Obermatt

National Australia Bank

ASX:NAB · AU000000NAB4
BanksMedium

360

4
Profit price6
Cash yield77
Price/Sales33
EV / Gross Profit20
Price/Book16
Returns on capital11
Profit margins
Cash Conversion39
Owner Earnings Margin27
Sales growth43
Profit Growth78
Long-Term EPS Growth8
Reinvestment35
Price momentum21
Debt load22
Debt serviceability95
Liquidity42
Analyst ratings8
Opinion Changes83
Price Target Upside29
Market mood58
Value Creation10/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

National Australia Bank clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Based on 1/5 components.

Profile

CountryAustralia
IndustryBanks
SizeMedium
TypePublic Company
ExchangeASX
Founded1893
Employees31,322
Websitenab.com.au
ISINAU000000NAB4
Last UpdateApr 2, 2026
Themes
Anti-FraudOnline PaymentsBankingFinanceFinancial ServicesFinTechLendingPayments

Description

National Australia Bank Limited provides financial services to individuals and businesses in Australia, New Zealand, and internationally. The company provides about 10 million customers with secure, easy and reliable banking services. The company f…

Analysis

Weak and unloved

National Australia Bank Limited scores below average on quality and is priced accordingly, a low-conviction position in either direction.

On valuation, the picture is fair. The owner-earnings multiple stands at 21.8×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 7% a year, against analyst forecasts of 5%. The price, in other words, assumes less than the experts do.

Growth is tepid; the safety picture is adequate. The company scores 10/20 on our value-creation score: creating some value. Analyst sentiment is cautious.

No flags apply to this company at this time: accounts, balance sheet, and cash quality all pass. A clean bill of health is meaningful, not just the absence of a warning. This analysis describes numbers; it is not investment advice.

360° rank · history

1007550250
42
2023202420252026

All-time high

50

Nov 2023

All-time low

18

Mar 2026

Average rank

38

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
33
21
27
28
Price/Earnings
31
22
24
25
Price/Book
16
17
19
24
Dividend Yield
77
70
75
76
Value (overall)
41
15
24
30

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →