NORTH AMERICAN CONSTRUCTION (NOA.CA) Stock Fundamental Analysis
TSX:NOA • CA6568111067
23.1 CAD
+0.26 (+1.14%)
Last: Mar 2, 2026, 07:00 PM
We assign a fundamental rating of 3 out of 10 to NOA. NOA was compared to 27 industry peers in the Energy Equipment & Services industry. There are concerns on the financial health of NOA while its profitability can be described as average. NOA has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
- NOA had positive earnings in the past year.
- In the past year NOA had a positive cash flow from operations.
- In the past 5 years NOA has always been profitable.
- NOA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- NOA has a worse Return On Assets (2.06%) than 62.96% of its industry peers.
- NOA has a Return On Equity (8.18%) which is comparable to the rest of the industry.
- NOA has a Return On Invested Capital (5.59%) which is in line with its industry peers.
- NOA had an Average Return On Invested Capital over the past 3 years of 6.92%. This is significantly below the industry average of 170.14%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.06% | ||
| ROE | 8.18% | ||
| ROIC | 5.59% |
ROA(3y)4.52%
ROA(5y)5.07%
ROE(3y)17.02%
ROE(5y)17.87%
ROIC(3y)6.92%
ROIC(5y)5.82%
1.3 Margins
- The Profit Margin of NOA (3.00%) is comparable to the rest of the industry.
- NOA's Profit Margin has declined in the last couple of years.
- The Operating Margin of NOA (8.68%) is comparable to the rest of the industry.
- In the last couple of years the Operating Margin of NOA has grown nicely.
- NOA has a worse Gross Margin (12.88%) than 74.07% of its industry peers.
- NOA's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.68% | ||
| PM (TTM) | 3% | ||
| GM | 12.88% |
OM growth 3Y27.21%
OM growth 5Y10.09%
PM growth 3Y-21.64%
PM growth 5Y-5.91%
GM growth 3Y14.79%
GM growth 5Y6.09%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NOA is destroying value.
- NOA has about the same amout of shares outstanding than it did 1 year ago.
- NOA has more shares outstanding than it did 5 years ago.
- NOA has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.28, we must say that NOA is in the distress zone and has some risk of bankruptcy.
- NOA has a Altman-Z score of 1.28. This is in the lower half of the industry: NOA underperforms 70.37% of its industry peers.
- A Debt/Equity ratio of 1.59 is on the high side and indicates that NOA has dependencies on debt financing.
- Looking at the Debt to Equity ratio, with a value of 1.59, NOA is doing worse than 85.19% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.59 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.28 |
ROIC/WACC0.64
WACC8.77%
2.3 Liquidity
- NOA has a Current Ratio of 0.91. This is a bad value and indicates that NOA is not financially healthy enough and could expect problems in meeting its short term obligations.
- NOA's Current ratio of 0.91 is on the low side compared to the rest of the industry. NOA is outperformed by 81.48% of its industry peers.
- NOA has a Quick Ratio of 0.91. This is a bad value and indicates that NOA is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Quick ratio of NOA (0.73) is worse than 77.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.91 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
- NOA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.61%.
- Measured over the past years, NOA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 19.82% on average per year.
- Looking at the last year, NOA shows a quite strong growth in Revenue. The Revenue has grown by 8.24% in the last year.
- The Revenue has been growing by 10.15% on average over the past years. This is quite good.
EPS 1Y (TTM)-38.61%
EPS 3Y21.88%
EPS 5Y19.82%
EPS Q2Q%-42.74%
Revenue 1Y (TTM)8.24%
Revenue growth 3Y21.24%
Revenue growth 5Y10.15%
Sales Q2Q%10.59%
3.2 Future
- Based on estimates for the next years, NOA will show a decrease in Earnings Per Share. The EPS will decrease by -1.53% on average per year.
- The Revenue is expected to grow by 8.40% on average over the next years. This is quite good.
EPS Next Y-45.91%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
EPS Next 5YN/A
Revenue Next Year11.15%
Revenue Next 2Y9.95%
Revenue Next 3Y8.4%
Revenue Next 5YN/A
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 stable.
4. Valuation
4.1 Price/Earnings Ratio
- NOA is valuated reasonably with a Price/Earnings ratio of 10.45.
- Compared to the rest of the industry, the Price/Earnings ratio of NOA indicates a rather cheap valuation: NOA is cheaper than 85.19% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 27.13, NOA is valued rather cheaply.
- NOA is valuated cheaply with a Price/Forward Earnings ratio of 7.44.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of NOA indicates a rather cheap valuation: NOA is cheaper than 88.89% of the companies listed in the same industry.
- NOA is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.11, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.45 | ||
| Fwd PE | 7.44 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, NOA is valued a bit cheaper than 70.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.55 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)0.53
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
5. Dividend
5.1 Amount
- NOA has a Yearly Dividend Yield of 2.11%.
- NOA's Dividend Yield is a higher than the industry average which is at 1.01.
- NOA's Dividend Yield is comparable with the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.11% |
5.2 History
- On average, the dividend of NOA grows each year by 31.86%, which is quite nice.
- NOA has paid a dividend for at least 10 years, which is a reliable track record.
- NOA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)31.86%
Div Incr Years3
Div Non Decr Years10
5.3 Sustainability
- NOA pays out 32.95% of its income as dividend. This is a sustainable payout ratio.
DP32.95%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
TSX:NOA (3/2/2026, 7:00:00 PM)
23.1
+0.26 (+1.14%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)11-12 2025-11-12/amc
Earnings (Next)03-11 2026-03-11/bmo
Inst Owners66.82%
Inst Owner ChangeN/A
Ins Owners10.06%
Ins Owner ChangeN/A
Market Cap671.52M
Revenue(TTM)1.28B
Net Income(TTM)38.52M
Analysts80
Price Target30.19 (30.69%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.11% |
Yearly Dividend0.4
Dividend Growth(5Y)31.86%
DP32.95%
Div Incr Years3
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-59.29%
Min EPS beat(2)-97.55%
Max EPS beat(2)-21.03%
EPS beat(4)0
Avg EPS beat(4)-38.46%
Min EPS beat(4)-97.55%
Max EPS beat(4)-1.79%
EPS beat(8)2
Avg EPS beat(8)-19.74%
EPS beat(12)5
Avg EPS beat(12)-5.8%
EPS beat(16)6
Avg EPS beat(16)-7.94%
Revenue beat(2)0
Avg Revenue beat(2)-7.6%
Min Revenue beat(2)-9.99%
Max Revenue beat(2)-5.2%
Revenue beat(4)1
Avg Revenue beat(4)-2.45%
Min Revenue beat(4)-9.99%
Max Revenue beat(4)8.8%
Revenue beat(8)1
Avg Revenue beat(8)-5.8%
Revenue beat(12)3
Avg Revenue beat(12)-3.86%
Revenue beat(16)4
Avg Revenue beat(16)-3.79%
PT rev (1m)-2.26%
PT rev (3m)-3.18%
EPS NQ rev (1m)-17.82%
EPS NQ rev (3m)-3.38%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.68%
Revenue NQ rev (1m)-5.15%
Revenue NQ rev (3m)-3.98%
Revenue NY rev (1m)-1.04%
Revenue NY rev (3m)2.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.45 | ||
| Fwd PE | 7.44 | ||
| P/S | 0.52 | ||
| P/FCF | N/A | ||
| P/OCF | 2.19 | ||
| P/B | 1.43 | ||
| P/tB | 1.46 | ||
| EV/EBITDA | 4.55 |
EPS(TTM)2.21
EY9.57%
EPS(NY)3.11
Fwd EY13.44%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)10.54
OCFY45.64%
SpS44.18
BVpS16.21
TBVpS15.84
PEG (NY)N/A
PEG (5Y)0.53
Graham Number28.39
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.06% | ||
| ROE | 8.18% | ||
| ROCE | 7.62% | ||
| ROIC | 5.59% | ||
| ROICexc | 6.01% | ||
| ROICexgc | 6.06% | ||
| OM | 8.68% | ||
| PM (TTM) | 3% | ||
| GM | 12.88% | ||
| FCFM | N/A |
ROA(3y)4.52%
ROA(5y)5.07%
ROE(3y)17.02%
ROE(5y)17.87%
ROIC(3y)6.92%
ROIC(5y)5.82%
ROICexc(3y)7.45%
ROICexc(5y)6.21%
ROICexgc(3y)7.51%
ROICexgc(5y)6.25%
ROCE(3y)9.42%
ROCE(5y)7.93%
ROICexgc growth 3Y25.02%
ROICexgc growth 5Y5.06%
ROICexc growth 3Y24.95%
ROICexc growth 5Y4.89%
OM growth 3Y27.21%
OM growth 5Y10.09%
PM growth 3Y-21.64%
PM growth 5Y-5.91%
GM growth 3Y14.79%
GM growth 5Y6.09%
F-Score5
Asset Turnover0.69
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.59 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 2.33 | ||
| Cap/Depr | 149.18% | ||
| Cap/Sales | 24.33% | ||
| Interest Coverage | 1.53 | ||
| Cash Conversion | 95.49% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.91 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z | 1.28 |
F-Score5
WACC8.77%
ROIC/WACC0.64
Cap/Depr(3y)140.73%
Cap/Depr(5y)131.94%
Cap/Sales(3y)20.21%
Cap/Sales(5y)20.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.61%
EPS 3Y21.88%
EPS 5Y19.82%
EPS Q2Q%-42.74%
EPS Next Y-45.91%
EPS Next 2Y-8.75%
EPS Next 3Y-1.53%
EPS Next 5YN/A
Revenue 1Y (TTM)8.24%
Revenue growth 3Y21.24%
Revenue growth 5Y10.15%
Sales Q2Q%10.59%
Revenue Next Year11.15%
Revenue Next 2Y9.95%
Revenue Next 3Y8.4%
Revenue Next 5YN/A
EBIT growth 1Y-37.63%
EBIT growth 3Y54.22%
EBIT growth 5Y21.26%
EBIT Next Year96.94%
EBIT Next 3Y30.23%
EBIT Next 5Y22.48%
FCF growth 1Y-113.45%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y63.34%
OCF growth 3Y9.62%
OCF growth 5Y6.62%
NORTH AMERICAN CONSTRUCTION / NOA.CA FAQ
What is the ChartMill fundamental rating of NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?
ChartMill assigns a fundamental rating of 3 / 10 to NOA.CA.
What is the valuation status for NOA stock?
ChartMill assigns a valuation rating of 5 / 10 to NORTH AMERICAN CONSTRUCTION (NOA.CA). This can be considered as Fairly Valued.
What is the profitability of NOA stock?
NORTH AMERICAN CONSTRUCTION (NOA.CA) has a profitability rating of 4 / 10.
What is the expected EPS growth for NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?
The Earnings per Share (EPS) of NORTH AMERICAN CONSTRUCTION (NOA.CA) is expected to decline by -45.91% in the next year.
How sustainable is the dividend of NORTH AMERICAN CONSTRUCTION (NOA.CA) stock?
The dividend rating of NORTH AMERICAN CONSTRUCTION (NOA.CA) is 6 / 10 and the dividend payout ratio is 32.95%.