NA-PE.TO

Financial Services

National Bank of Canada · Banks - Diversified · $28B

UQS Score — Balanced Preset
41.5
Below Average

National Bank of Canada scores 41.5/100 using the Balanced preset.

UQS vs Financial Services Sector
NA-PE.TO
41.5
Sector avg
39.7
Quality
Neutral
Moat
Weak
Growth
Neutral
Risk
Weak
Valuation
Attractive

What is National Bank of Canada?

National Bank of Canada is one of Canada's major chartered banks, serving retail, commercial, corporate, and institutional clients across Canada and select international markets. Headquartered in Montreal, it operates across four distinct business segments.

The bank generates revenue through personal and commercial banking, wealth management, capital markets activity, and a specialty finance and international segment. Personal banking covers everyday accounts, mortgages, consumer loans, and insurance. Wealth management delivers investment and trust services to individuals and institutions. The Financial Markets segment handles corporate advisory, debt and equity underwriting, and mergers and acquisitions. A fourth segment extends specialty finance into the United States and provides banking services in international markets including Cambodia.

National Bank of Canada is headquartered in Montreal, Canada.

  • Personal banking: mortgages, consumer loans, and payment solutions
  • Wealth management and investment solutions
  • Capital markets advisory and underwriting services
  • Commercial banking and cash management
  • U.S. specialty finance and international financial services

Is NA-PE.TO a Good Stock to Buy?

UQS Score rates NA-PE.TO as Below Average overall.

Among the five pillars, Valuation stands out as Attractive, suggesting the market may not be fully pricing in the bank's earnings potential relative to peers. Quality and Growth both register as Neutral, indicating the bank maintains adequate fundamentals without meaningfully outpacing the sector.

The Moat and Risk pillars both score Weak, pointing to limited competitive differentiation and above-average risk exposure relative to other large-cap financial institutions.

Pro members can view the complete pillar breakdown and underlying financial metrics to form a fuller picture. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does NA-PE.TO pay dividends?

Yes — National Bank of Canada pays a dividend.

National Bank of Canada pays a regular dividend, consistent with the income-oriented tradition of major Canadian chartered banks. Canadian banks have historically maintained steady dividend programs, and National Bank follows this pattern. Investors seeking income exposure to the Canadian financial sector often consider dividend-paying banks like this one as a core holding.

When does NA-PE.TO report earnings?

National Bank of Canada reports earnings on a quarterly cadence, as is standard for publicly listed Canadian banks.

The bank's Quality and Growth pillars both land at Neutral, suggesting earnings have been broadly in line with sector expectations without notable upside surprises. Revenue contributions from wealth management and financial markets can introduce variability quarter to quarter.

For the most recent quarterly results and upcoming reporting dates, visit National Bank of Canada's investor relations page directly.

NA-PE.TO Price History

+36.4% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in National Bank of Canada?

CAD
Today it would be worth
CAD 14,393
That's a +43.9% total return, or +7.6% annualized.

Based on National Bank of Canada's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

NA-PE.TO Long-term Outlook

With Growth rated Neutral and Risk rated Weak, the fundamental outlook for NA-PE.TO reflects a bank operating in a competitive domestic market without a clear near-term catalyst for above-average expansion. The Attractive Valuation label suggests downside may be partially cushioned, but the Weak Moat rating raises questions about the bank's ability to defend margins if competitive or credit-cycle pressures intensify.

Growth drivers

  • Expansion of wealth management assets under administration
  • Specialty finance and international segment diversification
  • Continued demand for commercial banking and capital markets services in Canada

Key risks

  • Weak competitive moat relative to Canada's largest chartered banks
  • Credit cycle sensitivity given the Weak Risk pillar rating
  • Valuation re-rating risk if macro conditions deteriorate

NA-PE.TO vs Peers

National Bank of Canada operates alongside a range of financial institutions across domestic and international markets.

NA-PC.TOSimilar UQS
National Bank of Canada

A related preferred share series from the same issuer, reflecting a different capital structure instrument rather than a competing business.

NWGSimilar UQS
NatWest Group plc

A major UK-based retail and commercial bank, offering a geographic contrast to National Bank's primarily Canadian and specialty international footprint.

EWBCNA-PE.TO scores lower
East West Bancorp, Inc.

A US-based commercial bank with a focus on bridging North American and Asian markets, competing in some specialty finance and cross-border banking niches.

Frequently Asked Questions

What does National Bank of Canada do?

National Bank of Canada provides banking and financial services across four segments: personal and commercial banking, wealth management, financial markets, and U.S. specialty finance and international operations. It serves individuals, businesses, corporations, and institutional clients primarily in Canada, with select international exposure.

Does NA-PE.TO pay dividends?

Yes, National Bank of Canada pays a regular dividend. Canadian chartered banks have a long tradition of maintaining dividend programs, and National Bank follows that practice. Income-focused investors often look to Canadian bank dividends as a relatively consistent source of yield within the financial sector.

When does NA-PE.TO report earnings?

National Bank of Canada reports on a quarterly cadence, standard for Canadian-listed banks. Our data source does not cover specific upcoming earnings dates. For confirmed reporting dates, check the company's investor relations page or your brokerage's earnings calendar.

Is NA-PE.TO a good stock to buy?

UQS Score rates NA-PE.TO as Below Average overall. The Valuation pillar is Attractive, which may appeal to value-oriented investors, but the Weak Moat and Weak Risk ratings temper the overall picture. Whether it fits your portfolio depends on your risk tolerance and investment objectives.

Is NA-PE.TO overvalued?

Based on the UQS Valuation pillar, NA-PE.TO is rated Attractive, suggesting it does not appear overvalued relative to its fundamentals at current levels. However, Valuation alone does not determine investment suitability — the Weak Moat and Risk ratings are important context.

How does NA-PE.TO compare to its competitors?

Compared to peers like NatWest Group and East West Bancorp, National Bank of Canada occupies a distinct niche as a mid-sized Canadian chartered bank with international specialty finance exposure. Its UQS profile — Attractive Valuation but Weak Moat and Risk — differentiates it from larger, more entrenched global banking franchises.

What is NA-PE.TO's market cap bracket?

NA-PE.TO is classified as a large-cap stock. This places it among the larger publicly traded financial institutions in Canada, though it remains smaller than the country's biggest chartered banks by total assets and market capitalization.

Who founded National Bank of Canada?

National Bank of Canada has roots tracing back to the nineteenth century through predecessor institutions in Quebec. The modern consolidated entity emerged through a series of mergers over many decades. Detailed founding history is widely available through the bank's official corporate history resources.

Is NA-PE.TO a long-term quality indicator?

From a UQS perspective, the Below Average overall score — driven by Weak Moat and Weak Risk ratings — suggests the bank does not currently rank among the higher-quality names in the financial sector on a long-term quality basis. The Neutral Quality and Growth pillars indicate adequate but not standout fundamentals.

What is the main competitive advantage of National Bank of Canada?

National Bank's primary competitive strengths lie in its established presence in Quebec, its diversified revenue mix across personal banking, wealth management, and capital markets, and its specialty finance international segment. However, the UQS Moat pillar rates this competitive positioning as Weak relative to sector peers.

What sector does NA-PE.TO belong to?

NA-PE.TO belongs to the Financial Services sector. More specifically, it operates as a diversified bank, generating revenue from retail and commercial banking, wealth management, and capital markets activities across Canada and select international markets.

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Pro Analysis

NA-PE.TO — Score History

303540455055Apr 11Apr 19Apr 27May 5May 13May 21May 24v5
Score changes· 6 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 22, 202641.544.428.053.64.480.0+0.1
May 12, 202641.444.428.053.24.480.0+3.5
May 8, 202637.920.828.053.20.0100.0-3.5
Apr 18, 202641.444.428.053.24.480.0-3.0
Apr 12, 202644.444.428.053.24.4100.0-5.5
Apr 11, 202649.944.450.053.24.4100.0

NA-PE.TO — Pillar Breakdown

Quality

44.4/100 (25%)

National Bank of Canada has average quality metrics, with room for improvement in margins or capital efficiency.

Return on EquityModerate

Profitability relative to shareholders' equity.

Operating ProfitabilityModerate

Ability to convert revenue into operating profit.

Net ProfitabilityModerate

Bottom-line profit as a share of revenue.

Cash GenerationWeak

Free cash flow relative to market value.

Growth

53.6/100 (20%)

National Bank of Canada shows steady but unspectacular growth, typical for mature companies.

Recent Revenue TrendStrong

Revenue trajectory over the last twelve months.

3Y Revenue CAGRStrong

Compound annual revenue growth rate over 3 years.

EPS GrowthWeak

Year-over-year earnings per share growth.

Forward Revenue OutlookWeak

Analyst consensus for future revenue growth.

Forward EPS GrowthStrong

Analyst consensus for future earnings growth.

Risk

4.4/100 (15%)

National Bank of Canada presents elevated risk with concerns around leverage or financial stability.

Debt/EquityWeak

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

80.0/100 (15%)

National Bank of Canada appears attractively valued relative to its earnings, cash flows, and sector peers.

Earnings YieldStrong

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowStrong

How many years of FCF the market cap represents.

PEG RatioStrong

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorWeak

Enterprise value multiple relative to sector median.

Moat

28/100 (25%)

National Bank of Canada operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NA-PE.TO.

Score Composition

Quality
44.4×25%11.1
Growth
53.6×20%10.7
Risk
4.4×15%0.7
Valuation
80.0×15%12.0
Moat
28.0×25%7.0
Total
41.5Below Average

Financial Data

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How is the NA-PE.TO UQS Score Calculated?

The UQS (Unified Quality Score) for National Bank of Canada is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses National Bank of Canada's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether National Bank of Canada is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.