NATIONAL AUSTRALIA BANK LIMITED (NAB)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

NAB

NAB - NATIONAL AUSTRALIA BANK LIMITED

FNArena Sector : Banks
Year End: September
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

National Australia Bank is the third largest Australian bank by market capitalisation. First listed in 1974 it became the NAB in 1982 with the merger of National Bank of Australasia and the Commercial Banking Company of Sydney.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$44.09

16 Sep
2025

0.300

OPEN

$43.89

0.69%

HIGH

$44.24

4,075,516

LOW

$43.64

TARGET
$36.108 -18.1% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AFG . ANZ . BEN . BOQ . CBA . HLI . MYS . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
NAB: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 224.6 228.8 xxx
DPS (cps) xxx 169.0 170.2 xxx
EPS Growth xxx - 5.0% 1.9% xxx
DPS Growth xxx 1.2% 0.7% xxx
PE Ratio xxx N/A 19.0 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 75.2% 74.4% xxx

Dividend yield today if purchased 3 years ago: 5.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.89

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 07/05 - ex-div 84c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx224.6
DPS All xxxxxxxxxxxxxxx169.0
Sales/Revenue xxxxxxxxxxxxxxx63,168.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,004.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-35,781.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.18 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx11.52 %
Return on Invested Capital xxxxxxxxxxxxxxx2.92 %
Return on Assets xxxxxxxxxxxxxxx0.66 %
Return on Equity xxxxxxxxxxxxxxx11.52 %
Return on Total Capital xxxxxxxxxxxxxxx2.88 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-41,921.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx96,619 M
Long Term Debt xxxxxxxxxxxxxxx185,246 M
Total Debt xxxxxxxxxxxxxxx281,865 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,499 M
Price To Book Value xxxxxxxxxxxxxxx1.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,440.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3,434 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx205,415 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

19/08/2025

4

Lighten

$34.00

-22.89%

National Australia Bank reported good revenue growth for the June quarter, which boosted cash earnings above Ord Minnett's forecast for 2H25.

Net interest margin lifted 8bps in the quarter to 1.78% on the analyst's estimate. Operating expenses growth guidance for FY25 at 4.5% was a negative versus previous guidance of below 4.5% growth.

The bank will also take a -$130m charge in 2H to remediate underpaid staff. Non-performing loans rose 5bps to 1.54% from the prior quarter, which met expectations.

Ord Minnett has lifted its EPS forecasts by 1.1% for FY25 and 4.4% for FY26. Lighten rating retained due to the elevated valuation. Target raised to $34 from $33.

Morgans

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

20/08/2025

4

Underweight

$29.00

-34.23%

National Australia Bank reported unaudited 3Q25 profit of $1.7bn, down -1% and around 49% of Jarden’s 2H25 forecast, which the broker says was broadly in line outside of higher costs and rising bad debts.

Core profit rose 2% to $2.8bn, supported by revenue growth of 3% from margin and volume outcomes, explain the analysts.

The report notes opex increased/worsened by -3% due to staff and IT, with management abandoning its FY25 guidance for growth below 4.5% and now guiding to 4.5% due to payroll remediation costs of circa -$130m.

Bad debts rose sharply to $254m, up 214% quarter-on-quarter, driven by deterioration in New Zealand business banking, explains Jarden.

No changes to forecasts. Underweight rating and $29 target.

FORECAST
Jarden forecasts a full year FY25 dividend of 171.00 cents and EPS of 226.10 cents.
Jarden forecasts a full year FY26 dividend of 173.00 cents and EPS of 226.70 cents.
Access Extra Coverage Research History >

NAB STOCK CHART

FNArena News on NAB

1
Next Week At A Glance – 15-19 Sep 2025

Sep 12 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Sep 09, 2025

Sep 09 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 05-09-25

Sep 08 2025 - Weekly Reports
4
Rudi’s View: Catalyst Metals, Dexus, Neuren, Stockland, ResMed & More

Sep 04 2025 - Rudi's View
5
August In Review: Banks & Golds Drive Rally

Sep 03 2025 - Australia

Latest Banks News

1
Geopolitical Hedging A Boon For CommBank

Jun 10 2025 - Australia
2
Australian Banks: Expensive Havens

Jun 02 2025 - Feature Stories
3
Australian Banks: Global Sanctuary

May 01 2025 - Australia
4
Bank Of Queensland’s Ambitions Questioned

Apr 23 2025 - Australia
5
Fintech’s Future In Australian Banking

Apr 07 2025 - Australia
6
Clouds Are Gathering For Aussie Banks

Mar 27 2025 - Australia
7
Australian Banks: More De-Rating Ahead?

Mar 11 2025 - Australia
8
Higher Highs Beckon For CommBank Shares

Feb 11 2025 - Technicals
9
ANZ Bank Shares Look Poised

Oct 29 2024 - Technicals
10
Australian Banks: When The End Of The Trend?

Oct 07 2024 - Feature Stories