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.
Norse Atlantic ASA is a Norwegian public limited liability company that serves as the parent entity for Norse Atlantic Airways, a low-cost, long-haul airline offering affordable fares on transatlantic and select international routes. Incorporated in February 2021 and headquartered in Arendal, Norway, it operates a fleet of modern Boeing 787-9 Dreamliner aircraft, emphasizing fuel-efficient, point-to-point flights between Europe, North America, Asia, and other regions. Key bases include Oslo, London Gatwick, and Paris, with destinations such as New York JFK, Los Angeles, Bangkok, and Cape Town, alongside seasonal and charter services. The company focuses on a self-service model with online bookings and optional add-ons, catering to leisure and business travelers seeking value-driven long-haul travel. Norse Atlantic ASA maintains subsidiaries like Norse Atlantic UK and has shifted toward ACMI leasing and charter operations as part of its evolving business strategy, while upholding core values of inclusivity, ownership, and kindness. Listed on the Euronext Growth exchange in Oslo, it continues to expand its network and partnerships in the competitive aviation sector.
NOK 0.51
+NOK 0.01 (+2.50%)
EOD Jul 1, 2026
The business is unprofitable at the operating level (-2.74% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 24.8% YoY with margins expanding 13.8pp.
Net debt of $818M represents 16.9x FCF, leverage limits flexibility.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$769M
▲ +24.8% YoY
Net Income (TTM)
-$71M
▲ +54.3% YoY
Op. Margin
-3.64%
▲ +13.8pp YoY
ROIC
-1.80%
▲ +6.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$36M
▲ +46.1% YoY
Op. Cash Flow (TTM)
$57M
▲ +24.5% YoY
Net Debt
$818M
Cash & Equiv.
$18M
3Y CAGR: +91.7%
Continue Research
Norse Atlantic ASA (NORSE.XOSL) trades above a two-stage DCF intrinsic value of about $-0.41 per share, so at $0.51 the stock looks overvalued (179.5% above 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, Norse Atlantic ASA scores 53/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. 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 $-0.41 per share for NORSE.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 $-0.31. At today's $0.51, that puts the stock about 179.5% above 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.
Norse Atlantic ASA scores 53 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -3.6% operating margin and a -1.8% 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.
That depends on valuation and quality together, not either alone. NORSE.XOSL currently trades above its estimated intrinsic value and scores 53/100 on quality (mixed). 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.