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NORCONSULT AS (NORCO.OL) Stock Fundamental Analysis

OSL:NORCO - NO0013052209 - Common Stock

46.1 NOK
+0.8 (+1.77%)
Last: 8/28/2025, 4:19:44 PM
Fundamental Rating

5

Overall NORCO gets a fundamental rating of 5 out of 10. We evaluated NORCO against 41 industry peers in the Construction & Engineering industry. NORCO is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. NORCO is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year NORCO was profitable.
In the past year NORCO had a positive cash flow from operations.
NORCO.OL Yearly Net Income VS EBIT VS OCF VS FCFNORCO.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 2024 500M 1B

1.2 Ratios

With an excellent Return On Assets value of 8.94%, NORCO belongs to the best of the industry, outperforming 82.93% of the companies in the same industry.
NORCO has a better Return On Equity (23.25%) than 73.17% of its industry peers.
NORCO has a Return On Invested Capital of 14.89%. This is amongst the best in the industry. NORCO outperforms 80.49% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NORCO is above the industry average of 10.29%.
The 3 year average ROIC (14.25%) for NORCO is below the current ROIC(14.89%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 8.94%
ROE 23.25%
ROIC 14.89%
ROA(3y)7.44%
ROA(5y)N/A
ROE(3y)21.57%
ROE(5y)N/A
ROIC(3y)14.25%
ROIC(5y)N/A
NORCO.OL Yearly ROA, ROE, ROICNORCO.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 5 10 15 20

1.3 Margins

With a decent Profit Margin value of 6.05%, NORCO is doing good in the industry, outperforming 63.41% of the companies in the same industry.
NORCO's Profit Margin has been stable in the last couple of years.
NORCO has a Operating Margin (7.02%) which is in line with its industry peers.
In the last couple of years the Operating Margin of NORCO has declined.
Industry RankSector Rank
OM 7.02%
PM (TTM) 6.05%
GM N/A
OM growth 3Y-13.94%
OM growth 5YN/A
PM growth 3Y0.99%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
NORCO.OL Yearly Profit, Operating, Gross MarginsNORCO.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 2024 2 4 6 8

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7

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NORCO is creating value.
The number of shares outstanding for NORCO has been increased compared to 1 year ago.
Compared to 1 year ago, NORCO has an improved debt to assets ratio.
NORCO.OL Yearly Shares OutstandingNORCO.OL Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 100M 200M 300M
NORCO.OL Yearly Total Debt VS Total AssetsNORCO.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

An Altman-Z score of 4.38 indicates that NORCO is not in any danger for bankruptcy at the moment.
NORCO's Altman-Z score of 4.38 is amongst the best of the industry. NORCO outperforms 95.12% of its industry peers.
The Debt to FCF ratio of NORCO is 1.43, which is an excellent value as it means it would take NORCO, only 1.43 years of fcf income to pay off all of its debts.
NORCO has a Debt to FCF ratio of 1.43. This is amongst the best in the industry. NORCO outperforms 80.49% of its industry peers.
A Debt/Equity ratio of 0.44 indicates that NORCO is not too dependend on debt financing.
The Debt to Equity ratio of NORCO (0.44) is better than 60.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 1.43
Altman-Z 4.38
ROIC/WACC1.88
WACC7.93%
NORCO.OL Yearly LT Debt VS Equity VS FCFNORCO.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.3 Liquidity

A Current Ratio of 1.37 indicates that NORCO should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.37, NORCO is in the better half of the industry, outperforming 73.17% of the companies in the same industry.
NORCO has a Quick Ratio of 1.37. This is a normal value and indicates that NORCO is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.37, NORCO belongs to the top of the industry, outperforming 82.93% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 1.37
NORCO.OL Yearly Current Assets VS Current LiabilitesNORCO.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 1B 2B 3B 4B

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5

3. Growth

3.1 Past

NORCO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 76.43%, which is quite impressive.
NORCO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.47% yearly.
Looking at the last year, NORCO shows a quite strong growth in Revenue. The Revenue has grown by 11.89% in the last year.
NORCO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.09% yearly.
EPS 1Y (TTM)76.43%
EPS 3Y14.47%
EPS 5YN/A
EPS Q2Q%39.34%
Revenue 1Y (TTM)11.89%
Revenue growth 3Y12.09%
Revenue growth 5YN/A
Sales Q2Q%11.86%

3.2 Future

Based on estimates for the next years, NORCO will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.50% on average per year.
Based on estimates for the next years, NORCO will show a small growth in Revenue. The Revenue will grow by 6.68% on average per year.
EPS Next Y5.9%
EPS Next 2Y1.58%
EPS Next 3Y9.5%
EPS Next 5YN/A
Revenue Next Year5.55%
Revenue Next 2Y7.25%
Revenue Next 3Y6.68%
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 decreasing.
NORCO.OL Yearly Revenue VS EstimatesNORCO.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B 10B
NORCO.OL Yearly EPS VS EstimatesNORCO.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 1 2 3

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 15.84, which indicates a correct valuation of NORCO.
The rest of the industry has a similar Price/Earnings ratio as NORCO.
Compared to an average S&P500 Price/Earnings ratio of 27.14, NORCO is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 16.76, the valuation of NORCO can be described as correct.
Based on the Price/Forward Earnings ratio, NORCO is valued a bit more expensive than 65.85% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.80, NORCO is valued a bit cheaper.
Industry RankSector Rank
PE 15.84
Fwd PE 16.76
NORCO.OL Price Earnings VS Forward Price EarningsNORCO.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, NORCO is valued a bit more expensive than the industry average as 63.41% of the companies are valued more cheaply.
The rest of the industry has a similar Price/Free Cash Flow ratio as NORCO.
Industry RankSector Rank
P/FCF 13.11
EV/EBITDA 11.37
NORCO.OL Per share dataNORCO.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NORCO does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.69
PEG (5Y)N/A
EPS Next 2Y1.58%
EPS Next 3Y9.5%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.82%, NORCO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.73, NORCO pays a bit more dividend than its industry peers.
NORCO's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
Industry RankSector Rank
Dividend Yield 3.82%

5.2 History

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

5.3 Sustainability

NORCO pays out 52.85% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP52.85%
EPS Next 2Y1.58%
EPS Next 3Y9.5%
NORCO.OL Yearly Income VS Free CF VS DividendNORCO.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2021 2022 2023 2024 200M 400M 600M 800M 1B
NORCO.OL Dividend Payout.NORCO.OL Dividend Payout, showing the Payout Ratio.NORCO.OL Dividend Payout.PayoutRetained Earnings

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NORCONSULT AS

OSL:NORCO (8/28/2025, 4:19:44 PM)

46.1

+0.8 (+1.77%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)08-20 2025-08-20
Earnings (Next)11-05 2025-11-05
Inst Owners27.86%
Inst Owner ChangeN/A
Ins Owners2.05%
Ins Owner ChangeN/A
Market Cap14.64B
Analysts78.46
Price Target53.04 (15.05%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.82%
Yearly Dividend1.17
Dividend Growth(5Y)N/A
DP52.85%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)10.83%
Min EPS beat(2)-8.31%
Max EPS beat(2)29.97%
EPS beat(4)3
Avg EPS beat(4)24.9%
Min EPS beat(4)-8.31%
Max EPS beat(4)52.17%
EPS beat(8)N/A
Avg EPS beat(8)N/A
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)6.01%
Min Revenue beat(2)3.77%
Max Revenue beat(2)8.24%
Revenue beat(4)4
Avg Revenue beat(4)7.78%
Min Revenue beat(4)3.77%
Max Revenue beat(4)11.08%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)1.96%
PT rev (3m)4.63%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-26.51%
EPS NY rev (1m)13.98%
EPS NY rev (3m)13.98%
Revenue NQ rev (1m)-0.08%
Revenue NQ rev (3m)-5.56%
Revenue NY rev (1m)-2.43%
Revenue NY rev (3m)-2.43%
Valuation
Industry RankSector Rank
PE 15.84
Fwd PE 16.76
P/S 1.36
P/FCF 13.11
P/OCF 11.62
P/B 5.25
P/tB 9.22
EV/EBITDA 11.37
EPS(TTM)2.91
EY6.31%
EPS(NY)2.75
Fwd EY5.97%
FCF(TTM)3.52
FCFY7.63%
OCF(TTM)3.97
OCFY8.61%
SpS33.78
BVpS8.79
TBVpS5
PEG (NY)2.69
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 8.94%
ROE 23.25%
ROCE 18.12%
ROIC 14.89%
ROICexc 22.45%
ROICexgc 39.83%
OM 7.02%
PM (TTM) 6.05%
GM N/A
FCFM 10.41%
ROA(3y)7.44%
ROA(5y)N/A
ROE(3y)21.57%
ROE(5y)N/A
ROIC(3y)14.25%
ROIC(5y)N/A
ROICexc(3y)21.92%
ROICexc(5y)N/A
ROICexgc(3y)41.21%
ROICexgc(5y)N/A
ROCE(3y)17.33%
ROCE(5y)N/A
ROICexcg growth 3Y3.19%
ROICexcg growth 5YN/A
ROICexc growth 3Y-5.47%
ROICexc growth 5YN/A
OM growth 3Y-13.94%
OM growth 5YN/A
PM growth 3Y0.99%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover1.48
Health
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 1.43
Debt/EBITDA 0.98
Cap/Depr 29.01%
Cap/Sales 1.33%
Interest Coverage 15.37
Cash Conversion 101.12%
Profit Quality 172.11%
Current Ratio 1.37
Quick Ratio 1.37
Altman-Z 4.38
F-Score8
WACC7.93%
ROIC/WACC1.88
Cap/Depr(3y)22.21%
Cap/Depr(5y)N/A
Cap/Sales(3y)1.06%
Cap/Sales(5y)N/A
Profit Quality(3y)208.74%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)76.43%
EPS 3Y14.47%
EPS 5YN/A
EPS Q2Q%39.34%
EPS Next Y5.9%
EPS Next 2Y1.58%
EPS Next 3Y9.5%
EPS Next 5YN/A
Revenue 1Y (TTM)11.89%
Revenue growth 3Y12.09%
Revenue growth 5YN/A
Sales Q2Q%11.86%
Revenue Next Year5.55%
Revenue Next 2Y7.25%
Revenue Next 3Y6.68%
Revenue Next 5YN/A
EBIT growth 1Y70.36%
EBIT growth 3Y-3.54%
EBIT growth 5YN/A
EBIT Next Year83.21%
EBIT Next 3Y28.61%
EBIT Next 5YN/A
FCF growth 1Y20.5%
FCF growth 3Y17.62%
FCF growth 5YN/A
OCF growth 1Y22.09%
OCF growth 3Y17.66%
OCF growth 5YN/A