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Norwegian Air Shuttle ASAOSL:NAS -2.14%70 Debt-to-EBITDA is 6.50 as of Jun. 2026, which is 177% above its 10-year median of 2.35. GuruFocus rates OSL:NAS with a GF Score™ of 70/100 and a GF Value™ of kr15.73 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 870 Transportation companies, Norwegian Air Shuttle ASA ranks better than 52.18% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Norwegian Air Shuttle ASA's Debt-to-EBITDA or its related term are showing as below:
OSL:NAS'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -132.52 Med: 2.35 Max: 100.41
Current: 2.54
During the past 13 years, the highest Debt-to-EBITDA Ratio of Norwegian Air Shuttle ASA was 100.41. The lowest was -132.52. And the median was 2.35.
OSL:NAS's Debt-to-EBITDA is ranked better than 52.18% of 870
companies
in the Transportation industry
Industry Median: 2.645
vs OSL:NAS: 2.54
Norwegian Air Shuttle ASA (OSL:NAS) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Norwegian Air Shuttle ASA Debt-to-EBITDA Related Terms
Norwegian Air Shuttle ASA Debt-to-EBITDA Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
OSL:NAS vs DAL, UAL, LUV: Debt-to-EBITDA Comparison
For the Airlines subindustry, Norwegian Air Shuttle ASA's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Norwegian Air Shuttle ASA Debt-to-EBITDA vs Transportation Industry
For the Transportation industry and Industrials sector, Norwegian Air Shuttle ASA's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Norwegian Air Shuttle ASA's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
Norwegian Air Shuttle ASA (OSL:NAS) has a Debt-to-EBITDA of 6.50 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Norwegian Air Shuttle ASA. This is 177% above median its historical median of 2.35. According to the industry distribution chart, Norwegian Air Shuttle ASA ranks #416 out of 870 companies in the Transportation industry, placing it in the top 47.8%.
Is Norwegian Air Shuttle ASA's Debt-to-EBITDA too high?
Norwegian Air Shuttle ASA's current Debt-to-EBITDA of 6.50 is 177% above median its 10-year median of 2.35. The Transportation industry median Debt-to-EBITDA is 2.65. Norwegian Air Shuttle ASA's value of 6.50 is 145.7% above this industry median. Based on the distribution chart, Norwegian Air Shuttle ASA ranks #416 out of 870 companies in the Transportation industry, which is above the industry midpoint. Overall, Norwegian Air Shuttle ASA has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Norwegian Air Shuttle ASA's Debt-to-EBITDA compare to DAL and UAL?
According to the Transportation industry distribution chart, Norwegian Air Shuttle ASA ranks #416 out of 870 companies for Debt-to-EBITDA. This puts Norwegian Air Shuttle ASA in the upper half of its industry. The industry median Debt-to-EBITDA is 2.65. Norwegian Air Shuttle ASA's value of 6.50 is 145.7% above this benchmark. While the company's 10-year median is 2.35 vs. the industry median of 2.65, Norwegian Air Shuttle ASA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Transportation company?
The median Debt-to-EBITDA among Transportation companies is 2.65, based on 870 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norwegian Air Shuttle ASA's current Debt-to-EBITDA of 6.50 is 145.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Norwegian Air Shuttle ASA. For the Transportation industry, the median Debt-to-EBITDA is 2.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norwegian Air Shuttle ASA's current Debt-to-EBITDA is 6.50, which is 177% above median its own 10-year median of 2.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norwegian Air Shuttle ASA stock overvalued right now?
Based on GuruFocus' analysis, Norwegian Air Shuttle ASA (OSL:NAS) is currently considered Modestly Undervalued. The stock's GF Value™ is kr15.73, compared to a current price of kr12.58 — trading 20.1% below its estimated fair value. The current Debt-to-EBITDA is 6.50, which is 177% above median its 10-year median of 2.35 and 145.7% above the Transportation industry median of 2.65. Norwegian Air Shuttle ASA's overall GF Score™ is 70/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Norwegian Air Shuttle ASA (OSL:NAS), the current Debt-to-EBITDA is 6.50 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Norwegian Air Shuttle ASA (OSL:NAS) Overvalued in 2026?
Based on GuruFocus' analysis, Norwegian Air Shuttle ASA stock appears to be undervalued.
The current stock price of kr12.58 is trading 20.1% below its estimated GF Value™ of kr15.73.
GuruFocus considers Norwegian Air Shuttle ASA to be Modestly Undervalued.
Key valuation signals for OSL:NAS:
Debt-to-EBITDA: 6.50 (177% above median its 10-year median of 2.35)
GF Value™: kr15.73 vs. price of kr12.58 (20.1% below fair value)
Industry Position: 145.7% above the Transportation median (#416 of 870)
No single metric tells the full story. See the OSL:NAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norwegian Air Shuttle ASA is an airline that operates short-haul flights across the Nordic countries and to destinations in Europe. The company has organized its operations into four functional business areas, including Commercial, Operations, Wideroe and Support Functions. With over three hundred routes in its network, Norwegian Air Shuttle provides passengers with quality flights at affordable fares. The company's focus is on low-cost air travel for passengers, and it believes in offering friendly and helpful service while maintaining operational excellence.
70GF Score
Get the complete analysis for OSL:NAS
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