NORWEGIAN AIR SHUTTLE AS (NAS.OL) Fundamental Analysis & Valuation

OSL:NAS • NO0010196140

Current stock price

13.743 NOK
-0.25 (-1.8%)
Last:

This NAS.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. NAS.OL Profitability Analysis

1.1 Basic Checks

  • In the past year NAS was profitable.
  • NAS had a positive operating cash flow in the past year.
  • Each year in the past 5 years NAS has been profitable.
  • NAS had a positive operating cash flow in each of the past 5 years.
NAS.OL Yearly Net Income VS EBIT VS OCF VS FCFNAS.OL 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 2025 0 -10B -20B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.96%, NAS is in the better half of the industry, outperforming 70.59% of the companies in the same industry.
  • NAS's Return On Equity of 32.55% is fine compared to the rest of the industry. NAS outperforms 70.59% of its industry peers.
  • NAS has a Return On Invested Capital of 10.23%. This is in the better half of the industry: NAS outperforms 76.47% of its industry peers.
Industry RankSector Rank
ROA 5.96%
ROE 32.55%
ROIC 10.23%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
NAS.OL Yearly ROA, ROE, ROICNAS.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200 400 600

1.3 Margins

  • With a decent Profit Margin value of 6.70%, NAS is doing good in the industry, outperforming 64.71% of the companies in the same industry.
  • NAS's Profit Margin has improved in the last couple of years.
  • With a decent Operating Margin value of 9.68%, NAS is doing good in the industry, outperforming 76.47% of the companies in the same industry.
  • The Gross Margin of NAS (52.55%) is better than 64.71% of its industry peers.
  • In the last couple of years the Gross Margin of NAS has grown nicely.
Industry RankSector Rank
OM 9.68%
PM (TTM) 6.7%
GM 52.55%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y10.52%
PM growth 5YN/A
GM growth 3Y17.94%
GM growth 5Y8.9%
NAS.OL Yearly Profit, Operating, Gross MarginsNAS.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -100 -200

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3

2. NAS.OL Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NAS is destroying value.
  • There is no outstanding debt for NAS. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
NAS.OL Yearly Shares OutstandingNAS.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
NAS.OL Yearly Total Debt VS Total AssetsNAS.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

2.2 Solvency

  • The Debt to FCF ratio of NAS is 4.96, which is a neutral value as it means it would take NAS, 4.96 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of NAS (4.96) is comparable to the rest of the industry.
  • NAS has a Debt/Equity ratio of 1.49. This is a high value indicating a heavy dependency on external financing.
  • NAS has a Debt to Equity ratio of 1.49. This is comparable to the rest of the industry: NAS outperforms 47.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 4.96
Altman-Z N/A
ROIC/WACC0.95
WACC10.72%
NAS.OL Yearly LT Debt VS Equity VS FCFNAS.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B -10B 20B 30B

2.3 Liquidity

  • NAS has a Current Ratio of 1.03. 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 (1.03) is better than 94.12% of its industry peers.
  • A Quick Ratio of 0.99 indicates that NAS may have some problems paying its short term obligations.
  • The Quick ratio of NAS (0.99) is better than 94.12% of its industry peers.
Industry RankSector Rank
Current Ratio 1.03
Quick Ratio 0.99
NAS.OL Yearly Current Assets VS Current LiabilitesNAS.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

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

6

3. NAS.OL Growth Analysis

3.1 Past

  • NAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 148.96%, which is quite impressive.
  • Measured over the past years, NAS shows a very strong growth in Earnings Per Share. The EPS has been growing by 42.15% on average per year.
  • NAS shows a small growth in Revenue. In the last year, the Revenue has grown by 6.59%.
  • Measured over the past years, NAS shows a very strong growth in Revenue. The Revenue has been growing by 32.85% on average per year.
EPS 1Y (TTM)148.96%
EPS 3Y42.15%
EPS 5YN/A
EPS Q2Q%92.59%
Revenue 1Y (TTM)6.59%
Revenue growth 3Y25.89%
Revenue growth 5Y32.85%
Sales Q2Q%3.52%

3.2 Future

  • The Earnings Per Share is expected to grow by 6.77% on average over the next years.
  • The Revenue is expected to grow by 9.19% on average over the next years. This is quite good.
EPS Next Y-17.24%
EPS Next 2Y-0.94%
EPS Next 3Y1.53%
EPS Next 5Y6.77%
Revenue Next Year7.3%
Revenue Next 2Y6%
Revenue Next 3Y5.97%
Revenue Next 5Y9.19%

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.
NAS.OL Yearly Revenue VS EstimatesNAS.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B 50B
NAS.OL Yearly EPS VS EstimatesNAS.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 200 -200 400 -400 -600

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7

4. NAS.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 5.75 indicates a rather cheap valuation of NAS.
  • Compared to the rest of the industry, the Price/Earnings ratio of NAS indicates a rather cheap valuation: NAS is cheaper than 82.35% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of NAS to the average of the S&P500 Index (27.71), we can say NAS is valued rather cheaply.
  • A Price/Forward Earnings ratio of 6.95 indicates a rather cheap valuation of NAS.
  • NAS's Price/Forward Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.09, NAS is valued rather cheaply.
Industry RankSector Rank
PE 5.75
Fwd PE 6.95
NAS.OL Price Earnings VS Forward Price EarningsNAS.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • NAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. NAS is cheaper than 94.12% of the companies in the same industry.
  • NAS's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NAS is cheaper than 76.47% of the companies in the same industry.
Industry RankSector Rank
P/FCF 4.88
EV/EBITDA 2.1
NAS.OL Per share dataNAS.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • NAS has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-0.94%
EPS Next 3Y1.53%

More info and screens

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

6

5. NAS.OL Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 5.73%, NAS is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 1.62, NAS pays a better dividend. On top of this NAS pays more dividend than 100.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, NAS pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.73%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DPN/A
EPS Next 2Y-0.94%
EPS Next 3Y1.53%
NAS.OL Yearly Income VS Free CF VS DividendNAS.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B -5B -10B -15B -20B

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NAS.OL Fundamentals: All Metrics, Ratios and Statistics

NORWEGIAN AIR SHUTTLE AS

OSL:NAS (4/22/2026, 10:24:02 AM)

13.743

-0.25 (-1.8%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)02-13
Earnings (Next)04-29
Inst Owners48.61%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap14.50B
Revenue(TTM)37.64B
Net Income(TTM)2.50B
Analysts75
Price Target18.07 (31.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.73%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.34%
Min EPS beat(2)16.82%
Max EPS beat(2)27.86%
EPS beat(4)3
Avg EPS beat(4)0.11%
Min EPS beat(4)-52.76%
Max EPS beat(4)27.86%
EPS beat(8)5
Avg EPS beat(8)30.09%
EPS beat(12)7
Avg EPS beat(12)24.45%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.43%
Min Revenue beat(2)-0.15%
Max Revenue beat(2)1.01%
Revenue beat(4)3
Avg Revenue beat(4)1.82%
Min Revenue beat(4)-0.15%
Max Revenue beat(4)4.79%
Revenue beat(8)6
Avg Revenue beat(8)3.33%
Revenue beat(12)10
Avg Revenue beat(12)16.13%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-6.77%
PT rev (3m)-3.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-80%
EPS NY rev (1m)-8.56%
EPS NY rev (3m)-7.44%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.29%
Revenue NY rev (1m)0.83%
Revenue NY rev (3m)1.05%
Valuation
Industry RankSector Rank
PE 5.75
Fwd PE 6.95
P/S 0.39
P/FCF 4.88
P/OCF 1.89
P/B 1.89
P/tB 2.54
EV/EBITDA 2.1
EPS(TTM)2.39
EY17.39%
EPS(NY)1.98
Fwd EY14.39%
FCF(TTM)2.82
FCFY20.48%
OCF(TTM)7.29
OCFY53.04%
SpS35.4
BVpS7.28
TBVpS5.42
PEG (NY)N/A
PEG (5Y)N/A
Graham Number19.7896 (44%)
Profitability
Industry RankSector Rank
ROA 5.96%
ROE 32.55%
ROCE 13.29%
ROIC 10.23%
ROICexc 16.68%
ROICexgc 18.9%
OM 9.68%
PM (TTM) 6.7%
GM 52.55%
FCFM 7.95%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
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
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y10.52%
PM growth 5YN/A
GM growth 3Y17.94%
GM growth 5Y8.9%
F-Score7
Asset Turnover0.89
Health
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 4.96
Debt/EBITDA 1.48
Cap/Depr 113.77%
Cap/Sales 12.64%
Interest Coverage 3.39
Cash Conversion 99.03%
Profit Quality 118.76%
Current Ratio 1.03
Quick Ratio 0.99
Altman-Z N/A
F-Score7
WACC10.72%
ROIC/WACC0.95
Cap/Depr(3y)53.05%
Cap/Depr(5y)32.78%
Cap/Sales(3y)6.32%
Cap/Sales(5y)3.9%
Profit Quality(3y)264.76%
Profit Quality(5y)207.47%
High Growth Momentum
Growth
EPS 1Y (TTM)148.96%
EPS 3Y42.15%
EPS 5YN/A
EPS Q2Q%92.59%
EPS Next Y-17.24%
EPS Next 2Y-0.94%
EPS Next 3Y1.53%
EPS Next 5Y6.77%
Revenue 1Y (TTM)6.59%
Revenue growth 3Y25.89%
Revenue growth 5Y32.85%
Sales Q2Q%3.52%
Revenue Next Year7.3%
Revenue Next 2Y6%
Revenue Next 3Y5.97%
Revenue Next 5Y9.19%
EBIT growth 1Y57.72%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year140.68%
EBIT Next 3Y41.4%
EBIT Next 5Y32.46%
FCF growth 1Y-53.39%
FCF growth 3Y7.58%
FCF growth 5YN/A
OCF growth 1Y3.05%
OCF growth 3Y47.85%
OCF growth 5YN/A

NORWEGIAN AIR SHUTTLE AS / NAS.OL Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for NORWEGIAN AIR SHUTTLE AS?

ChartMill assigns a fundamental rating of 5 / 10 to NAS.OL.


What is the valuation status of NORWEGIAN AIR SHUTTLE AS (NAS.OL) stock?

ChartMill assigns a valuation rating of 7 / 10 to NORWEGIAN AIR SHUTTLE AS (NAS.OL). This can be considered as Undervalued.


What is the profitability of NAS stock?

NORWEGIAN AIR SHUTTLE AS (NAS.OL) has a profitability rating of 6 / 10.


What are the PE and PB ratios of NORWEGIAN AIR SHUTTLE AS (NAS.OL) stock?

The Price/Earnings (PE) ratio for NORWEGIAN AIR SHUTTLE AS (NAS.OL) is 5.75 and the Price/Book (PB) ratio is 1.89.


What is the financial health of NORWEGIAN AIR SHUTTLE AS (NAS.OL) stock?

The financial health rating of NORWEGIAN AIR SHUTTLE AS (NAS.OL) is 3 / 10.