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NATIONAL BANK OF CANADA - NACN 7.056 PERP (NA-PR-G.CA) Stock Fundamental Analysis

TSX:NA-PR-G - Toronto Stock Exchange - CA63306A2056 - Currency: CAD

26.25  -0.1 (-0.38%)

Fundamental Rating

4

Taking everything into account, NA-PR-G scores 4 out of 10 in our fundamental rating. NA-PR-G was compared to 29 industry peers in the Banks industry. NA-PR-G has a medium profitability rating, but doesn't score so well on its financial health evaluation. NA-PR-G has a decent growth rate and is not valued too expensively. NA-PR-G also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

NA-PR-G had positive earnings in the past year.
In the past year NA-PR-G had a positive cash flow from operations.
In the past 5 years NA-PR-G has always been profitable.
NA-PR-G had a positive operating cash flow in 4 of the past 5 years.
NA-PR-G.CA Yearly Net Income VS EBIT VS OCF VS FCFNA-PR-G.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

1.2 Ratios

NA-PR-G has a Return On Assets (0.69%) which is in line with its industry peers.
NA-PR-G has a Return On Equity of 11.30%. This is comparable to the rest of the industry: NA-PR-G outperforms 41.38% of its industry peers.
Industry RankSector Rank
ROA 0.69%
ROE 11.3%
ROIC N/A
ROA(3y)0.78%
ROA(5y)0.76%
ROE(3y)14.26%
ROE(5y)14.14%
ROIC(3y)N/A
ROIC(5y)N/A
NA-PR-G.CA Yearly ROA, ROE, ROICNA-PR-G.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

NA-PR-G has a better Profit Margin (29.12%) than 89.66% of its industry peers.
NA-PR-G's Profit Margin has improved in the last couple of years.
The Operating Margin and Gross Margin are not available for NA-PR-G so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 29.12%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-2.07%
PM growth 5Y2.22%
GM growth 3YN/A
GM growth 5YN/A
NA-PR-G.CA Yearly Profit, Operating, Gross MarginsNA-PR-G.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

NA-PR-G does not have a ROIC to compare to the WACC, probably because it is not profitable.
NA-PR-G has more shares outstanding than it did 1 year ago.
NA-PR-G has more shares outstanding than it did 5 years ago.
The debt/assets ratio for NA-PR-G has been reduced compared to a year ago.
NA-PR-G.CA Yearly Shares OutstandingNA-PR-G.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
NA-PR-G.CA Yearly Total Debt VS Total AssetsNA-PR-G.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100B 200B 300B 400B

2.2 Solvency

NA-PR-G has a debt to FCF ratio of 6.13. This is a slightly negative value and a sign of low solvency as NA-PR-G would need 6.13 years to pay back of all of its debts.
NA-PR-G's Debt to FCF ratio of 6.13 is fine compared to the rest of the industry. NA-PR-G outperforms 72.41% of its industry peers.
NA-PR-G has a Debt/Equity ratio of 1.78. This is a high value indicating a heavy dependency on external financing.
NA-PR-G has a better Debt to Equity ratio (1.78) than 82.76% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.78
Debt/FCF 6.13
Altman-Z N/A
ROIC/WACCN/A
WACC23.2%
NA-PR-G.CA Yearly LT Debt VS Equity VS FCFNA-PR-G.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
NA-PR-G.CA Yearly Current Assets VS Current LiabilitesNA-PR-G.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

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6

3. Growth

3.1 Past

NA-PR-G shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.88%, which is quite good.
Measured over the past years, NA-PR-G shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.31% on average per year.
The Revenue has grown by 20.85% in the past year. This is a very strong growth!
NA-PR-G shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.93% yearly.
EPS 1Y (TTM)12.88%
EPS 3Y5.02%
EPS 5Y10.31%
EPS Q2Q%12.2%
Revenue 1Y (TTM)20.85%
Revenue growth 3Y8.49%
Revenue growth 5Y8.93%
Sales Q2Q%28.66%

3.2 Future

The Earnings Per Share is expected to grow by 1.50% on average over the next years.
NA-PR-G is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.61% yearly.
EPS Next Y4.43%
EPS Next 2Y7.22%
EPS Next 3Y6.8%
EPS Next 5Y1.5%
Revenue Next Year14.93%
Revenue Next 2Y10.6%
Revenue Next 3Y8.61%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NA-PR-G.CA Yearly Revenue VS EstimatesNA-PR-G.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B
NA-PR-G.CA Yearly EPS VS EstimatesNA-PR-G.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8 10

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 2.38 indicates a rather cheap valuation of NA-PR-G.
NA-PR-G's Price/Earnings ratio is a bit cheaper when compared to the industry. NA-PR-G is cheaper than 79.31% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.41. NA-PR-G is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 2.20, which indicates a rather cheap valuation of NA-PR-G.
NA-PR-G's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. NA-PR-G is cheaper than 72.41% of the companies in the same industry.
NA-PR-G's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 35.19.
Industry RankSector Rank
PE 2.38
Fwd PE 2.2
NA-PR-G.CA Price Earnings VS Forward Price EarningsNA-PR-G.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, NA-PR-G is valued a bit cheaper than 72.41% of the companies in the same industry.
Industry RankSector Rank
P/FCF 1.07
EV/EBITDA N/A
NA-PR-G.CA Per share dataNA-PR-G.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

NA-PR-G's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.54
PEG (5Y)0.23
EPS Next 2Y7.22%
EPS Next 3Y6.8%

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7

5. Dividend

5.1 Amount

NA-PR-G has a Yearly Dividend Yield of 6.62%, which is a nice return.
Compared to an average industry Dividend Yield of 4.64, NA-PR-G pays a better dividend. On top of this NA-PR-G pays more dividend than 86.21% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.35, NA-PR-G pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.62%

5.2 History

The dividend of NA-PR-G is nicely growing with an annual growth rate of 10.25%!
NA-PR-G has been paying a dividend for over 5 years, so it has already some track record.
NA-PR-G has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)10.25%
Div Incr Years1
Div Non Decr Years4
NA-PR-G.CA Yearly Dividends per shareNA-PR-G.CA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

NA-PR-G pays out 47.57% of its income as dividend. This is a bit on the high side, but may be sustainable.
NA-PR-G's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP47.57%
EPS Next 2Y7.22%
EPS Next 3Y6.8%
NA-PR-G.CA Yearly Income VS Free CF VS DividendNA-PR-G.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B
NA-PR-G.CA Dividend Payout.NA-PR-G.CA Dividend Payout, showing the Payout Ratio.NA-PR-G.CA Dividend Payout.PayoutRetained Earnings

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NATIONAL BANK OF CANADA - NACN 7.056 PERP

TSX:NA-PR-G (7/11/2025, 7:00:00 PM)

26.25

-0.1 (-0.38%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)05-28 2025-05-28/bmo
Earnings (Next)08-27 2025-08-27/bmo
Inst Owners36.35%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap10.29B
Analysts72.73
Price Target27.2 (3.62%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.62%
Yearly Dividend4.83
Dividend Growth(5Y)10.25%
DP47.57%
Div Incr Years1
Div Non Decr Years4
Ex-Date07-07 2025-07-07 (0.441)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.26%
Min EPS beat(2)7.33%
Max EPS beat(2)15.18%
EPS beat(4)3
Avg EPS beat(4)6.16%
Min EPS beat(4)-2.42%
Max EPS beat(4)15.18%
EPS beat(8)6
Avg EPS beat(8)3.36%
EPS beat(12)7
Avg EPS beat(12)1.27%
EPS beat(16)10
Avg EPS beat(16)2.77%
Revenue beat(2)2
Avg Revenue beat(2)5.54%
Min Revenue beat(2)3.19%
Max Revenue beat(2)7.89%
Revenue beat(4)3
Avg Revenue beat(4)2.69%
Min Revenue beat(4)-1.39%
Max Revenue beat(4)7.89%
Revenue beat(8)5
Avg Revenue beat(8)0.85%
Revenue beat(12)5
Avg Revenue beat(12)-1.27%
Revenue beat(16)6
Avg Revenue beat(16)-1.34%
PT rev (1m)0%
PT rev (3m)-10.6%
EPS NQ rev (1m)1.16%
EPS NQ rev (3m)1.16%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)5.47%
Revenue NQ rev (3m)5.47%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.22%
Valuation
Industry RankSector Rank
PE 2.38
Fwd PE 2.2
P/S 0.81
P/FCF 1.07
P/OCF 1.05
P/B 0.31
P/tB 0.37
EV/EBITDA N/A
EPS(TTM)11.04
EY42.06%
EPS(NY)11.94
Fwd EY45.5%
FCF(TTM)24.43
FCFY93.08%
OCF(TTM)25.04
OCFY95.37%
SpS32.6
BVpS83.98
TBVpS71.34
PEG (NY)0.54
PEG (5Y)0.23
Profitability
Industry RankSector Rank
ROA 0.69%
ROE 11.3%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 29.12%
GM N/A
FCFM 74.95%
ROA(3y)0.78%
ROA(5y)0.76%
ROE(3y)14.26%
ROE(5y)14.14%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-2.07%
PM growth 5Y2.22%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 1.78
Debt/FCF 6.13
Debt/EBITDA N/A
Cap/Depr 42.83%
Cap/Sales 1.85%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 257.41%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC23.2%
ROIC/WACCN/A
Cap/Depr(3y)71.63%
Cap/Depr(5y)60.13%
Cap/Sales(3y)3.48%
Cap/Sales(5y)3.04%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.88%
EPS 3Y5.02%
EPS 5Y10.31%
EPS Q2Q%12.2%
EPS Next Y4.43%
EPS Next 2Y7.22%
EPS Next 3Y6.8%
EPS Next 5Y1.5%
Revenue 1Y (TTM)20.85%
Revenue growth 3Y8.49%
Revenue growth 5Y8.93%
Sales Q2Q%28.66%
Revenue Next Year14.93%
Revenue Next 2Y10.6%
Revenue Next 3Y8.61%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-26.6%
FCF growth 3Y-10.63%
FCF growth 5Y-12.35%
OCF growth 1Y-26.6%
OCF growth 3Y-8.7%
OCF growth 5Y-10.89%