Financials Norwegian Air Shuttle ASA

Equities

NAS

NO0010196140

Airlines

Market Closed - Oslo Bors 10:45:00 2024-04-26 am EDT 5-day change 1st Jan Change
14.88 NOK -0.90% Intraday chart for Norwegian Air Shuttle ASA -10.45% +38.76%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,174 3,456 9,982 6,830 10,310 14,338 - -
Enterprise Value (EV) 1 64,456 43,678 11,664 9,156 14,858 15,979 12,559 14,338
P/E ratio -3 x -0.09 x 6.32 x 8.25 x 6.96 x 7.42 x 6.91 x 6.57 x
Yield - - - - - - - -
Capitalization / Revenue 0.14 x 0.38 x 1.97 x 0.36 x 0.4 x 0.48 x 0.45 x 0.45 x
EV / Revenue 1.48 x 4.8 x 2.3 x 0.49 x 0.58 x 0.53 x 0.39 x 0.45 x
EV / EBITDA 9.97 x -25 x -5.18 x 7.34 x 2.57 x 2.14 x 1.58 x 1.59 x
EV / FCF 5.67 x 34.4 x 2.22 x 5.57 x 3.12 x 2.77 x 2.43 x 3 x
FCF Yield 17.6% 2.91% 45.1% 18% 32.1% 36% 41.1% 33.4%
Price to Book 1.5 x -0.52 x 3.07 x 1.63 x 1.79 x 1.8 x 1.41 x 1.2 x
Nbr of stocks (in thousands) 1,636 39,749 928,518 929,990 961,771 963,880 - -
Reference price 2 3,775 86.94 10.75 7.344 10.72 14.88 14.88 14.88
Announcement Date 2/13/20 2/26/21 2/18/22 2/16/23 2/16/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 43,522 9,096 5,068 18,869 25,539 29,988 32,052 32,145
EBITDA 1 6,468 -1,750 -2,254 1,247 5,789 7,462 7,940 9,012
EBIT 1 856 -10,953 -3,524 1,495 2,267 3,084 3,213 3,756
Operating Margin 1.97% -120.42% -69.53% 7.92% 8.88% 10.28% 10.03% 11.68%
Earnings before Tax (EBT) 1 -1,688 -22,133 1,876 1,046 1,804 2,529 2,790 3,294
Net income 1 -1,615 -23,051 1,870 1,006 1,737 2,132 2,314 2,548
Net margin -3.71% -253.43% 36.91% 5.33% 6.8% 7.11% 7.22% 7.93%
EPS 2 -1,260 -1,022 1.700 0.8900 1.540 2.005 2.154 2.262
Free Cash Flow 1 11,370 1,271 5,257 1,644 4,762 5,759 5,158 4,787
FCF margin 26.13% 13.98% 103.74% 8.71% 18.65% 19.2% 16.09% 14.89%
FCF Conversion (EBITDA) 175.8% - - 131.86% 82.26% 77.17% 64.97% 53.12%
FCF Conversion (Net income) - - 281.06% 163.49% 274.19% 270.08% 222.96% 187.88%
Dividend per Share 2 - - - - - - - -
Announcement Date 2/13/20 2/26/21 2/18/22 2/16/23 2/16/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,927 2,550 1,916 4,868 7,116 4,969 3,975 6,871 8,776 5,917 8,053 9,937 6,287
EBITDA 1 -305 -86.9 - - 1,569 349.4 -154.5 1,568 3,150 1,170 2,184 3,883 1,316
EBIT 1 -621 -463.7 -833 1,354 1,074 -99.9 -916.5 700.7 2,179 298.4 1,011 2,678 -
Operating Margin -32.23% -18.19% -43.48% 27.81% 15.1% -2.01% -23.06% 10.2% 24.83% 5.04% 12.55% 26.95% -
Earnings before Tax (EBT) 1 169 117.4 -1,031 1,248 909.7 -80.3 -991.6 538 2,050 207.8 911 2,428 321
Net income 1 169 111.8 -1,034 1,248 909.7 -118.9 -992.8 537.9 2,039 152.8 817 2,150 96
Net margin 8.77% 4.38% -53.95% 25.64% 12.78% -2.39% -24.98% 7.83% 23.24% 2.58% 10.15% 21.63% 1.53%
EPS 2 - 0.1000 -1.100 - 0.8000 -0.1600 -1.070 0.4800 1.810 0.1300 0.5900 1.740 -0.0400
Dividend per Share - - - - - - - - - - - - -
Announcement Date 10/28/21 2/18/22 5/13/22 8/25/22 10/25/22 2/16/23 5/11/23 8/24/23 11/2/23 2/16/24 - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 58,282 40,222 1,683 2,326 4,548 1,641 - -
Net Cash position 1 - - - - - - 1,779 -
Leverage (Debt/EBITDA) 9.011 x -22.98 x -0.7466 x 1.866 x 0.7855 x 0.22 x - -
Free Cash Flow 1 11,370 1,271 5,257 1,644 4,762 5,759 5,158 4,787
ROE (net income / shareholders' equity) -55.8% - - 26.9% 34.8% 29.2% 23.7% 19.9%
ROA (Net income/ Total Assets) -2.29% -34.2% 5.47% 4.85% 6.53% 5.57% 5.1% 5.68%
Assets 1 70,665 67,448 34,190 20,747 26,610 38,301 45,390 44,873
Book Value Per Share 2 2,520 -167.0 3.500 4.500 6.000 8.260 10.50 12.40
Cash Flow per Share 2 2,375 - - 2.160 4.670 5.480 6.600 -
Capex 1 - - 6.1 782 495 1,352 2,624 2,250
Capex / Sales - - 0.12% 4.14% 1.94% 4.51% 8.19% 7%
Announcement Date 2/13/20 2/26/21 2/18/22 2/16/23 2/16/24 - - -
1NOK in Million2NOK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
14.88 NOK
Average target price
19.59 NOK
Spread / Average Target
+31.67%
Consensus
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