCE | 13.29% | ||
| ROIC | 10.23% | ||
| ROICexc | 16.68% | ||
| ROICexgc | 18.9% | ||
| OM | 9.68% | ||
| PM (TTM) | 6.7% | ||
| GM | 52.55% | ||
| FCFM | 7.95% |
ROA(3y)4.57%
ROA(5y)-4.57%
ROE(3y)24.24%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y60.91%
ROICexc growth 3YN/A
ROICexc growth 5Y59.71%
OM growth 3YN/A
OM growth 5Y26.07%
PM growth 3Y-52.98%
PM growth 5YN/A
GM growth 3Y29.93%
GM growth 5Y4.87%
F-Score6
Asset Turnover0.89
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.49 | ||
| Debt/FCF | 4.96 | ||
| Debt/EBITDA | 1.48 | ||
| Cap/Depr | 113.77% | ||
| Cap/Sales | 12.64% | ||
| Interest Coverage | 3.39 | ||
| Cash Conversion | 99.03% | ||
| Profit Quality | 118.76% | ||
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.99 | ||
| Altman-Z | N/A |
F-Score6
WACC9.45%
ROIC/WACC1.08
Cap/Depr(3y)15.75%
Cap/Depr(5y)9.82%
Cap/Sales(3y)2.09%
Cap/Sales(5y)1.38%
Profit Quality(3y)307.13%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)57.35%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%35.39%
EPS Next Y139.12%
EPS Next 2Y49.19%
EPS Next 3Y36.44%
EPS Next 5Y27.68%
Revenue 1Y (TTM)13.19%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%5.68%
Revenue Next Year6.76%
Revenue Next 2Y6.48%
Revenue Next 3Y5.95%
Revenue Next 5Y9.27%
EBIT growth 1Y57.72%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year282.93%
EBIT Next 3Y66.97%
EBIT Next 5Y45.55%
FCF growth 1Y-38.58%
FCF growth 3Y256.62%
FCF growth 5Y21.9%
OCF growth 1Y75.78%
OCF growth 3Y268.24%
OCF growth 5Y17.99%
NORWEGIAN AIR SHUTTLE AS / NAS.OL FAQ
Can you provide the ChartMill fundamental rating for NORWEGIAN AIR SHUTTLE AS?
ChartMill assigns a fundamental rating of 5 / 10 to NAS.OL.
What is the valuation status of NORWEGIAN AIR SHUTTLE AS (NAS.OL) stock?
ChartMill assigns a valuation rating of 9 / 10 to NORWEGIAN AIR SHUTTLE AS (NAS.OL). This can be considered as Undervalued.
Can you provide the profitability details for NORWEGIAN AIR SHUTTLE AS?
NORWEGIAN AIR SHUTTLE AS (NAS.OL) has a profitability rating of 6 / 10.
What is the earnings growth outlook for NORWEGIAN AIR SHUTTLE AS?
The Earnings per Share (EPS) of NORWEGIAN AIR SHUTTLE AS (NAS.OL) is expected to grow by 139.12% in the next year.