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NORCONSULT AS (NORCO.OL) Stock Fundamental Analysis

OSL:NORCO - Euronext Oslo - NO0013052209 - Common Stock - Currency: NOK

45.2  -1 (-2.16%)

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. While NORCO has a great health rating, its profitability is only average at the moment. NORCO is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

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

NORCO has a better Return On Assets (6.96%) than 80.49% of its industry peers.
NORCO's Return On Equity of 19.55% is fine compared to the rest of the industry. NORCO outperforms 68.29% of its industry peers.
NORCO has a Return On Invested Capital of 11.90%. This is in the better half of the industry: NORCO outperforms 68.29% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NORCO is above the industry average of 10.42%.
Industry RankSector Rank
ROA 6.96%
ROE 19.55%
ROIC 11.9%
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 4.75%, 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.
Looking at the Operating Margin, with a value of 5.46%, NORCO is in line with its industry, outperforming 58.54% of the companies in the same industry.
In the last couple of years the Operating Margin of NORCO has declined.
Industry RankSector Rank
OM 5.46%
PM (TTM) 4.75%
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

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NORCO is still creating some value.
NORCO has more shares outstanding than it did 1 year ago.
The debt/assets ratio for NORCO has been reduced compared to a year ago.
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

NORCO has an Altman-Z score of 4.16. This indicates that NORCO is financially healthy and has little risk of bankruptcy at the moment.
NORCO's Altman-Z score of 4.16 is amongst the best of the industry. NORCO outperforms 92.68% of its industry peers.
The Debt to FCF ratio of NORCO is 1.15, which is an excellent value as it means it would take NORCO, only 1.15 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of NORCO (1.15) is better than 92.68% of its industry peers.
NORCO has a Debt/Equity ratio of 0.49. This is a healthy value indicating a solid balance between debt and equity.
NORCO has a Debt to Equity ratio of 0.49. This is comparable to the rest of the industry: NORCO outperforms 56.10% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.49
Debt/FCF 1.15
Altman-Z 4.16
ROIC/WACC1.5
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

NORCO has a Current Ratio of 1.29. 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 Current ratio, with a value of 1.29, NORCO is in the better half of the industry, outperforming 73.17% of the companies in the same industry.
A Quick Ratio of 1.29 indicates that NORCO should not have too much problems paying its short term obligations.
NORCO's Quick ratio of 1.29 is fine compared to the rest of the industry. NORCO outperforms 78.05% of its industry peers.
Industry RankSector Rank
Current Ratio 1.29
Quick Ratio 1.29
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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4

3. Growth

3.1 Past

NORCO shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.29%.
Measured over the past years, NORCO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.47% on average per year.
Looking at the last year, NORCO shows a quite strong growth in Revenue. The Revenue has grown by 8.85% in the last year.
The Revenue has been growing by 12.09% on average over the past years. This is quite good.
EPS 1Y (TTM)-9.29%
EPS 3Y14.47%
EPS 5YN/A
EPS Q2Q%39.34%
Revenue 1Y (TTM)8.85%
Revenue growth 3Y12.09%
Revenue growth 5YN/A
Sales Q2Q%11.86%

3.2 Future

The Earnings Per Share is expected to grow by 3.00% on average over the next years.
NORCO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.94% yearly.
EPS Next Y-7.09%
EPS Next 2Y0.63%
EPS Next 3Y3%
EPS Next 5YN/A
Revenue Next Year8.17%
Revenue Next 2Y7.37%
Revenue Next 3Y6.94%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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 0.5 1 1.5 2 2.5

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 15.53, which indicates a correct valuation of NORCO.
NORCO's Price/Earnings is on the same level as the industry average.
NORCO is valuated rather cheaply when we compare the Price/Earnings ratio to 26.25, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 16.75, the valuation of NORCO can be described as correct.
70.73% of the companies in the same industry are cheaper than NORCO, based on the Price/Forward Earnings ratio.
NORCO's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.15.
Industry RankSector Rank
PE 15.53
Fwd PE 16.75
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 65.85% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, NORCO is valued a bit cheaper than 63.41% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.15
EV/EBITDA 13.15
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

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y0.63%
EPS Next 3Y3%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.68%, NORCO has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.05, 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 2.40.
Industry RankSector Rank
Dividend Yield 3.68%

5.2 History

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

5.3 Sustainability

69.29% of the earnings are spent on dividend by NORCO. This is not a sustainable payout ratio.
DP69.29%
EPS Next 2Y0.63%
EPS Next 3Y3%
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 (5/30/2025, 7:00:00 PM)

45.2

-1 (-2.16%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)05-14 2025-05-14/bmo
Earnings (Next)08-20 2025-08-20
Inst Owners24.74%
Inst Owner ChangeN/A
Ins Owners2.04%
Ins Owner ChangeN/A
Market Cap14.03B
Analysts78.46
Price Target50.69 (12.15%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.68%
Yearly Dividend1.17
Dividend Growth(5Y)N/A
DP69.29%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)41.07%
Min EPS beat(2)29.97%
Max EPS beat(2)52.17%
EPS beat(4)4
Avg EPS beat(4)43.11%
Min EPS beat(4)25.77%
Max EPS beat(4)64.51%
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)9.66%
Min Revenue beat(2)8.24%
Max Revenue beat(2)11.08%
Revenue beat(4)4
Avg Revenue beat(4)7.31%
Min Revenue beat(4)1.9%
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)-1.97%
PT rev (3m)-2.74%
EPS NQ rev (1m)-10%
EPS NQ rev (3m)-10%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.25%
Revenue NQ rev (1m)-1.49%
Revenue NQ rev (3m)4.26%
Revenue NY rev (1m)0.09%
Revenue NY rev (3m)-0.76%
Valuation
Industry RankSector Rank
PE 15.53
Fwd PE 16.75
P/S 1.35
P/FCF 10.15
P/OCF 9.38
P/B 5.54
P/tB 10.44
EV/EBITDA 13.15
EPS(TTM)2.91
EY6.44%
EPS(NY)2.7
Fwd EY5.97%
FCF(TTM)4.45
FCFY9.85%
OCF(TTM)4.82
OCFY10.67%
SpS33.54
BVpS8.15
TBVpS4.33
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.96%
ROE 19.55%
ROCE 14.48%
ROIC 11.9%
ROICexc 20.18%
ROICexgc 41.39%
OM 5.46%
PM (TTM) 4.75%
GM N/A
FCFM 13.28%
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-Score5
Asset Turnover1.46
Health
Industry RankSector Rank
Debt/Equity 0.49
Debt/FCF 1.15
Debt/EBITDA 1.16
Cap/Depr 23.31%
Cap/Sales 1.09%
Interest Coverage 11.61
Cash Conversion 141.49%
Profit Quality 279.39%
Current Ratio 1.29
Quick Ratio 1.29
Altman-Z 4.16
F-Score5
WACC7.93%
ROIC/WACC1.5
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)-9.29%
EPS 3Y14.47%
EPS 5YN/A
EPS Q2Q%39.34%
EPS Next Y-7.09%
EPS Next 2Y0.63%
EPS Next 3Y3%
EPS Next 5YN/A
Revenue 1Y (TTM)8.85%
Revenue growth 3Y12.09%
Revenue growth 5YN/A
Sales Q2Q%11.86%
Revenue Next Year8.17%
Revenue Next 2Y7.37%
Revenue Next 3Y6.94%
Revenue Next 5YN/A
EBIT growth 1Y-15.45%
EBIT growth 3Y-3.54%
EBIT growth 5YN/A
EBIT Next Year83.21%
EBIT Next 3Y28.61%
EBIT Next 5YN/A
FCF growth 1Y64.84%
FCF growth 3Y17.62%
FCF growth 5YN/A
OCF growth 1Y62.36%
OCF growth 3Y17.66%
OCF growth 5YN/A