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

$44.52

15 Apr
2026

-0.170

OPEN

$45.45

-0.38%

HIGH

$45.48

4,045,449

LOW

$44.51

TARGET
$41.22

-0.08 change from previous day

 -7.4% 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 FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 221.0 243.1 xxx
DPS (cps) xxx 170.0 171.2 xxx
EPS Growth xxx - 1.6% 10.0% xxx
DPS Growth xxx 0.6% 0.7% xxx
PE Ratio xxx N/A 17.9 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 76.9% 70.4% xxx

Dividend yield today if purchased 3 years ago: 5.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.92

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: 11/11 - ex-div 85c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx221.0
DPS All xxxxxxxxxxxxxxx170.0
Sales/Revenue xxxxxxxxxxxxxxx60,247.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,059.3
Net Operating Cash Flow xxxxxxxxxxxxxxx8,511.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.27 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.92 %
Return on Invested Capital xxxxxxxxxxxxxxx2.77 %
Return on Assets xxxxxxxxxxxxxxx0.62 %
Return on Equity xxxxxxxxxxxxxxx10.92 %
Return on Total Capital xxxxxxxxxxxxxxx2.81 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,275.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx108,678 M
Long Term Debt xxxxxxxxxxxxxxx180,995 M
Total Debt xxxxxxxxxxxxxxx289,673 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,604 M
Price To Book Value xxxxxxxxxxxxxxx2.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,408.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3,621 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx214,326 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

-0.5

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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

Ord Minnett

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

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

Citi

14/04/2026

5

Sell

$39.25

-11.84%

Citi notes the outlook for Australian banks is becoming more stagflationary, with forecasts for higher interest rates alongside weaker growth and elevated inflation.

While potential additional rate hikes provide modest support to margins, this is expected to be offset by slower credit growth and rising credit costs.

The broker cautions that, despite recent market resilience, persistent inflation pressures may weigh on bank fundamentals and limit earnings upside.

Citi expects National Australia Bank’s 1H26 cash profit of $3.8bn will be around -2% below consensus, reflecting higher bad debt charges, while core earnings are broadly in line. Results are due on May 4.

Sell. Target $39.25.

This research was released by Citi on April 13.

FORECAST
Citi forecasts a full year FY26 dividend of 170.00 cents and EPS of 240.70 cents.
Citi forecasts a full year FY27 dividend of 170.00 cents and EPS of 250.60 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

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
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

14/04/2026

5

Sell

$30.00

-32.61%

Ahead of the bank reporting season Jarden observes volumes should be strong while initial rate rises will support net interest margins and will not hurt treasury and markets. Asset quality has been benign.

The broker suspects banks will likely promote the AI efficiency dividend but will remain cautious about revenue pressure from both agentic AI and Stablecoins. Blockchain presents a material efficiency dividend as well, the broker adds.

Jarden expects net interest margins could surprise on the positive side for National Australia Bank while, as the bank is most exposed to the corporate sector.

The perspective on ECL management with respect to exposure to transport, agricultural, chemicals and industrials will be of interest.

Jarden retains a Sell rating and $30 target for National Australia Bank.

FORECAST
Jarden forecasts a full year FY26 dividend of 171.00 cents and EPS of 238.20 cents.
Jarden forecasts a full year FY27 dividend of 171.00 cents and EPS of 240.90 cents.
Access Extra Coverage Research History >

NAB STOCK CHART

FNArena News on NAB

1
Australian Broker Call *Extra* Edition – Apr 14, 2026

Apr 14 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Apr 09, 2026

Apr 09 2026 - Daily Market Reports
3
March In Review: Oil Price Up, Shares Down

Apr 02 2026 - Australia
4
Weekly Ratings, Targets, Forecast Changes – 27-03-26

Mar 30 2026 - Weekly Reports
5
ASIC Watch: Star Entertainment Judgment Draws Executive Liability Line

Mar 26 2026 - Australia

Latest Banks News

1
Australian Banks: Impact Of Oil Shocks And AI

Mar 25 2026 - Australia
2
February 2026 Results – The Wrap

Mar 13 2026 - Feature Stories
3
Banks Outperformed In February. What’s Next?

Mar 09 2026 - Feature Stories
4
Australian Banks: Coming Home To Roost

Nov 27 2025 - Feature Stories
5
Less Than Perfect CBA Threatens Its Premium

Nov 13 2025 - Australia
6
Australian Banks: Results Season Preview

Oct 30 2025 - Feature Stories
7
CommBank Shares Poised For A Break-Out

Oct 07 2025 - Technicals
8
The Quiet Revolution: How AI And Embedded Finance Are Rewiring Australian Money

Sep 18 2025 - Australia
9
Geopolitical Hedging A Boon For CommBank

Jun 10 2025 - Australia
10
Australian Banks: Expensive Havens

Jun 02 2025 - Feature Stories