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National Bank (NBHC) Financials

National Bank logo
$36.55 +0.41 (+1.13%)
Closing price 03:59 PM Eastern
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$36.55 0.00 (0.00%)
As of 04:20 PM Eastern
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Annual Income Statements for National Bank

Annual Income Statements for National Bank

This table shows National Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 9.18 4.88 23 15 61 80 89 94 71 142 119
Consolidated Net Income / (Loss)		 9.18 4.88 23 15 61 80 89 94 71 142 119
Net Income / (Loss) Continuing Operations		 9.18 4.88 23 15 61 80 89 94 71 142 119
Total Pre-Tax Income 		12 7.93 26 36 74 96 109 115 86 176 145
Total Revenue		 169 178 186 186 268 289 333 298 334 426 407
Net Interest Income / (Expense)		 170 157 146 146 197 206 193 187 267 362 345
Total Interest Income		 185 171 160 164 221 243 218 201 285 495 538
Loans and Leases Interest Income		 134 131 129 137 193 219 200 182 256 461 505
Investment Securities Interest Income		 50 39 30 26 27 23 18 18 25 30 31
Deposits and Money Market Investments Interest Income		 0.33 0.80 0.72 1.49 1.43 0.70 0.31 0.99 3.78 4.46 2.47
Total Interest Expense		 14 14 15 18 24 37 25 14 18 133 193
Deposits Interest Expense		 14 14 14 16 21 30 24 14 15 109 186
Long-Term Debt Interest Expense		 0.29 0.85 0.85 1.94 2.91 6.97 1.43 0.22 3.26 24 6.69
Total Non-Interest Income		 -1.70 21 40 39 71 83 140 110 67 64 61
Other Service Charges		 30 30 33 35 5.38 38 35 45 41 47 54
Net Realized & Unrealized Capital Gains on Investments		 -36 -13 2.88 2.15 30 42 102 63 24 14 4.65
Other Non-Interest Income		 4.25 3.99 4.11 2.31 35 2.03 2.75 2.21 2.27 3.27 3.01
Provision for Credit Losses		 6.21 12 24 13 5.20 12 18 -9.29 37 8.30 6.76
Total Non-Interest Expense		 150 158 136 137 189 181 206 192 211 242 255
Salaries and Employee Benefits		 83 83 80 80 115 123 141 128 125 138 146
Net Occupancy & Equipment Expense		 37 36 29 28 39 36 37 35 44 51 57
Marketing Expense		 4.57 4.33 2.56 2.68 4.51 3.90 2.80 2.51 3.82 4.00 3.99
Property & Liability Insurance Claims		 4.13 3.92 3.24 2.76 2.48 1.05 1.17 1.85 2.12 7.01 5.39
Other Operating Expenses		 19 24 20 22 27 22 21 24 34 35 34
Amortization Expense		 - - 5.48 5.34 2.17 1.18 1.18 1.18 2.34 7.39 7.94
Income Tax Expense		 3.17 3.04 2.95 21 12 16 21 21 15 34 26
Basic Earnings per Share		 $0.22 $0.14 $0.81 $0.54 $2.00 $2.57 $2.87 $3.04 $2.20 $3.74 $3.10
Weighted Average Basic Shares Outstanding		 42.40M 34.35M 28.31M 26.93M 30.75M 31.18M 30.86M 30.73M 32.36M 37.94M 38.21M
Diluted Earnings per Share		 $0.22 $0.14 $0.79 $0.53 $1.95 $2.55 $2.85 $3.01 $2.18 $3.72 $3.08
Weighted Average Diluted Shares Outstanding		 42.42M 34.36M 29.09M 27.71M 31.43M 31.53M 31.08M 31.07M 32.68M 38.11M 38.42M
Weighted Average Basic & Diluted Shares Outstanding		 41.70M 34.90M 28.50M 27M 30.86M 31.18M 30.64M 29.96M 37.61M 37.79M 38.06M
Cash Dividends to Common per Share		 $0.20 $0.20 $0.20 $0.34 $0.54 $0.75 $0.80 $0.87 $0.94 $1.04 $1.12

Quarterly Income Statements for National Bank

This table shows National Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 17 40 33 36 33 31 26 33 28 24
Consolidated Net Income / (Loss)		 16 17 40 33 36 33 31 26 33 28 24
Net Income / (Loss) Continuing Operations		 16 17 40 33 36 33 31 26 33 28 24
Total Pre-Tax Income 		20 20 50 41 45 39 39 32 40 35 30
Total Revenue		 86 109 110 104 107 106 102 98 106 101 102
Net Interest Income / (Expense)		 69 95 95 90 88 90 84 84 88 90 87
Total Interest Income		 72 104 114 121 126 135 132 132 138 136 130
Loans and Leases Interest Income		 64 96 105 112 118 127 124 124 130 128 120
Investment Securities Interest Income		 6.67 7.41 7.76 7.60 7.17 7.05 7.23 7.90 7.88 7.52 9.22
Deposits and Money Market Investments Interest Income		 1.82 0.59 0.65 1.51 1.21 1.09 0.76 0.69 0.56 0.47 0.54
Total Interest Expense		 3.28 8.89 19 31 38 45 48 49 50 46 43
Deposits Interest Expense		 2.95 6.64 11 25 33 40 44 48 49 45 41
Long-Term Debt Interest Expense		 0.33 2.26 7.60 6.14 4.91 5.44 3.70 0.66 0.98 1.34 2.01
Total Non-Interest Income		 17 14 15 14 19 16 18 14 18 11 15
Other Service Charges		 12 11 11 9.08 14 13 14 10.00 15 15 11
Net Realized & Unrealized Capital Gains on Investments		 4.47 2.69 3.22 3.71 4.69 2.02 2.66 3.30 2.98 -4.29 3.32
Other Non-Interest Income		 0.57 0.63 0.65 1.03 0.88 0.71 0.73 0.74 0.76 0.78 0.76
Provision for Credit Losses		 13 22 0.90 1.70 1.13 4.57 0.00 2.78 2.00 1.98 10
Total Non-Interest Expense		 54 68 58 61 61 62 63 63 64 65 62
Salaries and Employee Benefits		 31 36 33 35 35 34 37 37 37 35 34
Net Occupancy & Equipment Expense		 11 15 13 12 13 13 14 14 14 15 15
Marketing Expense		 0.98 1.50 0.87 1.09 1.04 1.01 0.96 0.78 1.09 1.15 0.95
Other Operating Expenses		 11 11 10 11 9.82 4.57 9.34 9.15 9.67 5.47 9.49
Amortization Expense		 0.38 1.36 1.36 2.01 2.01 2.01 2.01 1.98 1.98 1.98 1.98
Income Tax Expense		 3.99 2.95 10 8.37 9.33 5.78 7.50 5.62 6.78 6.54 5.62
Basic Earnings per Share		 $0.51 $0.41 $1.06 $0.86 $0.95 $0.87 $0.82 $0.68 $0.86 $0.74 $0.63
Weighted Average Basic Shares Outstanding		 31.26M 32.36M 37.79M 37.96M 37.99M 37.94M 38.03M 38.21M 38.28M 38.21M 38.07M
Diluted Earnings per Share		 $0.50 $0.41 $1.06 $0.85 $0.94 $0.87 $0.82 $0.68 $0.86 $0.72 $0.63
Weighted Average Diluted Shares Outstanding		 31.53M 32.68M 38.07M 38.11M 38.13M 38.11M 38.19M 38.37M 38.50M 38.42M 38.23M
Weighted Average Basic & Diluted Shares Outstanding		 37.59M 37.61M 37.71M 37.72M 75.52M 37.79M 37.83M 37.92M 38.01M 38.06M 38.09M
Cash Dividends to Common per Share		 $0.23 - $0.25 $0.26 $0.26 - $0.27 $0.28 $0.28 - $0.29

Annual Cash Flow Statements for National Bank

This table details how cash moves in and out of National Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 68 -91 -13 105 -138 0.63 495 235 -652 -6.19 -64
Net Cash From Operating Activities		 -2.76 -38 -3.94 58 74 44 -6.21 180 215 167 155
Net Cash From Continuing Operating Activities		 -2.76 -38 -3.94 58 74 44 -6.21 180 215 167 155
Net Income / (Loss) Continuing Operations		 9.18 4.88 23 15 61 80 89 94 71 142 119
Consolidated Net Income / (Loss)		 9.18 4.88 23 15 61 80 89 94 71 142 119
Provision For Loan Losses		 6.21 12 24 13 0.37 11 18 -9.29 37 8.30 6.76
Depreciation Expense		 16 16 14 13 12 15 14 14 16 24 24
Amortization Expense		 -64 4.12 3.07 2.58 2.91 2.05 3.37 4.34 1.11 -0.83 -1.35
Non-Cash Adjustments to Reconcile Net Income		 20 -50 -54 -0.19 -27 -84 -132 116 99 6.74 9.31
Changes in Operating Assets and Liabilities, net		 9.94 -24 -14 15 24 19 1.33 -39 -10 -13 -2.45
Net Cash From Investing Activities		 197 182 115 -179 -102 -115 -153 -474 -752 -404 65
Net Cash From Continuing Investing Activities		 197 182 115 -179 -102 -115 -153 -474 -752 -404 65
Purchase of Investment Securities		 -299 -346 -291 -530 -523 -419 -530 -876 -1,399 -623 -349
Divestitures		 - - - - 69 - 0.00 0.00 234 -45 0.00
Sale and/or Maturity of Investments		 499 510 406 351 352 304 377 402 412 264 414
Net Cash From Financing Activities		 -127 -236 -124 225 -109 71 654 529 -114 231 -284
Net Cash From Continuing Financing Activities		 -127 -236 -124 225 -109 71 654 529 -114 231 -284
Net Change in Deposits		 -72 -56 28 114 -174 202 939 553 -466 317 47
Issuance of Debt		 40 - 219 263 889 1,477 947 40 385 -45 -290
Payment of Dividends		 -8.51 -6.71 -6.40 -9.40 -17 -24 -25 -27 -30 -40 -43
Other Financing Activities, Net		 33 2.18 -51 30 -58 -13 -33 0.09 -2.93 -1.50 1.31
Cash Interest Paid		 14 14 14 17 23 34 28 17 19 124 190
Cash Income Taxes Paid		 -8.12 -7.42 2.19 -0.13 -2.35 9.27 22 15 11 33 21

Quarterly Cash Flow Statements for National Bank

This table details how cash moves in and out of National Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -192 -61 173 -46 -33 -100 101 -148 36 -53 118
Net Cash From Operating Activities		 54 34 -19 93 48 45 30 32 47 46 40
Net Cash From Continuing Operating Activities		 54 34 -19 93 48 45 30 32 47 46 40
Net Income / (Loss) Continuing Operations		 16 17 40 33 36 33 31 26 33 28 24
Consolidated Net Income / (Loss)		 16 17 40 33 36 33 31 26 33 28 24
Provision For Loan Losses		 10 24 0.90 1.70 1.13 4.57 0.00 2.78 2.00 1.98 10
Depreciation Expense		 3.83 5.74 5.12 6.26 6.14 6.34 6.02 6.00 5.86 6.31 6.33
Amortization Expense		 0.06 -0.08 -0.12 -0.35 -0.15 -0.21 -0.20 -0.65 -0.35 -0.15 -0.48
Non-Cash Adjustments to Reconcile Net Income		 15 5.67 -1.03 -6.97 11 3.33 2.37 -5.35 12 0.08 19
Changes in Operating Assets and Liabilities, net		 9.22 -19 -64 60 -6.49 -2.53 -9.62 3.00 -5.86 10 -20
Net Cash From Investing Activities		 -110 -163 -124 -52 -30 -199 94 -62 -88 120 -127
Net Cash From Continuing Investing Activities		 -110 -163 -124 -52 -30 -199 94 -62 -88 120 -127
Purchase of Investment Securities		 -417 -352 -168 -119 -90 -247 6.46 -181 -112 -63 -359
Sale and/or Maturity of Investments		 62 199 44 112 60 48 87 119 24 184 231
Net Cash From Financing Activities		 -136 69 315 -87 -51 54 -23 -118 77 -220 206
Net Cash From Continuing Financing Activities		 -136 69 315 -87 -51 54 -23 -118 77 -220 206
Net Change in Deposits		 -125 -307 -291 539 28 41 327 -141 120 -259 186
Issuance of Common Equity		 - - -0.24 - - - 0.13 - - - -0.58
Repayment of Debt		 - - -375 -1,920 2,227 - -760 -210 630 - 30
Payment of Dividends		 -6.96 -9.44 -9.53 -9.97 -9.88 -10 -10 -11 -11 -11 -11
Other Financing Activities, Net		 -3.78 0.36 1.28 -1.59 -0.58 -0.62 -0.05 -1.46 2.20 0.62 1.86
Cash Interest Paid		 3.31 9.01 15 29 33 48 45 50 46 49 43
Cash Income Taxes Paid		 2.19 5.74 0.04 17 8.27 8.02 0.08 13 3.59 4.43 -0.10

Annual Balance Sheets for National Bank

This table presents National Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 4,820 4,684 4,573 4,843 5,677 5,896 6,660 7,214 9,573 9,951 9,808
Cash and Due from Banks		 247 156 153 193 109 110 605 845 196 191 128
Trading Account Securities		 2,015 1,598 1,241 1,119 1,027 821 1,061 1,352 1,447 1,304 1,137
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 -36 4,376 4,294 4,464 7,131 7,601 7,657
Loans and Leases		 - - - - - 4,415 4,354 4,513 7,220 7,699 7,751
Allowance for Loan and Lease Losses		 - - - - 36 39 60 50 90 98 94
Loans Held for Sale		 - - - - 48 117 248 139 23 19 24
Premises and Equipment, Net		 106 103 96 94 110 112 107 97 136 163 197
Goodwill		 60 60 60 60 115 115 115 115 279 306 306
Intangible Assets		 17 12 6.95 1.61 13 11 18 12 60 66 58
Other Assets		 2,365 2,745 3,017 3,312 4,290 232 212 4,653 302 301 300
Total Liabilities & Shareholders' Equity		 4,820 4,684 4,573 4,843 5,677 5,896 6,660 7,214 9,573 9,951 9,808
Total Liabilities		 4,025 4,066 4,037 4,311 4,982 5,129 5,839 6,374 8,481 8,738 8,503
Non-Interest Bearing Deposits		 733 815 847 902 1,072 1,185 2,111 2,506 3,135 2,361 2,214
Interest Bearing Deposits		 3,034 3,026 3,022 3,077 3,464 3,552 3,565 3,722 4,738 5,829 6,024
Short-Term Debt		 134 137 92 130 66 57 23 23 20 20 19
Long-Term Debt		 40 40 39 129 302 208 0.00 39 439 394 105
Other Long-Term Liabilities		 85 49 38 72 78 127 140 83 149 134 141
Total Equity & Noncontrolling Interests		 795 618 536 532 695 767 821 840 1,092 1,213 1,305
Total Preferred & Common Equity		 795 618 536 532 695 767 821 840 1,092 1,213 1,305
Total Common Equity		 795 618 536 532 695 767 821 840 1,092 1,213 1,305
Common Stock		 994 998 985 971 1,015 1,010 1,012 1,015 1,160 1,163 1,168
Retained Earnings		 41 39 55 61 107 164 223 290 331 433 509
Treasury Stock		 -246 -420 -502 -493 -416 -409 -424 -458 -310 -307 -302
Accumulated Other Comprehensive Income / (Loss)		 5.84 0.10 -1.76 -6.24 -11 2.06 9.77 -6.96 -88 -76 -70

Quarterly Balance Sheets for National Bank

This table presents National Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 7,923 9,917 9,872 9,866 9,967 9,971 9,993 10,099
Cash and Due from Banks		 255 369 324 291 293 145 181 246
Trading Account Securities		 1,401 1,454 1,368 1,309 1,330 1,319 1,319 1,417
Loans and Leases, Net of Allowance		 5,656 7,255 7,322 7,385 7,471 7,626 7,619 7,556
Loans and Leases		 5,722 7,345 7,414 7,478 7,569 7,722 7,714 7,646
Allowance for Loan and Lease Losses		 66 90 93 93 98 96 95 90
Loans Held for Sale		 33 25 25 19 14 19 17 12
Premises and Equipment, Net		 106 140 148 154 169 177 192 205
Goodwill		 168 279 306 306 306 306 306 306
Intangible Assets		 31 59 75 68 64 62 60 54
Other Assets		 272 7,591 305 334 320 317 298 302
Total Liabilities & Shareholders' Equity		 7,923 9,917 9,872 9,866 9,967 9,971 9,993 10,099
Total Liabilities		 7,003 8,783 8,725 8,703 8,736 8,723 8,701 8,770
Non-Interest Bearing Deposits		 2,736 2,921 2,629 2,483 2,293 2,229 2,269 2,215
Interest Bearing Deposits		 4,068 4,661 5,492 5,666 6,225 6,147 6,228 6,209
Short-Term Debt		 20 21 21 20 20 19 20 21
Long-Term Debt		 40 1,054 439 371 54 89 54 135
Other Long-Term Liabilities		 140 126 143 163 144 237 130 190
Total Equity & Noncontrolling Interests		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329
Total Preferred & Common Equity		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329
Total Common Equity		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329
Common Stock		 1,080 1,161 1,159 1,161 1,164 1,162 1,165 1,169
Retained Earnings		 323 361 384 410 454 470 492 522
Treasury Stock		 -395 -310 -307 -307 -306 -304 -302 -302
Accumulated Other Comprehensive Income / (Loss)		 -89 -79 -89 -101 -80 -80 -62 -60

Annual Metrics And Ratios for National Bank

This table displays calculated financial ratios and metrics derived from National Bank's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -15.36% 5.84% 4.08% -0.08% 44.58% 7.59% 15.46% -10.71% 12.32% 27.45% -4.52%
EBITDA Growth		 -201.76% 177.37% 57.08% 18.61% 71.66% 28.56% 12.31% 4.46% -21.93% 91.46% -15.37%
EBIT Growth		 13.46% -35.78% 228.16% 37.89% 105.46% 30.55% 13.73% 5.10% -25.04% 103.75% -17.29%
NOPAT Growth		 32.47% -46.81% 372.44% -36.78% 321.50% 30.78% 10.24% 5.66% -23.86% 99.30% -16.36%
Net Income Growth		 32.47% -46.81% 372.44% -36.78% 321.50% 30.78% 10.24% 5.66% -23.86% 99.30% -16.36%
EPS Growth		 57.14% -36.36% 464.29% -32.91% 267.92% 30.77% 11.76% 5.61% -27.57% 70.64% -17.20%
Operating Cash Flow Growth		 89.23% -1,265.81% 89.54% 1,577.11% 26.55% -39.87% -114.04% 2,989.60% 19.57% -22.22% -6.99%
Free Cash Flow Firm Growth		 -75.05% 366.14% -16.03% -173.57% -89.32% 153.30% 147.90% -87.40% -1,758.00% 111.55% 375.07%
Invested Capital Growth		 -2.93% -17.98% -16.02% 18.76% 34.18% -2.93% -18.22% 6.97% 71.92% 4.86% -12.18%
Revenue Q/Q Growth		 -4.79% 11.14% -4.90% -3.65% 11.28% 1.66% 6.01% -1.32% 7.61% -0.85% -1.05%
EBITDA Q/Q Growth		 -211.52% 160.16% 3.96% -14.93% 27.00% 3.68% 15.73% -2.62% -13.55% 11.01% -2.41%
EBIT Q/Q Growth		 20.61% 141.40% 10.06% -19.37% 35.14% 2.96% 19.36% -2.15% -18.01% 12.30% -2.79%
NOPAT Q/Q Growth		 16.20% 27.77% 40.53% -57.97% 80.22% 2.93% 9.45% 4.53% -16.91% 13.05% -3.99%
Net Income Q/Q Growth		 16.20% 27.77% 40.53% -57.97% 80.22% 2.93% 9.45% 4.53% -16.91% 13.05% -3.99%
EPS Q/Q Growth		 22.22% 40.00% 41.07% -56.56% 85.71% 3.24% 10.04% 4.15% -21.30% 14.11% -4.64%
Operating Cash Flow Q/Q Growth		 -110.26% -17.16% -182.29% 664.99% 73.17% 538.05% -113.78% -9.53% -0.51% 7.11% 1.18%
Free Cash Flow Firm Q/Q Growth		 -83.78% 94.40% 13.28% -379.65% -212.21% 166.17% -26.77% -25.33% -2,031.35% 114.82% 1.41%
Invested Capital Q/Q Growth		 5.36% -4.41% -6.66% 2.57% 21.69% -7.90% 2.47% 4.18% 58.45% 4.62% 4.58%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -21.13% 15.44% 23.31% 27.67% 32.85% 39.25% 38.18% 44.67% 31.05% 46.64% 41.34%
EBIT Margin		 7.32% 4.44% 14.01% 19.33% 27.47% 33.33% 32.83% 38.64% 25.79% 41.23% 35.72%
Profit (Net Income) Margin		 5.44% 2.74% 12.42% 7.86% 22.91% 27.85% 26.59% 31.46% 21.33% 33.35% 29.22%
Tax Burden Percent		 74.35% 61.59% 88.67% 40.65% 83.40% 83.54% 80.98% 81.42% 82.70% 80.89% 81.80%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 25.65% 38.41% 11.33% 59.35% 16.60% 16.46% 19.02% 18.58% 17.30% 19.11% 18.20%
Return on Invested Capital (ROIC)		 0.93% 0.55% 3.16% 2.00% 6.63% 7.67% 9.45% 10.72% 5.81% 8.94% 7.78%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.93% 0.55% 3.16% 2.00% 6.63% 7.67% 9.45% 10.72% 5.81% 8.94% 7.78%
Return on Net Nonoperating Assets (RNNOA)		 0.15% 0.14% 0.84% 0.73% 3.39% 3.32% 1.71% 0.55% 1.57% 3.39% 1.66%
Return on Equity (ROE)		 1.08% 0.69% 4.00% 2.73% 10.01% 10.99% 11.16% 11.27% 7.38% 12.33% 9.44%
Cash Return on Invested Capital (CROIC)		 3.91% 20.31% 20.57% -15.15% -22.57% 10.65% 29.50% 3.99% -47.09% 4.20% 20.75%
Operating Return on Assets (OROA)		 0.25% 0.17% 0.56% 0.76% 1.40% 1.66% 1.74% 1.66% 1.03% 1.80% 1.47%
Return on Assets (ROA)		 0.19% 0.10% 0.50% 0.31% 1.17% 1.39% 1.41% 1.35% 0.85% 1.46% 1.20%
Return on Common Equity (ROCE)		 1.08% 0.69% 4.00% 2.73% 10.01% 10.99% 11.16% 11.27% 7.38% 12.33% 9.44%
Return on Equity Simple (ROE_SIMPLE)		 1.15% 0.79% 4.30% 2.74% 8.84% 10.48% 10.79% 11.14% 6.53% 11.71% 9.10%
Net Operating Profit after Tax (NOPAT)		 9.18 4.88 23 15 61 80 89 94 71 142 119
NOPAT Margin		 5.44% 2.74% 12.42% 7.86% 22.91% 27.85% 26.59% 31.46% 21.33% 33.35% 29.22%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 73.82% 69.14% 59.89% 59.86% 58.92% 56.39% 54.17% 55.33% 51.76% 45.17% 51.07%
Operating Expenses to Revenue		 88.99% 88.58% 73.25% 73.68% 70.59% 62.63% 61.88% 64.48% 63.22% 56.82% 62.62%
Earnings before Interest and Taxes (EBIT)		 12 7.93 26 36 74 96 109 115 86 176 145
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -36 28 43 51 88 113 127 133 104 199 168
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.81 0.88 1.31 1.40 1.19 1.27 1.12 1.48 1.36 1.13 1.25
Price to Tangible Book Value (P/TBV)		 0.90 1.00 1.50 1.59 1.46 1.53 1.33 1.74 1.98 1.62 1.74
Price to Revenue (P/Rev)		 3.82 3.06 3.79 4.03 3.09 3.39 2.75 4.18 4.46 3.21 4.03
Price to Earnings (P/E)		 70.12 111.74 30.51 51.29 13.47 12.16 10.34 13.28 20.91 9.61 13.78
Dividend Yield		 1.24% 1.11% 0.81% 1.22% 2.01% 2.39% 2.67% 2.12% 2.37% 2.88% 2.60%
Earnings Yield		 1.43% 0.89% 3.28% 1.95% 7.43% 8.22% 9.67% 7.53% 4.78% 10.41% 7.26%
Enterprise Value to Invested Capital (EV/IC)		 0.58 0.70 1.02 0.95 1.02 1.10 0.40 0.51 1.13 0.98 1.14
Enterprise Value to Revenue (EV/Rev)		 3.32 3.12 3.67 4.04 4.05 3.92 1.00 1.55 5.25 3.73 4.01
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 20.17 15.75 14.61 12.32 9.99 2.62 3.46 16.91 8.00 9.71
Enterprise Value to EBIT (EV/EBIT)		 45.38 70.14 26.20 20.91 14.73 11.76 3.05 4.00 20.35 9.04 11.24
Enterprise Value to NOPAT (EV/NOPAT)		 61.03 113.88 29.55 51.44 17.67 14.08 3.76 4.91 24.61 11.18 13.74
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 12.90 14.76 25.57 0.00 2.56 8.17 9.51 10.51
Enterprise Value to Free Cash Flow (EV/FCFF)		 14.59 3.11 4.54 0.00 0.00 10.14 1.21 13.19 0.00 23.80 5.15
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.22 0.29 0.24 0.49 0.53 0.35 0.03 0.07 0.42 0.34 0.09
Long-Term Debt to Equity		 0.05 0.06 0.07 0.24 0.43 0.27 0.00 0.05 0.40 0.33 0.08
Financial Leverage		 0.16 0.25 0.27 0.37 0.51 0.43 0.18 0.05 0.27 0.38 0.21
Leverage Ratio		 5.75 6.73 8.02 8.81 8.57 7.92 7.91 8.35 8.69 8.47 7.85
Compound Leverage Factor		 5.75 6.73 8.02 8.81 8.57 7.92 7.91 8.35 8.69 8.47 7.85
Debt to Total Capital		 17.93% 22.23% 19.60% 32.78% 34.60% 25.65% 2.71% 6.90% 29.59% 25.44% 8.64%
Short-Term Debt to Total Capital		 13.79% 17.19% 13.80% 16.47% 6.21% 5.52% 2.71% 2.52% 1.30% 1.21% 1.32%
Long-Term Debt to Total Capital		 4.13% 5.04% 5.80% 16.30% 28.39% 20.13% 0.00% 4.38% 28.29% 24.23% 7.32%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 82.07% 77.77% 80.40% 67.22% 65.40% 74.35% 97.29% 93.10% 70.41% 74.56% 91.36%
Debt to EBITDA		 -4.87 6.41 3.02 5.06 4.17 2.34 0.18 0.47 4.43 2.08 0.73
Net Debt to EBITDA		 2.34 0.38 -0.51 0.04 2.93 1.36 -4.58 -5.90 2.54 1.12 -0.03
Long-Term Debt to EBITDA		 -1.12 1.45 0.89 2.52 3.42 1.83 0.00 0.30 4.23 1.98 0.62
Debt to NOPAT		 18.91 36.17 5.67 17.80 5.98 3.29 0.26 0.67 6.44 2.91 1.04
Net Debt to NOPAT		 -9.09 2.14 -0.96 0.15 4.20 1.92 -6.58 -8.37 3.70 1.57 -0.04
Long-Term Debt to NOPAT		 4.36 8.20 1.68 8.86 4.91 2.58 0.00 0.42 6.16 2.78 0.88
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 38 179 150 -111 -209 112 277 35 -578 67 317
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 2.66 12.37 10.15 -6.10 -8.74 3.03 11.04 2.52 -32.36 0.50 1.64
Operating Cash Flow to Interest Expense		 -0.19 -2.60 -0.27 3.21 3.07 1.20 -0.25 12.99 12.02 1.25 0.81
Operating Cash Flow Less CapEx to Interest Expense		 -0.19 -2.60 -0.27 3.21 3.07 1.20 -0.25 12.99 12.02 1.25 0.81
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.04 0.04 0.04 0.05 0.05 0.05 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 1.52 1.70 1.87 1.96 2.63 2.60 3.04 2.92 2.87 2.85 2.26
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 968 794 667 792 1,063 1,032 844 902 1,551 1,627 1,428
Invested Capital Turnover		 0.17 0.20 0.25 0.25 0.29 0.28 0.36 0.34 0.27 0.27 0.27
Increase / (Decrease) in Invested Capital		 -29 -174 -127 125 271 -31 -188 59 649 75 -198
Enterprise Value (EV)		 560 556 682 750 1,086 1,132 333 460 1,754 1,588 1,632
Market Capitalization		 643 545 704 748 827 977 916 1,243 1,490 1,365 1,637
Book Value per Share		 $19.97 $20.36 $20.65 $19.83 $22.59 $24.60 $26.82 $27.73 $29.05 $32.12 $34.33
Tangible Book Value per Share		 $18.05 $17.99 $18.09 $17.55 $18.41 $20.55 $22.47 $23.53 $20.03 $22.26 $24.74
Total Capital		 968 794 667 792 1,063 1,032 844 902 1,551 1,627 1,428
Total Debt		 174 177 131 260 368 265 23 62 459 414 123
Total Long-Term Debt		 40 40 39 129 302 208 0.00 39 439 394 105
Net Debt		 -83 10 -22 2.21 258 154 -583 -783 264 223 -4.44
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 174 177 131 260 368 265 23 62 459 414 123
Total Depreciation and Amortization (D&A)		 -48 20 17 15 14 17 18 18 18 23 23
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.22 $0.14 $0.81 $0.54 $2.00 $2.57 $2.87 $3.04 $2.20 $3.74 $3.10
Adjusted Weighted Average Basic Shares Outstanding		 42.40M 34.35M 28.31M 26.93M 30.75M 31.18M 30.86M 30.73M 32.36M 37.94M 38.21M
Adjusted Diluted Earnings per Share		 $0.22 $0.14 $0.79 $0.53 $1.95 $2.55 $2.85 $3.01 $2.18 $3.72 $3.08
Adjusted Weighted Average Diluted Shares Outstanding		 42.42M 34.36M 29.09M 27.71M 31.43M 31.53M 31.08M 31.07M 32.68M 38.11M 38.42M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.21M 29.46M 26.61M 30.31M 30.86M 31.18M 30.64M 29.96M 37.61M 37.79M 38.06M
Normalized Net Operating Profit after Tax (NOPAT)		 11 9.14 19 22 61 75 90 94 71 142 119
Normalized NOPAT Margin		 6.50% 5.12% 10.33% 11.97% 22.76% 26.03% 27.15% 31.46% 21.33% 33.35% 29.22%
Pre Tax Income Margin		 7.32% 4.44% 14.01% 19.33% 27.47% 33.33% 32.83% 38.64% 25.79% 41.23% 35.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.86 0.55 1.76 1.98 3.08 2.62 4.37 8.32 4.83 1.32 0.75
NOPAT to Interest Expense		 0.64 0.34 1.56 0.80 2.57 2.19 3.54 6.77 3.99 1.06 0.62
EBIT Less CapEx to Interest Expense		 0.86 0.55 1.76 1.98 3.08 2.62 4.37 8.32 4.83 1.32 0.75
NOPAT Less CapEx to Interest Expense		 0.64 0.34 1.56 0.80 2.57 2.19 3.54 6.77 3.99 1.06 0.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 92.71% 137.49% 27.75% 64.48% 27.05% 29.28% 28.01% 28.72% 42.72% 27.91% 36.14%
Augmented Payout Ratio		 1,393.60% 3,731.35% 433.53% 64.48% 27.05% 29.28% 50.00% 67.61% 42.72% 27.91% 36.14%

Quarterly Metrics And Ratios for National Bank

This table displays calculated financial ratios and metrics derived from National Bank's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.61% 27.62% 66.71% 42.36% 23.94% -3.33% -7.15% -5.80% -1.03% -4.09% 0.34%
EBITDA Growth		 -19.46% -39.09% 112.11% 63.78% 116.70% 77.78% -19.24% -20.76% -11.70% -9.20% -20.16%
EBIT Growth		 -19.95% -49.03% 129.39% 65.54% 128.98% 97.73% -22.78% -22.42% -12.19% -10.73% -23.25%
NOPAT Growth		 -20.11% -46.46% 119.50% 59.89% 127.84% 98.08% -22.07% -19.73% -8.26% -14.91% -22.81%
Net Income Growth		 -20.11% -46.46% 119.50% 59.89% 127.84% 98.08% -22.07% -19.73% -8.26% -14.91% -22.81%
EPS Growth		 -21.88% -59.00% 76.67% 26.87% 88.00% 112.20% -22.64% -20.00% -8.51% -17.24% -23.17%
Operating Cash Flow Growth		 395.49% -3.17% -138.55% 18.55% -10.72% 33.06% 259.39% -65.68% -2.39% 4.05% 32.27%
Free Cash Flow Firm Growth		 -320.90% -2,196.11% -340.24% -4,529.93% -456.06% 93.32% 143.10% 139.88% 141.12% 636.25% -116.55%
Invested Capital Growth		 13.03% 71.92% 0.00% 82.81% 58.81% 4.86% -40.90% -15.63% -12.14% -12.18% 13.71%
Revenue Q/Q Growth		 18.78% 26.32% 0.32% -5.43% 3.41% -1.47% -3.64% -4.05% 8.65% -4.52% 0.81%
EBITDA Q/Q Growth		 -17.06% 6.79% 118.58% -15.41% 9.75% -12.39% -0.71% -17.00% 22.30% -9.92% -12.69%
EBIT Q/Q Growth		 -19.78% -0.81% 156.00% -18.74% 10.97% -14.34% -0.03% -18.35% 25.60% -12.93% -14.04%
NOPAT Q/Q Growth		 -22.21% 5.57% 140.91% -19.18% 10.84% -8.22% -5.22% -16.74% 26.67% -14.86% -14.03%
Net Income Q/Q Growth		 -22.21% 5.57% 140.91% -19.18% 10.84% -8.22% -5.22% -16.74% 26.67% -14.86% -14.03%
EPS Q/Q Growth		 -25.37% -18.00% 158.54% -19.81% 10.59% -7.45% -5.75% -17.07% 26.47% -16.28% -12.50%
Operating Cash Flow Q/Q Growth		 -31.29% -37.77% -156.04% 594.76% -48.26% -7.26% -32.87% 6.55% 47.15% -1.14% -14.66%
Free Cash Flow Firm Q/Q Growth		 -717.90% -551.47% -243.05% 67.92% 22.44% 92.18% 2,315.02% -70.32% -20.02% 2.00% -168.36%
Invested Capital Q/Q Growth		 11.32% 58.45% 42.41% -27.22% -3.30% 4.62% -19.73% 3.89% 0.70% 4.58% 3.93%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 27.44% 23.19% 50.53% 45.20% 47.97% 42.66% 43.95% 38.02% 42.80% 40.38% 34.97%
EBIT Margin		 22.94% 18.01% 45.97% 39.50% 42.39% 36.85% 38.23% 32.53% 37.61% 34.30% 29.25%
Profit (Net Income) Margin		 18.32% 15.31% 36.77% 31.42% 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74%
Tax Burden Percent		 79.86% 84.99% 79.99% 79.55% 79.46% 85.14% 80.72% 82.31% 83.01% 81.16% 81.18%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 20.14% 15.01% 20.01% 20.45% 20.54% 14.86% 19.28% 17.69% 16.99% 18.84% 18.82%
Return on Invested Capital (ROIC)		 6.17% 4.17% 12.58% 10.33% 11.42% 8.41% 7.34% 7.44% 8.78% 7.41% 6.92%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.17% 4.17% 12.58% 10.33% 11.42% 8.41% 7.34% 7.44% 8.78% 7.41% 6.92%
Return on Net Nonoperating Assets (RNNOA)		 0.28% 1.13% 11.94% 2.76% 2.47% 3.18% 3.57% 1.77% 1.66% 1.58% 0.62%
Return on Equity (ROE)		 6.45% 5.30% 24.52% 13.09% 13.89% 11.59% 10.91% 9.21% 10.45% 8.99% 7.54%
Cash Return on Invested Capital (CROIC)		 -2.94% -47.09% -191.56% -50.09% -35.53% 4.20% 58.99% 25.51% 21.40% 20.75% -4.82%
Operating Return on Assets (OROA)		 0.95% 0.72% 1.75% 1.90% 2.05% 1.61% 1.61% 1.35% 1.56% 1.41% 1.19%
Return on Assets (ROA)		 0.76% 0.61% 1.40% 1.51% 1.63% 1.37% 1.30% 1.11% 1.29% 1.15% 0.96%
Return on Common Equity (ROCE)		 6.45% 5.30% 24.52% 13.09% 13.89% 11.59% 10.91% 9.21% 10.45% 8.99% 7.54%
Return on Equity Simple (ROE_SIMPLE)		 9.33% 0.00% 8.22% 9.19% 10.80% 0.00% 10.81% 10.16% 9.58% 0.00% 8.40%
Net Operating Profit after Tax (NOPAT)		 16 17 40 33 36 33 31 26 33 28 24
NOPAT Margin		 18.32% 15.31% 36.77% 31.42% 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.10% 48.67% 42.61% 46.71% 45.53% 45.96% 50.62% 53.23% 49.52% 51.07% 49.52%
Operating Expenses to Revenue		 62.39% 61.96% 53.21% 58.86% 56.56% 58.82% 61.77% 64.62% 60.51% 63.75% 60.76%
Earnings before Interest and Taxes (EBIT)		 20 20 50 41 45 39 39 32 40 35 30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 24 25 55 47 51 45 45 37 45 41 36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.15 1.36 1.07 0.92 0.94 1.13 1.10 1.18 1.24 1.25 1.10
Price to Tangible Book Value (P/TBV)		 1.47 1.98 1.52 1.38 1.38 1.62 1.57 1.68 1.72 1.74 1.50
Price to Revenue (P/Rev)		 3.40 4.46 3.20 2.59 2.53 3.21 3.23 3.58 3.88 4.03 3.58
Price to Earnings (P/E)		 12.31 20.91 12.96 10.06 8.66 9.61 10.15 11.66 12.90 13.78 13.04
Dividend Yield		 2.59% 2.37% 2.99% 3.52% 3.53% 2.88% 2.96% 2.77% 2.61% 2.60% 2.98%
Earnings Yield		 8.12% 4.78% 7.72% 9.94% 11.54% 10.41% 9.85% 8.58% 7.75% 7.26% 7.67%
Enterprise Value to Invested Capital (EV/IC)		 0.88 1.13 0.87 0.74 0.76 0.98 0.87 1.06 1.09 1.14 0.92
Enterprise Value to Revenue (EV/Rev)		 2.77 5.25 5.06 2.93 2.77 3.73 2.71 3.50 3.62 4.01 3.36
Enterprise Value to EBITDA (EV/EBITDA)		 7.16 16.91 14.39 7.91 6.64 8.00 6.02 8.08 8.65 9.71 8.58
Enterprise Value to EBIT (EV/EBIT)		 8.18 20.35 16.70 9.15 7.60 9.04 6.90 9.30 9.97 11.24 10.02
Enterprise Value to NOPAT (EV/NOPAT)		 10.02 24.61 20.53 11.36 9.46 11.18 8.50 11.37 12.04 13.74 12.23
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.98 8.17 13.01 7.40 7.63 9.51 5.25 9.32 9.71 10.51 8.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 23.80 1.09 3.81 4.77 5.15 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.42 0.95 0.40 0.34 0.34 0.06 0.09 0.06 0.09 0.12
Long-Term Debt to Equity		 0.04 0.40 0.93 0.38 0.32 0.33 0.04 0.07 0.04 0.08 0.10
Financial Leverage		 0.05 0.27 0.95 0.27 0.22 0.38 0.49 0.24 0.19 0.21 0.09
Leverage Ratio		 8.52 8.69 8.75 8.68 8.54 8.47 8.41 8.29 8.09 7.85 7.83
Compound Leverage Factor		 8.52 8.69 8.75 8.68 8.54 8.47 8.41 8.29 8.09 7.85 7.83
Debt to Total Capital		 6.09% 29.59% 48.68% 28.64% 25.16% 25.44% 5.66% 8.02% 5.41% 8.64% 10.46%
Short-Term Debt to Total Capital		 2.05% 1.30% 0.97% 1.33% 1.30% 1.21% 1.50% 1.44% 1.43% 1.32% 1.40%
Long-Term Debt to Total Capital		 4.04% 28.29% 47.71% 27.31% 23.86% 24.23% 4.16% 6.59% 3.99% 7.32% 9.07%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 93.91% 70.41% 51.32% 71.36% 74.84% 74.56% 94.34% 91.98% 94.59% 91.36% 89.54%
Debt to EBITDA		 0.50 4.43 8.09 3.04 2.19 2.08 0.39 0.61 0.43 0.73 0.98
Net Debt to EBITDA		 -1.64 2.54 5.31 0.90 0.56 1.12 -1.17 -0.20 -0.62 -0.03 -0.57
Long-Term Debt to EBITDA		 0.33 4.23 7.92 2.90 2.07 1.98 0.29 0.50 0.32 0.62 0.85
Debt to NOPAT		 0.69 6.44 11.54 4.37 3.11 2.91 0.55 0.86 0.60 1.04 1.39
Net Debt to NOPAT		 -2.29 3.70 7.57 1.30 0.79 1.57 -1.65 -0.29 -0.86 -0.04 -0.81
Long-Term Debt to NOPAT		 0.46 6.16 11.31 4.17 2.95 2.78 0.41 0.71 0.44 0.88 1.21
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -97 -632 -2,169 -696 -540 -42 935 277 222 226 -155
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -29.61 -71.10 -116.33 -22.24 -14.08 -0.93 19.60 5.68 4.41 4.93 -3.58
Operating Cash Flow to Interest Expense		 16.44 3.77 -1.01 2.97 1.26 0.99 0.63 0.65 0.93 1.01 0.92
Operating Cash Flow Less CapEx to Interest Expense		 16.44 3.77 -1.01 2.97 1.26 0.99 0.63 0.65 0.93 1.01 0.92
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 3.11 2.87 2.69 3.25 3.31 2.85 2.70 2.53 2.38 2.26 2.18
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 979 1,551 2,209 1,608 1,555 1,627 1,306 1,356 1,366 1,428 1,485
Invested Capital Turnover		 0.34 0.27 0.34 0.33 0.34 0.27 0.24 0.28 0.28 0.27 0.29
Increase / (Decrease) in Invested Capital		 113 649 2,209 728 576 75 -904 -251 -189 -198 179
Enterprise Value (EV)		 860 1,754 1,914 1,197 1,189 1,588 1,132 1,441 1,489 1,632 1,365
Market Capitalization		 1,056 1,490 1,208 1,060 1,089 1,365 1,352 1,477 1,596 1,637 1,456
Book Value per Share		 $30.57 $29.05 $30.15 $30.42 $30.85 $32.12 $32.39 $32.98 $34.07 $34.33 $34.93
Tangible Book Value per Share		 $23.96 $20.03 $21.16 $20.32 $20.92 $22.26 $22.65 $23.24 $24.41 $24.74 $25.46
Total Capital		 979 1,551 2,209 1,608 1,555 1,627 1,306 1,356 1,366 1,428 1,485
Total Debt		 60 459 1,075 460 391 414 74 109 74 123 155
Total Long-Term Debt		 40 439 1,054 439 371 394 54 89 54 105 135
Net Debt		 -197 264 706 137 100 223 -219 -36 -107 -4.44 -91
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 60 459 1,075 460 391 414 74 109 74 123 155
Total Depreciation and Amortization (D&A)		 3.89 5.66 5.00 5.91 5.98 6.13 5.82 5.36 5.51 6.16 5.85
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.51 $0.41 $1.06 $0.86 $0.95 $0.87 $0.82 $0.68 $0.86 $0.74 $0.63
Adjusted Weighted Average Basic Shares Outstanding		 31.26M 32.36M 37.79M 37.96M 37.99M 37.94M 38.03M 38.21M 38.28M 38.21M 38.07M
Adjusted Diluted Earnings per Share		 $0.50 $0.41 $1.06 $0.85 $0.94 $0.87 $0.82 $0.68 $0.86 $0.72 $0.63
Adjusted Weighted Average Diluted Shares Outstanding		 31.53M 32.68M 38.07M 38.11M 38.13M 38.11M 38.19M 38.37M 38.50M 38.42M 38.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.59M 37.61M 37.71M 37.72M 75.52M 37.79M 37.83M 37.92M 38.01M 38.06M 38.09M
Normalized Net Operating Profit after Tax (NOPAT)		 16 17 40 33 36 33 31 26 33 28 24
Normalized NOPAT Margin		 18.32% 15.31% 36.77% 31.42% 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74%
Pre Tax Income Margin		 22.94% 18.01% 45.97% 39.50% 42.39% 36.85% 38.23% 32.53% 37.61% 34.30% 29.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.05 2.21 2.70 1.31 1.18 0.86 0.82 0.65 0.79 0.76 0.69
NOPAT to Interest Expense		 4.83 1.88 2.16 1.04 0.94 0.73 0.66 0.53 0.66 0.61 0.56
EBIT Less CapEx to Interest Expense		 6.05 2.21 2.70 1.31 1.18 0.86 0.82 0.65 0.79 0.76 0.69
NOPAT Less CapEx to Interest Expense		 4.83 1.88 2.16 1.04 0.94 0.73 0.66 0.53 0.66 0.61 0.56
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 32.27% 42.72% 35.28% 34.07% 30.90% 27.91% 30.36% 32.55% 34.01% 36.14% 39.33%
Augmented Payout Ratio		 32.27% 42.72% 35.28% 34.07% 30.90% 27.91% 30.36% 32.55% 34.01% 36.14% 39.33%

Key Financial Trends

National Bank Holdings Corp (NYSE: NBHC) demonstrates several notable trends across its most recent quarterly financials through Q1 2025 compared to previous quarters over the past two years.

Revenue and Income Trends:

  • Net interest income remains strong and relatively stable, with Q1 2025 showing $86.7 million, slightly down from $90.1 million in Q4 2024 but consistent with prior quarters.
  • Non-interest income in Q1 2025 increased to $15.4 million from $11.1 million in Q4 2024, supported by higher service charges and capital gains.
  • Total revenue has been steady, with Q1 2025 at $102.1 million compared to $101.3 million in Q4 2024, showing resilience amid market fluctuations.
  • Provision for credit losses surged in Q1 2025 to $10.2 million from just $2.0 million in Q4 2024, indicating increased expected credit risks or loan loss reserves.
  • Net income declined from $28.2 million in Q4 2024 to $24.2 million in Q1 2025, partly impacted by higher provisions and expenses.
  • Earnings per share (basic and diluted) declined accordingly from about $0.74 in Q4 2024 to $0.63 in Q1 2025.

Expense Analysis:

  • Total non-interest expenses rose slightly to $62.0 million in Q1 2025 from $64.5 million in Q4 2024, driven by stable salaries, occupancy, and other operating expenses.
  • Marketing and amortization expenses remained steady, indicating controlled operating costs.

Balance Sheet Highlights:

  • Total assets increased moderately to about $10.1 billion in Q1 2025 from approximately $9.97 billion at end of 2024 Q4, showing growth.
  • Loans and leases net of allowance grew slightly to $7.56 billion, supporting interest income.
  • The allowance for loan and lease losses remained well capitalized at around $90 million, reflecting prudent credit management despite higher provisioning.
  • Deposits increased to about $8.42 billion on a combined basis, indicating healthy customer funding and liquidity.
  • Long-term debt remains relatively low at $135 million with manageable interest costs.
  • Total common equity grew modestly to $1.33 billion, supporting capital adequacy.

Cash Flow Observations:

  • Strong positive net cash from operating activities of $39.6 million in Q1 2025, indicating robust core operations cash generation.
  • Significant net cash used in investing activities of $127.5 million, reflecting heavy purchases of investment securities exceeding sales, which might weigh on liquidity if prolonged.
  • Strong net cash inflow from financing activities of $206.3 million, predominantly from deposit growth and selective debt repayment.
  • Overall, cash and equivalents rose by $118.5 million in Q1 2025, signaling improved liquidity.

Summary:

National Bank Holdings Corp has maintained steady interest income and revenue generation while showing solid asset growth and capital position. However, the recent spike in credit loss provisions in Q1 2025 is a cautionary sign about asset quality trends. Operating expenses remain well-controlled, and cash flow from operations is strong, though the large investment outflows warrant attention. Earnings and EPS have dropped slightly in Q1 2025 compared to the previous quarter, primarily due to provisions for credit losses.

For investors, NBHC shows resilience and a strong balance sheet but monitoring credit loss trends and investment securities management will be key for assessing future profitability and risk.

08/08/25 07:27 PMAI Generated. May Contain Errors.

Frequently Asked Questions About National Bank's Financials

When does National Bank's fiscal year end?

According to the most recent income statement we have on file, National Bank's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has National Bank's net income changed over the last 10 years?

National Bank's net income appears to be on an upward trend, with a most recent value of $118.82 million in 2024, rising from $9.18 million in 2014. The previous period was $142.05 million in 2023. Find out what analysts predict for National Bank in the coming months.

How has National Bank's revenue changed over the last 10 years?

Over the last 10 years, National Bank's total revenue changed from $168.55 million in 2014 to $406.62 million in 2024, a change of 141.2%.

How much debt does National Bank have?

National Bank's total liabilities were at $8.50 billion at the end of 2024, a 2.7% decrease from 2023, and a 111.2% increase since 2014.

How much cash does National Bank have?

In the past 10 years, National Bank's cash and equivalents has ranged from $109.06 million in 2018 to $845.20 million in 2021, and is currently $127.85 million as of their latest financial filing in 2024.

How has National Bank's book value per share changed over the last 10 years?

Over the last 10 years, National Bank's book value per share changed from 19.97 in 2014 to 34.33 in 2024, a change of 71.9%.


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This page (NYSE:NBHC) was last updated on 8/8/2025 by MarketBeat.com Staff
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