NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
OSL:NAS - Oslo Bors ASA - NO0010196140 - Common Stock - Currency: NOK
Taking everything into account, NAS scores 5 out of 10 in our fundamental rating. NAS was compared to 12 industry peers in the Passenger Airlines industry. NAS has only an average score on both its financial health and profitability. NAS may be a bit undervalued, certainly considering the very reasonable score on growth These ratings could make NAS a good candidate for value investing.
1. Profitability
1.1 Basic Checks
NAS had positive earnings in the past year.
NAS had a positive operating cash flow in the past year.
In multiple years NAS reported negative net income over the last 5 years.
Of the past 5 years NAS 4 years had a positive operating cash flow.
1.2 Ratios
NAS has a Return On Assets of 4.61%. This is in the better half of the industry: NAS outperforms 75.00% of its industry peers.
The Return On Equity of NAS (24.34%) is better than 83.33% of its industry peers.
NAS has a better Return On Invested Capital (7.59%) than 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.61% | ||
| ROE | 24.34% | ||
| ROIC | 7.59% |
ROA(3y)6.69%
ROA(5y)-5.67%
ROE(3y)37.07%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
Looking at the Profit Margin, with a value of 5.24%, NAS is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
NAS's Operating Margin of 6.95% is in line compared to the rest of the industry. NAS outperforms 58.33% of its industry peers.
NAS has a Gross Margin of 51.92%. This is in the better half of the industry: NAS outperforms 66.67% of its industry peers.
In the last couple of years the Gross Margin of NAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.95% | ||
| PM (TTM) | 5.24% | ||
| GM | 51.92% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y11.59%
GM growth 5Y5.66%
2. Health
2.1 Basic Checks
NAS has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
Compared to 1 year ago, NAS has more shares outstanding
Compared to 5 years ago, NAS has more shares outstanding
The debt/assets ratio for NAS is higher compared to a year ago.
2.2 Solvency
NAS has a debt to FCF ratio of 2.17. This is a good value and a sign of high solvency as NAS would need 2.17 years to pay back of all of its debts.
NAS has a Debt to FCF ratio of 2.17. This is amongst the best in the industry. NAS outperforms 83.33% of its industry peers.
A Debt/Equity ratio of 1.43 is on the high side and indicates that NAS has dependencies on debt financing.
With a Debt to Equity ratio value of 1.43, NAS perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
Even though the debt/equity ratio score it not favorable for NAS, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 2.17 | ||
| Altman-Z | N/A |
ROIC/WACC1.15
WACC6.63%
2.3 Liquidity
NAS has a Current Ratio of 1.12. This is a normal value and indicates that NAS is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of NAS (1.12) is better than 100.00% of its industry peers.
NAS has a Quick Ratio of 1.09. This is a normal value and indicates that NAS is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.09, NAS belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.12 | ||
| Quick Ratio | 1.09 |
3. Growth
3.1 Past
NAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 28.30%, which is quite impressive.
The earnings per share for NAS have been decreasing by -62.69% on average. This is quite bad
NAS shows a small growth in Revenue. In the last year, the Revenue has grown by 4.09%.
NAS shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -8.70% yearly.
EPS 1Y (TTM)28.3%
EPS 3YN/A
EPS 5Y-62.69%
EPS Q2Q%-1.66%
Revenue 1Y (TTM)4.09%
Revenue growth 3Y41.08%
Revenue growth 5Y-8.7%
Sales Q2Q%32.11%
3.2 Future
Based on estimates for the next years, NAS will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.38% on average per year.
The Revenue is expected to grow by 14.73% on average over the next years. This is quite good.
EPS Next Y0.44%
EPS Next 2Y8.91%
EPS Next 3Y8.98%
EPS Next 5Y16.38%
Revenue Next Year33.33%
Revenue Next 2Y18.82%
Revenue Next 3Y15.42%
Revenue Next 5Y14.73%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 7.70, the valuation of NAS can be described as very cheap.
NAS's Price/Earnings ratio is rather cheap when compared to the industry. NAS is cheaper than 83.33% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.47. NAS is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 6.54, the valuation of NAS can be described as very cheap.
Based on the Price/Forward Earnings ratio, NAS is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of NAS to the average of the S&P500 Index (92.74), we can say NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.7 | ||
| Fwd PE | 6.54 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NAS is valued cheaper than 83.33% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, NAS is valued cheaper than 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.58 | ||
| EV/EBITDA | 1.82 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NAS does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)17.54
PEG (5Y)N/A
EPS Next 2Y8.91%
EPS Next 3Y8.98%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
NORWEGIAN AIR SHUTTLE AS
OSL:NAS (2/5/2025, 3:41:43 PM)
10.467
-0.12 (-1.16%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners35.5%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap10.09B
Analysts75
Price Target13.86 (32.42%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly Dividend0.01
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)41.26%
Min EPS beat(2)-6.51%
Max EPS beat(2)89.02%
EPS beat(4)2
Avg EPS beat(4)60.07%
Min EPS beat(4)-41.23%
Max EPS beat(4)199.01%
EPS beat(8)4
Avg EPS beat(8)36.62%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.45%
Min Revenue beat(2)-0.58%
Max Revenue beat(2)1.48%
Revenue beat(4)3
Avg Revenue beat(4)4.84%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)15.43%
Revenue beat(8)7
Avg Revenue beat(8)23.28%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-4.4%
PT rev (3m)-6.32%
EPS NQ rev (1m)-145.46%
EPS NQ rev (3m)-600%
EPS NY rev (1m)-15.66%
EPS NY rev (3m)-15.66%
Revenue NQ rev (1m)-6.22%
Revenue NQ rev (3m)-5.41%
Revenue NY rev (1m)-0.66%
Revenue NY rev (3m)-0.66%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.7 | ||
| Fwd PE | 6.54 | ||
| P/S | 0.31 | ||
| P/FCF | 1.58 | ||
| P/OCF | 1.35 | ||
| P/B | 1.42 | ||
| P/tB | 2.25 | ||
| EV/EBITDA | 1.82 |
EPS(TTM)1.36
EY12.99%
EPS(NY)1.6
Fwd EY15.3%
FCF(TTM)6.61
FCFY63.17%
OCF(TTM)7.74
OCFY73.98%
SpS34.24
BVpS7.38
TBVpS4.66
PEG (NY)17.54
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.61% | ||
| ROE | 24.34% | ||
| ROCE | 9.86% | ||
| ROIC | 7.59% | ||
| ROICexc | 14.97% | ||
| ROICexgc | 19.24% | ||
| OM | 6.95% | ||
| PM (TTM) | 5.24% | ||
| GM | 51.92% | ||
| FCFM | 19.31% |
ROA(3y)6.69%
ROA(5y)-5.67%
ROE(3y)37.07%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y11.59%
GM growth 5Y5.66%
F-Score5
Asset Turnover0.88
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 2.17 | ||
| Debt/EBITDA | 1.48 | ||
| Cap/Depr | 23.76% | ||
| Cap/Sales | 3.31% | ||
| Interest Coverage | 2.34 | ||
| Cash Conversion | 108.42% | ||
| Profit Quality | 368.26% | ||
| Current Ratio | 1.12 | ||
| Quick Ratio | 1.09 | ||
| Altman-Z | N/A |
F-Score5
WACC6.63%
ROIC/WACC1.15
Cap/Depr(3y)7.12%
Cap/Depr(5y)7.29%
Cap/Sales(3y)0.95%
Cap/Sales(5y)1.07%
Profit Quality(3y)170.68%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)28.3%
EPS 3YN/A
EPS 5Y-62.69%
EPS Q2Q%-1.66%
EPS Next Y0.44%
EPS Next 2Y8.91%
EPS Next 3Y8.98%
EPS Next 5Y16.38%
Revenue 1Y (TTM)4.09%
Revenue growth 3Y41.08%
Revenue growth 5Y-8.7%
Sales Q2Q%32.11%
Revenue Next Year33.33%
Revenue Next 2Y18.82%
Revenue Next 3Y15.42%
Revenue Next 5Y14.73%
EBIT growth 1Y-24.19%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year235.79%
EBIT Next 3Y58.17%
EBIT Next 5Y46.55%
FCF growth 1Y270.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y200.09%
OCF growth 3YN/A
OCF growth 5Y62.59%