Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
/
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Norwegian Air Shuttle ASA is a Norwegian low-cost airline that provides scheduled and charter air travel services in Norway and internationally. Founded in 1993 as a regional carrier taking over services from Busy Bee, it evolved into Scandinavia's second-largest airline behind Scandinavian Airlines, operating high-frequency domestic flights within Scandinavia and Finland, as well as routes to business hubs like London and leisure destinations in the Mediterranean and Canary Islands. The company, headquartered in Fornebu near Oslo, manages a fleet primarily of Boeing 737-800 aircraft through subsidiaries including Norwegian Air Shuttle AOC AS and Norwegian Air Sweden AOC AB, each holding separate air operator's certificates. It engages in ancillary activities such as aircraft financing, leasing, ownership, and cargo operations. Norwegian Air Shuttle ASA plays a significant role in Europe's low-cost carrier market as the largest airline in Norway and fourth-largest in Europe by passenger volume pre-restructuring, serving over 100 destinations with a focus on efficiency and affordability for both business and leisure travelers.
NOK 14.78
+NOK 0.29 (+2.00%)
Live · 05:21 PM
Operating margin is thin at 8.83%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.6%, steady but not accelerating. Free cash flow declined 58% despite revenue growth, conversion is weakening.
Free cash flow declined 58% versus the prior year, cash generation momentum has weakened. Net debt of NOK 10.61B represents 4.4x FCF, leverage limits flexibility.
5.0x earnings, 2.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 37.97B
▲ +6.6% YoY
Net Income (TTM)
NOK 3.10B
▲ +99.9% YoY
Op. Margin
9.63%
▲ +2.7pp YoY
ROIC
11.81%
▲ +1.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 7.18B
▼ -57.6% YoY
Op. Cash Flow (TTM)
NOK 6.11B
▼ -50.4% YoY
Net Debt
NOK 10.61B
Cash & Equiv.
NOK 8.94B
3Y CAGR: +25.9%
3Y CAGR: +15.5%
Continue Research
At a P/E of 5.0 and a price-to-free-cash-flow of 2.2, Norwegian Air Shuttle ASA (NAS.XOSL) trades below a two-stage DCF intrinsic value of about NOK 334.21 per share, so at NOK 14.78 the stock looks undervalued (2,160.9% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Norwegian Air Shuttle ASA scores 80/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 6.1%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about NOK 334.21 per share for NAS.XOSL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around NOK 250.66. At today's NOK 14.78, that puts the stock about 2,160.9% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Norwegian Air Shuttle ASA scores 80 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 9.6% operating margin and a 11.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Norwegian Air Shuttle ASA pays a regular dividend of about NOK 0.90 per share per year (typically in quarterly installments), a yield of roughly 6.1% at the current price. That is a payout ratio of about 30.6% of earnings, so the dividend is amply covered by earnings. Norwegian Air Shuttle ASA has grown the dividend at roughly 58.6% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For NAS.XOSL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. NAS.XOSL currently trades below its estimated intrinsic value and scores 80/100 on quality (high-quality). It also yields about 6.1%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.