NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
Europe - OSL:NAS - NO0010196140 - Common Stock
15.605 NOK
-0.75 (-4.56%)
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 scores decently on growth, while it is valued quite cheap. This could make an interesting combination. With these ratings, NAS could be worth investigating further for value investing!.
1. Profitability
1.1 Basic Checks
NAS had positive earnings in the past year.
NAS had a positive operating cash flow in the past year.
Of the past 5 years NAS 4 years were profitable.
Of the past 5 years NAS 4 years had a positive operating cash flow.
1.2 Ratios
NAS's Return On Assets of 4.43% is fine compared to the rest of the industry. NAS outperforms 75.00% of its industry peers.
NAS has a better Return On Equity (33.08%) than 91.67% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.87%, NAS is in line with its industry, outperforming 41.67% of the companies in the same 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.
NAS's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 7.30%, NAS is doing good in the industry, outperforming 66.67% of the companies in the same industry.
NAS's Operating Margin has improved in the last couple of years.
NAS's Gross Margin of 52.12% is fine compared to the rest 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
NAS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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
NAS has a debt to FCF ratio of 3.54. This is a good value and a sign of high solvency as NAS would need 3.54 years to pay back of all of its debts.
NAS's Debt to FCF ratio of 3.54 is amongst the best of the industry. NAS outperforms 83.33% of its industry peers.
NAS has a Debt/Equity ratio of 1.98. This is a high value indicating a heavy dependency on external financing.
NAS has a Debt to Equity ratio of 1.98. This is comparable to the rest of the industry: NAS outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.98 | ||
| Debt/FCF | 3.54 | ||
| Altman-Z | N/A |
ROIC/WACC0.92
WACC8.54%
2.3 Liquidity
A Current Ratio of 1.08 indicates that NAS should not have too much problems paying its short term obligations.
NAS has a Current ratio of 1.08. This is amongst the best in the industry. NAS outperforms 100.00% of its industry peers.
A Quick Ratio of 1.06 indicates that NAS should not have too much problems paying its short term obligations.
NAS has a Quick ratio of 1.06. This is amongst the best in the industry. NAS outperforms 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!
NAS shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -4.09% yearly.
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
NAS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.13% 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 Y99.55%
EPS Next 2Y42.55%
EPS Next 3Y34.86%
EPS Next 5Y23.13%
Revenue Next Year6.56%
Revenue Next 2Y6.61%
Revenue Next 3Y6.59%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 10.33, the valuation of NAS can be described as very reasonable.
Based on the Price/Earnings ratio, NAS is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
NAS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.57.
Based on the Price/Forward Earnings ratio of 8.00, the valuation of NAS can be described as very cheap.
NAS's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. NAS is more expensive than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.09, NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.33 | ||
| Fwd PE | 8 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NAS indicates a somewhat cheap valuation: NAS is cheaper than 75.00% of the companies listed in the same industry.
75.00% of the companies in the same industry are more expensive than NAS, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.94 | ||
| EV/EBITDA | 2.41 |
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.
The decent profitability rating of NAS may justify a higher PE ratio.
NAS's earnings are expected to grow with 34.86% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y42.55%
EPS Next 3Y34.86%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
OSL:NAS (10/22/2025, 4:19:58 PM)
15.605
-0.75 (-4.56%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners35.88%
Inst Owner ChangeN/A
Ins Owners0.36%
Ins Owner ChangeN/A
Market Cap16.47B
Revenue(TTM)36.70B
Net Income(TTM)1.96B
Analysts74.55
Price Target16.58 (6.25%)
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%
PT rev (3m)-2.36%
EPS NQ rev (1m)0%
EPS NQ rev (3m)21.8%
EPS NY rev (1m)-3.72%
EPS NY rev (3m)9.58%
Revenue NQ rev (1m)-0.28%
Revenue NQ rev (3m)0.1%
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)3.5%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.33 | ||
| Fwd PE | 8 | ||
| P/S | 0.45 | ||
| P/FCF | 3.94 | ||
| P/OCF | 2.06 | ||
| P/B | 2.78 | ||
| P/tB | 4.63 | ||
| EV/EBITDA | 2.41 |
EPS(TTM)1.51
EY9.68%
EPS(NY)1.95
Fwd EY12.5%
FCF(TTM)3.96
FCFY25.37%
OCF(TTM)7.56
OCFY48.45%
SpS34.78
BVpS5.6
TBVpS3.37
PEG (NY)0.1
PEG (5Y)N/A
Graham Number13.8
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
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 Turnover0.83
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
WACC8.54%
ROIC/WACC0.92
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 Y99.55%
EPS Next 2Y42.55%
EPS Next 3Y34.86%
EPS Next 5Y23.13%
Revenue 1Y (TTM)21.58%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%10.08%
Revenue Next Year6.56%
Revenue Next 2Y6.61%
Revenue Next 3Y6.59%
Revenue Next 5Y9.27%
EBIT growth 1Y14.97%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year292.43%
EBIT Next 3Y68.31%
EBIT Next 5Y45.55%
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%