NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
Europe - OSL:NAS - NO0010196140 - Common Stock
16.37 NOK
+0.02 (+0.09%)
NAS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 12 industry peers in the Passenger Airlines industry. Both the profitability and the financial health of NAS get a neutral evaluation. Nothing too spectacular is happening here. NAS is valued quite cheap, while showing a decent growth score. This is a good combination! This makes NAS very considerable for value investing!
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.
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 Return On Assets of 4.43%. This is in the better half of the industry: NAS outperforms 75.00% of its industry peers.
With an excellent Return On Equity value of 33.08%, NAS belongs to the best of the industry, outperforming 91.67% of the companies in the same industry.
With a Return On Invested Capital value of 7.87%, NAS perfoms like the industry average, outperforming 41.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.43% | ||
| ROE | 33.08% | ||
| ROIC | 7.87% |
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 5.33% 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.
With a decent Operating Margin value of 7.30%, NAS is doing good in the industry, outperforming 66.67% of the companies in the same industry.
NAS's Operating Margin has improved in the last couple of years.
NAS has a better Gross Margin (52.12%) than 75.00% of its industry peers.
In the last couple of years the Gross Margin of NAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.3% | ||
| PM (TTM) | 5.33% | ||
| GM | 52.12% |
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.
NAS has more shares outstanding than it did 1 year ago.
The number of shares outstanding for NAS has been increased compared to 5 years ago.
The debt/assets ratio for NAS has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of NAS is 3.54, which is a good value as it means it would take NAS, 3.54 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.54, NAS belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
NAS has a Debt/Equity ratio of 1.98. This is a high value indicating a heavy dependency on external financing.
NAS has a Debt to Equity ratio of 1.98. This is comparable to the rest of the industry: NAS outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 3.54 | ||
| Altman-Z | N/A |
ROIC/WACC0.91
WACC8.68%
2.3 Liquidity
NAS has a Current Ratio of 1.08. 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 Current ratio, with a value of 1.08, NAS belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
A Quick Ratio of 1.06 indicates that NAS should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.06, NAS belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.06 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 8.63% over the past year.
Measured over the past years, NAS shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -23.42% on average per year.
The Revenue has grown by 21.58% in the past year. This is a very strong growth!
NAS shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -4.09% yearly.
EPS 1Y (TTM)8.63%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%95.24%
Revenue 1Y (TTM)21.58%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%10.08%
3.2 Future
The Earnings Per Share is expected to grow by 23.46% on average over the next years. This is a very strong growth
Based on estimates for the next years, NAS will show a small growth in Revenue. The Revenue will grow by 5.40% on average per year.
EPS Next Y107.26%
EPS Next 2Y44.88%
EPS Next 3Y37%
EPS Next 5Y23.46%
Revenue Next Year6.64%
Revenue Next 2Y6.49%
Revenue Next 3Y6.54%
Revenue Next 5Y5.4%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
A Price/Earnings ratio of 10.84 indicates a reasonable valuation of NAS.
Based on the Price/Earnings ratio, NAS is valued a bit more expensive than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.20, NAS is valued rather cheaply.
The Price/Forward Earnings ratio is 8.12, which indicates a very decent valuation of NAS.
NAS's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. NAS is more expensive than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.71, NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.84 | ||
| Fwd PE | 8.12 |
4.2 Price Multiples
75.00% of the companies in the same industry are more expensive than NAS, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, NAS is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.13 | ||
| EV/EBITDA | 2.41 |
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.
NAS has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as NAS's earnings are expected to grow with 37.00% in the coming years.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y44.88%
EPS Next 3Y37%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
OSL:NAS (9/17/2025, 9:25:06 AM)
16.37
+0.02 (+0.09%)
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 Cap17.27B
Analysts74.55
Price Target16.58 (1.28%)
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)2
Avg EPS beat(2)18.19%
Min EPS beat(2)8.52%
Max EPS beat(2)27.86%
EPS beat(4)2
Avg EPS beat(4)-5.72%
Min EPS beat(4)-52.76%
Max EPS beat(4)27.86%
EPS beat(8)5
Avg EPS beat(8)30.32%
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)1.32%
Min Revenue beat(2)1.01%
Max Revenue beat(2)1.64%
Revenue beat(4)3
Avg Revenue beat(4)1.71%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)4.79%
Revenue beat(8)7
Avg Revenue beat(8)3.37%
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)-1.94%
PT rev (3m)18%
EPS NQ rev (1m)-2.23%
EPS NQ rev (3m)20.88%
EPS NY rev (1m)13.82%
EPS NY rev (3m)13.82%
Revenue NQ rev (1m)-0.24%
Revenue NQ rev (3m)25.5%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)3.58%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.84 | ||
| Fwd PE | 8.12 | ||
| P/S | 0.47 | ||
| P/FCF | 4.13 | ||
| P/OCF | 2.17 | ||
| P/B | 2.92 | ||
| P/tB | 4.85 | ||
| EV/EBITDA | 2.41 |
EPS(TTM)1.51
EY9.22%
EPS(NY)2.02
Fwd EY12.31%
FCF(TTM)3.96
FCFY24.19%
OCF(TTM)7.56
OCFY46.19%
SpS34.78
BVpS5.6
TBVpS3.37
PEG (NY)0.1
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.43% | ||
| ROE | 33.08% | ||
| ROCE | 10.22% | ||
| ROIC | 7.87% | ||
| ROICexc | 16.62% | ||
| ROICexgc | 20.51% | ||
| OM | 7.3% | ||
| PM (TTM) | 5.33% | ||
| GM | 52.12% | ||
| FCFM | 11.38% |
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 Turnover0.83
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 3.54 | ||
| Debt/EBITDA | 1.64 | ||
| Cap/Depr | 85.49% | ||
| Cap/Sales | 10.36% | ||
| Interest Coverage | 2.61 | ||
| Cash Conversion | 111.97% | ||
| Profit Quality | 213.54% | ||
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.06 | ||
| Altman-Z | N/A |
F-Score6
WACC8.68%
ROIC/WACC0.91
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)8.63%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%95.24%
EPS Next Y107.26%
EPS Next 2Y44.88%
EPS Next 3Y37%
EPS Next 5Y23.46%
Revenue 1Y (TTM)21.58%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%10.08%
Revenue Next Year6.64%
Revenue Next 2Y6.49%
Revenue Next 3Y6.54%
Revenue Next 5Y5.4%
EBIT growth 1Y14.97%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year262.27%
EBIT Next 3Y66.54%
EBIT Next 5Y45.42%
FCF growth 1Y-12.01%
FCF growth 3Y256.62%
FCF growth 5Y21.9%
OCF growth 1Y63.81%
OCF growth 3Y268.24%
OCF growth 5Y17.99%