NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
OSL:NAS - Euronext Oslo - NO0010196140 - Common Stock - Currency: NOK
We assign a fundamental rating of 4 out of 10 to NAS. NAS was compared to 12 industry peers in the Passenger Airlines industry. NAS has only an average score on both its financial health and profitability. NAS has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
NAS had positive earnings in the past year.
In the past year NAS had a positive cash flow from operations.
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 has a Return On Assets (3.83%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 24.42%, NAS belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
NAS has a better Return On Invested Capital (7.09%) than 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 24.42% | ||
| ROIC | 7.09% |
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 4.20%, NAS is in line with its industry, outperforming 58.33% of the companies in the same industry.
In the last couple of years the Profit Margin of NAS has declined.
NAS's Operating Margin of 5.66% is in line compared to the rest of the industry. NAS outperforms 58.33% of its industry peers.
In the last couple of years the Operating Margin of NAS has grown nicely.
With a decent Gross Margin value of 51.61%, NAS is doing good in the industry, outperforming 66.67% of the companies in the same industry.
In the last couple of years the Gross Margin of NAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5.66% | ||
| PM (TTM) | 4.2% | ||
| GM | 51.61% |
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.
The debt/assets ratio for NAS has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of NAS is 4.16, which is a neutral value as it means it would take NAS, 4.16 years of fcf income to pay off all of its debts.
NAS has a Debt to FCF ratio of 4.16. This is amongst the best in the industry. NAS outperforms 83.33% of its industry peers.
A Debt/Equity ratio of 1.70 is on the high side and indicates that NAS has dependencies on debt financing.
NAS has a Debt to Equity ratio (1.70) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 4.16 | ||
| Altman-Z | N/A |
ROIC/WACC0.86
WACC8.28%
2.3 Liquidity
A Current Ratio of 0.88 indicates that NAS may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.88, NAS belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
A Quick Ratio of 0.85 indicates that NAS may have some problems paying its short term obligations.
NAS's Quick ratio of 0.85 is amongst the best of the industry. NAS outperforms 91.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
The earnings per share for NAS have decreased strongly by -23.45% in the last year.
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 very strong growth in Revenue. The Revenue has grown by 29.04%.
NAS shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -4.09% yearly.
EPS 1Y (TTM)-23.45%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%15.46%
Revenue 1Y (TTM)29.04%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%7.12%
3.2 Future
Based on estimates for the next years, NAS will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.53% on average per year.
The Revenue is expected to grow by 6.14% on average over the next years.
EPS Next Y82.1%
EPS Next 2Y38.97%
EPS Next 3Y26.79%
EPS Next 5Y18.53%
Revenue Next Year2.95%
Revenue Next 2Y6.51%
Revenue Next 3Y6.1%
Revenue Next 5Y6.14%
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 12.43, NAS is valued correctly.
Compared to the rest of the industry, the Price/Earnings ratio of NAS indicates a slightly more expensive valuation: NAS is more expensive than 75.00% of the companies listed in the same industry.
NAS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.20.
With a Price/Forward Earnings ratio of 7.44, the valuation of NAS can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NAS indicates a slightly more expensive valuation: NAS is more expensive than 75.00% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.13. NAS is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.43 | ||
| Fwd PE | 7.44 |
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.
NAS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. NAS is cheaper than 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.98 | ||
| EV/EBITDA | 2.45 |
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.
A more expensive valuation may be justified as NAS's earnings are expected to grow with 26.79% in the coming years.
PEG (NY)0.15
PEG (5Y)N/A
EPS Next 2Y38.97%
EPS Next 3Y26.79%
5. Dividend
5.1 Amount
No dividends for NAS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
OSL:NAS (5/28/2025, 7:00:00 PM)
13.8
+0.14 (+0.99%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryPassenger Airlines
Earnings (Last)
Earnings (Next)
Inst Owners35.71%
Inst Owner ChangeN/A
Ins Owners0.38%
Ins Owner ChangeN/A
Market Cap13.30B
Analysts80
Price Target14.85 (7.61%)
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)1
Avg EPS beat(2)-22.12%
Min EPS beat(2)-52.76%
Max EPS beat(2)8.52%
EPS beat(4)2
Avg EPS beat(4)9.57%
Min EPS beat(4)-52.76%
Max EPS beat(4)89.02%
EPS beat(8)4
Avg EPS beat(8)23.48%
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)3.21%
Min Revenue beat(2)1.64%
Max Revenue beat(2)4.79%
Revenue beat(4)3
Avg Revenue beat(4)1.83%
Min Revenue beat(4)-0.58%
Max Revenue beat(4)4.79%
Revenue beat(8)7
Avg Revenue beat(8)3.49%
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)4.48%
PT rev (3m)8.88%
EPS NQ rev (1m)7.95%
EPS NQ rev (3m)39.32%
EPS NY rev (1m)0%
EPS NY rev (3m)12.52%
Revenue NQ rev (1m)9.53%
Revenue NQ rev (3m)22.88%
Revenue NY rev (1m)-0.7%
Revenue NY rev (3m)-1.3%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.43 | ||
| Fwd PE | 7.44 | ||
| P/S | 0.37 | ||
| P/FCF | 3.98 | ||
| P/OCF | 1.87 | ||
| P/B | 2.16 | ||
| P/tB | 3.57 | ||
| EV/EBITDA | 2.45 |
EPS(TTM)1.11
EY8.04%
EPS(NY)1.85
Fwd EY13.44%
FCF(TTM)3.47
FCFY25.11%
OCF(TTM)7.39
OCFY53.57%
SpS37.09
BVpS6.38
TBVpS3.87
PEG (NY)0.15
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.83% | ||
| ROE | 24.42% | ||
| ROCE | 9.21% | ||
| ROIC | 7.09% | ||
| ROICexc | 13.53% | ||
| ROICexgc | 17.13% | ||
| OM | 5.66% | ||
| PM (TTM) | 4.2% | ||
| GM | 51.61% | ||
| FCFM | 9.34% |
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 Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 4.16 | ||
| Debt/EBITDA | 1.63 | ||
| Cap/Depr | 86.24% | ||
| Cap/Sales | 10.59% | ||
| Interest Coverage | 1.92 | ||
| Cash Conversion | 111.1% | ||
| Profit Quality | 222.36% | ||
| Current Ratio | 0.88 | ||
| Quick Ratio | 0.85 | ||
| Altman-Z | N/A |
F-Score6
WACC8.28%
ROIC/WACC0.86
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)-23.45%
EPS 3Y-23.42%
EPS 5YN/A
EPS Q2Q%15.46%
EPS Next Y82.1%
EPS Next 2Y38.97%
EPS Next 3Y26.79%
EPS Next 5Y18.53%
Revenue 1Y (TTM)29.04%
Revenue growth 3Y91.01%
Revenue growth 5Y-4.09%
Sales Q2Q%7.12%
Revenue Next Year2.95%
Revenue Next 2Y6.51%
Revenue Next 3Y6.1%
Revenue Next 5Y6.14%
EBIT growth 1Y-15.15%
EBIT growth 3YN/A
EBIT growth 5Y20.92%
EBIT Next Year262.27%
EBIT Next 3Y66.54%
EBIT Next 5Y45.02%
FCF growth 1Y-9.69%
FCF growth 3Y256.62%
FCF growth 5Y21.9%
OCF growth 1Y81.2%
OCF growth 3Y268.24%
OCF growth 5Y17.99%