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National Bank of Canada
NA.TOFinancial ServicesTSXCA
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Estimates, scoring, valuation assumptions, and peer comparison in one research surface.
Change the assumptions to see how revenue growth, margins, and exit multiples can move fair value.
| Year | Revenue | Margin | Profit | Free cash flow | Present value |
|---|---|---|---|---|---|
| 2026 | $30.80B | 13.0% | $4.00B | $4.13B | N/A |
| 2027 | $33.66B | 13.0% | $4.38B | $4.51B | $4.10B |
| 2028 | $36.79B | 13.0% | $4.78B | $4.93B | $4.07B |
| 2029 | $40.21B | 13.0% | $5.23B | $5.39B | $4.05B |
| 2030 | $43.95B | 13.0% | $5.71B | $5.89B | $4.02B |
| 2031 | $48.04B | 13.0% | $6.25B | $6.44B | $4.00B |
Projects EPS forward, applies an exit P/E, then discounts the result back to today.
| Base EPS | CA$10.07 | 2025-10-31 |
| EPS growth | -5.6% | Forecast years: 5 |
| Future EPS | CA$7.549 | EPS × (1 + G)^5 |
| Base P/E | 14.8 | P/E |
| Future price | CA$111.73 | Future EPS × P/E |
| Fair value today | CA$69.373 | PV @ 10.0% |
| 30% safety price | CA$48.561 | Margin of safety |
| 50% safety price | CA$34.686 | Margin of safety |
| Discount rate \\ Terminal growth | 1.5% | 2.5% | 3.5% |
|---|---|---|---|
| 9.0% | -CA$135.142 | -CA$102.912 | -CA$58.961 |
| 10.0% | -CA$167.711 | -CA$143.948 | -CA$112.874 |
| 11.0% | -CA$193.385 | -CA$175.292 | -CA$152.375 |