NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
OSL:NAS - Euronext Oslo - 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
1. Profitability
1.1 Basic Checks
In the past year NAS was profitable.
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
NAS has a Return On Assets of 3.83%. This is in the better half of the industry: NAS outperforms 66.67% of its industry peers.
NAS's Return On Equity of 24.42% is amongst the best of the industry. NAS outperforms 83.33% of its industry peers.
NAS has a Return On Invested Capital of 7.09%. This is in the better half of the industry: NAS outperforms 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 24.42% | ||
| ROIC | 7.09% |
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 (4.20%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of NAS has declined.
NAS has a Operating Margin (5.66%) which is in line with its industry peers.
In the last couple of years the Operating Margin of NAS has grown nicely.
NAS has a better Gross Margin (51.61%) than 75.00% of its industry peers.
NAS's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5.66% | ||
| PM (TTM) | 4.2% | ||
| GM | 51.61% |
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
NAS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for NAS has been increased compared to 1 year ago.
NAS has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, NAS has an improved debt to assets ratio.
2.2 Solvency
NAS has a debt to FCF ratio of 4.16. This is a neutral value as NAS would need 4.16 years to pay back of all of its debts.
NAS has a better Debt to FCF ratio (4.16) than 83.33% of its industry peers.
A Debt/Equity ratio of 1.70 is on the high side and indicates that NAS has dependencies on debt financing.
With a Debt to Equity ratio value of 1.70, NAS perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 4.16 | ||
| Altman-Z | N/A |
ROIC/WACC0.85
WACC8.33%
2.3 Liquidity
A Current Ratio of 0.88 indicates that NAS may have some problems paying its short term obligations.
NAS has a Current ratio of 0.88. This is amongst the best in the industry. NAS outperforms 91.67% of its industry peers.
NAS has a Quick Ratio of 0.88. This is a bad value and indicates that NAS is not financially healthy enough and could expect problems in meeting its short term obligations.
With an excellent Quick ratio value of 0.85, NAS belongs to the best of the industry, outperforming 91.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
The earnings per share for NAS have decreased strongly by -23.45% in the last year.
NAS shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -23.42% yearly.
Looking at the last year, NAS shows a very strong growth in Revenue. The Revenue has grown by 29.04%.
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)-23.45%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%15.46%
Revenue 1Y (TTM)29.04%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%7.12%
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 25.63% on average per year.
NAS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.04% yearly.
EPS Next Y82.1%
EPS Next 2Y38.97%
EPS Next 3Y26.79%
EPS Next 5Y25.63%
Revenue Next Year2.95%
Revenue Next 2Y6.51%
Revenue Next 3Y6.1%
Revenue Next 5Y6.04%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 13.16, NAS is valued correctly.
Based on the Price/Earnings ratio, NAS is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of NAS to the average of the S&P500 Index (27.45), we can say NAS is valued rather cheaply.
NAS is valuated cheaply with a Price/Forward Earnings ratio of 7.88.
Based on the Price/Forward Earnings ratio, NAS is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 21.90. NAS is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.16 | ||
| Fwd PE | 7.88 |
4.2 Price Multiples
NAS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NAS is cheaper than 75.00% 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 | 4.58 | ||
| EV/EBITDA | 2.76 |
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 26.79% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.16
PEG (5Y)N/A
EPS Next 2Y38.97%
EPS Next 3Y26.79%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
OSL:NAS (7/4/2025, 7:00:00 PM)
14.605
+0.01 (+0.07%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners35.23%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap15.29B
Analysts75
Price Target14.79 (1.27%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
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)-22.12%
Min EPS beat(2)-52.76%
Max EPS beat(2)8.52%
EPS beat(4)2
Avg EPS beat(4)9.57%
Min EPS beat(4)-52.76%
Max EPS beat(4)89.02%
EPS beat(8)4
Avg EPS beat(8)23.48%
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)2
Avg Revenue beat(2)3.21%
Min Revenue beat(2)1.64%
Max Revenue beat(2)4.79%
Revenue beat(4)3
Avg Revenue beat(4)1.83%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)4.79%
Revenue beat(8)7
Avg Revenue beat(8)3.49%
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)-0.43%
PT rev (3m)8.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)26.36%
EPS NY rev (1m)0%
EPS NY rev (3m)12.43%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)14.18%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.16 | ||
| Fwd PE | 7.88 | ||
| P/S | 0.43 | ||
| P/FCF | 4.58 | ||
| P/OCF | 2.15 | ||
| P/B | 2.49 | ||
| P/tB | 4.1 | ||
| EV/EBITDA | 2.76 |
EPS(TTM)1.11
EY7.6%
EPS(NY)1.85
Fwd EY12.69%
FCF(TTM)3.19
FCFY21.84%
OCF(TTM)6.81
OCFY46.6%
SpS34.15
BVpS5.87
TBVpS3.56
PEG (NY)0.16
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 24.42% | ||
| ROCE | 9.21% | ||
| ROIC | 7.09% | ||
| ROICexc | 13.53% | ||
| ROICexgc | 17.13% | ||
| OM | 5.66% | ||
| PM (TTM) | 4.2% | ||
| GM | 51.61% | ||
| FCFM | 9.34% |
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
ROICexcg growth 3YN/A
ROICexcg 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 Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 4.16 | ||
| Debt/EBITDA | 1.63 | ||
| Cap/Depr | 86.24% | ||
| Cap/Sales | 10.59% | ||
| Interest Coverage | 1.92 | ||
| Cash Conversion | 111.1% | ||
| Profit Quality | 222.36% | ||
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.85 | ||
| Altman-Z | N/A |
F-Score6
WACC8.33%
ROIC/WACC0.85
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)-23.45%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%15.46%
EPS Next Y82.1%
EPS Next 2Y38.97%
EPS Next 3Y26.79%
EPS Next 5Y25.63%
Revenue 1Y (TTM)29.04%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%7.12%
Revenue Next Year2.95%
Revenue Next 2Y6.51%
Revenue Next 3Y6.1%
Revenue Next 5Y6.04%
EBIT growth 1Y-15.15%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year262.27%
EBIT Next 3Y66.54%
EBIT Next 5Y46.13%
FCF growth 1Y-9.69%
FCF growth 3Y256.62%
FCF growth 5Y21.9%
OCF growth 1Y81.2%
OCF growth 3Y268.24%
OCF growth 5Y17.99%