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

OSL:NAS • NO0010196140

Current stock price

14.255 NOK
-0.64 (-4.3%)
Last:

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

7

1. NAS.OL Profitability Analysis

1.1 Basic Checks

  • NAS had positive earnings in the past year.
  • NAS had a positive operating cash flow in the past year.
  • In the past 5 years NAS has always been profitable.
  • Each year in the past 5 years NAS had a positive operating cash flow.
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

  • NAS has a Return On Assets of 5.96%. This is in the better half of the industry: NAS outperforms 75.00% of its industry peers.
  • NAS has a Return On Equity of 32.55%. This is in the better half of the industry: NAS outperforms 75.00% of its industry peers.
  • With an excellent Return On Invested Capital value of 10.23%, NAS belongs to the best of the industry, outperforming 81.25% of the companies in the same industry.
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

  • NAS has a better Profit Margin (6.70%) than 75.00% of its industry peers.
  • NAS's Profit Margin has improved in the last couple of years.
  • NAS has a better Operating Margin (9.68%) than 81.25% of its industry peers.
  • With a decent Gross Margin value of 52.55%, NAS is doing good in the industry, outperforming 62.50% of the companies in the same industry.
  • NAS's Gross Margin has improved in the last couple of years.
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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4

2. NAS.OL Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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.
  • NAS has a Debt to FCF ratio of 4.96. This is in the better half of the industry: NAS outperforms 68.75% of its industry peers.
  • A Debt/Equity ratio of 1.49 is on the high side and indicates that NAS has dependencies on debt financing.
  • NAS has a Debt to Equity ratio (1.49) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 4.96
Altman-Z N/A
ROIC/WACC0.93
WACC11.06%
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.
  • Looking at the Current ratio, with a value of 1.03, NAS belongs to the top of the industry, outperforming 87.50% of the companies in the same industry.
  • NAS has a Quick Ratio of 1.03. This is a bad value and indicates that NAS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NAS's Quick ratio of 0.99 is amongst the best of the industry. NAS outperforms 87.50% 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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6

3. NAS.OL Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 148.96% over the past year.
  • 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.
  • Looking at the last year, NAS shows a small growth in Revenue. The Revenue has grown by 6.59% in the last year.
  • 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

  • Based on estimates for the next years, NAS will show a small growth in Earnings Per Share. The EPS will grow by 6.77% on average per year.
  • The Revenue is expected to grow by 9.19% on average over the next years. This is quite good.
EPS Next Y-9.49%
EPS Next 2Y0.95%
EPS Next 3Y3.52%
EPS Next 5Y6.77%
Revenue Next Year6.41%
Revenue Next 2Y5.85%
Revenue Next 3Y5.89%
Revenue Next 5Y9.19%

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 decreasing.
  • 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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6

4. NAS.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 5.96, which indicates a rather cheap valuation of NAS.
  • 68.75% of the companies in the same industry are more expensive than NAS, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 25.73, NAS is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 6.59, the valuation of NAS can be described as very cheap.
  • NAS's Price/Forward Earnings is on the same level as the industry average.
  • NAS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.72.
Industry RankSector Rank
PE 5.96
Fwd PE 6.59
NAS.OL Price Earnings VS Forward Price EarningsNAS.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NAS is valued cheaper than 81.25% 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 75.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.06
EV/EBITDA 2.22
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 2Y0.95%
EPS Next 3Y3.52%

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

6

5. NAS.OL Dividend Analysis

5.1 Amount

  • NAS has a Yearly Dividend Yield of 5.53%, which is a nice return.
  • NAS's Dividend Yield is rather good when compared to the industry average which is at 1.37. NAS pays more dividend than 100.00% of the companies in the same industry.
  • NAS's Dividend Yield is rather good when compared to the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 5.53%

5.2 History

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

5.3 Sustainability

DPN/A
EPS Next 2Y0.95%
EPS Next 3Y3.52%
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 (3/19/2026, 7:00:00 PM)

14.255

-0.64 (-4.3%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)02-13
Earnings (Next)04-28
Inst Owners46.35%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap15.04B
Revenue(TTM)37.64B
Net Income(TTM)2.50B
Analysts75
Price Target19.38 (35.95%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.53%
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)5.26%
PT rev (3m)10.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-80%
EPS NY rev (1m)1.15%
EPS NY rev (3m)3.88%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.76%
Revenue NY rev (1m)0.21%
Revenue NY rev (3m)0.4%
Valuation
Industry RankSector Rank
PE 5.96
Fwd PE 6.59
P/S 0.4
P/FCF 5.06
P/OCF 1.96
P/B 1.96
P/tB 2.63
EV/EBITDA 2.22
EPS(TTM)2.39
EY16.77%
EPS(NY)2.16
Fwd EY15.17%
FCF(TTM)2.82
FCFY19.75%
OCF(TTM)7.29
OCFY51.13%
SpS35.4
BVpS7.28
TBVpS5.42
PEG (NY)N/A
PEG (5Y)N/A
Graham Number19.79
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
WACC11.06%
ROIC/WACC0.93
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-9.49%
EPS Next 2Y0.95%
EPS Next 3Y3.52%
EPS Next 5Y6.77%
Revenue 1Y (TTM)6.59%
Revenue growth 3Y25.89%
Revenue growth 5Y32.85%
Sales Q2Q%3.52%
Revenue Next Year6.41%
Revenue Next 2Y5.85%
Revenue Next 3Y5.89%
Revenue Next 5Y9.19%
EBIT growth 1Y57.72%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year148.01%
EBIT Next 3Y42.03%
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 6 / 10 to NAS.OL.


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

ChartMill assigns a valuation rating of 6 / 10 to NORWEGIAN AIR SHUTTLE AS (NAS.OL). This can be considered as Fairly Valued.


Can you provide the profitability details for NORWEGIAN AIR SHUTTLE AS?

NORWEGIAN AIR SHUTTLE AS (NAS.OL) has a profitability rating of 7 / 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 decline by -9.49% in the next year.