NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
OSL:NAS • NO0010196140
16.905 NOK
-0.15 (-0.88%)
Last: Feb 13, 2026, 07:00 PM
We assign a fundamental rating of 5 out of 10 to NAS. NAS was compared to 14 industry peers in the Passenger Airlines industry. NAS has an average financial health and profitability rating. A decent growth rate in combination with a cheap valuation! Better keep an eye on NAS.
1. Profitability
1.1 Basic Checks
- In the past year NAS was profitable.
- NAS had a positive operating cash flow in the past year.
- NAS had positive earnings in 4 of the past 5 years.
- NAS had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- NAS's Return On Assets of 5.96% is fine compared to the rest of the industry. NAS outperforms 71.43% of its industry peers.
- NAS has a better Return On Equity (32.55%) than 78.57% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 10.23%, NAS is in the better half of the industry, outperforming 78.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.96% | ||
| ROE | 32.55% | ||
| ROIC | 10.23% |
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
- NAS's Profit Margin of 6.70% is fine compared to the rest of the industry. NAS outperforms 71.43% of its industry peers.
- In the last couple of years the Profit Margin of NAS has declined.
- With a decent Operating Margin value of 9.68%, NAS is doing good in the industry, outperforming 78.57% of the companies in the same industry.
- NAS's Operating Margin has improved in the last couple of years.
- NAS's Gross Margin of 52.55% is fine compared to the rest of the industry. NAS outperforms 64.29% of its industry peers.
- In the last couple of years the Gross Margin of NAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.68% | ||
| PM (TTM) | 6.7% | ||
| GM | 52.55% |
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
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NAS is still creating some value.
- NAS has more shares outstanding than it did 1 year ago.
- Compared to 5 years ago, NAS has more shares outstanding
- Compared to 1 year ago, NAS has an improved debt to assets ratio.
2.2 Solvency
- NAS has a debt to FCF ratio of 4.96. This is a neutral value as NAS would need 4.96 years to pay back of all of its debts.
- With a decent Debt to FCF ratio value of 4.96, NAS is doing good in the industry, outperforming 71.43% of the companies in the same industry.
- A Debt/Equity ratio of 1.49 is on the high side and indicates that NAS has dependencies on debt financing.
- NAS has a worse Debt to Equity ratio (1.49) than 64.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.49 | ||
| Debt/FCF | 4.96 | ||
| Altman-Z | N/A |
ROIC/WACC1.14
WACC8.94%
2.3 Liquidity
- A Current Ratio of 1.03 indicates that NAS should not have too much problems paying its short term obligations.
- The Current ratio of NAS (1.03) is better than 92.86% of its industry peers.
- A Quick Ratio of 0.99 indicates that NAS may have some problems paying its short term obligations.
- With an excellent Quick ratio value of 0.99, NAS belongs to the best of the industry, outperforming 92.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.99 |
3. Growth
3.1 Past
- NAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 57.35%, which is quite impressive.
- NAS shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -23.42% yearly.
- Looking at the last year, NAS shows a quite strong growth in Revenue. The Revenue has grown by 13.19% in the last year.
- The Revenue has been decreasing by -4.09% on average over the past years.
EPS 1Y (TTM)57.35%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%35.39%
Revenue 1Y (TTM)13.19%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%5.68%
3.2 Future
- NAS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 27.68% yearly.
- NAS is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.27% yearly.
EPS Next Y156.62%
EPS Next 2Y49.25%
EPS Next 3Y37.21%
EPS Next 5Y27.68%
Revenue Next Year6.76%
Revenue Next 2Y6.48%
Revenue Next 3Y5.95%
Revenue Next 5Y9.27%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- 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
- A Price/Earnings ratio of 7.90 indicates a rather cheap valuation of NAS.
- NAS's Price/Earnings is on the same level as the industry average.
- The average S&P500 Price/Earnings ratio is at 26.68. NAS is valued rather cheaply when compared to this.
- Based on the Price/Forward Earnings ratio of 7.91, the valuation of NAS can be described as very cheap.
- NAS's Price/Forward Earnings is on the same level as the industry average.
- The average S&P500 Price/Forward Earnings ratio is at 28.06. NAS is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.9 | ||
| Fwd PE | 7.91 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, NAS is valued a bit cheaper than the industry average as 78.57% of the companies are valued more expensively.
- NAS's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NAS is cheaper than 78.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.01 | ||
| EV/EBITDA | 2.5 |
4.3 Compensation for Growth
- NAS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- The decent profitability rating of NAS may justify a higher PE ratio.
- A more expensive valuation may be justified as NAS's earnings are expected to grow with 37.21% in the coming years.
PEG (NY)0.05
PEG (5Y)N/A
EPS Next 2Y49.25%
EPS Next 3Y37.21%
5. Dividend
5.1 Amount
- NAS does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
OSL:NAS (2/13/2026, 7:00:00 PM)
16.905
-0.15 (-0.88%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)02-13 2026-02-13/amc
Earnings (Next)04-28 2026-04-28
Inst Owners45.6%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap17.84B
Revenue(TTM)37.35B
Net Income(TTM)2.50B
Analysts76.36
Price Target18.41 (8.9%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
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)4.64%
PT rev (3m)7.76%
EPS NQ rev (1m)-80%
EPS NQ rev (3m)-80%
EPS NY rev (1m)7.32%
EPS NY rev (3m)7.61%
Revenue NQ rev (1m)-0.29%
Revenue NQ rev (3m)0.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.23%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.9 | ||
| Fwd PE | 7.91 | ||
| P/S | 0.48 | ||
| P/FCF | 6.01 | ||
| P/OCF | 2.32 | ||
| P/B | 2.32 | ||
| P/tB | 3.12 | ||
| EV/EBITDA | 2.5 |
EPS(TTM)2.14
EY12.66%
EPS(NY)2.14
Fwd EY12.65%
FCF(TTM)2.82
FCFY16.65%
OCF(TTM)7.29
OCFY43.12%
SpS35.4
BVpS7.28
TBVpS5.42
PEG (NY)0.05
PEG (5Y)N/A
Graham Number18.73
Profitability
| Industry Rank | Sector 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)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
ROICexgc growth 3YN/A
ROICexgc 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 Turnover0.89
Health
| Industry Rank | Sector 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-Score6
WACC8.94%
ROIC/WACC1.14
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)57.35%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%35.39%
EPS Next Y156.62%
EPS Next 2Y49.25%
EPS Next 3Y37.21%
EPS Next 5Y27.68%
Revenue 1Y (TTM)13.19%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%5.68%
Revenue Next Year6.76%
Revenue Next 2Y6.48%
Revenue Next 3Y5.95%
Revenue Next 5Y9.27%
EBIT growth 1Y57.72%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year282.93%
EBIT Next 3Y66.97%
EBIT Next 5Y45.55%
FCF growth 1Y-38.58%
FCF growth 3Y256.62%
FCF growth 5Y21.9%
OCF growth 1Y75.78%
OCF growth 3Y268.24%
OCF growth 5Y17.99%
NORWEGIAN AIR SHUTTLE AS / NAS.OL 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 8 / 10 to NORWEGIAN AIR SHUTTLE AS (NAS.OL). This can be considered as Undervalued.
Can you provide the profitability details for NORWEGIAN AIR SHUTTLE AS?
NORWEGIAN AIR SHUTTLE AS (NAS.OL) has a profitability rating of 6 / 10.
What is the earnings growth outlook for NORWEGIAN AIR SHUTTLE AS?
The Earnings per Share (EPS) of NORWEGIAN AIR SHUTTLE AS (NAS.OL) is expected to grow by 156.62% in the next year.