Fact based stock research
Norwegian Air Shuttle (OB:NAS)

NO0010196140

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Norwegian Air Shuttle stock research in summary

norwegian.no

ANALYSIS: With an Obermatt Combined Rank of 83 (better than 83% compared with investment alternatives), Norwegian Air Shuttle (Airlines, Norway) shares have much better financial characteristics than comparable stocks. Shares of Norwegian Air Shuttle are a good value (attractively priced) with a consolidated Value Rank of 69 (better than 69% of alternatives), show above-average growth (Growth Rank of 87) but are riskily financed (Safety Rank of 29), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 83, is a strong buy recommendation based on Norwegian Air Shuttle's financial characteristics. As the company Norwegian Air Shuttle's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 69) and above-average growth (Obermatt Growth Rank of 87), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 29) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	69
Growth Rank	87
Safety Rank	29
Combined Rank	83

Country	Norway
Industry	Airlines
Index	SDG 1, SDG 13, SDG 17, SDG 8
Size class	Medium

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Norwegian Air Shuttle

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	53	36	52	69
GROWTH
GROWTH	57	100	75	87
SAFETY
SAFETY	25	39	42	29
SENTIMENT
SENTIMENT	51	49	67	^new
360° VIEW
360° VIEW	37	70	71	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 30-Jun-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Norwegian Air Shuttle is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	53	36	52	69
GROWTH
GROWTH	57	100	75	87
SAFETY
SAFETY	25	39	42	29
COMBINED
COMBINED	40	64	67	83

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Norwegian Air Shuttle the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 69 (better than 69% compared with alternatives), Norwegian Air Shuttle shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Norwegian Air Shuttle. Price-to-Sales (P/S) is 70, which means that the stock price compared with what market professionals expect for future sales is lower than for 70% of comparable companies, indicating a good value concerning Norwegian Air Shuttle's revenue size. The same is valid for expected Price-to-Profits (or Price / Earnings, P/E), more favorable than for 69% of alternatives. It is also positive for expected dividend yields with a Dividend Yield rank of 63 (dividends are expected to be higher than 63% of other stocks). But, compared with other companies in the same industry, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is higher than average, making the stock more expensive. Only 59% of all competitors have an even higher price compared with book capital which puts the Price-to-Capital Rank for Norwegian Air Shuttle to 41. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 69, is a buy recommendation based on Norwegian Air Shuttle's stock price compared with the company's operational size and dividend yields. A low level of book capital means that the company has a business that is leaner in assets than its competitors. For instance, the company could be leasing its production facilities or be more focussed on intellectual property, such as its brand and software, which is less visible in its book capital. If that is the case, the three good value ranks for Sales, Profits, and Dividends are reliable indicators for the stock price value. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	71	71	80	70
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	50	50	64	69
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	95	44	49	41
DIVIDEND YIELD
DIVIDEND YIELD	1	1	23	63
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	53	36	52	69

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Norwegian Air Shuttle; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 87 (better than 87% compared with alternatives) for 2025, Norwegian Air Shuttle shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Norwegian Air Shuttle. Sales Growth has a rank of 80 which means that currently, professionals expect the company to grow more than 80% of its competitors. Both Profit Growth, with a rank of 92, and Stock Returns, with a rank of 91, are also above average. But Capital Growth only has a rank of 13, which means that, currently, professionals expect the company to grow its invested capital less than 87% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 87, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	100	80	85	80
PROFIT GROWTH
PROFIT GROWTH	100	64	71	92
CAPITAL GROWTH
CAPITAL GROWTH	7	100	92	13
STOCK RETURNS
STOCK RETURNS	1	68	8	91
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	100	75	87

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Norwegian Air Shuttle.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 29 (better than 29% compared with alternatives), the company Norwegian Air Shuttle has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Norwegian Air Shuttle is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Norwegian Air Shuttle and the other two below average. Refinancing is at 57, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 57% of its competitors. But Leverage is high with a rank of 32, meaning the company has an above-average debt-to-equity ratio. It has more debt than 68% of its competitors. Liquidity is also on the riskier side with a rank of 20, meaning the company generates less profit to service its debt than 80% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 29 (worse than 71% compared with alternatives), Norwegian Air Shuttle has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Norwegian Air Shuttle are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Norwegian Air Shuttle and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	1	30	25	32
REFINANCING
REFINANCING	89	89	82	57
LIQUIDITY
LIQUIDITY	18	6	16	20
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	25	39	42	29

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Norwegian Air Shuttle and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	61	50	^new
OPINIONS CHANGE
OPINIONS CHANGE	92	50	61	^new
PRO HOLDINGS
PRO HOLDINGS	37	44	98	^new
MARKET PULSE
MARKET PULSE	34	49	15	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	51	49	67	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Norwegian Air Shuttle.
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