NORTH AMERICAN CONSTRUCTION (NOA.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:NOA • CA6568111067

21 CAD
+0.22 (+1.06%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

3

Taking everything into account, NOA scores 3 out of 10 in our fundamental rating. NOA was compared to 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. Finally NOA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • NOA had positive earnings in the past year.
  • 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 of 2.06%. This is comparable to the rest of the industry: NOA outperforms 40.74% of its industry peers.
  • With a Return On Equity value of 8.18%, NOA perfoms like the industry average, outperforming 48.15% of the companies in the same industry.
  • The Return On Invested Capital of NOA (5.59%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital 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

  • The Profit Margin of NOA (3.00%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of NOA has declined.
  • NOA's Operating Margin of 8.68% is in line compared to the rest of the industry. NOA outperforms 59.26% of its industry peers.
  • In the last couple of years the Operating Margin of NOA has grown nicely.
  • 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.
  • In the last couple of years the Gross Margin of NOA has grown nicely.
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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NOA is destroying value.
  • NOA has about the same amout of shares outstanding than it did 1 year ago.
  • NOA has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for NOA is higher compared to a year ago.
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 1.26, we must say that NOA is in the distress zone and has some risk of bankruptcy.
  • NOA has a Altman-Z score of 1.26. This is in the lower half of the industry: NOA underperforms 70.37% of its industry peers.
  • A Debt/Equity ratio of 1.59 is on the high side and indicates that NOA has dependencies on debt 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 1.26
ROIC/WACC0.64
WACC8.74%
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

  • NOA has a Current 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.
  • NOA has a Current ratio of 0.91. This is in the lower half of the industry: NOA underperforms 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

  • The earnings per share for NOA have decreased strongly by -38.61% in the last year.
  • NOA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.82% yearly.
  • NOA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.24%.
  • The Revenue has been growing by 10.15% on average over the past years. This is quite good.
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.
  • The Revenue is expected to grow by 7.95% on average over the next years.
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

  • NOA is valuated reasonably with a Price/Earnings ratio of 9.50.
  • Based on the Price/Earnings ratio, NOA is valued cheaply inside the industry as 81.48% of the companies are valued more expensively.
  • NOA is valuated cheaply when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • NOA is valuated cheaply with a Price/Forward Earnings ratio of 6.76.
  • Based on the Price/Forward Earnings ratio, NOA is valued cheaply inside the industry as 88.89% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, NOA is valued rather cheaply.
Industry RankSector Rank
PE 9.5
Fwd PE 6.76
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NOA indicates a somewhat cheap valuation: NOA is cheaper than 70.37% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 4.39
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)0.48
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%.
  • NOA's Dividend Yield is a higher than the industry average which is at 1.16.
  • Compared to an average S&P500 Dividend Yield of 1.83, NOA pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.34%

5.2 History

  • On average, the dividend of NOA grows each year by 31.86%, which is quite nice.
  • NOA has paid a dividend for at least 10 years, which is a reliable track record.
  • NOA has not decreased their dividend for at least 10 years, which is a reliable track record.
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

  • 32.95% of the earnings are spent on dividend by NOA. This is a low number and 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

More info and screens

Find the best dividend stocksShow peers with best dividend

NORTH AMERICAN CONSTRUCTION

TSX:NOA (2/5/2026, 7:00:00 PM)

21

+0.22 (+1.06%)

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 Cap610.47M
Revenue(TTM)1.28B
Net Income(TTM)38.52M
Analysts77.78
Price Target30.89 (47.1%)
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 9.5
Fwd PE 6.76
P/S 0.48
P/FCF N/A
P/OCF 1.99
P/B 1.3
P/tB 1.33
EV/EBITDA 4.39
EPS(TTM)2.21
EY10.52%
EPS(NY)3.11
Fwd EY14.79%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)10.54
OCFY50.2%
SpS44.18
BVpS16.21
TBVpS15.84
PEG (NY)N/A
PEG (5Y)0.48
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 1.26
F-Score5
WACC8.74%
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%.