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NOANorth American Construction Group Ltd.
$12.90$368M
Overview & Verdict
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NOA logoNorth American Construction Group Ltd.(NOA)Earnings, Financials & Key Ratios

NOA•NYSE
$12.90
16.1× P/E·Price updated Jul 6, 2026
SectorEnergyIndustryOilfield ServicesSub-IndustryDrilling and Well Construction
AboutNorth American Construction Group Ltd. provides equipment maintenance, and mining and heavy construction services in Canada, the United States, and Australia. The company's Heavy Construction & Mining division offers constructability reviews, budgetary cost estimates, design-build construction, project management, contract mining, pre-stripping/pit pioneering, overburden removal and stockpile, muskeg removal and stockpile, site preparation, air strip construction, site dewatering/perimeter ditching, tailings and process pipelines, haulage and access road construction, tailings dam construction and densification, mechanically stabilized earth walls, dyke construction, and reclamation services. Its Equipment Maintenance Services division provides fuel and lube servicing, portable steaming, equipment inspections, parts and component supply, major overhauls and equipment refurbishment, onsite haul truck brake testing, onsite maintenance support, under carriage rebuild, machining, hose manufacturing, and technical support services, as well as welding, fabrication/repairs, weld certification, and inspection services. As of December 31, 2021, the company operated a heavy equipment fleet of 632 units. It serves resource development and industrial construction sectors. The company was formerly known as North American Energy Partners Inc. and changed its name to North American Construction Group Ltd. in April 2018. North American Construction Group Ltd. was founded in 1953 and is headquartered in Acheson, Canada.Show more
  • Revenue$1.28B+10.2%
  • EBITDA$327M+2.3%
  • Net Income$34M-23.3%
  • EPS (Diluted)1.14-25.0%
  • Gross Margin12.64%-29.9%
  • EBITDA Margin25.48%-7.2%
  • Operating Margin8.57%-34.9%
  • Net Margin2.63%-30.3%
  • ROE8.01%-32.3%

NOA Price & Volume

North American Construction Group Ltd. (NOA) stock price & volume — 10-year historical chart

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Cyclical Margin Compression Strains Capital Intensive Operations

Investment Thesis • Updated 2026Q1

VerdictNegative: The company's inability to maintain consistent profitability
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Deteriorating
Primary Risk:High capital intensity

Key Thesis Takeaways

  • North American Construction Group faces significant headwinds as its project-based revenue model struggles with cyclical volatility, evidenced by a 6.1% year-over-year revenue decline in 2026Q1.
  • The company's heavy reliance on debt-funded asset expansion, reflected in a 2.02 debt-to-equity ratio, creates substantial operational risk during periods of margin contraction.
  • Investors should monitor the sustainability of the firm's cash flow, as high capital intensity—with CapEx/Revenue ratios frequently exceeding 20%—continues to pressure liquidity and limit strategic flexibility.

Verdict Logic

highlighted by a 1.7% net margin in 2026Q1 and erratic cash conversion, suggests that the current valuation does not adequately account for the underlying operational and balance sheet risks.

NOA Growth Metrics

North American Construction Group Ltd. (NOA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.4%
5 Years20.84%
3 Years18.62%
TTM4.44%

Profit CAGR

10 Years-
5 Years-7.22%
3 Years-20.51%
TTM-15.58%

EPS CAGR

10 Years-
5 Years-6.55%
3 Years-19.06%
TTM-15.16%

Return on Capital

10 Years8.15%
5 Years9.47%
3 Years9.74%
Last Year7.9%

NOA Recent Earnings

North American Construction Group Ltd. (NOA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/12 qtrs (17%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 13, 2026
Metric
Actual
Est
EPS
$0.14-55.2%
$0.32
Rev
$229M-4.8%
$241M
Q2 2026
Mar 11, 2026
Metric
Actual
Est
EPS
$0.10-120.0%
$0.50
Rev
$223M-3.0%
$229M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.49-2.0%
$0.50
Rev
$227M+2.3%
$222M
Q3 2025
Aug 13, 2025
Metric
Actual
Est
EPS
$0.01-98.3%
$0.59
Rev
$235M-1.5%
$239M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 13, 2026
$0.14vs $0.32-55.2%
$229Mvs $241M-4.8%
Q2 2026Mar 11, 2026
$0.10vs $0.50-120.0%
$223Mvs $229M-3.0%
Q4 2025Nov 12, 2025
$0.49vs $0.50-2.0%
$227Mvs $222M+2.3%
Q3 2025Aug 13, 2025
$0.01vs $0.59-98.3%
$235Mvs $239M-1.5%
Based on last 12 quarters of dataView full earnings history →

Latest NOA News

Recent stock market news and headlines for North American Construction Group Ltd. (NOA)

Accesswire·Jun 22, 2026
NOA Lithium Signs Term Sheet for Option and Joint Venture with Summit Explore for Arizaro Project

BUENOS AIRES, AR / ACCESS Newswire / June 22, 2026 / NOA Lithium Brines Inc. (TSXV:NOAL)(FRANKFURT:N7N) ("NOA" or the "Company") is pleased to announce that the Company and Summit Explore Corporation ("Summit Explore"), an arm's length party and subsidiary of Summit Lithium Technologies ("Summit"), have entered into an indicative non-binding term sheet (the "Agreement") for an option and joint venture arrangement with Summit Explore covering NOA's Arizaro lithium brine property (the "Project") in Salta province, Argentina. Pursuant to the Agreement and as further set out below, Summit Explore can earn an undivided 60% interest in the Project by completing technical studies and making a defined cash and equity investment in NOA, with NOA retaining the remaining 40% in the Project.

Globe News Wire·Jun 16, 2026
North American Construction Group Ltd. Announces Closing of Private Placement Offering of $200 Million Senior Unsecured Notes

ACHESON, Alberta, June 16, 2026 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. ("NACG") (TSX: NOA / NYSE: NOA) announced today that it has successfully closed its previously announced private placement offering (the "Offering") of $200 million aggregate principal amount of 7.

GlobeNewsWire·Jun 16, 2026
North American Construction Group Ltd. Announces Closing of Private Placement Offering of $200 Million Senior Unsecured Notes

ACHESON, Alberta, June 16, 2026 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG”) (TSX: NOA / NYSE: NOA) announced today that it has successfully closed its previously announced private placement offering (the “Offering”) of $200 million aggregate principal amount of 7.00% Senior Unsecured Notes due June 16, 2031 (the “Notes”).

Accesswire·Jun 16, 2026
NOA Lithium Announces Strategic Arrangement with Hatch

BUENOS AIRES, AR / ACCESS Newswire / June 16, 2026 / NOA Lithium Brines Inc. (TSXV:NOAL)(Frankfurt:N7N) ("NOA" or the "Company") is pleased to announce that Hatch Ltd. ("Hatch") and the Company have agreed to make a strategic arrangement ("Arrangement") in connection with the Company's recently announced Pre-PFS Process Development Study for NOA's flagship Rio Grande project in Salta Province, Argentina (the "Study").

Peers Comparison

Key metrics vs top competitors for North American Construction Group Ltd. (NOA)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NOA logoNOANorth American Construction Group Ltd.Current
$12.90$367.87M16.1010.17%2.63%8.01%2.26%
ROAD logoROADConstruction Partners, Inc.
$108.09$6.11B58.7454.2%3.9%13.68%—
PRIM logoPRIMPrimoris Services Corporation
$90.20$4.89B17.9718.97%3.31%15.21%—
MYRG logoMYRGMYR Group Inc.
$442.72$6.89B58.798.79%3.71%22.14%—
STRL logoSTRLSterling Infrastructure, Inc.
$776.55$23.83B82.7917.69%12.02%32.26%—
GLDD logoGLDDGreat Lakes Dredge & Dock Corporation
$17.00$1.14B15.7416.47%8.27%14.83%—

Compare NOA vs Peers

North American Construction Group Ltd. (NOA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ROAD

Most directly comparable listed peer for NOA.

Scale Benchmark

vs CAT

Larger-name benchmark to compare NOA against a more recognizable public peer.

Peer Set

Compare Top 5

vs ROAD, PRIM, MYRG, STRL

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NOA Frequently Asked Questions

North American Construction Group Ltd. (NOA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is North American Construction Group Ltd.'s revenue?

North American Construction Group Ltd. (NOA) reported $1.26B in revenue for fiscal year 2025. This represents a 597% increase from $181.2M in 1999.

How fast is North American Construction Group Ltd. growing?

North American Construction Group Ltd. (NOA) grew revenue by 10.2% over the past year. This is steady growth.

Is NOA profitable?

Yes, North American Construction Group Ltd. (NOA) is profitable, generating $33.2M in net income for fiscal year 2025 (2.6% net margin).

Dividend & Returns
Does NOA pay dividends?

Yes, North American Construction Group Ltd. (NOA) pays a dividend with a yield of 2.26%. This makes it attractive for income-focused investors.

What is NOA's return on equity?

North American Construction Group Ltd. (NOA) has a return on equity (ROE) of 8.0%. This is below average, suggesting room for improvement.

What is North American Construction Group Ltd.'s free cash flow?

North American Construction Group Ltd. (NOA) generated $1.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in NOA back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →