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

OSL:NAS • NO0010196140

Current stock price

14.93 NOK
+0.23 (+1.56%)
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

  • In the past year NAS was profitable.
  • In the past year NAS had a positive cash flow from operations.
  • Each year in the past 5 years NAS has been profitable.
  • In the past 5 years NAS always reported a positive cash flow from operatings.
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's Return On Assets of 5.96% is fine compared to the rest 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.
  • NAS's Return On Invested Capital of 10.23% is amongst the best of the industry. NAS outperforms 81.25% of its industry peers.
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

  • With a decent Profit Margin value of 6.70%, NAS is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • NAS's Profit Margin has improved in the last couple of years.
  • The Operating Margin of NAS (9.68%) is better than 81.25% of its industry peers.
  • Looking at the Gross Margin, with a value of 52.55%, NAS is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
  • In the last couple of years the Gross Margin of NAS has grown nicely.
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.
  • NAS has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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's Debt to FCF ratio of 4.96 is fine compared to the rest 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.
  • With a Debt to Equity ratio value of 1.49, NAS perfoms like the industry average, outperforming 43.75% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 4.96
Altman-Z N/A
ROIC/WACC0.93
WACC10.97%
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

  • A Current Ratio of 1.03 indicates that NAS should not have too much problems paying its short term obligations.
  • NAS's Current ratio of 1.03 is amongst the best of the industry. NAS outperforms 87.50% of its industry peers.
  • 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 has a Quick ratio of 0.99. This is amongst the best in 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. NAS.OL Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 148.96% over the past year.
  • The Earnings Per Share has been growing by 42.15% on average over the past years. This is a very strong growth
  • Looking at the last year, NAS shows a small growth in Revenue. The Revenue has grown by 6.59% in the last year.
  • NAS shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 32.85% yearly.
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

  • With a Price/Earnings ratio of 6.25, the valuation of NAS can be described as very cheap.
  • NAS's Price/Earnings ratio is a bit cheaper when compared to the industry. NAS is cheaper than 68.75% of the companies in the same industry.
  • NAS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.11.
  • A Price/Forward Earnings ratio of 6.90 indicates a rather cheap valuation of NAS.
  • 62.50% of the companies in the same industry are cheaper than NAS, based on the Price/Forward Earnings ratio.
  • NAS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.12.
Industry RankSector Rank
PE 6.25
Fwd PE 6.9
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

  • 81.25% 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 RankSector Rank
P/FCF 5.3
EV/EBITDA 2.2
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

  • The decent profitability rating of NAS 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

  • With a Yearly Dividend Yield of 5.53%, NAS is a good candidate for dividend investing.
  • 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.
  • Compared to an average S&P500 Dividend Yield of 1.91, NAS pays a better dividend.
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 (3/17/2026, 7:00:00 PM)

14.93

+0.23 (+1.56%)

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 Cap15.75B
Revenue(TTM)37.64B
Net Income(TTM)2.50B
Analysts75
Price Target19.38 (29.81%)
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 6.25
Fwd PE 6.9
P/S 0.42
P/FCF 5.3
P/OCF 2.05
P/B 2.05
P/tB 2.75
EV/EBITDA 2.2
EPS(TTM)2.39
EY16.01%
EPS(NY)2.16
Fwd EY14.49%
FCF(TTM)2.82
FCFY18.85%
OCF(TTM)7.29
OCFY48.82%
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
WACC10.97%
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.