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North American Construction Group Ltd. (NOA.TO)

CAD18.67 -0.20 (-1.06%)
CA TSX Energy Oil & Gas Equipment & Services
Address 27287 – 100 Avenue T7X 6H8
Acheson, AB, CA
CEO Barry Wade Palmer
Website nacg.ca
IPO 2007-10-25
ISIN CA6568111067

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Also trades on New York Stock Exchange · NOA (USD) Toronto Stock Exchange · NOA.TO (CAD)
Description

North American Construction Group Ltd. (NACG) specializes in providing heavy construction, mining, and equipment maintenance services across Canada, the United States, and Australia. Its Heavy Construction & Mining division undertakes a comprehensive range of projects, from initial constructability reviews and budgetary cost estimates to full design-build construction and project management. Specific capabilities include contract mining, pre-stripping, pit pioneering, and the removal and stockpiling of overburden and muskeg. This division also handles site preparation, air strip construction, site dewatering, perimeter ditching, constructing tailings and process pipelines, and developing haulage and access roads. Further expertise lies in tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and essential reclamation services. Complementing these operations, the Equipment Maintenance Services division offers extensive support for machinery fleets. Its services span routine tasks like fuel and lubrication, portable steaming, and detailed equipment inspections, along with the supply of necessary parts and components. More complex offerings include major overhauls and complete equipment refurbishment, on-site haul truck brake testing, and continuous on-site maintenance support. Specialized services feature undercarriage rebuilds, precision machining, hose manufacturing, and dedicated technical assistance, alongside expert welding, fabrication, repair work, weld certification, and inspection services. As of December 31, 2021, NACG maintained a substantial heavy equipment fleet comprising 632 units. The company primarily caters to clients within the resource development and industrial construction sectors. Established in 1953 and headquartered in Acheson, Canada, the company adopted its current name, North American Construction Group Ltd., in April 2018, having previously operated as North American Energy Partners Inc.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD18.67 -0.20 (-1.06%)
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Volume Profile
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Liquidity & share structure
Average Volume
100.9K
Beta
1.17
Float Shares
25.28M
Free Float %
88.6%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.78% +5.10% +9.54% -4.24% +11.04% +6.38% -11.12% -19.15% +25.87% +521.89% +13.07%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (6 ratings, all time) Buy
Price Targets & DCF
Current price
18.67
DCF (Unlevered) 5.18 -72.3%
DCF (Levered) 2.84 -84.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 63% Bullish
Rating 2026-05 Change
Strong Buy 2 -1
Buy 3 0
Hold 2 0
Sell 0 0
Strong Sell 1 0
Quality scores
Altman Z-Score
1.28
Distress
Piotroski F-Score
8 / 9
Strong
MOAT Score
3 / 10
No MOAT
Composite Rating
B-
Overall Score
3 / 5
Medium
DCF Score
2 / 5
Medium
ROE Score
3 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Oil & Gas Equipment & Services: +6.7%
    +10.2% Q1'26: -6.3% (vs Q1'25)
  • EPS growth Oil & Gas Equipment & Services: +14.3%
    -25.0% Q1'26: -9.5% (vs Q1'25)
  • FCF margin FCF growth · Oil & Gas Equipment & Services: +40.2%
    +1.9% Q1'26: -5.9% (vs Q1'25)
  • EBIT margin Oil & Gas Equipment & Services: +10.9%
    +8.6% Q1'26: +6.8% (vs Q1'25)
  • ROIC Oil & Gas Equipment & Services: +6.7%
    +5.2% Q1'26: +4.0% (vs Q1'25)
  • Share dilution Oil & Gas Equipment & Services: +0.3%
    -2.4% Q1'26: -1.2% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Oil & Gas Equipment & Services: 0.32×
    2.80× Q1'26: 3.06× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.16) × ERP
WACC = 42% × Ke + 58% × Kd (6.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 5.18 Current price: 18.67
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
4 Rev. Ana.
4 EPS Ana.
Dec 2027
4 Rev. Ana.
5 EPS Ana.
Dec 2028
2 Rev. Ana.
1 EPS Ana.
Revenue
471.78M
est: 480.96M (-1.9%)
281.28M
est: 291.47M (-3.5%)
213.18M
est: 218.41M (-2.4%)
292.56M
est: 287.48M (+1.8%)
410.06M
est: 379.68M (+8.0%)
719.07M
est: 730.40M (-1.6%)
500.37M
est: 518.11M (-3.4%)
654.14M
est: 675.36M (-3.1%)
769.54M
est: 738.90M (+4.1%)
957.22M
est: 1.09B (-12.3%)
1.17B
est: 1.16B (+0.6%)
1.28B
est: 1.28B (0.0%)
1.46B
1.45B – 1.46B
+13.3% YoY
1.54B
1.46B – 1.63B
+5.9% YoY
1.65B
1.60B – 1.70B
+6.7% YoY
EBITDA
59.27M
est: 135.42M (-56.2%)
42.51M
est: 19.84M (+114.3%)
47.97M
est: 18.92M (+153.6%)
57.65M
est: 47.78M (+20.7%)
88.40M
est: 59.67M (+48.1%)
163.05M
est: 137.70M (+18.4%)
160.35M
est: 85.95M (+86.6%)
186.74M
est: 111.65M (+67.2%)
227.18M
est: 109.23M (+108.0%)
252.60M
est: 293.21M (-13.9%)
283.06M
est: 311.53M (-9.1%)
329.19M
est: 345.26M (-4.7%)
391.17M
388.52M – 393.45M
+13.3% YoY
414.38M
393.22M – 438.30M
+5.9% YoY
442.08M
428.88M – 456.61M
+6.7% YoY
EBIT
9.91M
est: 60.61M (-83.6%)
477.0K
est: 6.92M (-93.1%)
4.91M
est: 1.74M (+182.5%)
13.56M
est: 5.18M (+161.8%)
29.64M
est: 17.71M (+67.4%)
60.75M
est: 57.67M (+5.3%)
78.22M
est: 40.92M (+91.1%)
78.72M
est: 53.16M (+48.1%)
107.91M
est: 52.01M (+107.5%)
121.28M
est: 124.98M (-3.0%)
116.38M
est: 132.79M (-12.4%)
110.00M
est: 147.17M (-25.3%)
166.74M
165.61M – 167.71M
+13.3% YoY
176.63M
167.61M – 186.83M
+5.9% YoY
188.43M
182.81M – 194.63M
+6.7% YoY
Net Income
-1.17M
est: 2.42M (-148.3%)
-7.47M
est: -700.6K (-966.2%)
-445.0K
est: -5.74M (+92.3%)
5.26M
est: -587.4K (+996.2%)
15.29M
est: 6.95M (+119.9%)
36.88M
est: 29.41M (+25.4%)
49.21M
est: 25.67M (+91.7%)
51.41M
est: 33.34M (+54.2%)
67.37M
est: 32.62M (+106.5%)
63.14M
est: 65.81M (-4.1%)
44.09M
est: 99.06M (-55.5%)
33.83M
est: 59.02M (-42.7%)
72.40M
50.49M – 81.43M
+22.7% YoY
83.80M
69.68M – 110.73M
+15.7% YoY
91.17M
87.46M – 94.88M
+8.8% YoY
SGA
33.46M
est: 23.90M (+40.0%)
26.30M
est: 20.06M (+31.1%)
27.22M
est: 20.22M (+34.6%)
25.30M
est: 35.93M (-29.6%)
38.84M
est: 33.41M (+16.3%)
36.93M
est: 71.39M (-48.3%)
24.10M
est: 25.71M (-6.2%)
35.37M
est: 33.39M (+5.9%)
29.86M
est: 32.67M (-8.6%)
56.84M
est: 52.25M (+8.8%)
55.95M
est: 55.51M (+0.8%)
50.33M
est: 61.52M (-18.2%)
69.70M
69.23M – 70.11M
+13.3% YoY
73.84M
70.07M – 78.10M
+5.9% YoY
78.77M
76.42M – 81.36M
+6.7% YoY
EPS
-0.03
est: 0.07 (-145.7%)
-0.23
est: -0.20 (-15.0%)
-0.01
est: 0.00 (-696.0%)
0.20
est: 0.16 (+22.4%)
0.49
est: 0.61 (-19.0%)
1.45
est: 1.61 (-10.1%)
1.75
est: 1.53 (+14.4%)
1.81
est: 1.72 (+5.3%)
2.46
est: 1.99 (+23.9%)
2.60
est: 2.04 (+27.7%)
1.65
est: 3.06 (-46.1%)
1.18
est: 1.83 (-35.4%)
2.19
1.56 – 2.52
+20.0% YoY
2.96
2.16 – 3.43
+35.2% YoY
2.82
2.71 – 2.94
-4.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-15 B- 3/5 2/5 3/5 3/5 1/5 2/5 4/5
2026-05-14 B- 3/5 2/5 3/5 3/5 1/5 2/5 4/5
2026-05-13 B- 3/5 2/5 3/5 3/5 1/5 2/5 4/5
2026-05-12 B- 3/5 2/5 3/5 3/5 1/5 2/5 4/5
2026-05-11 B- 3/5 2/5 3/5 3/5 1/5 2/5 4/5
2026-05-08 B 3/5 2/5 3/5 3/5 1/5 3/5 4/5
2026-05-07 B 3/5 2/5 3/5 3/5 1/5 3/5 4/5
2026-05-06 B 3/5 2/5 3/5 3/5 1/5 3/5 4/5
2026-05-05 B 3/5 2/5 3/5 3/5 1/5 3/5 4/5
2026-05-04 B 3/5 2/5 3/5 3/5 1/5 3/5 4/5
2026-05-01 B 3/5 2/5 3/5 4/5 1/5 3/5 4/5
2026-04-30 B 3/5 2/5 3/5 4/5 1/5 3/5 4/5
2026-04-29 B 3/5 3/5 3/5 4/5 1/5 2/5 4/5
2026-04-28 B 3/5 3/5 3/5 4/5 1/5 2/5 4/5
2026-04-27 B 3/5 3/5 3/5 4/5 1/5 2/5 4/5
2026-04-24 B 3/5 3/5 3/5 4/5 1/5 2/5 3/5
2026-04-23 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5
2026-04-22 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5
2026-04-21 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5
2026-04-20 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5
2026-04-17 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5
2026-04-16 B 3/5 3/5 3/5 5/5 1/5 2/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
57.48M
OE per share TTM
1.62
Owner's Yield
9.90%
Maintenance CapEx ratio
1,285.03%
Maint CapEx / Avg PPE
105.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 13 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ.TO 0.70% 6.20M 0.66%
2 iShares S&P/TSX SmallCap Index ETF XCS.TO 0.15% 260.0K 0.60%
3 Avantis International Small Cap Value ETF AVDV 0.04% 8.08M 0.36%
4 State Street SPDR S&P International Small Cap ETF GWX 0.03% 295.6K 0.40%
5 Avantis International Small Cap Equity ETF AVDS 0.01% 35.5K 0.30%
6 TD Canadian Equity Index ETF TTP.TO 0.01% 445.1K 0.05%
7 Avantis Global Small Cap Value UCITS ETF AVGS.L 0.01% 96.0K 0.39%
8 Dimensional - International Small Cap ETF DFIS 0.00% 136.5K 0.39%
9 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 273.3K 0.28%
10 Dimensional - International Small Cap Value ETF DISV 0.00% 100.7K 0.42%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
60.3K
Shares Outstanding
28.52M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Barry Wade Palmer President, Chief Executive Officer & Director 2M male
Andre Desbiens Managing Director of MacKellar Group 673.3K male
Thomas S. Arndell Vice President of Asset Management 658.4K male
Jason William Veenstra Chief Financial Officer 553.5K male
Jordan A. Slator Chief Legal Officer & Corporate Secretary 449.8K male
David Grant Kallay Chief People Officer 449.3K male
David Brunetta Director of Investor Relations and Director of Finance & Information Technology male
Craig Nauta Vice President of Operations male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits