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A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for National Australia Bank's Debt-to-Equity or its related term are showing as below:
ASX:NAB'
s Debt-to-Equity Range Over the Past 10 Years
Min: 1.87 Med: 3.08 Max: 3.77
Current: 3.5
During the past 13 years, the highest Debt-to-Equity Ratio of National Australia Bank was 3.77. The lowest was 1.87. And the median was 3.08.
ASX:NAB's Debt-to-Equity is ranked worse than 94.23% of 1422
companies
in the Banks industry
Industry Median: 0.58
vs ASX:NAB: 3.50
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
National Australia Bank Debt-to-Equity Related Terms
National Australia Bank Debt-to-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:NAB vs JPM, BAC, WFC: Debt-to-Equity Comparison
For the Banks - Diversified subindustry, National Australia Bank's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Australia Bank Debt-to-Equity vs Banks Industry
For the Banks industry and Financial Services sector, National Australia Bank's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where National Australia Bank's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National Australia Bank (ASX:NAB) has a Debt-to-Equity of 3.50 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on National Australia Bank and its competitors. This is 14% above median its historical median of 3.08. Over the past decade, National Australia Bank's Debt-to-Equity has ranged from 1.87 to 3.77. According to the industry distribution chart, National Australia Bank ranks #1340 out of 1422 companies in the Banks industry, placing it in the top 94.2%.
Is National Australia Bank's Debt-to-Equity too high?
National Australia Bank's current Debt-to-Equity of 3.50 is 14% above median its 10-year median of 3.08. Over the past 10 years, this metric has ranged from a low of 1.87 to a high of 3.77. The Banks industry median Debt-to-Equity is 0.58. National Australia Bank's value of 3.50 is 503.4% above this industry median. Based on the distribution chart, National Australia Bank ranks #1340 out of 1422 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Australia Bank has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Australia Bank's Debt-to-Equity compare to JPM and BAC?
According to the Banks industry distribution chart, National Australia Bank ranks #1340 out of 1422 companies for Debt-to-Equity. This places National Australia Bank in the lower half of its industry. The industry median Debt-to-Equity is 0.58. National Australia Bank's value of 3.50 is 503.4% above this benchmark. Historically, National Australia Bank's own Debt-to-Equity has ranged from 1.87 to 3.77 over the past decade. While the company's 10-year median is 3.08 vs. the industry median of 0.58, National Australia Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Banks company?
The median Debt-to-Equity among Banks companies is 0.58, based on 1,422 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Australia Bank's current Debt-to-Equity of 3.50 is 503.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on National Australia Bank and its competitors. For the Banks industry, the median Debt-to-Equity is 0.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Australia Bank's current Debt-to-Equity is 3.50, which is 14% above median its own 10-year median of 3.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Australia Bank stock overvalued right now?
Based on GuruFocus' analysis, National Australia Bank (ASX:NAB) is currently considered Fairly Valued. The stock's GF Value™ is A$43.20, compared to a current price of A$42.23 — trading 2.2% below its estimated fair value. The current Debt-to-Equity is 3.50, which is 14% above median its 10-year median of 3.08 and 503.4% above the Banks industry median of 0.58. National Australia Bank's overall GF Score™ is 63/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For National Australia Bank (ASX:NAB), the current Debt-to-Equity is 3.50 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Australia Bank (ASX:NAB) Overvalued in 2026?
Based on GuruFocus' analysis, National Australia Bank stock appears to be undervalued.
The current stock price of A$42.23 is trading 2.2% below its estimated GF Value™ of A$43.20.
GuruFocus considers National Australia Bank to be Fairly Valued.
Key valuation signals for ASX:NAB:
Debt-to-Equity: 3.50 (14% above median its 10-year median of 3.08)
GF Value™: A$43.20 vs. price of A$42.23 (2.2% below fair value)
Industry Position: 503.4% above the Banks median (#1340 of 1422)
No single metric tells the full story. See the ASX:NAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Australia Bank is the most business-focused of the four major banks, holding the largest share of business loans and the number-three spot in home loans. National Australia Bank is currently the second-largest bank by market capitalization, with the franchise covering consumer, small business, corporate, and institutional sectors. Under the UBank brand the bank also owns one of Australia's largest digital-only banks. Offshore operations in New Zealand round out the group.
63GF Score
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