Norse Atlantic ASA vs Delta Air Lines: Fair Value & Quality
Both stocks run through our valuation models. Here is how Norse Atlantic ASA (NORSE) and Delta Air Lines (DAL) compare, as of Aug 30, 2026.
As of Aug 30, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: Norse Atlantic ASA trades at NOK 0.33 versus a fair value of NOK 0.20 (-40%), while Delta Air Lines trades at $80.07 versus $96.56 (+21%).
Norse Atlantic ASA
NORSE.OL · NOK · Industrials
-40%
upside to fair value
overvalued
PriceNOK 0.33
Fair ValueNOK 0.20
Quality41/100
Delta Air Lines
DAL · USD · Industrials
+21%
upside to fair value
undervalued
Price$80.07
Fair Value$96.56
Quality48/100
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Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Norse Atlantic ASADelta Air Lines
Valuation
—P/E (TTM)14.4×
0.18×P/S (TTM)0.81×
—P/B2.67×
—EV/EBITDA8.5×
—PEG39.29×
—Dividend yield0.9%
—Dividend per share$0.78
Profitability
-9%Net margin6%
-8%Operating margin8%
—Return on equity20%
-2%Return on assets4%
Growth
28%Revenue growth (YoY)19%
91.7%Avg. growth/yr (3Y)7.8%
—Avg. growth/yr (5Y)30.0%
Balance & size
—Debt / equity0.60×
$139MMarket cap$55B
mixedGrowth qualityhealthy
Even match: 3 to 3 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Norse Atlantic ASAof which business quality 41 · market factors 15Delta Air Linesof which business quality 48 · market factors 59
ProfitabilityMargins and returns on capital today
29
52
Quality GrowthAre margins and returns improving?
100
36
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
99
51
Low VolatilityCalm price path (market factor)
50
43
MomentumPrice trend over the last 3–12 months (market factor)
1
64
52W MomentumDistance to the 52-week high (market factor)
0
68
Net IssuanceBuybacks instead of dilution
0
74
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Norse Atlantic ASA
DCF ModelsNOK 0.34
MultiplesNOK 0.23
Growth DCFNOK 0.37
3 of 9 models see the stock below the current price.
Delta Air Lines
DCF Models$117
Earnings-Based$60.01
Dividend Discount$11.58
Multiples$134
Asset-Based$21.14
Growth DCF$99.27
Economic Profit$77.60
Growth Earnings$144
9 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Norse Atlantic ASA
Bear NOK 0.14Fair Value NOK 0.20Bull NOK 0.25
NOK 0.33 = current price (white tick)
Delta Air Lines
Bear $54.89Fair Value $96.56Bull $136
$80.07 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Norse Atlantic ASA · Industrials
Quality score41 · bottom 25%
Fair value upside-40% · below median
Delta Air Lines · Industrials
Quality score48 · below median
Fair value upside+21% · above median
Bottom line
As of Aug 30, 2026, Fair Value Calculator sees Delta Air Lines as the more attractively valued of the two: Norse Atlantic ASA trades at NOK 0.33 versus a fair value of NOK 0.20 (-40%), while Delta Air Lines trades at $80.07 versus $96.56 (+21%).
Delta Air Lines has the higher quality score (48/100).
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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.
