Valuation Norwegian Air Shuttle ASA

Equities

Market Closed - Oslo Bors Other stock markets 15:45:00 17/04/2026 BST			5-day change	1st Jan Change
14.70 ^NOK	+5.34%		-2.20%	-15.76%

04-17	Airlines cancel flights amid Middle East conflict	RE
04-16	Pareto Securities upgrades Norwegian Air Shuttle to Buy from Hold, sets price target at NOK 17 (19)	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	9,982	6,830	10,310	10,603	18,362	15,448	-	-
Change	-	-31.58%	50.96%	2.84%	73.18%	-15.87%	-	-
Enterprise Value (EV) ¹	11,664	9,156	14,858	15,800	27,853	25,547	25,857	28,519
Change	-	-21.5%	62.28%	6.34%	76.28%	-8.28%	1.21%	10.3%
P/E ratio	6.32x	8.25x	6.96x	9.17x	7.01x	10.1x	6.76x	6.06x
PBR	3.07x	1.63x	1.79x	1.47x	2.39x	1.84x	1.37x	1.25x
PEG	-	-0.2x	0.1x	-0.4x	0x	-0.2x	0.1x	0.5x
Capitalization / Revenue	1.97x	0.36x	0.4x	0.3x	0.49x	0.37x	0.37x	0.34x
EV / Revenue	2.3x	0.49x	0.58x	0.45x	0.74x	0.62x	0.61x	0.63x
EV / EBITDA	-5.18x	7.34x	2.57x	2.2x	3.72x	3.24x	3.02x	2.94x
EV / EBIT	-3.31x	6.12x	6.55x	7.3x	8.38x	9.18x	7.25x	6.87x
EV / FCF	2.22x	5.57x	3.12x	2.7x	9.41x	5.36x	4.41x	4.43x
FCF Yield	45.1%	18%	32.1%	37%	10.6%	18.7%	22.7%	22.5%
Dividend per Share ²	-	-	-	-	0.9	0.7333	0.66	0.8767
Rate of return	-	-	-	-	5.16%	4.99%	4.49%	5.96%
EPS ²	1.7	0.89	1.54	1.2	2.49	1.448	2.176	2.427
Distribution rate	-	-	-	-	36.1%	50.6%	30.3%	36.1%
Net sales ¹	5,068	18,869	25,539	35,317	37,646	41,535	42,269	45,027
EBITDA ¹	-2,254	1,247	5,789	7,197	7,478	7,877	8,576	9,703
EBIT ¹	-3,524	1,495	2,267	2,163	3,323	2,782	3,568	4,154
Net income ¹	1,870	1,006	1,737	1,355	2,708	1,623	2,296	2,619
Net Debt ¹	1,682	2,326	4,548	5,197	9,491	10,099	10,409	13,071
Reference price ²	10.75	7.34	10.72	11.00	17.45	14.70	14.70	14.70
Nbr of stocks (in thousands)	928,518	929,990	961,771	963,880	1,052,237	1,050,910	-	-
Announcement Date	18/02/22	16/02/23	16/02/24	13/02/25	13/02/26	-	-	-

¹NOK in Million²NOK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
NORWEGIAN AIR SHUTTLE ASA	10.15x	0.62x	3.24x	4.99%	1.65B
DELTA AIR LINES, INC.	14.28x	0.88x	7.5x	1.08%	46.86B
UNITED AIRLINES HOLDINGS, INC.	9.43x	0.79x	6.46x	-.--%	33.05B
RYANAIR HOLDINGS PLC	12.53x	1.6x	6.61x	1.81%	31.85B
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.	6.86x	0.76x	3.47x	2.36%	25.05B
INTERGLOBE AVIATION LIMITED	443.42x	2.42x	12.82x	0.22%	19.38B
SINGAPORE AIRLINES LIMITED	18.91x	1.28x	5.78x	4.1%	16.26B
LATAM AIRLINES GROUP S.A.	10.35x	1.36x	5.23x	2.89%	16.1B
AIR CHINA LIMITED	-11.77x	1.73x	12.48x	-.--%	15.86B
CHINA SOUTHERN AIRLINES COMPANY LIMITED	89.02x	1.71x	8.24x	0.09%	13.76B
Average	60.32x	1.31x	7.18x	1.75%	21.98B
Weighted average by Cap.	53.11x	1.27x	7.31x	1.34%