NORTH AMERICAN CONSTRUCTION (NOA.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:NOA • CA6568111067

20.78 CAD
+0.4 (+1.96%)
Last: Feb 4, 2026, 07:00 PM
Fundamental Rating

3

NOA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 27 industry peers in the Energy Equipment & Services industry. While NOA is still in line with the averages on profitability rating, there are concerns on its financial health. NOA has a correct valuation and a medium growth rate. NOA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year NOA was profitable.
  • In the past year NOA had a positive cash flow from operations.
  • In the past 5 years NOA has always been profitable.
  • Each year in the past 5 years NOA had a positive operating cash flow.
NOA.CA Yearly Net Income VS EBIT VS OCF VS FCFNOA.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M

1.2 Ratios

  • NOA has a Return On Assets (2.06%) which is comparable to the rest of the industry.
  • NOA has a Return On Equity (8.18%) which is in line with its industry peers.
  • NOA's Return On Invested Capital of 5.59% is in line compared to the rest of the industry. NOA outperforms 44.44% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NOA is significantly below the industry average of 177.00%.
Industry RankSector Rank
ROA 2.06%
ROE 8.18%
ROIC 5.59%
ROA(3y)4.52%
ROA(5y)5.07%
ROE(3y)17.02%
ROE(5y)17.87%
ROIC(3y)6.92%
ROIC(5y)5.82%
NOA.CA Yearly ROA, ROE, ROICNOA.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20

1.3 Margins

  • NOA has a Profit Margin of 3.00%. This is comparable to the rest of the industry: NOA outperforms 40.74% of its industry peers.
  • NOA's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 8.68%, NOA is in line with its industry, outperforming 59.26% of the companies in the same industry.
  • NOA's Operating Margin has improved in the last couple of years.
  • NOA's Gross Margin of 12.88% is on the low side compared to the rest of the industry. NOA is outperformed by 70.37% of its industry peers.
  • NOA's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.68%
PM (TTM) 3%
GM 12.88%
OM growth 3Y27.21%
OM growth 5Y10.09%
PM growth 3Y-21.64%
PM growth 5Y-5.91%
GM growth 3Y14.79%
GM growth 5Y6.09%
NOA.CA Yearly Profit, Operating, Gross MarginsNOA.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15

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ROAROEROICOperating and Profit MarginShow most profitable peers

0

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NOA is destroying value.
  • The number of shares outstanding for NOA remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, NOA has more shares outstanding
  • Compared to 1 year ago, NOA has a worse debt to assets ratio.
NOA.CA Yearly Shares OutstandingNOA.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
NOA.CA Yearly Total Debt VS Total AssetsNOA.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

  • Based on the Altman-Z score of 1.25, we must say that NOA is in the distress zone and has some risk of bankruptcy.
  • NOA's Altman-Z score of 1.25 is on the low side compared to the rest of the industry. NOA is outperformed by 70.37% of its industry peers.
  • NOA has a Debt/Equity ratio of 1.59. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of NOA (1.59) is worse than 81.48% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.59
Debt/FCF N/A
Altman-Z 1.25
ROIC/WACC0.64
WACC8.73%
NOA.CA Yearly LT Debt VS Equity VS FCFNOA.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 0.91 indicates that NOA may have some problems paying its short term obligations.
  • NOA's Current ratio of 0.91 is on the low side compared to the rest of the industry. NOA is outperformed by 77.78% of its industry peers.
  • NOA has a Quick Ratio of 0.91. This is a bad value and indicates that NOA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.73, NOA is doing worse than 74.07% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.91
Quick Ratio 0.73
NOA.CA Yearly Current Assets VS Current LiabilitesNOA.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • NOA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.61%.
  • NOA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.82% yearly.
  • Looking at the last year, NOA shows a quite strong growth in Revenue. The Revenue has grown by 8.24% in the last year.
  • NOA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.15% yearly.
EPS 1Y (TTM)-38.61%
EPS 3Y21.88%
EPS 5Y19.82%
EPS Q2Q%-42.74%
Revenue 1Y (TTM)8.24%
Revenue growth 3Y21.24%
Revenue growth 5Y10.15%
Sales Q2Q%10.59%

3.2 Future

  • NOA is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -1.53% yearly.
  • Based on estimates for the next years, NOA will show a small growth in Revenue. The Revenue will grow by 7.95% on average per year.
EPS Next Y-45.91%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
EPS Next 5YN/A
Revenue Next Year12.31%
Revenue Next 2Y9.91%
Revenue Next 3Y7.95%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NOA.CA Yearly Revenue VS EstimatesNOA.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
NOA.CA Yearly EPS VS EstimatesNOA.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 2 3

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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 9.40, the valuation of NOA can be described as reasonable.
  • Based on the Price/Earnings ratio, NOA is valued cheaper than 81.48% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 28.25, NOA is valued rather cheaply.
  • The Price/Forward Earnings ratio is 6.69, which indicates a rather cheap valuation of NOA.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NOA indicates a rather cheap valuation: NOA is cheaper than 88.89% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.50, NOA is valued rather cheaply.
Industry RankSector Rank
PE 9.4
Fwd PE 6.69
NOA.CA Price Earnings VS Forward Price EarningsNOA.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NOA is valued a bit cheaper than 70.37% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 4.37
NOA.CA Per share dataNOA.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.47
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • NOA has a Yearly Dividend Yield of 2.34%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 1.16, NOA pays a bit more dividend than its industry peers.
  • NOA's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.34%

5.2 History

  • The dividend of NOA is nicely growing with an annual growth rate of 31.86%!
  • NOA has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NOA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)31.86%
Div Incr Years3
Div Non Decr Years10
NOA.CA Yearly Dividends per shareNOA.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4

5.3 Sustainability

  • NOA pays out 32.95% of its income as dividend. This is a sustainable payout ratio.
DP32.95%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
NOA.CA Yearly Income VS Free CF VS DividendNOA.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M 60M -60M
NOA.CA Dividend Payout.NOA.CA Dividend Payout, showing the Payout Ratio.NOA.CA Dividend Payout.PayoutRetained Earnings

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NORTH AMERICAN CONSTRUCTION

TSX:NOA (2/4/2026, 7:00:00 PM)

20.78

+0.4 (+1.96%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)11-12
Earnings (Next)02-18
Inst Owners66.82%
Inst Owner ChangeN/A
Ins Owners10.06%
Ins Owner ChangeN/A
Market Cap604.07M
Revenue(TTM)1.28B
Net Income(TTM)38.52M
Analysts77.78
Price Target30.89 (48.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.34%
Yearly Dividend0.4
Dividend Growth(5Y)31.86%
DP32.95%
Div Incr Years3
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-59.29%
Min EPS beat(2)-97.55%
Max EPS beat(2)-21.03%
EPS beat(4)0
Avg EPS beat(4)-38.46%
Min EPS beat(4)-97.55%
Max EPS beat(4)-1.79%
EPS beat(8)2
Avg EPS beat(8)-19.74%
EPS beat(12)5
Avg EPS beat(12)-5.8%
EPS beat(16)6
Avg EPS beat(16)-7.94%
Revenue beat(2)0
Avg Revenue beat(2)-7.6%
Min Revenue beat(2)-9.99%
Max Revenue beat(2)-5.2%
Revenue beat(4)1
Avg Revenue beat(4)-2.45%
Min Revenue beat(4)-9.99%
Max Revenue beat(4)8.8%
Revenue beat(8)1
Avg Revenue beat(8)-5.8%
Revenue beat(12)3
Avg Revenue beat(12)-3.86%
Revenue beat(16)4
Avg Revenue beat(16)-3.79%
PT rev (1m)0%
PT rev (3m)-0.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)9.66%
EPS NY rev (1m)-0.37%
EPS NY rev (3m)-13.68%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.18%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.29%
Valuation
Industry RankSector Rank
PE 9.4
Fwd PE 6.69
P/S 0.47
P/FCF N/A
P/OCF 1.97
P/B 1.28
P/tB 1.31
EV/EBITDA 4.37
EPS(TTM)2.21
EY10.64%
EPS(NY)3.11
Fwd EY14.95%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)10.54
OCFY50.73%
SpS44.18
BVpS16.21
TBVpS15.84
PEG (NY)N/A
PEG (5Y)0.47
Graham Number28.39
Profitability
Industry RankSector Rank
ROA 2.06%
ROE 8.18%
ROCE 7.62%
ROIC 5.59%
ROICexc 6.01%
ROICexgc 6.06%
OM 8.68%
PM (TTM) 3%
GM 12.88%
FCFM N/A
ROA(3y)4.52%
ROA(5y)5.07%
ROE(3y)17.02%
ROE(5y)17.87%
ROIC(3y)6.92%
ROIC(5y)5.82%
ROICexc(3y)7.45%
ROICexc(5y)6.21%
ROICexgc(3y)7.51%
ROICexgc(5y)6.25%
ROCE(3y)9.42%
ROCE(5y)7.93%
ROICexgc growth 3Y25.02%
ROICexgc growth 5Y5.06%
ROICexc growth 3Y24.95%
ROICexc growth 5Y4.89%
OM growth 3Y27.21%
OM growth 5Y10.09%
PM growth 3Y-21.64%
PM growth 5Y-5.91%
GM growth 3Y14.79%
GM growth 5Y6.09%
F-Score5
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 1.59
Debt/FCF N/A
Debt/EBITDA 2.33
Cap/Depr 149.18%
Cap/Sales 24.33%
Interest Coverage 1.53
Cash Conversion 95.49%
Profit Quality N/A
Current Ratio 0.91
Quick Ratio 0.73
Altman-Z 1.25
F-Score5
WACC8.73%
ROIC/WACC0.64
Cap/Depr(3y)140.73%
Cap/Depr(5y)131.94%
Cap/Sales(3y)20.21%
Cap/Sales(5y)20.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.61%
EPS 3Y21.88%
EPS 5Y19.82%
EPS Q2Q%-42.74%
EPS Next Y-45.91%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
EPS Next 5YN/A
Revenue 1Y (TTM)8.24%
Revenue growth 3Y21.24%
Revenue growth 5Y10.15%
Sales Q2Q%10.59%
Revenue Next Year12.31%
Revenue Next 2Y9.91%
Revenue Next 3Y7.95%
Revenue Next 5YN/A
EBIT growth 1Y-37.63%
EBIT growth 3Y54.22%
EBIT growth 5Y21.26%
EBIT Next Year96.81%
EBIT Next 3Y30.21%
EBIT Next 5Y22.48%
FCF growth 1Y-113.45%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y63.34%
OCF growth 3Y9.62%
OCF growth 5Y6.62%

NORTH AMERICAN CONSTRUCTION / NOA.CA FAQ

What is the ChartMill fundamental rating of NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?

ChartMill assigns a fundamental rating of 3 / 10 to NOA.CA.


What is the valuation status for NOA stock?

ChartMill assigns a valuation rating of 5 / 10 to NORTH AMERICAN CONSTRUCTION (NOA.CA). This can be considered as Fairly Valued.


What is the profitability of NOA stock?

NORTH AMERICAN CONSTRUCTION (NOA.CA) has a profitability rating of 4 / 10.


What is the expected EPS growth for NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?

The Earnings per Share (EPS) of NORTH AMERICAN CONSTRUCTION (NOA.CA) is expected to decline by -45.91% in the next year.


How sustainable is the dividend of NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?

The dividend rating of NORTH AMERICAN CONSTRUCTION (NOA.CA) is 7 / 10 and the dividend payout ratio is 32.95%.