ES
MARKETS / NYSE / NOA
NYSE · OIL & GAS FIELD SERVICES, NEC · SMALL CAP

North American Construction Group Ltd. NOA

17 fiscal years on record · CAD · FY2025 reported
SEC FILINGS ONLY4 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
CAD 1.3B
▲ 10.2% vs FY2024
Dividend streak
4 yrs
Raised every year since 2022
EPS · FY25
CAD 1.14
Dividend / sh · FY25
CAD 0.48
Payout · FY25
40%
ROE · FY25
8.0%
Net margin · FY25
2.6%
Dividend coverage
2.4×
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Result
CAD 1.3B
Revenue, FY2025 · full 17-year series below
Revenue Net income
0.40.81.21.61.30.02009201220152018202120242025
0.40.81.21.61.30.02016201920222025

3 cents of every revenue dollar became profit this year.

Per share
CAD 1.14
Diluted EPS, FY2025
EPS Dividend
0.81.62.40.481.142009201220152018202120242025
0.81.62.40.481.142016201920222025

Earnings covered the dividend 2.4 times — the rest stayed in the company.

Profitability
8.0%
Return on equity, FY2025
ROE
2040608.0%2009201220152018202120242025
2040608.0%2016201920222025
Operating margin8.5%
Net margin2.6%
Return on assets1.9%

Each CAD of equity produced 8 cents of profit this year.

Returned to shareholders
CAD 51.8M
returned in FY2025 · dividends + net buybacks
Dividends paidCAD 13.4M
Net buybacksCAD 38.4M
Share of profit153.2%
Consecutive raises4 years

CAD 13.4M in dividends and CAD 38.4M in buybacks — 153% of the year's profit, so the payout drew on cash built up earlier.

Growth
+20.8% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+18.6%
+20.8%
+16.4%
+4.5%
Net income
−20.5%
−7.2%
EPS, diluted
−19.1%
−6.6%
Dividend / share
+14.5%
+24.6%
Returned to shareholders
+7.3%
+32.0%
+18.6%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.03B
Shares outstanding, FY2025
0.040.032009201220152018202120242025
0.030.032016201920222025
Change, 5 years−7.1%
Change, 10 years−13.1%

The share count shrank 7% in five years — the same company, cut into fewer, larger slices.

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Balance sheet
CAD 1.8B
total assets, end of FY2025
Total assetsCAD 1.8B
EquityCAD 456.6M
CashCAD 100.1M
Gross debtCAD 749.8M
Net debtCAD 649.7M
Current ratio0.88×

Net debt stands at 142% of equity.

History
17 fiscal years
Every figure from documents filed with the SEC · CAD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue CAD B
1.3
1.2
1.0
0.8
0.7
0.5
0.7
0.4
0.3
0.2
0.3
0.5
0.5
0.6
0.7
0.7
0.8
Operating income CAD B
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
−0.0
0.1
EBITDA CAD B
0.3
0.3
0.2
0.2
·
·
·
·
·
·
·
·
·
·
·
·
·
Income tax CAD B
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
−0.0
−0.0
·
·
·
Net income CAD B
0.0
0.0
0.1
0.1
0.1
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
0.1
−0.0
−0.0
−0.0
0.0
EPS, diluted CAD
1.14
1.51
2.09
2.15
1.64
1.60
1.23
0.54
0.18
−0.01
−0.23
−0.03
1.89
−0.38
−0.58
−0.96
0.77
Dividend / sh CAD
0.48
0.42
0.40
0.32
0.16
0.16
0.12
0.08
0.08
0.08
·
0.08
0.00
·
·
·
·
Payout %
40
24
16
12
9
9
7
13
42
−408
−44
−180
0
·
·
·
·
ROE %
8.0
11.8
19.1
23.1
19.5
23.0
22.4
10.3
3.5
−0.3
−4.1
−0.6
42.7
−10.5
−15.4
−21.1
15.6
Shares out B
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.03
0.04
0.04
0.04
0.04

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
48 of 48
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed