Norwegian Air Shuttle (NAS) Stock Overview
Provides air travel services in Norway and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 6/6 |
| Financial Health | 5/6 |
| Dividends | 4/6 |
NAS Community Fair Values
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Analyst Price Targets
Top Community Narratives
NOK 200
FV
92.8% undervalued intrinsic discount75.74%
Revenue growth p.a.
461
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11users have followed this narrative
Norwegian Air Shuttle ASA Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | NOK 14.50 |
| 52 Week High | NOK 18.45 |
| 52 Week Low | NOK 12.29 |
| Beta | 0.85 |
| 1 Month Change | -1.53% |
| 3 Month Change | -10.96% |
| 1 Year Change | 3.20% |
| 3 Year Change | 32.80% |
| 5 Year Change | -60.17% |
| Change since IPO | -99.55% |
Recent News & Updates
Recent updates
NAS: Dividend And Load Factor Delivery Will Support Future Cash Flow
Analysts have trimmed their price target on Norwegian Air Shuttle from NOK 19.58 to NOK 17.21, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, even as recent research such as Pareto's upgrade reflects a more constructive view on the shares. Analyst Commentary Bullish Takeaways Bullish analysts see the recent upgrade as a signal that the current share price does not fully reflect their updated assumptions on future earnings and P/E, even after trimming the price target to NOK 17.21.
NAS: Dividend Proposal And Traffic Trends Will Likely Limit Further Upside
Analysts have trimmed their fair value estimate for Norwegian Air Shuttle from NOK 17.00 to NOK 15.00. This reflects updated assumptions for a slightly higher discount rate, modestly higher revenue growth, a lower profit margin and a small adjustment to the future P/E multiple.
NAS: Dividend Proposal And Load Factors Will Support Future Re Rating
Analysts have adjusted their fair value estimate for Norwegian Air Shuttle to NOK 22 from NOK 20, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. Street research now includes a Hold rating with an NOK 18 price target.NAS: Dividend Proposal And Solid Load Factors Will Support Future Upside
Analysts have adjusted their fair value estimate for Norwegian Air Shuttle to NOK 20.00 from NOK 19.00, reflecting updated assumptions on the discount rate, revenue growth, profit margins and future P/E following recent Street research, which includes a Hold rating with an NOK 18.00 price target. Analyst Commentary Recent research points to a more balanced stance on Norwegian Air Shuttle, with the current fair value estimate of NOK 20.00 sitting above the NOK 18.00 price target cited in Street research.NAS: Fair Value And Dividend Outlook Will Likely Restrain Further Optimism
Narrative Update Analysts have raised their price target on Norwegian Air Shuttle from NOK 13.49 to NOK 17.00, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, along with a recent NOK 18 target and a downgrade to Hold from Danske Bank. Analyst Commentary Bearish analysts have turned more cautious on Norwegian Air Shuttle, shifting to a Hold stance with a price target of NOK 18.
Q4 2025 Performance &
1. Operating Result (EBIT) • Norwegian reported an operating profit (EBIT) of NOK 21 million in Q4 2025, a turnaround from a loss in the same quarter last year and consistent with internal improvement.NAS: Dividend Outlook And Hold Rating Will Support Future Cash Flow Upside
Analysts have lifted their price target on Norwegian Air Shuttle from NOK 18.00 to about NOK 19.60, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, even as one firm shifted its rating to Hold. Analyst Commentary Recent research points to a more balanced stance on Norwegian Air Shuttle, with analysts updating their valuation work while also tempering their overall rating.Aviation and tourism are no longer affected.
why ！ $NAS.OL (Norwegian Air Shuttle) Norwegian In recent years, the aviation and tourism industries have become less sensitive to geopolitical risks than in the past. While war may still affect demand on specific routes and in certain regions, overall tourism demand is structurally diversified.NAS: Hold Downgrade And Buybacks Will Support Future Cash Flow Upside
Analysts have trimmed their price target on Norwegian Air Shuttle to NOK 18 from about NOK 18.63, reflecting updated views on discount rates, revenue growth expectations, profit margins, and future P/E assumptions that align with the recent downgrade to Hold. Analyst Commentary Recent research suggests that the updated NOK 18 price target and Hold rating reflect a more balanced view of Norwegian Air Shuttle, with analysts weighing both potential upside and key execution risks.Is Now The Time To Put Norwegian Air Shuttle (OB:NAS) On Your Watchlist?
Jan 29
Norwegian Air Shuttle's revenue will grow by 73.56% and profitability will soar
has initiated a buy-back program for up to 3,000,000 of its own shares, as part of its share savings plan and long-term incentive program for executive management. This move, facilitated by DNB Carnegie, is aimed at strengthening the company’s financial strategies and aligning management interests with shareholder value, potentially impacting its market positioning and stakeholder confidence.NAS: Short Haul Leisure Focus Will Support Future Cash Flow Upside
Analysts have slightly lifted their price target on Norwegian Air Shuttle to NOK 18.63 from NOK 18.17, reflecting updated assumptions on discount rate, revenue growth, profit margins and future P/E, even as recent Street research includes a downgrade to Hold with an NOK 18 target. Analyst Commentary Recent research points to a more balanced stance on Norwegian Air Shuttle, with the latest move being a downgrade to Hold and a price target of NOK 18, broadly in line with the refreshed NOK 18.63 target.There's No Escaping Norwegian Air Shuttle ASA's (OB:NAS) Muted Earnings
Jan 08NAS: Short Haul Leisure Focus And Balanced Risks Will Shape September Results
Analysts have raised their price target for Norwegian Air Shuttle from NOK 17.00 to NOK 17.75, reflecting updated assumptions on discount rates, revenue growth, profit margins and future P/E, along with a current preference for short haul and leisure exposure within European airlines. Analyst Commentary Bullish Takeaways Bullish analysts see the NOK 17.75 price target as aligned with updated assumptions on revenue, margins and future P/E, suggesting the current valuation reflects more constructive expectations for the business model.NAS: Leisure Demand Resilience Will Likely Prove Insufficient To Justify Current Optimism
Analysts have modestly raised their fair value estimate for Norwegian Air Shuttle from NOK 13.00 to about NOK 13.49, reflecting improved confidence in the carrier's short haul and leisure focused strategy, despite more tempered expectations for revenue growth and profit margins. Analyst Commentary Recent research updates highlight a more constructive stance on Norwegian Air Shuttle, with some institutions lifting their ratings and price targets in recognition of the airline's disciplined capacity management and focus on profitable short haul and leisure routes.NAS: Short Haul Leisure Demand Will Support September Results Amid Balanced Risk Profile
Analysts have nudged their price target on Norwegian Air Shuttle higher, from NOK 17.00 to NOK 17.75. They cite a stronger preference for short haul and leisure focused European airlines, as well as modest improvements in profitability expectations.NAS: Preference For Short Haul And Leisure Will Support Strong September Results
Norwegian Air Shuttle's price target was raised by analysts from NOK 17 to NOK 17.75. This reflects improved sentiment around the airline's strong positioning in short haul and leisure travel heading into the September quarter results.NAS: Short Haul And Leisure Focus Will Drive Performance Into September Results
Narrative Update on Norwegian Air Shuttle The analyst price target for Norwegian Air Shuttle has increased from NOK 17.00 to NOK 17.75. This change reflects analysts' preference for short haul and leisure segment performance among European airlines ahead of the September quarter results.Shareholders Will Be Pleased With The Quality of Norwegian Air Shuttle's (OB:NAS) Earnings
Oct 30Analysts Boost Norwegian Air Shuttle Price Target Citing Strong Short Haul and Leisure Outlook
Analysts have raised their price target for Norwegian Air Shuttle from NOK 17.30 to NOK 18.17. They cite a more favorable outlook for short haul and leisure travel segments in the upcoming quarter.Is There Now An Opportunity In Norwegian Air Shuttle ASA (OB:NAS)?
Sep 12Norwegian Air Shuttle (OB:NAS) Has A Somewhat Strained Balance Sheet
Aug 26Earnings Update: Here's Why Analysts Just Lifted Their Norwegian Air Shuttle ASA (OB:NAS) Price Target To kr16.32
Jul 16Investors Continue Waiting On Sidelines For Norwegian Air Shuttle ASA (OB:NAS)
Jun 27This Is Why Norwegian Air Shuttle ASA's (OB:NAS) CEO Can Expect A Bump Up In Their Pay Packet
May 08Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?
Mar 13Here's Why Norwegian Air Shuttle (OB:NAS) Can Manage Its Debt Responsibly
Feb 10
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 14Returns On Capital Are Showing Encouraging Signs At Norwegian Air Shuttle (OB:NAS)
Dec 03Norwegian Air Shuttle (OB:NAS) Is Posting Promising Earnings But The Good News Doesn’t Stop There
Nov 02An Intrinsic Calculation For Norwegian Air Shuttle ASA (OB:NAS) Suggests It's 50% Undervalued
Oct 24Does Norwegian Air Shuttle (OB:NAS) Have A Healthy Balance Sheet?
Sep 11Is Now An Opportune Moment To Examine Norwegian Air Shuttle ASA (OB:NAS)?
Aug 01Lacklustre Performance Is Driving Norwegian Air Shuttle ASA's (OB:NAS) 28% Price Drop
Jul 05Should You Be Adding Norwegian Air Shuttle (OB:NAS) To Your Watchlist Today?
Jun 21Norwegian Air Shuttle (OB:NAS) Has A Pretty Healthy Balance Sheet
May 30Need To Know: Analysts Are Much More Bullish On Norwegian Air Shuttle ASA (OB:NAS) Revenues
May 01Is Now The Time To Look At Buying Norwegian Air Shuttle ASA (OB:NAS)?
Mar 11Earnings Not Telling The Story For Norwegian Air Shuttle ASA (OB:NAS) After Shares Rise 25%
Feb 07Here's Why We Think Norwegian Air Shuttle (OB:NAS) Might Deserve Your Attention Today
Jan 28Norwegian Air Shuttle ASA's (OB:NAS) Earnings Are Not Doing Enough For Some Investors
Dec 23Shareholder Returns
| NAS | NO Airlines | NO Market | |
|---|---|---|---|
| 7D | 7.6% | -1.0% | 1.1% |
| 1Y | 3.2% | 5.0% | 26.1% |
Return vs Industry: NAS underperformed the Norwegian Airlines industry which returned 9.1% over the past year.
Return vs Market: NAS underperformed the Norwegian Market which returned 27.7% over the past year.
Price Volatility
| NAS volatility | |
|---|---|
| NAS Average Weekly Movement | 6.4% |
| Airlines Industry Average Movement | 6.5% |
| Market Average Movement | 5.3% |
| 10% most volatile stocks in NO Market | 11.7% |
| 10% least volatile stocks in NO Market | 3.2% |
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 (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1993 | 7,672 | Geir Karlsen | www.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
| NAS fundamental statistics | |
|---|---|
| Market cap | NOK 15.23b |
| Earnings (TTM) | NOK 2.65b |
| Revenue (TTM) | NOK 37.65b |
5.8x
P/E Ratio0.4x
P/S RatioIs NAS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NAS income statement (TTM) | |
|---|---|
| Revenue | NOK 37.65b |
| Cost of Revenue | NOK 29.74b |
| Gross Profit | NOK 7.91b |
| Other Expenses | NOK 5.26b |
| Earnings | NOK 2.65b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Jul 14, 2026
| Earnings per share (EPS) | 2.52 |
| Gross Margin | 21.00% |
| Net Profit Margin | 7.03% |
| Debt/Equity Ratio | 76.3% |
How did NAS perform over the long term?
See historical performance and comparisonDividends
11.0%
Current Dividend Yield65%
Payout RatioDoes NAS pay a reliable dividends?
See NAS dividend history and benchmarks| Norwegian Air Shuttle dividend dates | |
|---|---|
| Ex Dividend Date | May 07 2026 |
| Dividend Pay Date | May 15 2026 |
| Days until Ex dividend | 4 days |
| Days until Dividend pay date | 12 days |
Does NAS pay a reliable dividends?
See NAS dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/02 09:25 |
| End of Day Share Price | 2026/04/30 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 21 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Andrew Lobbenberg | Barclays |
| Katherine Somerville | Berenberg |