NORWEGIAN AIR SHUTTLE AS (NAS.OL) Stock Fundamental Analysis
Europe - OSL:NAS - NO0010196140 - Common Stock
16.33 NOK
-0.44 (-2.62%)
Overall NAS gets a fundamental rating of 5 out of 10. We evaluated NAS against 12 industry peers in the Passenger Airlines industry. NAS has only an average score on both its financial health and profitability. A decent growth rate in combination with a cheap valuation! Better keep an eye on NAS. These ratings would make NAS suitable for value investing!
1. Profitability
1.1 Basic Checks
In the past year NAS was profitable.
In the past year NAS had a positive cash flow from operations.
NAS had positive earnings in 4 of the past 5 years.
Of the past 5 years NAS 4 years had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 4.43%, NAS is doing good in the industry, outperforming 75.00% of the companies in the same industry.
With an excellent Return On Equity value of 33.08%, NAS belongs to the best of the industry, outperforming 91.67% of the companies in the same industry.
The Return On Invested Capital of NAS (7.87%) is comparable to the rest of the 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
NAS's Profit Margin of 5.33% is fine compared to the rest of the industry. NAS outperforms 66.67% of its industry peers.
In the last couple of years the Profit Margin of NAS has declined.
The Operating Margin of NAS (7.30%) is better than 66.67% of its industry peers.
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.
In the last couple of years the Gross Margin of NAS has grown nicely.
| 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NAS is destroying value.
The number of shares outstanding for NAS has been increased compared to 1 year ago.
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 3.54, which is a good value as it means it would take NAS, 3.54 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of NAS (3.54) is better than 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
WACC8.53%
2.3 Liquidity
A Current Ratio of 1.08 indicates that NAS should not have too much problems paying its short term obligations.
The Current ratio of NAS (1.08) is better than 100.00% of its industry peers.
NAS has a Quick Ratio of 1.06. This is a normal value and indicates that NAS is financially healthy and should not expect problems in meeting its short term obligations.
NAS has a better Quick ratio (1.06) than 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.
The earnings per share for NAS have been decreasing by -23.42% on average. This is quite bad
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
The Earnings Per Share is expected to grow by 23.13% on average over the next years. This is a very strong growth
Based on estimates for the next years, NAS will show a quite strong growth in Revenue. The Revenue will grow by 9.27% on average per year.
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.
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
With a Price/Earnings ratio of 10.81, the valuation of NAS can be described as very reasonable.
Based on the Price/Earnings ratio, NAS is valued a bit more expensive than 75.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.77, NAS is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 8.37, the valuation of NAS can be described as reasonable.
Based on the Price/Forward Earnings ratio, NAS is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.23, NAS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.81 | ||
| Fwd PE | 8.37 |
4.2 Price Multiples
75.00% of the companies in the same industry are more expensive than NAS, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NAS indicates a somewhat cheap valuation: NAS is cheaper than 75.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.12 | ||
| EV/EBITDA | 2.48 |
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.
NAS has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as NAS's earnings are expected to grow with 34.86% in the coming years.
PEG (NY)0.11
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 (10/21/2025, 4:19:56 PM)
16.33
-0.44 (-2.62%)
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 Cap17.23B
Analysts74.55
Price Target16.58 (1.53%)
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 | 10.81 | ||
| Fwd PE | 8.37 | ||
| P/S | 0.47 | ||
| P/FCF | 4.12 | ||
| P/OCF | 2.16 | ||
| P/B | 2.91 | ||
| P/tB | 4.84 | ||
| EV/EBITDA | 2.48 |
EPS(TTM)1.51
EY9.25%
EPS(NY)1.95
Fwd EY11.95%
FCF(TTM)3.96
FCFY24.24%
OCF(TTM)7.56
OCFY46.3%
SpS34.78
BVpS5.6
TBVpS3.37
PEG (NY)0.11
PEG (5Y)N/A
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
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 Turnover0.83
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
WACC8.53%
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%