North American Construction Group Ltd.
NOA · Oil & Gas Field Services, NEC · EDGAR filings ↗
Grade
C67Oilsands-focused heavy construction/mining-services firm with strong operating cash conversion but thin liquidity.
Strengths
- Top-decile revenue growth 10% (89th pct) and OCF margin 20.6% (90th pct); operating margin 8.5% (78th pct)
- Positive returns with ROE 7.4% (61st pct)
Risks
- Weak liquidity: current ratio 0.88 and quick ratio 0.70 (both 14th pct)
- Negative free cash flow and net income growth -23%; ROE only mid-pack and capital-intensive/cyclical end market
Notable findings
- Cash burnNegative free cash flow (-12.4M)
- Weak liquidityCurrent ratio 0.88 (<1)
Key metrics
Gross margin
12.6%
Operating margin
8.5%
Net margin
2.6%
Return on equity
7.4%
Return on assets
1.9%
Revenue growth (QoQ)
15.7%
Net-income growth
-19.2%
Current ratio
0.9×
Free cash flow
-$12M
Tangible book value
$324M
Cash & investments
$73M
Cash runway
24q
Stock comp / revenue
-0.0%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-12 | 2025-12-31 | 0001368519-26-000005 ↗ |
| 40-F | 2025-03-20 | 2024-12-31 | 0001368519-25-000007 ↗ |
| 40-F | 2024-03-13 | 2023-12-31 | 0001368519-24-000005 ↗ |
| 40-F | 2023-02-15 | 2022-12-31 | 0001368519-23-000006 ↗ |
| 40-F | 2022-02-16 | 2021-12-31 | 0001368519-22-000003 ↗ |
| 40-F | 2021-02-17 | 2020-12-31 | 0001368519-21-000010 ↗ |
| 40-F | 2020-02-19 | 2019-12-31 | 0001368519-20-000004 ↗ |
| 40-F | 2019-02-25 | 2018-12-31 | 0001368519-19-000003 ↗ |
| 40-F | 2018-02-13 | 2017-12-31 | 0001368519-18-000004 ↗ |
| 40-F | 2017-02-14 | 2016-12-31 | 0001368519-17-000007 ↗ |
| 20-F | 2016-02-16 | 2015-12-31 | 0001368519-16-000024 ↗ |
| 40-F | 2015-02-17 | 2014-12-31 | 0001368519-15-000004 ↗ |