NA Stock Analysis: National Bank of Canada | TO
Banks - Diversified | TO, Canada | Market Cap: 78.466m CAD | 12M Return: 39% | CA6330671034 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 281M
EPS Trend: 97.9%
Qual. Beats: 1
Rev. Trend: 95.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
National Bank of Canada is a Montreal-based diversified bank serving individuals, businesses, institutions, and governments in Canada and internationally. Its four segments cover personal and commercial banking, wealth management, financial markets, and U.S. specialty finance and international banking, including personal and commercial banking in Cambodia.
Like other diversified banks, it combines lending and banking services with fee-generating activities such as investment solutions, trust services, and corporate and investment banking.
- Rate cuts pressure net interest margins amid deposit competition
- Canadian Western Bank integration expands lending but raises execution costs
- Financial Markets revenue swings with trading activity and dealmaking
| Net Income: 4.85b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.34 > 1.0 |
| NWC/Revenue: -78.43% < 20% (prev -2.34k%; Δ 2.26k% < -1%) |
| CFO/TA 0.01 > 3% & CFO 6.41b > Net Income 4.85b |
| Net Debt (55.7b) to EBITDA (7.06b): 7.89 < 3 |
| Current Ratio: 0.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (390.0m) vs 12m ago -1.49% < -2% |
| Gross Margin: 44.76% > 18% (prev -5.62%; Δ 50.38% > 0.5%) |
| Asset Turnover: 5.48% > 50% (prev 3.02%; Δ 2.46% > 0%) |
| Interest Coverage Ratio: 0.37 > 6 (EBIT TTM 6.33b / Interest Expense TTM 17.1b) |
| A: -0.04 (Total Current Assets 49.6b - Total Current Liabilities 75.1b) / Total Assets 635b |
| B: 0.03 (Retained Earnings 21.1b / Total Assets 635b) |
| C: 0.01 (EBIT TTM 6.33b / Avg Total Assets 594b) |
| D: 0.06 (Book Value of Equity 34.7b / Total Liabilities 600b) |
| Altman-Z'' = -0.02 = B |
| DSRI: 0.14 (Receivables 1.83b/6.78b, Revenue 32.5b/16.7b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.99 (AQ_t 0.92 / AQ_t-1 0.92) |
| SGI: 1.95 (Revenue 32.5b / 16.7b) |
| TATA: -0.00 (NI 4.85b - CFO 6.41b) / TA 635b) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of November 03, 2026, the stock is trading at CAD 214.21 with a total of 1,280,946 shares traded. Over the past week, the price has changed by +3.33%, over one month by +5.78%, over three months by -4.67% and over the past year by +39.01%.
Current recommended Stop Loss: 205.10 (which is 4.3% or 2.4 ATR below the current price).
National Bank of Canada has no consensus analysts rating.
P/E Trailing = 17.1371
P/E Forward = 15.8479
P/S = 5.3803
P/B = 2.7317
P/EG = 1.3118
Revenue TTM = 32.5b CAD
EBIT TTM = 6.33b CAD
EBITDA TTM = 7.06b CAD
Long Term Debt = 49.9b CAD (from longTermDebt, last quarter)
Short Term Debt = 75.1b CAD (from shortTermDebt, last quarter)
Debt = 103b CAD (from shortLongTermDebtTotal, last quarter) + Leases 783.0m
Net Debt = 55.7b CAD (calculated: Debt 103b - CCE 47.8b)
Enterprise Value = 134b CAD (78.5b + Debt 103b - CCE 47.8b)
Interest Coverage Ratio = 0.37 (Ebit TTM 6.33b / Interest Expense TTM 17.1b)
EV/FCF = 22.02x (Enterprise Value 134b / FCF TTM 6.09b)
FCF Yield = 4.54% (FCF TTM 6.09b / Enterprise Value 134b)
FCF Margin = 18.73% (FCF TTM 6.09b / Revenue TTM 32.5b)
Net Margin = 14.92% (Net Income TTM 4.85b / Revenue TTM 32.5b)
Gross Margin = 44.76% ((Revenue TTM 32.5b - Cost of Revenue TTM 18.0b) / Revenue TTM)
Gross Margin QoQ = 44.99% (prev 45.42%)
Tobins Q-Ratio = 0.21 (Enterprise Value 134b / Total Assets 635b)
Interest Expense / Debt = 16.49% (Interest Expense 17.1b / Debt 103b)
Taxrate = 23.39% (1.48b / 6.33b)
NOPAT = 4.85b (EBIT 6.33b * (1 - 23.39%))
Current Ratio = 0.66 (Total Current Assets 49.6b / Total Current Liabilities 75.1b)
Debt / Equity = 2.98 (Debt 103b / totalStockholderEquity, last quarter 34.7b)
Debt / EBITDA = 7.89 (Net Debt 55.7b / EBITDA 7.06b)
Debt / FCF = 9.14 (Net Debt 55.7b / FCF TTM 6.09b)
Total Stockholder Equity = 33.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.82% (Net Income 4.85b / Total Assets 635b)
RoE = 14.36% (Net Income TTM 4.85b / Total Stockholder Equity 33.8b)
RoCE = 7.57% (EBIT 6.33b / Capital Employed (Equity 33.8b + L.T.Debt 49.9b))
RoIC = 0.77% (NOPAT 4.85b / Invested Capital 634b)
WACC = 10.22% (E(78.5b)/V(182b) * Re(7.04%) + D(103b)/V(182b) * Rd(16.49%) * (1-Tc(0.23)))
Discount Rate = 7.04% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.05 | Cagr: 5.91%
[DCF] Terminal Value 72.16% ; FCFF base≈5.02b ; Y1≈5.75b ; Y5≈8.47b
[DCF] Fair Price = 104.6 (EV 95.7b - Net Debt 55.7b = Equity 40.0b / Shares 382.8m; r=10.22% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.85 | EPS CAGR: 9.60% | SUE: 1.13 | # QB: 1
Revenue Correlation: 95.05 | Revenue CAGR: 59.99% | SUE: 0.78 | # QB: 0
EPS current Quarter (2027-01-31): EPS=3.54 | Chg30d=+2.60% | Revisions=+29% | Analysts=6
EPS current Year (2026-10-31): EPS=13.09 | Chg30d=+0.11% | Revisions=+67% | GrowthEPS=+16.1% | GrowthRev=+12.8%
EPS next Year (2027-10-31): EPS=14.38 | Chg30d=+0.43% | Revisions=+53% | GrowthEPS=+9.8% | GrowthRev=+5.1%
[Analyst] Revisions Ratio: +65% (up=24, down=4)