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Norwegian Air Shuttle stock: key metrics
NAS.OLNorwegian Air Shuttle had an operating margin of 9.1% and a return on invested capital (ROIC) of 20.2% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 28.0% | −1.0% | −0.7% |
| 2007 | 32.5% | 3.2% | 2.0% |
| 2008 | 100.0% | −5.4% | 0.1% |
| 2009 | 32.4% | 7.8% | 6.1% |
| 2010 | 25.0% | 2.5% | 2.0% |
| 2011 | 25.7% | 4.0% | 1.2% |
| 2012 | 12.0% | 3.1% | 3.6% |
| 2013 | 9.9% | 6.2% | 2.1% |
| 2014 | 3.5% | −7.2% | −5.5% |
| 2015 | 12.0% | 1.5% | 1.1% |
| 2016 | 13.5% | 7.0% | 4.4% |
| 2017 | 3.7% | −6.5% | −5.8% |
| 2018 | −0.4% | −9.6% | −3.6% |
| 2019 | 11.2% | 1.1% | −3.7% |
| 2020 | −59.3% | −261.3% | −253.3% |
| 2021 | −34.5% | −55.0% | 36.9% |
| 2022 | 10.1% | −2.5% | 5.3% |
| 2023 | 20.1% | 8.7% | 6.8% |
| 2024 | 16.1% | 5.3% | 3.8% |
| 2025 | 16.3% | 9.1% | 7.4% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | −8.4% | −6.5% | −2.1% |
| 2007 | 16.6% | 13.5% | 3.6% |
| 2008 | 0.4% | −38.6% | 0.1% |
| 2009 | 27.9% | 29.6% | 8.9% |
| 2010 | 9.5% | 6.1% | 2.6% |
| 2011 | 6.3% | 7.4% | 1.4% |
| 2012 | 18.9% | 5.2% | 3.8% |
| 2013 | 11.7% | 10.7% | 2.2% |
| 2014 | −50.7% | −10.9% | −4.7% |
| 2015 | 8.3% | 2.1% | 0.8% |
| 2016 | 28.1% | 6.0% | 3.0% |
| 2017 | −86.0% | −6.4% | −4.1% |
| 2018 | −86.6% | −10.9% | −2.6% |
| 2019 | −39.2% | 0.8% | −1.9% |
| 2020 | 200.0% | −57.1% | −46.5% |
| 2021 | 57.2% | −57.9% | 9.9% |
| 2022 | 23.9% | −7.3% | 4.4% |
| 2023 | 30.1% | 25.5% | 5.7% |
| 2024 | 18.7% | 16.5% | 3.6% |
| 2025 | 35.3% | 20.2% | 6.4% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = NOK 9.5325)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 18 Oct 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.