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.
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 |
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 |
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 |
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 |
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 |
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 |
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 |
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) has demonstrated overall financial stability and growth across recent quarters, supported by consistent earnings and strengthening balance sheet metrics.
Income and Earnings Trends:
- Net interest income remained strong and stable in Q1 2025 at $86.7 million, with loans and leases interest income constituting the major portion ($120.2 million).
- Total revenue in Q1 2025 slightly increased to $102.1 million, driven by a rise in non-interest income, including other service charges and capital gains.
- Net income attributable to common shareholders in Q1 2025 was $24.2 million, a solid profit despite a slight decrease from the prior year's Q1 level.
- Basic and diluted earnings per share remained stable at $0.63 in Q1 2025, with a modest increase in basic dividends per share to $0.29.
- Provision for credit losses increased notably to $10.2 million in Q1 2025, reflecting potential credit risk concerns compared to prior quarters where it was significantly lower or zero.
- Non-interest expenses were well controlled at $62.0 million in Q1 2025, which is in line with historical trends covering salaries, occupancy, and other operating costs.
Cash Flows and Capital:
- Net cash provided by operating activities in Q1 2025 was strong at $39.6 million, reflecting healthy core business operations and adjustments for loan loss provisions.
- Investing activities indicated a net cash outflow of $127.5 million in Q1 2025, primarily due to significant purchases of investment securities, signaling active asset deployment.
- Financing activities generated net inflows of $206.3 million in Q1 2025, largely due to a notable increase in deposits and repayment of debt, supporting liquidity.
- The company’s total cash and due from banks position remained strong at approximately $246.3 million as of Q1 2025, supporting liquidity needs.
Balance Sheet Highlights:
- Total assets increased slightly to about $10.1 billion by Q1 2025, with loans and leases net of allowance growing and standing at $7.56 billion.
- Allowance for loan and lease losses was $90.2 million in Q1 2025, reflecting proactive risk management relative to the loan portfolio size.
- Customer deposits exhibited a strong base, with total deposits exceeding $8.4 billion (combining interest bearing and non-interest bearing) as of Q1 2025, up from previous periods.
- Common equity increased to roughly $1.33 billion in Q1 2025 from around $1.23 billion in early 2024, underpinning capitalization and shareholder value.
- Long-term debt decreased compared to prior periods to about $134.6 million in Q1 2025, possibly reducing interest burden but requiring monitoring for refinancing needs.
- Accumulated other comprehensive income was negative (-$60 million), similar to prior periods, representing market valuation impacts on securities and other comprehensive items.
Summary: National Bank Holdings has maintained consistent profitability and revenue generation over the last several quarters, supported by a stable net interest margin and diversified non-interest income. The company efficiently manages expenses and maintains a strong capital base. However, rising provisions for credit losses in early 2025 suggest cautiousness towards asset quality amid evolving economic conditions. Active investing and financing activities underline strategic balance sheet management. Overall, National Bank appears financially solid with room for earnings resilience and growth, but investors should monitor credit risk trends closely.
08/30/25 12:18 AM ETAI Generated. May Contain Errors.