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NORCONSULT AS (NORCO.OL) Stock Fundamental Analysis

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

43.525  -0.23 (-0.51%)

Fundamental Rating

5

Overall NORCO gets a fundamental rating of 5 out of 10. We evaluated NORCO against 48 industry peers in the Construction & Engineering industry. While NORCO has a great health rating, its profitability is only average at the moment. NORCO is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

NORCO had positive earnings in the past year.
NORCO had a positive operating cash flow in the past year.
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

Looking at the Return On Assets, with a value of 8.94%, NORCO is in the better half of the industry, outperforming 79.17% of the companies in the same industry.
NORCO's Return On Equity of 23.25% is fine compared to the rest of the industry. NORCO outperforms 75.00% of its industry peers.
NORCO's Return On Invested Capital of 14.89% is fine compared to the rest of the industry. NORCO outperforms 79.17% of its industry peers.
NORCO had an Average Return On Invested Capital over the past 3 years of 14.25%. This is above the industry average of 10.61%.
The last Return On Invested Capital (14.89%) for NORCO is above the 3 year average (14.25%), which is a sign of increasing profitability.
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 62.50% of the companies in the same industry.
In the last couple of years the Profit Margin of NORCO has remained more or less at the same level.
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.
Compared to 1 year ago, NORCO has more shares outstanding
NORCO has a better debt/assets ratio than last year.
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 4.27. This indicates that NORCO is financially healthy and has little risk of bankruptcy at the moment.
NORCO has a Altman-Z score of 4.27. This is amongst the best in the industry. NORCO outperforms 93.75% 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 83.33% of its industry peers.
NORCO has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
NORCO's Debt to Equity ratio of 0.44 is fine compared to the rest of the industry. NORCO outperforms 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 1.43
Altman-Z 4.27
ROIC/WACC1.87
WACC7.96%
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.
NORCO's Current ratio of 1.37 is fine compared to the rest of the industry. NORCO outperforms 68.75% of its industry peers.
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.
NORCO's Quick ratio of 1.37 is fine compared to the rest of the industry. NORCO outperforms 79.17% of its industry peers.
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

The Earnings Per Share has grown by an impressive 76.43% over the past year.
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

NORCO is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.00% yearly.
Based on estimates for the next years, NORCO will show a small growth in Revenue. The Revenue will grow by 6.46% on average per year.
EPS Next Y-7.09%
EPS Next 2Y0.63%
EPS Next 3Y3%
EPS Next 5YN/A
Revenue Next Year5.32%
Revenue Next 2Y6.93%
Revenue Next 3Y6.46%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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 0.5 1 1.5 2 2.5

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3

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 14.96 indicates a correct valuation of NORCO.
The rest of the industry has a similar Price/Earnings ratio as NORCO.
NORCO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.54.
The Price/Forward Earnings ratio is 16.13, which indicates a correct valuation of NORCO.
Based on the Price/Forward Earnings ratio, NORCO is valued a bit more expensive than the industry average as 60.42% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 35.28. NORCO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 14.96
Fwd PE 16.13
NORCO.OL Price Earnings VS Forward Price EarningsNORCO.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NORCO is valued a bit more expensive than the industry average as 64.58% of the companies are valued more cheaply.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NORCO is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 12.1
EV/EBITDA 10.72
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

NORCO has a Yearly Dividend Yield of 3.92%.
Compared to an average industry Dividend Yield of 4.21, NORCO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, NORCO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.92%

5.2 History

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

5.3 Sustainability

52.85% of the earnings are spent on dividend by NORCO. This is a bit on the high side, but may be sustainable.
DP52.85%
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 (8/7/2025, 4:19:29 PM)

43.525

-0.23 (-0.51%)

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 Owners27.86%
Inst Owner ChangeN/A
Ins Owners2.05%
Ins Owner ChangeN/A
Market Cap13.51B
Analysts78.46
Price Target52.02 (19.52%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.92%
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)2%
PT rev (3m)0.59%
EPS NQ rev (1m)-20.78%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-4.46%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.64%
Revenue NY rev (3m)-2.55%
Valuation
Industry RankSector Rank
PE 14.96
Fwd PE 16.13
P/S 1.26
P/FCF 12.1
P/OCF 10.73
P/B 4.84
P/tB 8.51
EV/EBITDA 10.72
EPS(TTM)2.91
EY6.69%
EPS(NY)2.7
Fwd EY6.2%
FCF(TTM)3.6
FCFY8.27%
OCF(TTM)4.06
OCFY9.32%
SpS34.54
BVpS8.99
TBVpS5.11
PEG (NY)N/A
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 4.27
F-Score8
WACC7.96%
ROIC/WACC1.87
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 Y-7.09%
EPS Next 2Y0.63%
EPS Next 3Y3%
EPS Next 5YN/A
Revenue 1Y (TTM)11.89%
Revenue growth 3Y12.09%
Revenue growth 5YN/A
Sales Q2Q%11.86%
Revenue Next Year5.32%
Revenue Next 2Y6.93%
Revenue Next 3Y6.46%
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