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National Australia Bank Limited
(Sydney:NAB)
National Australia Bank Limited (NAB) vs. iShares MSCI Australia ETF (EWA)
National Australia Bank Limited Business Overview & Revenue Model
National Australia Bank Limited Earnings Call Summary
National Australia Bank Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.45B | 60.25B | 62.16B | 51.90B | 25.87B | 20.92B |
| Gross Profit | 4.97B | 0.00 | 19.88B | 19.81B | 18.20B | 16.88B |
| EBITDA | 9.76B | 9.80B | 11.19B | 11.67B | 10.86B | 10.11B |
| Net Income | 5.06B | 6.76B | 6.96B | 7.41B | 6.89B | 6.36B |
Balance Sheet | ||||||
| Total Assets | 1.11T | 1.11T | 1.08T | 1.06T | 1.06T | 926.19B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 0.00 | 112.94B | 2.89B | 2.67B | 26.96B |
| Total Debt | 289.67B | 289.67B | 281.87B | 289.27B | 290.64B | 276.41B |
| Total Liabilities | 1.05T | 1.05T | 1.02T | 997.69B | 996.22B | 863.41B |
| Stockholders Equity | 62.92B | 62.92B | 61.45B | 61.15B | 59.03B | 62.78B |
Cash Flow | ||||||
| Free Cash Flow | 8.37B | 7.10B | -37.22B | -27.89B | 27.14B | -99.00M |
| Operating Cash Flow | 9.51B | 8.51B | -35.78B | -26.70B | 28.22B | 759.00M |
| Investing Cash Flow | -4.34B | -5.71B | 4.69B | -4.21B | -8.70B | -3.69B |
| Financing Cash Flow | 2.72B | 2.72B | 9.92B | 6.98B | 6.01B | -22.05B |
National Australia Bank Limited Technical Analysis
National Australia Bank Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$109.56B | 18.37 | 7.92% | 4.53% | 5.21% | -9.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$251.37B | 24.85 | 13.34% | 3.00% | 6.39% | 7.78% | |
61 Neutral | AU$19.86B | 21.50 | 29.52% | 2.69% | 6.44% | 22.38% | |
61 Neutral | AU$132.78B | 19.25 | 9.08% | 3.90% | 1.57% | 0.13% | |
58 Neutral | AU$131.14B | 19.40 | 10.36% | 4.00% | -4.56% | -1.63% | |
56 Neutral | $77.80B | 21.44 | 10.30% | 3.27% | 3.65% | 1.58% |
National Australia Bank Limited Corporate Events
National Australia Bank Limited has notified the Australian Securities Exchange of the aggregated percentage of its own voting shares over which its associated entities have the power to control voting or disposal, as required under an exemption granted by the Australian Securities and Investments Commission. As at 30 December 2025, NAB had 3,067,522,775 ordinary shares on issue, with its controlled entities collectively able to control voting or disposal of 583,819 ordinary shares, representing 0.0190% of the class, down from 0.0208% reported in October 2025, and with no additional net economic exposure to its own shares. The holdings are primarily managed through JBWere Limited, Bank of New Zealand and CPU Share Plans Pty Limited in their capacities as investment managers or trustees, indicating that NAB’s indirect exposure to its own equity remains small and largely custodial in nature, with minimal implications for control or capital structure.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank has notified the market that 176,949 NABAM performance rights have lapsed after the conditions attached to those rights were not met or became incapable of being satisfied as of 22 December 2025. The cessation of these conditional securities effectively reduces the pool of potential shares that could be issued under the affected incentive arrangements, providing clarity on NAB’s issued capital structure and signalling that specific performance or service hurdles tied to this tranche of rights were not achieved.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has applied to the ASX for quotation of 530,840 fully paid ordinary shares, with the securities previously issued under an employee incentive scheme and now having their transfer restrictions ceased or about to cease. The additional quoted shares modestly increase NAB’s free float and reflect the bank’s ongoing use of equity-based remuneration, aligning employees’ interests with shareholders and incrementally expanding the stock available for trading on the market.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank has disclosed changes to the equity interests of executive Andrew Francis Irvine, detailing new grants and vesting of incentive securities as well as the lapse of a portion of his long-term variable rights. Irvine received additional Variable Reward Rights, Long-Term Equity Awards and Long-Term Variable Rights under NAB’s 2025 variable reward and 2026 long-term incentive plans following shareholder approval at the December 2025 annual general meeting, while a significant tranche of his 2022 long-term variable reward vested and a smaller portion lapsed. The updated holdings, which now include higher balances of deferred rights and ordinary shares held via custodian structures, underscore NAB’s continued use of equity-based, performance-linked remuneration to align senior executive incentives with shareholder outcomes and long-term bank performance.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has applied to the ASX for quotation of 2,492,875 new fully paid ordinary shares, which were issued on 16 December 2025 under an employee incentive scheme. The additional quoted securities modestly expand NAB’s listed share base and reflect the bank’s continued use of equity-based remuneration to attract and retain staff, aligning employee interests with shareholders and reinforcing long-term performance incentives within the organisation.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank has notified the market of the issue of unquoted performance rights under its employee incentive scheme, covering a total of 701,318 NABAM performance rights issued on 16 and 17 December 2025. These equity-based awards, which are subject to transfer restrictions and will not be quoted on the ASX until those restrictions end, reinforce NAB’s use of long-term, performance-linked remuneration to align employee incentives with shareholder interests and the bank’s longer-term strategic objectives.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$32.56 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced a new distribution for its NAB Capital Notes 5, with a distribution amount of AUD 1.2475 per note, fully franked, to be paid on March 17, 2026. The distribution rate for the period is 5.0593% per annum, calculated based on a 3-month Bank Bill Rate plus a margin, adjusted for tax. This announcement reflects NAB’s ongoing commitment to providing returns to its investors and maintaining its position in the financial services sector.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced a new distribution for its NAB Capital Notes 6, with a fully franked cash amount of AUD 1.1871 per note, payable on March 17, 2026. The distribution rate for the period from December 17, 2025, to March 17, 2026, is set at 4.8143% per annum, reflecting a combination of the 3-month Bank Bill Rate and an additional margin. This announcement highlights NAB’s ongoing efforts to provide returns to its stakeholders and maintain its position in the financial market.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited announced a new distribution for its Capital Notes 3, with a distribution rate of 5.4093% per annum for the period from December 17, 2025, to March 17, 2026. This translates to a cash amount of AUD 1.3338 per note, fully franked, payable on March 17, 2026. The announcement highlights the bank’s ongoing commitment to providing returns to its investors, potentially strengthening its market position and stakeholder confidence.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the issuance of JPY 18 billion in fixed reset subordinated notes due in December 2040 under its global medium-term note program. These notes are designed to convert into ordinary shares if the bank faces non-viability, thereby potentially increasing shareholder equity. The issuance is not expected to materially impact the bank’s financial position but provides a mechanism for maintaining regulatory capital requirements, ensuring stability and confidence among stakeholders.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the application for quotation of 483,117 ordinary fully paid securities on the Australian Securities Exchange, issued under a dividend or distribution plan. This move is part of the bank’s ongoing efforts to enhance its capital structure and provide value to its shareholders, potentially impacting its market positioning positively by increasing liquidity and investor confidence.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
The 2025 Annual General Meeting of National Australia Bank resulted in the re-election of directors Mr. Philip Chronican and Ms. Kathryn Fagg AC, along with the approval of the remuneration report and grants of deferred and performance rights to the Group Chief Executive Officer. However, shareholder-proposed resolutions regarding amendments to the company’s constitution and strategies related to financed deforestation were not passed or withdrawn, indicating a focus on maintaining current governance and strategic directions.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
At the 2025 Annual General Meeting, NAB’s Chair, Philip Chronican, highlighted the progress made under the bank’s refreshed strategy, emphasizing improvements in customer service and risk management. The bank has finalized an Enforceable Undertaking with AUSTRAC and is addressing payroll issues, demonstrating its commitment to governance and accountability. NAB aims to maintain strong relationships with regulators and continue enhancing its operations to better serve customers and stakeholders.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited (NAB) has announced that it will release its first quarter trading update for the 2026 financial year on February 18, 2026. This announcement is part of NAB’s regular financial reporting schedule and will provide insights into the company’s financial performance and strategic direction for stakeholders.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the application for the quotation of 582,560 ordinary fully paid securities on the Australian Securities Exchange (ASX). These securities are issued under an employee incentive scheme and are not subject to transfer restrictions, which may enhance liquidity and employee engagement within the company.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has updated its previous announcement regarding dividend distribution for its ordinary fully paid securities. The update includes changes to the Dividend Reinvestment Plan (DRP) price and additional information, impacting shareholders and investors by providing clarity on the distribution details for the period ending September 30, 2025.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the issuance of 354,027 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme, reflecting NAB’s commitment to enhancing employee engagement and aligning their interests with the company’s performance. The issuance is expected to have implications for the company’s market positioning by potentially increasing its market capitalization and demonstrating its focus on strategic growth and employee retention.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited announced the cessation of 3,294 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may impact the company’s operational strategies and could have implications for stakeholders, reflecting on NAB’s management of performance-based securities and its approach to meeting conditional requirements.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced a change in the director’s interest, specifically concerning Andrew Francis Irvine. The change involved the vesting of 25,092 Variable Rewards Rights (VRD) following the satisfaction of vesting conditions and the forfeiture of 651 VRD. This adjustment in director’s securities holdings reflects the bank’s ongoing management of executive compensation and incentives, which could influence stakeholder perceptions of executive alignment with company performance.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited announced the withdrawal of a shareholder-requisitioned resolution related to its Customer Transition Plan Approach and Climate Commitments from the agenda of its 2025 Annual General Meeting. The resolution was withdrawn after the release of NAB’s Climate Report, which addressed the concerns raised by the shareholders, indicating substantial progress in the company’s climate-related disclosures. This development reflects NAB’s responsiveness to shareholder concerns and its commitment to enhancing its climate strategy, which may positively impact its reputation and stakeholder relations.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the application for quotation of 46,968 ordinary fully paid securities on the Australian Securities Exchange (ASX). These securities are issued under an employee incentive scheme and are not subject to transfer restrictions, indicating a move to enhance employee engagement and potentially improve stakeholder value.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited announced an update to its previous dividend distribution notification, specifically regarding currency information. This update pertains to the dividend distribution for the six-month period ending September 30, 2025, with key dates including a record date of November 12, 2025, and an ex-date of November 11, 2025. The update is significant for shareholders as it provides clarity on the currency aspects of the dividend, potentially impacting their financial planning and investment decisions.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced the issuance of A$1.75 billion in subordinated medium-term notes as part of its domestic Debt Issuance Programme. The notes, which are due in November 2035, include both fixed-to-floating rate and floating rate options and are convertible into ordinary shares if deemed necessary by the Australian Prudential Regulation Authority. This move is designed to bolster the bank’s capital structure without materially impacting its financial position, providing flexibility and resilience in its operations.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced its financial calendar for 2026, detailing key dates for its half-year and full-year results announcements, interim and final dividend payments, and its Annual General Meeting. These announcements are crucial for shareholders and stakeholders as they outline the bank’s financial performance schedule and dividend distribution plans, impacting investment decisions and market expectations.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank announced its 2025 full-year financial results, reporting cash earnings of $7,091 million and a statutory net profit of $6,759 million for the six months ending September 30, 2025. The bank declared a final dividend of 85 cents per share, fully franked at a 30% tax rate, payable on December 12, 2025. NAB is also enhancing its efforts to protect customers from scams by investing in advanced technology and collaborating with industry partners.
The most recent analyst rating on (AU:NAB) stock is a Hold with a A$37.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has released its 2025 Full Year Pillar 3 Report, complying with the Australian Prudential Regulation Authority’s disclosure requirements. This report provides insights into NAB’s financial health and risk management practices, which are crucial for stakeholders to assess the bank’s stability and regulatory compliance.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has released its corporate governance statement for the financial year ending 30 September 2025, which has been approved by the board. The statement outlines the extent to which the bank has adhered to the ASX Corporate Governance Council’s recommendations, ensuring transparency and accountability in its operations. This disclosure is part of the bank’s commitment to robust governance practices, which are crucial for maintaining investor confidence and regulatory compliance.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced its 2025 Annual General Meeting (AGM), scheduled for December 12, 2025, which will be held both in-person in Melbourne and online. The hybrid format allows shareholders to participate and vote either physically or virtually, ensuring broad accessibility and engagement. Key dates for proxy nominations and pre-AGM voting are set for December 10, 2025. The AGM will address shareholder questions and discuss key themes, reflecting NAB’s commitment to transparency and stakeholder engagement.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has released details regarding the voting process for its 2025 Annual General Meeting (AGM), scheduled for December 12, 2025. The announcement outlines the procedures for shareholders to cast their votes either directly or by appointing a proxy. Key items on the agenda include the re-election of directors, approval of the remuneration report, and resolutions related to the company’s constitution and environmental strategies. The release emphasizes the importance of shareholder participation in the decision-making process.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced its Annual General Meeting (AGM) for 2025, scheduled for December 12, at the Melbourne Convention and Exhibition Centre and online. This meeting is significant for shareholders as it provides an opportunity to engage with the company’s leadership and discuss future strategies, reflecting NAB’s commitment to transparency and stakeholder engagement.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced a new dividend distribution for its ordinary fully paid shares, with a payment of AUD 0.85 per share. The dividend relates to the six-month period ending September 30, 2025, and will be paid on December 12, 2025. This announcement reflects the bank’s ongoing commitment to delivering value to its shareholders and may impact its market positioning by reinforcing investor confidence.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
NAB’s 2025 Full Year Results presentation highlights the company’s financial performance, emphasizing digital transformation, technology, and innovation as key areas of focus. The announcement underscores NAB’s commitment to enhancing its operations and market positioning, with implications for improved asset quality, sustainability, and economic resilience.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has released its full-year results for 2025, acknowledging the Traditional Owners and Custodians of the lands and waters across Australia. The bank emphasizes its commitment to supporting First Nations leaders, businesses, and communities, aiming to create lasting opportunities and strengthen intergenerational wealth.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has released its 2025 Annual Report, detailing its performance and strategic initiatives. The report, lodged with the Australian Securities and Investments Commission and ASX Limited, highlights NAB’s commitment to value creation through its operating environment and governance. It also aligns with various corporate governance principles and accounting standards, providing insights into the company’s financial and non-financial activities.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited reported a 1% increase in underlying profit for FY25, driven by volume growth and higher income from Markets & Treasury. The bank’s strategic focus on business banking, deposit growth, and home lending has shown positive results, with a 7% rise in deposit balances and a 9% increase in business lending. Despite a slight decline in statutory net profit, NAB is optimistic about its long-term strategy and sustainable growth. The bank is also committed to enhancing customer experiences and supporting Australia’s transition to a low-carbon economy, with significant investments in environmental finance and affordable housing.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited announced its financial results for the year ending September 30, 2025, reporting a 1.2% increase in revenue from ordinary activities to $20,872 million. However, the net profit after tax attributable to the company’s owners decreased by 2.9% to $6,759 million. The bank declared a final dividend of 85 cents per share, fully franked, with the dividend reinvestment plan available to shareholders. The report highlights a stable net tangible asset per share, indicating consistent asset management despite the dip in net profit.
The most recent analyst rating on (AU:NAB) stock is a Buy with a A$42.50 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.
National Australia Bank Limited has announced changes to its financial reporting that will affect the presentation of its income statement and divisional financial information for the fiscal year 2025. These changes, which do not impact the bank’s cash earnings or net profit, include the reclassification of customer portfolios between divisions to better meet service needs, adjustments to the presentation of volume-related fees and commissions, and refined treatment of revenue from customer loans and deposits in New Zealand. The adjustments aim to align with industry practices and provide clearer financial disclosures, with implications for how income and expenses are reported across different divisions.
The most recent analyst rating on (AU:NAB) stock is a Sell with a A$31.23 price target. To see the full list of analyst forecasts on National Australia Bank Limited stock, see the AU:NAB Stock Forecast page.