NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
OSL:NAS - NO0010196140 - Common Stock
16.15 NOK
-0.56 (-3.35%)
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.
NAS had a positive operating cash flow in the past year.
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
Looking at the Return On Assets, with a value of 4.43%, NAS is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
NAS has a Return On Equity of 33.08%. This is amongst the best in the industry. NAS outperforms 91.67% of its industry peers.
NAS has a Return On Invested Capital (7.87%) which is comparable to the rest of the 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
Looking at the Profit Margin, with a value of 5.33%, NAS is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
In the last couple of years the Profit Margin of NAS has declined.
NAS has a Operating Margin of 7.30%. This is in the better half of the industry: NAS outperforms 66.67% of its industry peers.
NAS's Operating Margin has improved in the last couple of years.
NAS has a Gross Margin of 52.12%. This is in the better half of the industry: NAS outperforms 75.00% of its industry peers.
NAS's Gross Margin has improved in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NAS is destroying value.
Compared to 1 year ago, NAS has more shares outstanding
The number of shares outstanding for NAS has been increased compared to 5 years ago.
Compared to 1 year ago, NAS has an improved debt to assets ratio.
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.
With an excellent Debt to FCF ratio value of 3.54, NAS belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
A Debt/Equity ratio of 1.98 is on the high side and indicates that NAS has dependencies on debt financing.
NAS has a Debt to Equity ratio (1.98) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 3.54 | ||
| Altman-Z | N/A |
ROIC/WACC0.91
WACC8.65%
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.
The Current ratio of NAS (1.08) is better than 100.00% of its industry peers.
NAS has a Quick Ratio of 1.06. This is a normal value and indicates that NAS is financially healthy and should not expect problems in meeting its short term obligations.
NAS has a better Quick ratio (1.06) than 100.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.06 |
3. Growth
3.1 Past
NAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.63%, which is quite good.
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!
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)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
Based on estimates for the next years, NAS will show a very strong growth in Earnings Per Share. The EPS will grow by 23.80% on average per year.
NAS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.69% yearly.
EPS Next Y107.26%
EPS Next 2Y44.88%
EPS Next 3Y37%
EPS Next 5Y23.8%
Revenue Next Year6.7%
Revenue Next 2Y6.49%
Revenue Next 3Y6.57%
Revenue Next 5Y5.69%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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
Based on the Price/Earnings ratio of 10.70, the valuation of NAS can be described as reasonable.
Based on the Price/Earnings ratio, NAS is valued a bit more expensive than 75.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.90. NAS is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 8.01, which indicates a very decent valuation of NAS.
66.67% of the companies in the same industry are cheaper than NAS, based on the Price/Forward Earnings ratio.
NAS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.52.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.7 | ||
| Fwd PE | 8.01 |
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 a bit cheaper than 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.08 | ||
| EV/EBITDA | 2.46 |
4.3 Compensation for Growth
The 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.
NAS's earnings are expected to grow with 37.00% in the coming years. This may justify a more expensive valuation.
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 (9/2/2025, 4:19:59 PM)
16.15
-0.56 (-3.35%)
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 Cap17.04B
Analysts75
Price Target16.9 (4.64%)
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)-0.43%
PT rev (3m)13.8%
EPS NQ rev (1m)3.82%
EPS NQ rev (3m)23.64%
EPS NY rev (1m)13.82%
EPS NY rev (3m)13.82%
Revenue NQ rev (1m)-0.01%
Revenue NQ rev (3m)25.8%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)3.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.7 | ||
| Fwd PE | 8.01 | ||
| P/S | 0.46 | ||
| P/FCF | 4.08 | ||
| P/OCF | 2.14 | ||
| P/B | 2.88 | ||
| P/tB | 4.79 | ||
| EV/EBITDA | 2.46 |
EPS(TTM)1.51
EY9.35%
EPS(NY)2.02
Fwd EY12.48%
FCF(TTM)3.96
FCFY24.52%
OCF(TTM)7.56
OCFY46.82%
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
WACC8.65%
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 5Y23.8%
Revenue 1Y (TTM)21.58%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%10.08%
Revenue Next Year6.7%
Revenue Next 2Y6.49%
Revenue Next 3Y6.57%
Revenue Next 5Y5.69%
EBIT growth 1Y14.97%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year262.27%
EBIT Next 3Y66.54%
EBIT Next 5Y45.82%
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%