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North American Construction Group Ltd
TSX:NOA

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North American Construction Group Ltd Logo
North American Construction Group Ltd
TSX:NOA
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Price: 30.73 CAD 2.57%
Updated: Mar 28, 2024

Intrinsic Value

North American Construction Group Ltd. engages in providing mining and heavy construction services. [ Read More ]

The intrinsic value of one NOA stock under the Base Case scenario is 62.51 CAD. Compared to the current market price of 30.73 CAD, North American Construction Group Ltd is Undervalued by 51%.

Key Points:
NOA Intrinsic Value
Base Case
62.51 CAD
Undervaluation 51%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
North American Construction Group Ltd

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Fundamental Analysis

Impressive Performance and Positive Outlook
2023-Q4 Earnings Call

Impressive Performance and Positive Outlook

The company celebrates an impressive year with achievements like the MacKellar acquisition and record safety performance, boasting a total recordable rate of 0.29. EBITDA and EPS trends over the past five years remained strong despite the pandemic. Australian market's upside utilization potential contributes positively, with the fleet aiming for over 85% utilization. Financially, the company invested $383 million in the MacKellar Group and achieved a strong initial EBITDA margin, exceeding past records by 20%. Net income for Q4 hit $77 million, with Q4 revenues reaching $329 million. Operationally, the telematics system delivered maintenance savings and reliability, optimizing equipment use. Looking ahead, the company anticipates maintaining margins and delivering on shareholder value. Despite specific setbacks in some mining projects, the overall financial and operational health of the company is robust, suggesting a bright future.

Financials

Balance Sheet Decomposition
North American Construction Group Ltd

Current Assets 295.2m
Cash & Short-Term Investments 88.6m
Receivables 132.9m
Other Current Assets 73.7m
Non-Current Assets 1.3B
Long-Term Investments 81.4m
PP&E 1.2B
Intangibles 7m
Other Non-Current Assets 7.1m
Current Liabilities 324m
Accounts Payable 146.2m
Accrued Liabilities 96.5m
Other Current Liabilities 81.4m
Non-Current Liabilities 865.8m
Long-Term Debt 611.3m
Other Non-Current Liabilities 254.5m
Efficiency

Earnings Waterfall
North American Construction Group Ltd

Revenue
957.2m CAD
Cost of Revenue
-803m CAD
Gross Profit
154.2m CAD
Operating Expenses
-56.8m CAD
Operating Income
97.4m CAD
Other Expenses
-34.2m CAD
Net Income
63.1m CAD

Free Cash Flow Analysis
North American Construction Group Ltd

Last Value
3-Years Average
FCF Margin
Conversion Rate
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Fundamental Scores

NOA Profitability Score
Profitability Due Diligence

North American Construction Group Ltd's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

Positive 3-Year Average ROE
Exceptional 3-Years Revenue Growth
Positive Free Cash Flow
Exceptional 1-Year Revenue Growth
54/100
Profitability
Score

North American Construction Group Ltd's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

NOA Solvency Score
Solvency Due Diligence

North American Construction Group Ltd's solvency score is 29/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Short-Term Solvency
Average D/E
Positive Net Debt
29/100
Solvency
Score

North American Construction Group Ltd's solvency score is 29/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NOA Price Targets Summary
North American Construction Group Ltd

Wall Street analysts forecast NOA stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NOA is 44.71 CAD with a low forecast of 33.33 CAD and a high forecast of 63 CAD.

Lowest
Price Target
33.33 CAD
8% Upside
Average
Price Target
44.71 CAD
45% Upside
Highest
Price Target
63 CAD
105% Upside
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View Analyst Estimates

Competitive Landscape

Shareholder Return

NOA Price
North American Construction Group Ltd

1M 1M
-9%
6M 6M
+5%
1Y 1Y
+40%
3Y 3Y
+135%
5Y 5Y
+112%
10Y 10Y
+347%
Annual Price Range
30.73
52w Low
21.9043
52w High
34.36
Price Metrics
Average Annual Return 7.61%
Standard Deviation of Annual Returns 30.5%
Max Drawdown -67%
Shares Statistics
Market Capitalization 821.6m CAD
Shares Outstanding 27 827 300
Percentage of Shares Shorted 3.86%

NOA Return Decomposition
Main factors of price return

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NOA News

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Company Profile

North American Construction Group Ltd Logo
North American Construction Group Ltd

Country

Canada

Industry

N/A

Market Cap

821.6m CAD

Dividend Yield

1.3%

Description

North American Construction Group Ltd. engages in providing mining and heavy construction services. The company is headquartered in Acheson, Alberta and currently employs 197 full-time employees. The company went IPO on 2006-11-22. The firm's operating divisions include Heavy Construction and Mining and Equipment Maintenance Services. The Heavy Construction and Mining division is engaged in hard rock and oil sands mining, overburden removal, mine site development, and mine reclamation. This division also provides constructability design reviews, budgetary cost estimates, and a range of planning and scheduling services. The Equipment Maintenance Services division offers maintenance procedures on-site, as well as in its multiple shop facilities. The company provides various services, including constructability reviews, budgetary cost estimates, design-build construction, portable steaming, equipment inspections and onsite haul truck brake testing, among others.

Contact

ALBERTA
Acheson
27287 100 Ave
+17809607171.0
http://www.nacg.ca/

IPO

2006-11-22

Employees

197

Officers

President, CEO & Director
Mr. Joseph C. Lambert
Chief Financial Officer
Mr. Jason William Veenstra C.A., CPA
COO & Regional President of MacKellar Group
Mr. Barry Wade Palmer
Chief Legal Officer & Corporate Secretary
Mr. Jordan A. Slator
Chief Human Resources Officer
Mr. David Grant Kallay
Director of Investor Relations and Director of Finance & Information Technology
Mr. David Brunetta C.M.A., CPA

See Also

Discover More
What is the Intrinsic Value of one NOA stock?

The intrinsic value of one NOA stock under the Base Case scenario is 62.51 CAD.

Is NOA stock undervalued or overvalued?

Compared to the current market price of 30.73 CAD, North American Construction Group Ltd is Undervalued by 51%.