National Bank of Canada has reported impressive third-quarter earnings, exceeding analyst expectations and showcasing robust growth across key segments.
Recent earnings trend
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National Bank of Canada
NA.TO
Market cap
$82.10B
P/E
18.4x
52W high
$237.13
52W low
$138.59
Beta
1.19
Analyst Price Targets
Based on analyst covering NA
Consensus
No RatingAvg. Target
C$222.92
Current Price
—
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
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Analyst coverage: 7 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-07-31 | 2026-08-26 | 3.3900 | 3.2100 | +5.6% |
| 2026-04-30 | 2026-05-27 | 3.2300 | 3.1300 | +3.2% |
| 2026-01-31 | 2026-02-25 | 3.2500 | 2.9900 | +8.7% |
| 2025-10-31 | 2025-12-03 | 2.8200 | 2.6200 | +7.6% |
| 2025-07-31 | 2025-08-27 | 2.6800 | 2.7100 | -1.1% |
| 2025-04-30 | 2025-05-28 | 2.8500 | 2.4000 | +18.8% |
In its recent earnings announcement, National Bank of Canada (NA.TO) reported an adjusted earnings per share (EPS) of CAD 3.39 for the third quarter of fiscal 2026, beating estimates by 5.6%. This marks a significant 26% increase year-over-year, reflecting strong performance across its business segments and favorable market conditions.
Investor takeaway: For Canadian investors, National Bank's consistent earnings growth and solid balance sheet position it well in the competitive banking landscape, although challenges in net interest margins and economic uncertainties warrant close monitoring.
EPS Surges 26% to CAD 3.39
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National Bank's impressive earnings growth is supported by a strong balance sheet, with loans and deposits both increasing by 11% year-over-year.
Bull case
The bank's revenue grew by 18% year-over-year, driven by strong performance in wealth management and capital markets. Its CET1 capital ratio stands at 13.51%, showing resilience and the ability to grow in the future.
Bear case
However, there are challenges to consider. Declining net interest margins due to competitive pressures, rising expenses, and economic uncertainties from trade conflicts could impact future performance.
Earnings Overview
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Segment Performance
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Financial Metrics
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