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Norwegian Air Shuttle ASAOB:NAS Stock Report

Market Cap NOK 16.6b
Share Price
NOK 15.74
My Fair Value
NOK 18.17
13.4% undervalued intrinsic discount
1Y48.8%
7D2.7%
Portfolio Value
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Norwegian Air Shuttle ASA

OB:NAS Stock Report

Market Cap: NOK 16.6b

Norwegian Air Shuttle (NAS) Stock Overview

Provides air travel services in Norway and internationally. More details

NAS fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health5/6
Dividends4/6

Rewards

Trading at 77.7% below our estimate of its fair value

Revenue is forecast to grow 6.05% per year

Earnings grew by 50.4% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 1% per year for the next 3 years


NAS Community Fair Values

Create Narrative

See what 61 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Norwegian Air Shuttle

Widerøe Integration And Digital Progress Will Drive Sustainable Air Travel

Key Takeaways Strong operational execution, strategic fleet ownership, and integration of Widerøe position Norwegian for above-peer revenue growth, earnings resilience, and organic network optimization. Robust financial health and proactive sustainability initiatives empower industry-leading shareholder returns, premium pricing, and durable regulatory and margin advantages.
View narrative
NOK 19
FV
17.2% undervalued intrinsic discount
7.22%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
1users have followed this narrative
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Norwegian Air Shuttle

Rising Regulatory Costs Will Strain Nordic Routes Despite Cost Cuts

Key Takeaways Accelerating industry consolidation and shifting travel trends threaten Norwegian's competitive position, long-term revenue growth, and ability to maintain attractive yields and margins. High financial leverage and exposure to regulatory and demographic risks create vulnerability to rising costs, refinancing pressures, and suppressed demand.
View narrative
NOK 13
FV
21.0% overvalued intrinsic discount
6.12%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
NAS logo
Norwegian Air Shuttle

Analysts Boost Norwegian Air Shuttle Price Target Citing Strong Short Haul and Leisure Outlook

Key Takeaways Robust demand from growth in passenger numbers and new corporate travel agreements suggests potential future revenue growth for Norwegian Air Shuttle. Operational synergies from acquisitions and new platforms, along with cost-reduction programs, could enhance efficiency and profitability.
View narrative
NOK 18.17
FV
13.4% undervalued intrinsic discount
6.17%
Revenue growth p.a.
2users have liked this narrative
0users have commented on this narrative
34users have followed this narrative
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Norwegian Air Shuttle ASA Competitors

Price History & Performance

Summary of share price highs, lows and changes for Norwegian Air Shuttle
Historical stock prices
Current Share PriceNOK 15.74
52 Week HighNOK 18.45
52 Week LowNOK 9.78
Beta0.84
1 Month Change2.21%
3 Month Change-6.89%
1 Year Change48.79%
3 Year Change87.28%
5 Year Change-75.57%
Change since IPO-99.51%

Recent News & Updates

Shareholders Will Be Pleased With The Quality of Norwegian Air Shuttle's (OB:NAS) Earnings

Oct 30
Shareholders Will Be Pleased With The Quality of Norwegian Air Shuttle's (OB:NAS) Earnings

Is There Now An Opportunity In Norwegian Air Shuttle ASA (OB:NAS)?

Sep 12
Is There Now An Opportunity In Norwegian Air Shuttle ASA (OB:NAS)?

Norwegian Air Shuttle (OB:NAS) Has A Somewhat Strained Balance Sheet

Aug 26
Norwegian Air Shuttle (OB:NAS) Has A Somewhat Strained Balance Sheet

Recent updates

Shareholders Will Be Pleased With The Quality of Norwegian Air Shuttle's (OB:NAS) Earnings

Oct 30
Shareholders Will Be Pleased With The Quality of Norwegian Air Shuttle's (OB:NAS) Earnings

Is There Now An Opportunity In Norwegian Air Shuttle ASA (OB:NAS)?

Sep 12
Is There Now An Opportunity In Norwegian Air Shuttle ASA (OB:NAS)?

Norwegian Air Shuttle (OB:NAS) Has A Somewhat Strained Balance Sheet

Aug 26
Norwegian Air Shuttle (OB:NAS) Has A Somewhat Strained Balance Sheet

Earnings Update: Here's Why Analysts Just Lifted Their Norwegian Air Shuttle ASA (OB:NAS) Price Target To kr16.32

Jul 16
Earnings Update: Here's Why Analysts Just Lifted Their Norwegian Air Shuttle ASA (OB:NAS) Price Target To kr16.32

Investors Continue Waiting On Sidelines For Norwegian Air Shuttle ASA (OB:NAS)

Jun 27
Investors Continue Waiting On Sidelines For Norwegian Air Shuttle ASA (OB:NAS)

This Is Why Norwegian Air Shuttle ASA's (OB:NAS) CEO Can Expect A Bump Up In Their Pay Packet

May 08
This Is Why Norwegian Air Shuttle ASA's (OB:NAS) CEO Can Expect A Bump Up In Their Pay Packet

Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?

Mar 13
Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?

Here's Why Norwegian Air Shuttle (OB:NAS) Can Manage Its Debt Responsibly

Feb 10
Here's Why Norwegian Air Shuttle (OB:NAS) Can Manage Its Debt Responsibly
User avatar

Wideroe Integration Will Improve Operational Efficiency And Market Reach

Acquisition of Wideroe is expected to enhance operational efficiencies and market reach, positively impacting net margins and revenue.

Norwegian Air Shuttle ASA's (OB:NAS) Earnings Are Not Doing Enough For Some Investors

Jan 14
Norwegian Air Shuttle ASA's (OB:NAS) Earnings Are Not Doing Enough For Some Investors

Returns On Capital Are Showing Encouraging Signs At Norwegian Air Shuttle (OB:NAS)

Dec 03
Returns On Capital Are Showing Encouraging Signs At Norwegian Air Shuttle (OB:NAS)

Norwegian Air Shuttle (OB:NAS) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Nov 02
Norwegian Air Shuttle (OB:NAS) Is Posting Promising Earnings But The Good News Doesn’t Stop There

An Intrinsic Calculation For Norwegian Air Shuttle ASA (OB:NAS) Suggests It's 50% Undervalued

Oct 24
An Intrinsic Calculation For Norwegian Air Shuttle ASA (OB:NAS) Suggests It's 50% Undervalued

Does Norwegian Air Shuttle (OB:NAS) Have A Healthy Balance Sheet?

Sep 11
Does Norwegian Air Shuttle (OB:NAS) Have A Healthy Balance Sheet?

Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?

Aug 01
Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?

Lacklustre Performance Is Driving Norwegian Air Shuttle ASA's (OB:NAS) 28% Price Drop

Jul 05
Lacklustre Performance Is Driving Norwegian Air Shuttle ASA's (OB:NAS) 28% Price Drop

Should You Be Adding Norwegian Air Shuttle (OB:NAS) To Your Watchlist Today?

Jun 21
Should You Be Adding Norwegian Air Shuttle (OB:NAS) To Your Watchlist Today?

Norwegian Air Shuttle (OB:NAS) Has A Pretty Healthy Balance Sheet

May 30
Norwegian Air Shuttle (OB:NAS) Has A Pretty Healthy Balance Sheet

Need To Know: Analysts Are Much More Bullish On Norwegian Air Shuttle ASA (OB:NAS) Revenues

May 01
Need To Know: Analysts Are Much More Bullish On Norwegian Air Shuttle ASA (OB:NAS) Revenues

Is Now The Time To Look At Buying Norwegian Air Shuttle ASA (OB:NAS)?

Mar 11
Is Now The Time To Look At Buying Norwegian Air Shuttle ASA (OB:NAS)?

Earnings Not Telling The Story For Norwegian Air Shuttle ASA (OB:NAS) After Shares Rise 25%

Feb 07
Earnings Not Telling The Story For Norwegian Air Shuttle ASA (OB:NAS) After Shares Rise 25%

Here's Why We Think Norwegian Air Shuttle (OB:NAS) Might Deserve Your Attention Today

Jan 28
Here's Why We Think Norwegian Air Shuttle (OB:NAS) Might Deserve Your Attention Today

Norwegian Air Shuttle ASA's (OB:NAS) Earnings Are Not Doing Enough For Some Investors

Dec 23
Norwegian Air Shuttle ASA's (OB:NAS) Earnings Are Not Doing Enough For Some Investors

Norwegian Air Shuttle's (OB:NAS) Earnings Offer More Than Meets The Eye

Nov 10
Norwegian Air Shuttle's (OB:NAS) Earnings Offer More Than Meets The Eye

These 4 Measures Indicate That Norwegian Air Shuttle (OB:NAS) Is Using Debt Extensively

Oct 24
These 4 Measures Indicate That Norwegian Air Shuttle (OB:NAS) Is Using Debt Extensively

Health Check: How Prudently Does Norwegian Air Shuttle (OB:NAS) Use Debt?

May 22
Health Check: How Prudently Does Norwegian Air Shuttle (OB:NAS) Use Debt?

Norwegian Air Shuttle ASA's (OB:NAS) Shares Leap 29% Yet They're Still Not Telling The Full Story

Feb 23
Norwegian Air Shuttle ASA's (OB:NAS) Shares Leap 29% Yet They're Still Not Telling The Full Story

Is Norwegian Air Shuttle (OB:NAS) Using Debt In A Risky Way?

Jan 25
Is Norwegian Air Shuttle (OB:NAS) Using Debt In A Risky Way?

Shareholder Returns

NASNO AirlinesNO Market
7D2.7%2.6%-1.6%
1Y48.8%43.5%5.3%

Return vs Industry: NAS exceeded the Norwegian Airlines industry which returned 43.5% over the past year.

Return vs Market: NAS exceeded the Norwegian Market which returned 5.3% over the past year.

Price Volatility

Is NAS's price volatile compared to industry and market?
NAS volatility
NAS Average Weekly Movement4.0%
Airlines Industry Average Movement4.0%
Market Average Movement4.5%
10% most volatile stocks in NO Market10.6%
10% least volatile stocks in NO Market2.5%

Stable Share Price: NAS has not had significant price volatility in the past 3 months compared to the Norwegian market.

Volatility Over Time: NAS's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19937,491Geir Karlsenwww.norwegian.com

Norwegian Air Shuttle ASA, together with its subsidiaries, provides air travel services in Norway and internationally. It is also involved in aircraft financing, leasing, and ownership; cargo; and other activities. The company was founded in 1993 and is headquartered in Fornebu, Norway.

Norwegian Air Shuttle ASA Fundamentals Summary

How do Norwegian Air Shuttle's earnings and revenue compare to its market cap?
NAS fundamental statistics
Market capNOK 16.60b
Earnings (TTM)NOK 2.40b
Revenue (TTM)NOK 37.40b
6.9x
P/E Ratio
0.4x
P/S Ratio

Is NAS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NAS income statement (TTM)
RevenueNOK 37.40b
Cost of RevenueNOK 29.57b
Gross ProfitNOK 7.82b
Other ExpensesNOK 5.42b
EarningsNOK 2.40b

Last Reported Earnings

Sep 30, 2025

Next Earnings Date

Feb 13, 2026

Earnings per share (EPS)2.28
Gross Margin20.92%
Net Profit Margin6.42%
Debt/Equity Ratio74.4%

How did NAS perform over the long term?

See historical performance and comparison

Dividends

11.4%
Current Dividend Yield
37%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/02 02:14
End of Day Share Price 2025/10/31 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Norwegian Air Shuttle ASA is covered by 22 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Andrew LobbenbergBarclays
Katherine SomervilleBerenberg