NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:NAS - NO0010196140 - Common Stock
16.955 NOK
-0.22 (-1.25%)
NAS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 15 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
1. Profitability
1.1 Basic Checks
In the past year NAS was profitable.
NAS had a positive operating cash flow in the past year.
NAS had positive earnings in 4 of the past 5 years.
Of the past 5 years NAS 4 years had a positive operating cash flow.
1.2 Ratios
NAS has a better Return On Assets (5.96%) than 80.00% of its industry peers.
NAS has a better Return On Equity (32.55%) than 93.33% of its industry peers.
NAS's Return On Invested Capital of 10.23% is fine compared to the rest of the industry. NAS outperforms 80.00% 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 has a Profit Margin of 6.70%. This is in the better half of the industry: NAS outperforms 66.67% of its industry peers.
NAS's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 9.68%, NAS is in the better half of the industry, outperforming 73.33% 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 73.33% of the companies in the same industry.
In the last couple of years the Gross Margin of NAS has grown nicely.
| 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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NAS is still 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 has been reduced compared to a year ago.
2.2 Solvency
NAS has a debt to FCF ratio of 4.96. This is a neutral value as NAS would need 4.96 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 4.96, NAS is doing good in the industry, outperforming 73.33% of the companies in the same industry.
A Debt/Equity ratio of 1.49 is on the high side and indicates that NAS has dependencies on debt 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/WACC1.15
WACC8.9%
2.3 Liquidity
A Current Ratio of 1.03 indicates that NAS should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.03, NAS belongs to the best of the industry, outperforming 93.33% of the companies in the same industry.
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 has a Quick ratio of 0.99. This is amongst the best in the industry. NAS outperforms 93.33% 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
The Revenue has grown by 13.19% in the past year. This is quite good.
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
Based on estimates for the next years, NAS will show a very strong growth in Earnings Per Share. The EPS will grow by 27.68% on average per year.
NAS is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.27% yearly.
EPS Next Y128.48%
EPS Next 2Y47.28%
EPS Next 3Y34.51%
EPS Next 5Y27.68%
Revenue Next Year6.48%
Revenue Next 2Y6.38%
Revenue Next 3Y5.8%
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 7.92, which indicates a rather cheap valuation of NAS.
NAS's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of NAS to the average of the S&P500 Index (26.28), we can say NAS is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 8.14, the valuation of NAS can be described as reasonable.
NAS's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. NAS is more expensive than 60.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.52, NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.92 | ||
| Fwd PE | 8.14 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NAS is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, NAS is valued a bit cheaper than the industry average as 73.33% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.02 | ||
| EV/EBITDA | 2.53 |
4.3 Compensation for Growth
NAS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of NAS may justify a higher PE ratio.
NAS's earnings are expected to grow with 34.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.06
PEG (5Y)N/A
EPS Next 2Y47.28%
EPS Next 3Y34.51%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
OSL:NAS (12/10/2025, 10:25:24 AM)
16.955
-0.22 (-1.25%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners35.88%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap17.89B
Revenue(TTM)37.35B
Net Income(TTM)2.50B
Analysts78.18
Price Target17.6 (3.8%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
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)2.99%
PT rev (3m)6.15%
EPS NQ rev (1m)0%
EPS NQ rev (3m)178.26%
EPS NY rev (1m)-4.19%
EPS NY rev (3m)10.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.85%
Revenue NY rev (1m)-0.03%
Revenue NY rev (3m)-0.21%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.92 | ||
| Fwd PE | 8.14 | ||
| P/S | 0.48 | ||
| P/FCF | 6.02 | ||
| P/OCF | 2.33 | ||
| P/B | 2.33 | ||
| P/tB | 3.13 | ||
| EV/EBITDA | 2.53 |
EPS(TTM)2.14
EY12.62%
EPS(NY)2.08
Fwd EY12.28%
FCF(TTM)2.82
FCFY16.6%
OCF(TTM)7.29
OCFY42.99%
SpS35.4
BVpS7.28
TBVpS5.42
PEG (NY)0.06
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
WACC8.9%
ROIC/WACC1.15
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 Y128.48%
EPS Next 2Y47.28%
EPS Next 3Y34.51%
EPS Next 5Y27.68%
Revenue 1Y (TTM)13.19%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%5.68%
Revenue Next Year6.48%
Revenue Next 2Y6.38%
Revenue Next 3Y5.8%
Revenue Next 5Y9.27%
EBIT growth 1Y57.72%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year282.29%
EBIT Next 3Y66.9%
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 for NAS stock?
ChartMill assigns a valuation rating of 7 / 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.
Can you provide the financial health for NAS stock?
The financial health rating of NORWEGIAN AIR SHUTTLE AS (NAS.OL) is 4 / 10.
What is the expected EPS growth for NORWEGIAN AIR SHUTTLE AS (NAS.OL) stock?
The Earnings per Share (EPS) of NORWEGIAN AIR SHUTTLE AS (NAS.OL) is expected to grow by 128.48% in the next year.