NATIONAL AUSTRALIA BANK LIMITED (NAB)
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NAB - NATIONAL AUSTRALIA BANK LIMITED

FNArena Sector : Banks
Year End: September
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

National Australia Bank is the third largest Australian bank by market capitalisation. First listed in 1974 it became the NAB in 1982 with the merger of National Bank of Australasia and the Commercial Banking Company of Sydney.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$28.40

30 Nov
2023

0.300

OPEN

$28.20

1.07%

HIGH

$28.43

8,072,478

LOW

$28.16

TARGET
$27.767 -2.2% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABA . AFG . ANZ . BEN . BOQ . CBA . HLI . MYS . RMC . SUN . VUK . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
NAB: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 236.4 219.3 xxx
DPS (cps) xxx 167.0 165.7 xxx
EPS Growth xxx 10.4% - 7.2% xxx
DPS Growth xxx 10.6% - 0.8% xxx
PE Ratio xxx N/A 13.0 xxx
Dividend Yield xxx N/A 5.8% xxx
Div Pay Ratio(%) xxx 70.6% 75.5% xxx

Dividend yield today if purchased 3 years ago: 7.26%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.87

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

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

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx236.4
DPS All xxxxxxxxxxxxxxx167.0
Sales/Revenue xxxxxxxxxxxxxxx51,699.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,959.5
Net Operating Cash Flow xxxxxxxxxxxxxxx-26,699.0 M
Net Profit Margin xxxxxxxxxxxxxxx14.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx12.42 %
Return on Invested Capital xxxxxxxxxxxxxxx3.26 %
Return on Assets xxxxxxxxxxxxxxx0.71 %
Return on Equity xxxxxxxxxxxxxxx12.42 %
Return on Total Capital xxxxxxxxxxxxxxx3.02 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-32,230.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx113,799 M
Long Term Debt xxxxxxxxxxxxxxx175,467 M
Total Debt xxxxxxxxxxxxxxx289,266 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,891 M
Price To Book Value xxxxxxxxxxxxxxx1.48

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

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

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

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

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

10/11/2023

3

Neutral

$27.50

-3.17%

Following the release of National Australia Bank's full year result, Citi is seeing little to justify what it is a relatively fully valued stock. The broker believes the bank faces a more difficult revenue equation than peers based on the result.

A cash earnings result of $7,731m was a -2.5% miss to the broker's expectations, primarily from a miss on lower markets income. There was little to suggest improvements ahead, with the bank suggesting net interest margins would continue to face competitive pressure.

The Neutral rating and target price of $27.50 are retained.

FORECAST
Citi forecasts a full year FY24 dividend of 171.00 cents and EPS of 232.40 cents.
Citi forecasts a full year FY25 dividend of 173.00 cents and EPS of 237.20 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

NAB STOCK CHART

FNArena News on NAB

1
Australian Banks Post FY23 Results: Same, Same

Nov 30 2023 - Feature Stories
2
Rudi’s View: All-Weather Portfolio In 2023

Nov 29 2023 - Rudi's View
3
Rudi’s View: Quality In Stocks; What Is It Good For?

Nov 22 2023 - Rudi's View
4
Australian Broker Call *Extra* Edition – Nov 21, 2023

Nov 21 2023 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Nov 20, 2023

Nov 20 2023 - Daily Market Reports

Latest Banks News

1
Australian Banks Post FY23 Results: Same, Same

Nov 30 2023 - Feature Stories
2
Costs Continue To Drag On Westpac

Nov 07 2023 - Australia
3
In Brief: House Prices; Mortgage Stress, Banks

Nov 03 2023 - Weekly Reports
4
Australian Banks: Choppy And Messy

Sep 28 2023 - Technicals
5
Post August Reflections

Sep 05 2023 - Australia
6
Banks: Topping Out?

Jul 25 2023 - Technicals
7
Australian Banks: Future Not Bright

May 17 2023 - Feature Stories
8
Judo Capital Offers Differentation

May 11 2023 - Small Caps
9
Bank Of Queensland Disappoints

Apr 17 2023 - Australia
10
Australian Banks: Clouds On The Horizon

Apr 14 2023 - Feature Stories