National Bank of Pakistan (KAR:NBP) E10: ₨19.43 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

KAR:NBP National Bank of Pakistan KAR:NBP
68 GF Score
Price ₨180.47
GF Value ₨98.41
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is National Bank of Pakistan E10?

National Bank of Pakistan KAR:NBP +0.13% 68 E10 is ₨19.43 as of Jun. 2026. GuruFocus rates KAR:NBP with a GF Score™ of 68/100 and a GF Value™ of ₨98.41 (Significantly Overvalued). The stock has 2 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

National Bank of Pakistan's adjusted earnings per share data for the three months ended in Jun. 2026 was ₨7.680. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₨19.43 for the trailing ten years ended in Jun. 2026.

During the past 12 months, National Bank of Pakistan's average E10 Growth Rate was 15.80% per year. During the past 3 years, the average E10 Growth Rate was 15.40% per year. During the past 5 years, the average E10 Growth Rate was 13.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of National Bank of Pakistan was 15.40% per year. The lowest was 12.00% per year. And the median was 14.30% per year.

As of today (2026-09-13), National Bank of Pakistan's current stock price is ₨180.47. National Bank of Pakistan's E10 for the quarter that ended in Jun. 2026 was ₨19.43. National Bank of Pakistan's Shiller PE Ratio of today is 9.29.

During the past 13 years, the highest Shiller PE Ratio of National Bank of Pakistan was 15.18. The lowest was 1.51. And the median was 3.33.


National Bank of Pakistan  (KAR:NBP) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

National Bank of Pakistan's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=180.47/19.43
=9.29

* 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.

During the past 13 years, the highest Shiller P/E Ratio of National Bank of Pakistan was 15.18. The lowest was 1.51. And the median was 3.33.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


National Bank of Pakistan E10 Related Terms


National Bank of Pakistan E10 Historical Data

* Premium members only.

The historical data trend for National Bank of Pakistan's E10 can be seen below:

* 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 Bank of Pakistan E10 Chart

National Bank of Pakistan Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.59 11.71 14.26 14.87 18.00

National Bank of Pakistan Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 16.78 17.70 18.00 18.84 19.43

National Bank of Pakistan E10 Competitor Comparison

For the Banks - Regional subindustry, National Bank of Pakistan's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Bank of Pakistan Shiller PE Ratio vs Banks Industry

For the Banks industry and Financial Services sector, National Bank of Pakistan's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where National Bank of Pakistan's Shiller PE Ratio falls into.


KAR:NBP
68GF Score
National Bank of Pakistan KAR:NBP
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

National Bank of Pakistan E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, National Bank of Pakistan's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=7.68/333.9520*333.9520
=7.680

Current CPI (Jun. 2026) = 333.9520.

National Bank of Pakistan Quarterly Data

per share eps CPI Adj_EPS
201609 1.660 241.428 2.296
201612 4.430 241.432 6.128
201703 1.940 243.801 2.657
201706 2.060 244.955 2.808
201709 2.900 246.819 3.924
201712 3.990 246.524 5.405
201803 2.380 249.554 3.185
201806 3.570 251.989 4.731
201809 1.640 252.439 2.170
201812 1.770 251.233 2.353
201903 2.000 254.202 2.627
201906 3.340 256.143 4.355
201909 2.470 256.759 3.213
201912 -0.010 256.974 -0.013
202003 1.940 258.115 2.510
202006 5.150 257.797 6.671
202009 5.200 260.280 6.672
202012 2.050 260.474 2.628
202103 3.670 264.877 4.627
202106 4.310 271.696 5.298
202109 3.550 274.310 4.322
202112 1.910 278.802 2.288
202203 4.560 287.504 5.297
202206 1.180 296.311 1.330
202209 3.290 296.808 3.702
202212 5.460 296.797 6.144
202303 5.290 301.836 5.853
202306 7.420 305.109 8.121
202309 5.780 307.789 6.271
202312 6.470 306.746 7.044
202403 4.560 312.332 4.876
202406 -4.230 314.175 -4.496
202409 1.390 315.301 1.472
202412 10.490 315.605 11.100
202503 10.290 319.799 10.745
202506 9.770 322.561 10.115
202509 10.830 324.800 11.135
202512 9.090 324.054 9.368
202603 7.580 330.213 7.666
202606 7.680 333.952 7.680

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of ₨19.43 mean?
National Bank of Pakistan (KAR:NBP) has a E10 of ₨19.43 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on National Bank of Pakistan and its competitors.
Is National Bank of Pakistan's E10 too high?
National Bank of Pakistan's current E10 is ₨19.43. Overall, National Bank of Pakistan has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Bank of Pakistan's E10 compare to competitors?
National Bank of Pakistan's E10 of ₨19.43 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Banks company?
A good E10 depends on the Banks industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on National Bank of Pakistan and its competitors. National Bank of Pakistan's current E10 is ₨19.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Bank of Pakistan stock overvalued right now?
Based on GuruFocus' analysis, National Bank of Pakistan (KAR:NBP) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨98.41, compared to a current price of ₨180.47 — trading 83.4% above its estimated fair value. The current E10 is ₨19.43. National Bank of Pakistan's overall GF Score™ is 68/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For National Bank of Pakistan (KAR:NBP), the current E10 is ₨19.43 as of Jun. 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 Bank of Pakistan (KAR:NBP) Overvalued in 2026?

Based on GuruFocus' analysis, National Bank of Pakistan stock appears to be overvalued. The current stock price of ₨180.47 is trading 83.4% above its estimated GF Value™ of ₨98.41. GuruFocus considers National Bank of Pakistan to be Significantly Overvalued.

Key valuation signals for KAR:NBP:

  • E10: ₨19.43
  • GF Value™: ₨98.41 vs. price of ₨180.47 (83.4% above fair value)
  • GF Score™: 68/100 with 2 warning signs

No single metric tells the full story. See the KAR:NBP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


National Bank of Pakistan Business Description

Address I.I. Chundrigar Road, NBP Building, Karachi, SD, PAK
National Bank of Pakistan is a commercial bank that provides banking and related services in Pakistan and overseas. The bank offers diversified banking services across retail, commercial, corporate and investment, Islamic, treasury, and international banking segments. Geographically, it derives a majority of its revenue from Pakistan. Approximately the Bank operates an extensive domestic network of 1,503 branches, including the Export Processing Zone branch in Karachi, and maintains 14 international branches.
68GF Score

Get the complete analysis for KAR:NBP

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₨180.47
Price
₨98.41
GF Value