profit from every NOK 100 of sales.
NOK 0NOK 100
Norwegian Air Shuttle
NOK 13.43+0.11% today
-23.1% in 1 year
1-year low NOK 10.791-year high NOK 17.62
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay NOK 5.23 for every NOK 1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Norwegian Air Shuttle sold, what it kept, and what it did with the cash.
Sales went from NOK 18.9 billion in 2022 to NOK 37.6 billion in 2025, with NOK 2.71 billion of profit last year.
SalesProfit
Norwegian Air Shuttle handed back 42% of the cash it generated last year.
NOK 950M
Free cash flow 2025NOK 2.4B
Bought back its own sharesNOK 48M
Paid as dividendsNOK 950M
Cash vs. debtNOK 6.3B vs. NOK 19.6B
Norwegian Air Shuttle vs. similar companies
Norwegian Air Shuttle grows in the middle of these 5 and is the cheapest for its profits.
| Company | Profit from NOK 100 of sales | Sales growth a year | Price per NOK 1 of profit |
|---|---|---|---|
| Norwegian Air Shuttle | 5.2× · Cheap | ||
 Delta Air Lines | 11.3× · Cheap | ||
 International Consolidated Airlines Group | 7.0× · Cheap | ||
 InterGlobe Aviation | No profit yet | ||
 Air China | No profit yet |
AI analysis
An AI analyst reads Norwegian Air Shuttle's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 18,869 | 25,539 | 35,316 | 37,646 | |
| 1,900 | 5,437 | 7,200 | 8,677 | |
| -604 | 2,267 | 2,161 | 3,323 | |
| 4,208 | 6,186 | 7,297 | 8,518 | |
| 1,006 | 1,737 | 1,355 | 2,708 | |
| 0.89 | 1.54 | 1.20 | 2.49 | |
| 10.1% | 21.3% | 20.4% | 23.0% | |
| -3.2% | 8.9% | 6.1% | 8.8% | |
| 5.3% | 6.8% | 3.8% | 7.2% |
Balance sheet
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 22,670 | 30,550 | 37,600 | 42,031 |
| Cash | 6,606 | 8,471 | 8,775 | 6,318 |
| Total debt | 10,085 | 14,027 | 16,077 | 19,551 |
| Total liabilities | 18,466 | 24,777 | 30,359 | 34,363 |
| 4,203 | 5,773 | 7,241 | 7,668 | |
| 1,125 | 1,127 | 1,127 | 1,086 | |
| 9.3% | 10.4% | 8.3% | 12.3% | |
| 23.9% | 30.1% | 18.7% | 35.3% |
Cash flow
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 2,426 | 5,258 | 6,946 | 7,840 | |
| 874 | 586 | 1,308 | 5,450 | |
| 1,552 | 4,672 | 5,638 | 2,390 | |
| Dividends paid | 8 | – | – | 950 |
| – | – | 0 | 48 | |
| – | – | – | – |
Valuation
- 5.2×
- –
- 0.13
- 1.9×
- 0.4×
- 5.9×
- 3.2×
- 16.9%
- 19.1%
- 6.7%
Profitability
- 23.0%
- 8.8%
- 7.2%
- –
- 12.3%
- 10.1%
- –
- –
- –
- –
Growth
- +25.9%
- +40.9%
- –
- –
- −1.2%
Financial health
- 1.6×
- 2.55
- –
- 3.4×
- 1.03
- –
- –
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 25%of 982
Top 48%of 991
Top 1%of 875
Top 9%of 988
Top 6%of 988
6.7%of the share price, paid each year
On $1,000 invested$67a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
35.1% of its profit
Room to growStretchedMore than it earns: 39.7%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
4/7Passes 4 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
55No pass
Benjamin Graham
61Pass
Philip Fisher
67Pass
Peter Lynch
86Pass
Joel Greenblatt
64Pass
Charlie Munger
43No pass
Terry Smith
41No pass
Questions about Norwegian Air Shuttle
Is Norwegian Air Shuttle a good stock to buy?
A business with weak numbers, and the price looks low. 4 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Norwegian Air Shuttle AI analysis
What does Norwegian Air Shuttle do?
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, as well as cargo and other activities. It is in Airlines, based in Fornebu, Norway, with 6,352 employees.
Does Norwegian Air Shuttle pay a dividend?
Yes. At today's price the dividend is 6.7% a year, about 35% of its yearly profit. In 2025 it paid out NOK 950 million in dividends.
Is Norwegian Air Shuttle stock halal?
No. Norwegian Air Shuttle does not pass our halal screen: its debt is 138% of its market value, at or above the 33% limit. How we check
How has Norwegian Air Shuttle stock done over the past year?
Down 23.1% over the past twelve months, to NOK 13.43. It traded between NOK 10.79 and NOK 17.62 and is 23.8% below its high.
Who are Norwegian Air Shuttle's competitors?
The largest listed companies in the same industry are Delta Air Lines, International Consolidated Airlines Group, InterGlobe Aviation and Air China. The peers table on this page compares their profit, growth and price with Norwegian Air Shuttle's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.