Financials National Bank of Canada

Equities

NA

CA6330671034

Banks

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
111.9 CAD -0.12% Intraday chart for National Bank of Canada +1.64% +10.82%

Valuation

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 22,733 21,482 34,608 31,221 29,165 38,043 - -
Enterprise Value (EV) 1 22,733 21,482 34,608 31,221 29,165 38,043 38,043 38,043
P/E ratio 10.7 x 11.2 x 11.4 x 9.65 x 9.19 x 11.5 x 11.1 x 11.1 x
Yield 3.91% 4.44% 2.77% 3.86% 4.62% 3.86% 4.08% 4.25%
Capitalization / Revenue 2.97 x 2.61 x 3.8 x 3.14 x 2.74 x 3.39 x 3.25 x 3.02 x
EV / Revenue 2.97 x 2.61 x 3.8 x 3.14 x 2.74 x 3.39 x 3.25 x 3.02 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.84 x 1.6 x 2.14 x 1.68 x 1.42 x 1.72 x 1.59 x -
Nbr of stocks (in thousands) 334,217 335,968 337,773 336,580 338,258 339,883 - -
Reference price 2 68.02 63.94 102.5 92.76 86.22 111.9 111.9 111.9
Announcement Date 12/4/19 12/2/20 12/1/21 11/30/22 12/1/23 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: oktober 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,666 8,216 9,116 9,934 10,658 11,210 11,699 12,613
EBITDA - - - - - - - -
EBIT 1 3,131 3,382 4,074 4,704 5,018 5,184 5,516 -
Operating Margin 40.84% 41.16% 44.69% 47.35% 47.08% 46.25% 47.15% -
Earnings before Tax (EBT) 1 2,784 2,536 4,072 4,277 3,972 4,185 4,549 4,382
Net income 1 2,140 2,041 3,177 3,383 3,335 3,287 3,402 3,439
Net margin 27.92% 24.84% 34.85% 34.05% 31.29% 29.32% 29.08% 27.27%
EPS 2 6.340 5.700 8.960 9.610 9.380 9.720 10.04 10.08
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.660 2.840 2.840 3.580 3.980 4.321 4.562 4.760
Announcement Date 12/4/19 12/2/20 12/1/21 11/30/22 12/1/23 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Oktober 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,252 2,530 2,491 2,484 2,429 2,712 2,611 2,576 2,759 2,820 2,791 2,842 2,879 2,922 2,875
EBITDA - - - - - - - - - - - - - - -
EBIT 1 953 1,253 1,198 1,178 1,083 1,309 1,237 1,184 1,288 1,371 1,219 1,273 1,289 1,379 1,324
Operating Margin 42.32% 49.53% 48.09% 47.42% 44.59% 48.27% 47.38% 45.96% 46.68% 48.62% 43.68% 44.8% 44.77% 47.2% 46.05%
Earnings before Tax (EBT) 994 1,255 1,195 1,121 901 1,093 1,152 1,098 872 1,251 - - - - -
Net income 1 776 932 894 826 738 881 847 839 768 885 876 862 866 809 814
Net margin 34.46% 36.84% 35.89% 33.25% 30.38% 32.49% 32.44% 32.57% 27.84% 31.38% 31.39% 30.34% 30.08% 27.69% 28.31%
EPS 2 2.190 2.650 2.550 2.350 2.080 2.490 2.380 2.360 2.140 2.590 2.433 2.452 2.499 2.500 2.510
Dividend per Share 2 0.7100 0.8700 0.8700 0.9200 0.9200 0.9700 1.020 1.020 1.020 1.060 1.070 1.094 1.104 1.128 1.145
Announcement Date 12/1/21 2/25/22 5/27/22 8/24/22 11/30/22 3/1/23 5/31/23 8/30/23 12/1/23 2/28/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: Oktober 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 18% 14.9% 20.7% 18.8% 16.5% 15.4% 15.1% 13.3%
ROA (Net income/ Total Assets) 0.79% 0.71% 0.92% 0.89% 0.81% 0.81% 0.86% 0.7%
Assets 1 271,195 289,118 343,708 379,686 413,413 407,059 395,581 491,286
Book Value Per Share 2 36.90 40.00 48.00 55.20 60.70 64.90 70.40 -
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 12/4/19 12/2/20 12/1/21 11/30/22 12/1/23 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
13
Last Close Price
111.9 CAD
Average target price
112.5 CAD
Spread / Average Target
+0.47%
Consensus
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