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NOA on NYSE

North American Construction Group Ltd.

North American Construction Group Ltd. is a Canadian oil and gas field services company based in Edmonton.2 Its shares trade on NYSE under the symbol NOA.2

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Last updated Oct 21, 2026.

Overview

1.3BRevenue, fiscal 20253
33.8MNet income, fiscal 20253

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  • TickerNOA on NYSE2
  • IndustryOil & Gas Field Services, NEC2
  • HeadquartersEdmonton, Canada2
  • Incorporated inAlberta, Canada4
  • Business address27287 100 Avenue, Acheson4
  • Filer categoryNon-accelerated filer4
  • Legal formbusiness corporation2
  • LEI549300DQ6060LO4XGI152
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address2700, 10155 - 102 Street, T5J 4G8 Edmonton, Canada2
  • Registered withCorporations Canada, 1260856-12

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CAD, the currency the company reports in.

Key numbers, fiscal 2025

12.6%Gross margin3
8.5%Operating margin3
2.6%Net margin3
10.2%Revenue growth, 20253
7.4%Return on equity3
-17.0M CADFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Operations Support Services brought in 90% of the revenue North American Construction Group Ltd. broke down this way in fiscal 2025.

  1. Operations Support Services1.2B CAD390%up 4% from 2024
  2. Construction88.6M CAD37%up 2321% from 2024
  3. Equipment And Component Sales33.0M CAD33%down 18% from 2024
  4. Variable Consideration - Unapproved Contract Modifications3.2M CAD30%
Products and services by year
Products and services20242025
Operations Support Services1.1B CAD1.2B CAD
Construction3.7M CAD88.6M CAD
Equipment And Component Sales40.3M CAD33.0M CAD
Variable Consideration - Unapproved Contract Modifications0 CAD3.2M CAD

Business segments

Heavy Equipment, Australia brought in 54% of the revenue North American Construction Group Ltd. broke down this way in fiscal 2025.

  1. Heavy Equipment, Australia689.9M CAD354%up 17% from 2024
  2. Heavy Equipment, Canada579.1M CAD345%up 4% from 2024
  3. Other Operating14.8M CAD31%down 24% from 2024
Business segments by year
Business segments20242025
Heavy Equipment, Australia590.9M CAD689.9M CAD
Heavy Equipment, Canada555.3M CAD579.1M CAD
Other Operating19.5M CAD14.8M CAD

Regions

AUMember brought in 54% of the revenue North American Construction Group Ltd. broke down this way in fiscal 2025.

  1. AUMember690.0M CAD354%up 17% from 2024
  2. CA [member]588.9M CAD346%up 4% from 2024
  3. United States5.4M CAD30%down 34% from 2024
Regions by year
Regions20242025
AUMember590.9M CAD690.0M CAD
CA [member]566.7M CAD588.9M CAD
United States8.2M CAD5.4M CAD

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs96¢1.2B CAD
  • Income tax2¢22.6M CAD
  • Profit3¢33.8M CAD

Out of 1.3B CAD in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending84¢281.1M CAD
  • Dividends paid4¢13.4M CAD
  • Share buybacks12¢38.4M CAD

Out of 264.1M CAD of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue567891031.3B CAD in 2025+213% since 2018
0500.0M CAD1.0B CAD1.5B CAD2018: 410.1M CAD410.1M CAD20182019: 719.1M CAD719.1M CAD2019+75%2020: 498.5M CAD498.5M CAD2020−31%2021: 654.1M CAD654.1M CAD2021+31%2022: 769.5M CAD769.5M CAD2022+18%2023: 964.7M CAD964.7M CAD2023+25%2024: 1.2B CAD1.2B CAD2024+21%2025: 1.3B CAD1.3B CAD2025+10%
Gross profit56789103162.3M CAD in 2025+135% since 2018
0100.0M CAD200.0M CAD300.0M CAD2018: 69.1M CAD69.1M CAD20182019: 96.4M CAD96.4M CAD2019+40%2020: 92.2M CAD92.2M CAD2020−4%2021: 90.4M CAD90.4M CAD2021−2%2022: 101.5M CAD101.5M CAD2022+12%2023: 154.8M CAD154.8M CAD2023+52%2024: 210.0M CAD210.0M CAD2024+36%2025: 162.3M CAD162.3M CAD2025−23%
Operating income56789103109.2M CAD in 2025+264% since 2018
050.0M CAD100.0M CAD150.0M CAD200.0M CAD2018: 30.0M CAD30.0M CAD20182019: 58.8M CAD58.8M CAD2019+96%2020: 67.1M CAD67.1M CAD2020+14%2021: 55.1M CAD55.1M CAD2021−18%2022: 71.2M CAD71.2M CAD2022+29%2023: 96.3M CAD96.3M CAD2023+35%2024: 153.3M CAD153.3M CAD2024+59%2025: 109.2M CAD109.2M CAD2025−29%
Net income5678910333.8M CAD in 2025+121% since 2018
020.0M CAD40.0M CAD60.0M CAD80.0M CAD2018: 15.3M CAD15.3M CAD20182019: 36.9M CAD36.9M CAD2019+141%2020: 49.2M CAD49.2M CAD2020+33%2021: 51.4M CAD51.4M CAD2021+4%2022: 67.4M CAD67.4M CAD2022+31%2023: 63.1M CAD63.1M CAD2023−6%2024: 44.0M CAD44.0M CAD2024−30%2025: 33.8M CAD33.8M CAD2025−23%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-12-312024-12-31
Revenue1.3B CAD1.2B CAD
Cost of sales904.8M CAD770.8M CAD
Depreciation217.2M CAD185.0M CAD
Gross profit162.3M CAD210.0M CAD
General and administrative expenses50.3M CAD54.6M CAD
Amortization of intangible assets2.0M CAD1.4M CAD
Loss on disposal of property, plant and equipment822.0K CAD767.0K CAD
Operating income109.2M CAD153.3M CAD
Interest expense, net58.9M CAD59.3M CAD
Equity loss (earnings) in affiliates and joint ventures11.3M CAD-15.3M CAD
Change in fair value of contingent obligations-26.9M CAD53.2M CAD
Loss (gain) on derivative financial instruments9.4M CAD-4.0M CAD
Income before income taxes56.5M CAD60.0M CAD
Current income tax expense (benefit)8.0M CAD-3.3M CAD
Deferred income tax expense14.7M CAD19.2M CAD
Net income33.8M CAD44.0M CAD
Unrealized foreign currency translation (gain) loss-10.5M CAD695.0K CAD
Comprehensive income44.3M CAD43.3M CAD
Basic net income per share (in CAD per share)1.18 CAD1.64 CAD
Diluted net income per share (in CAD per share)1.14 CAD1.51 CAD

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Corporate structure

North American Construction Group Ltd. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of North American Construction Group Ltd.

  • Bank of Montreal Filed SCHEDULE 13G/A on North American Construction Group Ltd., latest Aug 12, 2026 (5 filings since Nov 13, 2024)
  • CIBC Asset Management Inc Filed SCHEDULE 13G/A on North American Construction Group Ltd., latest Aug 3, 2026 (2 filings since May 12, 2026)
  • Mawer Investment Management Ltd. Filed SCHEDULE 13G/A on North American Construction Group Ltd., latest May 12, 2026 (8 filings since Feb 10, 2022)
  • Polar Asset Management Partners Inc. Filed SCHEDULE 13G/A on North American Construction Group Ltd., latest Feb 17, 2026 (5 filings since Feb 10, 2022)
  • CANNELL CAPITAL LLC Filed SCHEDULE 13G on North American Construction Group Ltd., latest Aug 14, 2025 (6 filings since Feb 14, 2022)
  • Claret Asset Management Corp Filed SCHEDULE 13G/A on North American Construction Group Ltd., latest Feb 4, 2025 (4 filings since Jan 20, 2022)
  • North American Construction Group Ltd. Edmonton, Alberta, Canada
    • Mikisew North American Limited Partnership Subsidiary · Edmonton, Alberta, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What North American Construction Group Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation1.8B CAD3 Dec 31, 20251.7B CAD3 Dec 31, 2024+9.5%
Accumulated depreciation549.2M CAD3 Dec 31, 2025474.1M CAD3 Dec 31, 2024+15.9%
Property and equipment, net1.3B CAD3 Dec 31, 20251.2B CAD3 Dec 31, 2024+6.9%
Finance-lease assets93.6M CAD3 Dec 31, 202568.2M CAD3 Dec 31, 2024+37.3%
Operating-lease assets (leased space)10.7M CAD3 Dec 31, 202512.7M CAD3 Dec 31, 2024−15.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents100.1M CAD3 Dec 31, 202577.9M CAD3 Dec 31, 2024+28.6%
Stakes in other companies (equity method)70.4M CAD3 Dec 31, 202584.7M CAD3 Dec 31, 2024−16.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill535.0K CAD3 Dec 31, 2025520.0K CAD3 Dec 31, 2024+2.9%
Intangible assets, net (excluding goodwill)12.3M CAD3 Dec 31, 20259.9M CAD3 Dec 31, 2024+24.6%

Inventory

ItemLatestA year beforeChange
Inventory, total75.7M CAD3 Dec 31, 202569.0M CAD3 Dec 31, 2024+9.6%

Former names

  • North American Energy Partners Inc.Aug 18, 2006 to Apr 12, 20184
  • NACG Holdings Inc.Jul 21, 2006 to Nov 22, 20064

Timeline

  1. Nov 28, 2006Founded North American Construction Group Ltd. is founded2

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.49 a share, on Nov 12, 2025.11

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

136 filings to the SEC since October 2021: 6 annual reports, 30 large holders, 100 other. The latest 20:

  1. Sep 11, 20266-K EDGAR
  2. Aug 12, 20266-K EDGAR
  3. Aug 12, 2026SCHEDULE 13G/A EDGAR
  4. Aug 3, 2026SCHEDULE 13G/A EDGAR
  5. Jul 21, 20266-K EDGAR
  6. Jul 21, 20266-K EDGAR
  7. Jul 8, 20266-K EDGAR
  8. Jun 16, 20266-K EDGAR
  9. Jun 10, 20266-K EDGAR
  10. May 21, 20266-K EDGAR
  11. May 13, 20266-K EDGAR
  12. May 12, 2026SCHEDULE 13G EDGAR
  13. May 12, 2026SCHEDULE 13G/A EDGAR
  14. Apr 27, 20266-K EDGAR
  15. Apr 23, 20266-K EDGAR
  16. Apr 21, 20266-K EDGAR
  17. Apr 7, 20266-K EDGAR
  18. Mar 19, 20266-K REPORT OF FOREIGN PRIVATE ISSUER FOR THE MONTH OF MARCH 2026 EDGAR
  19. Mar 19, 20266-K EDGAR
  20. Mar 12, 20266-K EDGAR

The 136 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 69. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bank Of Montreal /can/1,420,790$18.9M0.0%−1,470,906
National Bank Of Canada /fi/1,396,384$18.6M0.0%+44,419
CIBC Asset Management Inc1,354,606$18.2M0.0%−107,262
Aegis Financial Corp1,038,177$13.8M2.2%No change
Cannell Capital LLC783,691$10.4M7.3%−179,040
Morgan Stanley766,612$10.2M0.0%+574,673
Arrowstreet Capital, Limited Partnership672,043$8.9M0.0%+269,630
American Century Companies Inc635,087$8.4M0.0%+43,178
Connor, Clark & Lunn Investment Management Ltd.604,396$8.0M0.0%+16,956
Goldman Sachs Group Inc442,851$5.9M0.0%+190,512
Two Sigma Investments, LP411,820$5.5M0.0%+98,947
Simcoe Capital LLC393,867$5.2M3.2%+232,337
D. E. Shaw & Co., Inc.382,900$5.1M0.0%+111,300
TD Waterhouse Canada Inc.329,224$4.3M0.0%+3,737
Dimensional Fund Advisors LP269,536$3.6M0.0%+69,288
Renaissance Technologies LLC247,000$3.3M0.0%−6,500
Intact Investment Management Inc.244,300$3.2M0.1%+36,300
Clearbridge Investments, LLC244,091$3.2M0.0%−2,133
Quadrature Capital Ltd236,300$3.1M0.0%+101,156
Bastion Asset Management Inc.213,316$3.1M1.1%−187,760
Bank Of America Corp /de/228,973$3.0M0.0%+134,052
Orchard Capital Management, LLC226,537$3.0M3.3%+2,624
CenterBook Partners LP193,653$2.6M0.1%+138,736
Intrinsic Edge Capital Management LLC190,100$2.5M0.3%+20,000
Citadel Advisors LLC169,549$2.3M0.0%+47,808

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How North American Construction Group Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNorth American Construction Group Ltd.1
  • CIK0001368519
  • Filer statusNon-accelerated filer not an emerging growth company1
  • Incorporated inCanada18
  • Fiscal year endsDecember 311
  • Industry code (SIC)1389 Oil & Gas Field Services, NEC1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address27287 100 Avenue, Acheson, Alberta, Canada1
  • Phone780-960-71711
  • Shares outstanding28,821,481 shares as of Dec 31, 202518
  • AuditorKPMG LLP, Edmonton, AB, Canada PCAOB ID 85; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceJul 21, 20061
  • Filings650 in all: 6-K (444), SC 13G/A (57), 4 (22), 40-F (18), SC 13G (17), SC 13D/A (16), F-1/A (11), SCHEDULE 13G/A (10)1
    All 29 form types

    CORRESP (9), UPLOAD (7), 6-K/A (4), FWP (4), SC 13D (4), SCHEDULE 13G (4), F-X (3), 20-F (2), 4/A (2), 424B1 (2), 8-A12B (2), EFFECT (2), F-1 (2), 20-F/A (1), 3 (1), 3/A (1), 40-F/A (1), CERTNYS (1), F-10 (1), F-10/A (1), S-8 (1)

  • Latest filingsAnnual report (40-F) Mar 12, 2026

Securities registered for trading

ClassSymbolExchange
Common SharesNOAThe New York Stock Exchange

From the cover page of the 40-F filed Mar 12, 2026 (Section 12(b) of the Exchange Act).18

Sources

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