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North American Construction Group Ltd.

NOAEnergyNASDAQ

Oil & Gas Equipment & Services

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Financials · Annual
Revenue
$1.28B
+10.2% YoY
Net Income
$33.8M
-23.1% YoY
EBITDA
$329.9M
+9.5% YoY
Free Cash Flow
$27.5M

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About North American Construction Group Ltd.

Operating under the Oil & Gas Equipment & Services umbrella, North American Construction Group Ltd. is a energy company. North American Construction Group Ltd. With a market capitalization of $374.8M, it sits in small-cap territory. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States.

Key stats
Market Cap$374.8M
P/E (TTM)17.07
Fwd P/E6.35
EPS$0.81
52W Change-19.3%
Dividend Yield2.53%
ROE7.1%
Analysis

On the balance sheet, NOA has $121.1M in cash with $959.7M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow comes in at $27.5M, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. Return on equity stands at 7.1%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 3.5% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $769.5M (2022) to $1.28B (2025), reflecting a 67% increase over the period.

The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing NOA.

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