NOA Financials North American Construction Group Ltd.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 82 d ago Overview →

Growth & profitability

Revenue has grown 20.8% per year over the past 5 years.
Net income has grown slower than revenue (-7.2% vs 20.8% per year).
Operating margin has contracted, at 8.5% in the latest year.

Financial health

Total debt has grown faster than revenue (40.1% vs 20.8% per year).
Operating income covered interest expense 1.9× in the latest year.

Shareholder returns

Dividends have been paid for 12 consecutive years, consuming 39.6% of earnings.
The dividend has grown 25.1% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.3B	$34M	12.6%	8.5%	7.4%	1.9%	-$17M	—	$100M
2024	$1.2B	$44M	18.0%	13.1%	11.3%	2.6%	-$63M	—	$78M
2023	$965M	$63M	16.1%	10.0%	17.7%	4.1%	$75M	—	$89M
2022	$770M	$67M	13.2%	9.2%	22.0%	6.9%	$58M	$379M	$69M
2021	$654M	$51M	13.8%	8.4%	18.5%	5.9%	$53M	$326M	$17M
2020	$498M	$49M	18.5%	13.5%	19.8%	5.9%	$29M	$358M	$43M
2019	$719M	$37M	13.4%	8.2%	20.5%	4.7%	$918000	$332M	$6M
2018	$410M	$15M	16.8%	7.3%	10.2%	2.2%	$28M	$296M	$20M
2017	$293M	$5M	13.6%	4.6%	3.6%	1.4%	-$4M	$70M	$8M
2016	—	-$445000	—	—	-0.3%	-0.1%	$13M	$39M	$14M
2015	—	-$7M	—	—	-4.4%	-2.1%	—	$48M	$32M
2014	—	-$1M	—	—	-0.6%	-0.3%	—	$64M	$956000
2013	—	$69M	—	—	36.1%	15.5%	—	$90M	$14M
2013	—	-$1M	—	—	-1.1%	-0.2%	—	$312M	$598000
2012	—	-$14M	—	—	-10.3%	-2.0%	—	$337M	$1M

Valuation over time

How the market has priced NOA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 8.0× (Mar '23) to 12.8× (Sep '26).
The price-to-sales ratio has fallen from 0.7× (Mar '23) to 0.3× (Sep '26).
The dividend yield has risen from 1.4% (Mar '23) to 3.1% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is NOA growing its revenue and profit?

Over the past 5 years, North American Construction Group Ltd.'s revenue has grown 20.8% per year, and net income declined 7.2% per year. These are computed facts, not advice.

How much debt does NOA have?

As of FY2025, North American Construction Group Ltd. reported — of total debt against $100M of cash; operating income covered interest expense 1.9×.

What is NOA's profit margin?

In FY2025, gross margin was 12.6%, operating margin 8.5%, and net margin 2.6%.

What is NOA's P/E ratio?

As of Sep '26, North American Construction Group Ltd. traded at a price-to-earnings ratio of about 12.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.