Is NCSM or NOA more undervalued in 2026?

CirclFi compares NCS Multistage Holdings, Inc. (NCSM) and North American Construction Gro (NOA) using 13 institutional-grade valuation models. NCSM has a Quality of Company score of 8.4/10 while NOA scores 6.7/10.

Which is a better buy — NCSM or NOA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NCSM and NOA valuations compare?

NCSM at $42.38 and NOA at $13.83 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NCSM vs NOA Valuation Comparison 2026 — Intrinsic Value Analysis

NCSM

Oil & Gas Field Services, NEC

NCS Multistage Holdings, Inc.

Quality

8.4

out of 10

Value Trap

SAFE

Price

$42.38

Last close

Models

11/13

Active

NOA

Oil & Gas Field Services, NEC

North American Construction Gro

Quality

6.7

out of 10

Value Trap

—

Price

$13.83

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	NCSM Fair Value	NCSM Upside	NOA Fair Value	NOA Upside
Bayesian DCF	Intrinsic	$50.51	+19.2%	$18.80	+35.9%
Earnings Power Value	Intrinsic	$20.61	-51.4%	$1.75	-88.1%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NCSM vs NOA — Which Stock Is More Undervalued?

NCSM scores higher with a 8.4/10 quality rating vs NOA's 6.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing NCS Multistage Holdings, Inc. (NCSM) and North American Construction Gro (NOA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NCSM currently trades at $42.38 with a QOC of 8.4/10, while NOA trades at $13.83 with a QOC of 6.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).