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North American Construction Group

TSX:NOA
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NOA
TSX
CA$379M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

North American Construction Group Ltd. provides mining and heavy construction services to resource development and industrial construction sectors in Canada. The last earnings update was 27 days ago. More info.


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NOA Share Price and Events
7 Day Returns
-5.2%
TSX:NOA
-2.8%
CA Energy Services
-1.2%
CA Market
1 Year Returns
82.7%
TSX:NOA
-27.4%
CA Energy Services
-1.9%
CA Market
NOA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
North American Construction Group (NOA) -5.2% -14.9% -7.4% 82.7% 301.9% 78.6%
CA Energy Services -2.8% -9.1% -9.6% -27.4% -17.4% -68.7%
CA Market -1.2% -2.8% 0.1% -1.9% 10.6% 4.2%
1 Year Return vs Industry and Market
  • NOA outperformed the Energy Services industry which returned -27.4% over the past year.
  • NOA outperformed the Market in Canada which returned -1.9% over the past year.
Price Volatility
NOA
Industry
5yr Volatility vs Market

NOA Value

 Is North American Construction Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of North American Construction Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for North American Construction Group.

TSX:NOA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:NOA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 26.5%) (110.11%))
1.623
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.62
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.623 * 5.96%)
11.62%

Discounted Cash Flow Calculation for TSX:NOA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for North American Construction Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:NOA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 11.62%)
2019 17.50 Analyst x2 15.68
2020 85.50 Analyst x2 68.62
2021 147.28 Est @ 72.26% 105.90
2022 222.65 Est @ 51.17% 143.42
2023 303.69 Est @ 36.4% 175.26
2024 382.85 Est @ 26.07% 197.94
2025 454.94 Est @ 18.83% 210.72
2026 517.56 Est @ 13.76% 214.77
2027 570.45 Est @ 10.22% 212.07
2028 614.60 Est @ 7.74% 204.69
Present value of next 10 years cash flows CA$1,549.09
TSX:NOA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$614.60 × (1 + 1.95%) ÷ (11.62% – 1.95%)
CA$6,476.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$6,476.30 ÷ (1 + 11.62%)10
CA$2,156.96
TSX:NOA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$1,549.09 + CA$2,156.96
CA$3,706.05
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$3,706.05 / 25.16
CA$147.3
TSX:NOA Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$147.30
Current discount Discount to share price of CA$15.07
= -1 x (CA$15.07 - CA$147.30) / CA$147.30
89.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price North American Construction Group is available for.
Intrinsic value
>50%
Share price is CA$15.07 vs Future cash flow value of CA$147.3
Current Discount Checks
For North American Construction Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • North American Construction Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • North American Construction Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for North American Construction Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are North American Construction Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:NOA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.45
TSX:NOA Share Price ** TSX (2019-05-24) in CAD CA$15.07
Canada Energy Services Industry PE Ratio Median Figure of 17 Publicly-Listed Energy Services Companies 23.39x
Canada Market PE Ratio Median Figure of 544 Publicly-Listed Companies 14.81x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of North American Construction Group.

TSX:NOA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:NOA Share Price ÷ EPS (both in CAD)

= 15.07 ÷ 0.45

33.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • North American Construction Group is overvalued based on earnings compared to the CA Energy Services industry average.
  • North American Construction Group is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does North American Construction Group's expected growth come at a high price?
Raw Data
TSX:NOA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
66.9%per year
Canada Energy Services Industry PEG Ratio Median Figure of 13 Publicly-Listed Energy Services Companies 1.05x
Canada Market PEG Ratio Median Figure of 249 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

TSX:NOA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.16x ÷ 66.9%

0.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • North American Construction Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on North American Construction Group's assets?
Raw Data
TSX:NOA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$6.29
TSX:NOA Share Price * TSX (2019-05-24) in CAD CA$15.07
Canada Energy Services Industry PB Ratio Median Figure of 41 Publicly-Listed Energy Services Companies 0.89x
Canada Market PB Ratio Median Figure of 2,402 Publicly-Listed Companies 1.41x
TSX:NOA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:NOA Share Price ÷ Book Value per Share (both in CAD)

= 15.07 ÷ 6.29

2.4x

* Primary Listing of North American Construction Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • North American Construction Group is overvalued based on assets compared to the CA Energy Services industry average.
X
Value checks
We assess North American Construction Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Energy Services industry average (and greater than 0)? (1 check)
  5. North American Construction Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NOA Future Performance

 How is North American Construction Group expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
66.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is North American Construction Group expected to grow at an attractive rate?
  • North American Construction Group's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • North American Construction Group's earnings growth is expected to exceed the Canada market average.
  • North American Construction Group's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:NOA Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:NOA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 66.9%
TSX:NOA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 17.4%
Canada Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 42.9%
Canada Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:NOA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:NOA Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 770 172 53 5
2019-12-31 708 151 36 5
TSX:NOA Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 482 118 11
2018-12-31 410 109 15
2018-09-30 361 78 15
2018-06-30 346 70 13
2018-03-31 314 64 7
2017-12-31 293 50 5
2017-09-30 273 48 2
2017-06-30 251 57 1
2017-03-31 228 45 3
2016-12-31 213 40 0
2016-09-30 216 48 -1
2016-06-30 235 55 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • North American Construction Group's earnings are expected to grow significantly at over 20% yearly.
  • North American Construction Group's revenue is expected to grow by 17.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:NOA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from North American Construction Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:NOA Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.79 2.00 1.58 3.00
2019-12-31 1.10 1.15 1.05 2.00
TSX:NOA Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.45
2018-12-31 0.61
2018-09-30 0.60
2018-06-30 0.51
2018-03-31 0.26
2017-12-31 0.20
2017-09-30 0.08
2017-06-30 0.05
2017-03-31 0.09
2016-12-31 -0.01
2016-09-30 -0.02
2016-06-30 -0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if North American Construction Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess North American Construction Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
North American Construction Group has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NOA Past Performance

  How has North American Construction Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare North American Construction Group's growth in the last year to its industry (Energy Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • North American Construction Group has delivered over 20% year on year earnings growth in the past 5 years.
  • North American Construction Group's 1-year earnings growth is less than its 5-year average (66.8% vs 67.4%)
  • North American Construction Group's earnings growth has exceeded the CA Energy Services industry average in the past year (66.8% vs 27.6%).
Earnings and Revenue History
North American Construction Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from North American Construction Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:NOA Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 481.77 11.34 42.67
2018-12-31 410.06 15.29 38.84
2018-09-30 361.11 15.08 35.65
2018-06-30 346.27 13.03 29.63
2018-03-31 314.42 6.80 26.76
2017-12-31 292.56 5.26 25.30
2017-09-30 272.71 2.32 25.69
2017-06-30 250.89 1.47 26.65
2017-03-31 227.51 2.74 27.98
2016-12-31 213.18 -0.45 27.22
2016-09-30 215.97 -0.66 27.61
2016-06-30 234.56 -1.33 28.11
2016-03-31 274.72 -0.55 26.61
2015-12-31 281.28 -7.47 26.30
2015-09-30 329.47 -8.29 24.03
2015-06-30 397.34 -1.38 24.57
2015-03-31 449.12 -1.33 29.58
2014-12-31 471.78 -0.70 33.46
2014-09-30 467.51 6.34 37.21
2014-06-30 449.08 -7.15 39.87
2014-03-31 447.94 -8.70 38.26
2013-12-31 470.48 -18.05 39.90
2013-09-30 478.39 -28.41 40.26
2013-06-30 485.66 -24.78 35.75
2013-03-31 544.61 -28.31 41.28
2012-12-31 535.30 -35.91 34.12
2012-09-30 564.41 -37.11 35.85
2012-06-30 650.69 -25.54 44.82

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • North American Construction Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • North American Construction Group used its assets less efficiently than the CA Energy Services industry average last year based on Return on Assets.
  • North American Construction Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess North American Construction Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
North American Construction Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NOA Health

 How is North American Construction Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up North American Construction Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • North American Construction Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • North American Construction Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of North American Construction Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from North American Construction Group Company Filings, last reported 1 month ago.

TSX:NOA Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 159.18 417.51 20.42
2018-12-31 150.22 382.95 19.51
2018-09-30 145.98 145.81 0.23
2018-06-30 150.72 131.16 2.84
2018-03-31 154.74 138.19 12.11
2017-12-31 145.92 137.25 8.19
2017-09-30 143.26 121.82 10.71
2017-06-30 151.64 129.19 34.59
2017-03-31 165.52 135.13 44.02
2016-12-31 158.95 100.96 13.67
2016-09-30 163.25 93.70 23.12
2016-06-30 166.00 100.87 32.73
2016-03-31 175.14 105.65 38.03
2015-12-31 171.62 110.54 32.35
2015-09-30 174.85 99.56 33.19
2015-06-30 177.38 113.17 40.67
2015-03-31 184.95 120.12 25.67
2014-12-31 189.58 129.11 0.96
2014-09-30 193.99 133.80 0.50
2014-06-30 188.72 128.32 9.74
2014-03-31 192.52 118.54 24.86
2013-12-31 191.84 118.49 13.74
2013-09-30 197.08 116.38 6.85
2013-06-30 122.85 314.76 2.63
2013-03-31 127.94 312.86 0.60
2012-12-31 132.56 336.84 1.16
2012-09-30 127.62 344.20 3.83
2012-06-30 123.73 320.89 0.09
  • North American Construction Group's level of debt (262.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (61.6% vs 262.3% today).
  • Debt is well covered by operating cash flow (28.2%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess North American Construction Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. North American Construction Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NOA Dividends

 What is North American Construction Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.53%
Current annual income from North American Construction Group dividends. Estimated to be 0.53% next year.
If you bought CA$2,000 of North American Construction Group shares you are expected to receive CA$11 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • North American Construction Group's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.07%).
  • North American Construction Group's dividend is below the markets top 25% of dividend payers in Canada (5.71%).
Upcoming dividend payment

Purchase North American Construction Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:NOA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Canada Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:NOA Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.08 2.00
2019-12-31 0.08 2.00
TSX:NOA Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-02-25 0.080 0.490
2018-07-31 0.080 0.658
2018-05-01 0.080 0.991
2017-10-31 0.080 1.289
2017-05-02 0.080 1.472
2017-02-14 0.080 1.220
2016-11-01 0.080 1.539
2016-08-02 0.080 2.304
2016-02-16 0.080 2.665
2015-09-14 0.080 3.042
2015-06-08 0.080 2.874
2015-02-23 0.080 2.265
2014-12-12 0.080 2.190
2014-09-15 0.080 1.368
2014-06-18 0.080 1.033
2014-02-20 0.080 0.985

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • North American Construction Group is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
  • North American Construction Group is not paying a notable dividend for Canada, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of North American Construction Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of North American Construction Group's dividends as it is not paying a notable one for Canada.
Future Payout to shareholders
  • No need to calculate the sustainability of North American Construction Group's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess North American Construction Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can North American Construction Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. North American Construction Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NOA Management

 What is the CEO of North American Construction Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Martin Ferron
COMPENSATION CA$2,788,866
AGE 61
TENURE AS CEO 6.9 years
CEO Bio

Mr. Martin R. Ferron has been the Chief Executive Officer of North American Energy Partners Inc. since June 7, 2012. He has been the Chairman of North American Energy Partners Inc. since October 31, 2017 and its Non-Independent Director since June 7, 2012. He has been a Director of North American Construction Group, Inc. since June 7, 2012.and served as its President from June 7, 2012 to October 31, 2017. Mr. Ferron served as the Chief Executive Officer and President of North American Construction Group, Inc. He served as the President of Helix Energy Solutions Group, Inc. from February 1999 to February 2008 and served as its Chief Executive Officer from October 1, 2006 to February 2008. He served as the Chief Operating Officer of Helix Energy Solutions Group, Inc. from January 1998 to August 2005. He served as the Chief Operating Officer of Cal Dive International Inc. since January 1998. He has more than twenty-five years of worldwide experience in the oilfield industry, seven of which were in senior management positions with McDermott Marine Construction, Comex Group and Oceaneering International Services Limited immediately prior to his joining Cal Dive International Inc.'s. He serves as a Director of Wells Ops, Inc. He serves as a Director of Well Ops Inc. He served as a Director of Helix Energy Solutions Group, Inc. from September 1998 to February 2008 and Cal Dive International Inc., from February 2006 to May 6, 2008. Mr. Ferron has a Civil Engineering degree from City University, London; a M.Sc. in Marine Technology from the University of Strathclyde, Glasgow and an MBA from the University of Aberdeen. He is also a Chartered Civil Engineer.

CEO Compensation
  • Martin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Martin's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the North American Construction Group management team in years:

1.1
Average Tenure
50
Average Age
  • The average tenure for the North American Construction Group management team is less than 2 years, this suggests a new team.
Management Team

Martin Ferron

TITLE
Chairman & CEO
COMPENSATION
CA$3M
AGE
61
TENURE
6.9 yrs

Joe Lambert

TITLE
President & COO
COMPENSATION
CA$1M
AGE
53
TENURE
1.6 yrs

Jason Veenstra

TITLE
Executive VP & CFO
COMPENSATION
CA$675K
AGE
39
TENURE
0.7 yrs

Barry Palmer

TITLE
Senior Vice-President of Operations
COMPENSATION
CA$844K
AGE
57
TENURE
0.5 yrs

David Brunetta

TITLE
Director of Investor Relations and Director of Finance & Information Technology

Jordan Slator

TITLE
VP, General Counsel & Secretary
AGE
47
TENURE
8.8 yrs

David Kallay

TITLE
Vice President of Health
AGE
46
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the North American Construction Group board of directors in years:

2.2
Average Tenure
61
Average Age
  • The average tenure for the North American Construction Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Martin Ferron

TITLE
Chairman & CEO
COMPENSATION
CA$3M
AGE
61
TENURE
1.6 yrs

Bryan Pinney

TITLE
Lead Director
COMPENSATION
CA$174K
AGE
65
TENURE
1.6 yrs

Tom Stan

TITLE
Independent Director
COMPENSATION
CA$145K
AGE
60
TENURE
2.8 yrs

Ron McIntosh

TITLE
Independent Director
COMPENSATION
CA$131K
AGE
76
TENURE
15 yrs

Jay Thornton

TITLE
Independent Director
COMPENSATION
CA$130K
AGE
61
TENURE
6.9 yrs

John Pollesel

TITLE
Independent Director
COMPENSATION
CA$131K
AGE
54
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by North American Construction Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
22. May 19 Buy Martin Ferron Individual 21. May 19 21. May 19 1,000 CA$15.40 CA$15,400
16. May 19 Buy Martin Ferron Individual 10. May 19 15. May 19 3,000 CA$15.93 CA$47,241
07. May 19 Buy Martin Ferron Individual 03. May 19 07. May 19 2,000 CA$15.90 CA$31,295
25. Mar 19 Buy Martin Ferron Individual 22. Mar 19 25. Mar 19 3,000 CA$15.77 CA$47,141
07. Jan 19 Sell Martin Ferron Individual 04. Jan 19 04. Jan 19 -9,384 CA$12.35 CA$-115,906
17. Dec 18 Buy Martin Ferron Individual 17. Dec 18 17. Dec 18 2,000 CA$11.29 CA$22,580
05. Nov 18 Sell Cannell Capital LLC Company 01. Nov 18 02. Nov 18 -81,917 CA$15.04 CA$-1,227,476
09. Oct 18 Sell Cannell Capital LLC Company 04. Oct 18 09. Oct 18 -258,881 CA$16.28 CA$-3,954,233
20. Aug 18 Buy Martin Ferron Individual 17. Aug 18 17. Aug 18 1,000 CA$9.40 CA$9,400
14. Aug 18 Buy Martin Ferron Individual 14. Aug 18 14. Aug 18 3,000 CA$9.80 CA$29,400
X
Management checks
We assess North American Construction Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. North American Construction Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NOA News

Simply Wall St News

What Type Of Shareholder Owns North American Construction Group Ltd.'s (TSE:NOA)?

See our latest analysis for North American Construction Group TSX:NOA Ownership Summary, May 21st 2019 What Does The Institutional Ownership Tell Us About North American Construction Group? … We can see that North American Construction Group does have institutional investors; and they hold 56% of the stock. … Insider Ownership Of North American Construction Group The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Did North American Construction Group Ltd. (TSE:NOA) Use Debt To Deliver Its ROE Of 10%?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of North American Construction Group Ltd. … North American Construction Group has a ROE of 10%, based on the last twelve months. … See our latest analysis for North American Construction Group?

Simply Wall St -

Is North American Construction Group Ltd. (TSE:NOA) Potentially Underrated?

(TSE:NOA) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of NOA, it

Simply Wall St -

Is North American Construction Group Ltd. (TSE:NOA) Excessively Paying Its CEO?

Martin Ferron has been the CEO of North American Construction Group Ltd. … View our latest analysis for North American Construction Group? … has a market capitalization of CA$397m, and pays its CEO total annual compensation worth CA$2.2m.

Simply Wall St -

What We Think Of North American Construction Group Ltd.’s (TSE:NOA) Investment Potential

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Announcing: North American Construction Group Stock Soared An Exciting 585% In The Last Three Years

One such superstar is North American Construction Group Ltd. … View our latest analysis for North American Construction Group. … During three years of share price growth, North American Construction Group moved from a loss to profitability.

Simply Wall St -

What Kind Of Shareholder Appears On The North American Construction Group Ltd.'s (TSE:NOA) Shareholder Register?

Every investor in North American Construction Group Ltd. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … With a market capitalization of CA$357m, North American Construction Group is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Who Has Been Buying North American Construction Group Ltd. (TSE:NOA) Shares?

So before you buy or sell North American Construction Group Ltd. … Check out our latest analysis for North American Construction Group. … North American Construction Group Insider Transactions Over The Last Year.

Simply Wall St -

NOA Company Info

Description

North American Construction Group Ltd. provides mining and heavy construction services to resource development and industrial construction sectors in Canada. The company’s Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction, tailings densification, mechanically stabilized earth walls, dyke construction, and reclamation services. Its Equipment Maintenance Services division provides fuel and lube servicing, portable steaming, equipment inspections, parts and component supply, major overhauls and equipment refurbishment, onsite haul truck brake testing, onsite maintenance support, welding, fabrication/repairs, and weld certification and inspection, under carriage rebuild, machining, hose manufacturing, and technical support services. The company was formerly known as North American Energy Partners Inc. and changed its name to North American Construction Group Ltd. in April 2018. The company was founded in 1953 and is headquartered in Acheson, Canada.

Details
Name: North American Construction Group Ltd.
NOA
Exchange: TSX
Founded: 1953
CA$379,157,794
25,159,774
Website: http://www.nacg.ca
Address: North American Construction Group Ltd.
27287 – 100 Avenue,
Acheson,
Alberta, T7X 6H8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX NOA Voting Common Shares The Toronto Stock Exchange CA CAD 22. Nov 2006
NYSE NOA Voting Common Shares New York Stock Exchange US USD 22. Nov 2006
DB N5Z Voting Common Shares Deutsche Boerse AG DE EUR 22. Nov 2006
Number of employees
Current staff
Staff numbers
167
North American Construction Group employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/27 00:04
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.