NORTH AMERICAN CONSTRUCTION (NOA.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:NOA • CA6568111067
21.96 CAD
+0.96 (+4.57%)
Last: Feb 6, 2026, 07:00 PM
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. NOA has a medium profitability rating, but doesn't score so well on its financial health evaluation. NOA has a decent growth rate and is not valued too expensively. Finally NOA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- NOA had positive earnings in the past year.
- NOA had a positive operating cash flow in the past year.
- In the past 5 years NOA has always been profitable.
- In the past 5 years NOA always reported a positive cash flow from operatings.
1.2 Ratios
- NOA's Return On Assets of 2.06% is in line compared 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.
- NOA has a Return On Invested Capital of 5.59%. This is comparable 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 Rank | Sector 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%
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.
- In the last couple of years the Profit Margin of NOA has declined.
- 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 Rank | Sector 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%
2. Health
2.1 Basic Checks
- NOA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- NOA has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for NOA has been increased compared to 5 years ago.
- Compared to 1 year ago, NOA has a worse debt to assets ratio.
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.
- With a Altman-Z score value of 1.26, NOA is not doing good in the industry: 70.37% of the companies in the same industry are doing better.
- A Debt/Equity ratio of 1.59 is on the high side and indicates that NOA has dependencies on debt financing.
- With a Debt to Equity ratio value of 1.59, NOA is not doing good in the industry: 81.48% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.59 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.26 |
ROIC/WACC0.64
WACC8.7%
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.
- Looking at the Current ratio, with a value of 0.91, NOA is doing worse than 77.78% of the companies in the same industry.
- A Quick Ratio of 0.73 indicates that NOA may have some problems paying its short term obligations.
- NOA has a worse Quick ratio (0.73) than 74.07% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.91 | ||
| Quick Ratio | 0.73 |
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.
- Measured over the past years, NOA shows a quite strong growth in Revenue. The Revenue has been growing by 10.15% on average per year.
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
- Based on estimates for the next years, NOA will show a decrease in Earnings Per Share. The EPS will decrease by -1.53% on average per year.
- 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.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- NOA is valuated reasonably with a Price/Earnings ratio of 9.94.
- 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.
- A Price/Forward Earnings ratio of 7.07 indicates a rather cheap valuation of NOA.
- NOA's Price/Forward Earnings ratio is rather cheap when compared to the industry. NOA is cheaper than 88.89% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of NOA to the average of the S&P500 Index (27.78), we can say NOA is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.94 | ||
| Fwd PE | 7.07 |
4.2 Price Multiples
- NOA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NOA is cheaper than 70.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.39 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)0.5
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.34%, NOA has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 1.16, NOA pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.83, NOA pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector 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 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
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%
TSX:NOA (2/6/2026, 7:00:00 PM)
21.96
+0.96 (+4.57%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)11-12 2025-11-12/amc
Earnings (Next)02-18 2026-02-18/bmo
Inst Owners66.82%
Inst Owner ChangeN/A
Ins Owners10.06%
Ins Owner ChangeN/A
Market Cap638.38M
Revenue(TTM)1.28B
Net Income(TTM)38.52M
Analysts77.78
Price Target30.89 (40.66%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector 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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.94 | ||
| Fwd PE | 7.07 | ||
| P/S | 0.5 | ||
| P/FCF | N/A | ||
| P/OCF | 2.08 | ||
| P/B | 1.36 | ||
| P/tB | 1.39 | ||
| EV/EBITDA | 4.39 |
EPS(TTM)2.21
EY10.06%
EPS(NY)3.11
Fwd EY14.14%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)10.54
OCFY48.01%
SpS44.18
BVpS16.21
TBVpS15.84
PEG (NY)N/A
PEG (5Y)0.5
Graham Number28.39
Profitability
| Industry Rank | Sector 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 Rank | Sector 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
WACC8.7%
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%.