NATIONAL AUSTRALIA BANK LIMITED (NAB)
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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

$33.93

15 Apr
2024

-0.220

OPEN

$33.86

-0.64%

HIGH

$34.02

3,172,034

LOW

$33.71

TARGET
$29.687 -12.5% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABA . AFG . ANZ . BEN . BOQ . CBA . HLI . MYS . RMC . SUN . VUK . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
NAB: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx N/A 221.0 xxx
DPS (cps) xxx N/A 164.4 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 15.4 xxx
Dividend Yield xxx N/A 4.8% xxx
Div Pay Ratio(%) xxx N/A 74.4% xxx

Dividend yield today if purchased 3 years ago: 6.25%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

4.89

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: 14/11 - ex-div 84c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx236.4
DPS All xxxxxxxxxxxxxxx167.0
Sales/Revenue xxxxxxxxxxxxxxx51,699.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,959.5
Net Operating Cash Flow xxxxxxxxxxxxxxx-26,699.0 M
Net Profit Margin xxxxxxxxxxxxxxx14.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx12.42 %
Return on Invested Capital xxxxxxxxxxxxxxx3.26 %
Return on Assets xxxxxxxxxxxxxxx0.71 %
Return on Equity xxxxxxxxxxxxxxx12.42 %
Return on Total Capital xxxxxxxxxxxxxxx3.02 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-32,230.0 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx113,799 M
Long Term Debt xxxxxxxxxxxxxxx175,467 M
Total Debt xxxxxxxxxxxxxxx289,266 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,891 M
Price To Book Value xxxxxxxxxxxxxxx1.48

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx1,192.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3,179 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx205,374 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

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

14/03/2024

5

Downgrade to Underperform from Neutral

$32.50

-4.21%

Macquarie downgrades the ratings for all banks under research coverage to Underperform given they are trading at peak multiples without a clear fundamental reason. The analyst sees limited scope for banks to surprise in the medium-term.

The broker suggests the recent rally for bank shares into expensive territory is more reflective of weight of money and various issues impacting alternative investment opportunities.

In the event of the expected interest rate cuts in Australia, Macquarie sees downside to earnings as it will be difficult for banks to offset
margin headwinds associated with those lower rates. It will be difficult to reprice mortgages, particularly in an election year.

The broker's order of preference is National Australia Bank, Westpac, ANZ Bank and CommBank. Targets across the major banks rise by 4-8% mostly due to an increase in the applied market multiple.

National Australia Bank is downgraded to Underperform from Neutral, while the target rises to $32.50 from $30.

FORECAST
Macquarie forecasts a full year FY24 dividend of 167.00 cents and EPS of 216.00 cents.
Macquarie forecasts a full year FY25 dividend of 167.00 cents and EPS of 213.00 cents.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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NAB STOCK CHART