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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.
National Australia BankASX:NAB -1.26%66 EV-to-OCF is 395.65 as of Aug. 20, 2026, which is 5922% above its 10-year median of 6.57. GuruFocus rates ASX:NAB with a GF Score™ of 66/100 and a GF Value™ of A$42.31 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,496 Banks companies, National Australia Bank ranks worse than 99.73% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, National Australia Bank's Enterprise Value is A$246,492 Mil.
National Australia Bank's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was A$623 Mil. Therefore, National Australia Bank's EV-to-OCF for today is 395.65.
The historical rank and industry rank for National Australia Bank's EV-to-OCF or its related term are showing as below:
ASX:NAB'
s EV-to-OCF Range Over the Past 10 Years
Min: -27.9 Med: 6.57 Max: 407.69
Current: 407.69
During the past 13 years, the highest EV-to-OCF of National Australia Bank was 407.69. The lowest was -27.90. And the median was 6.57.
ASX:NAB's EV-to-OCF is ranked worse than 99.73% of 1496
companies
in the Banks industry
Industry Median: 3.885
vs ASX:NAB: 407.69
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
National Australia Bank (ASX:NAB) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
National Australia Bank's PE Ratio (TTM) for today is calculated as:
National Australia Bank's share price for today is A$38.43.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Australia Bank's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was A$1.995.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
* 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.
For the Banks - Diversified subindustry, National Australia Bank's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Banks Industry
For the Banks industry and Financial Services sector, National Australia Bank's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where National Australia Bank's EV-to-OCF falls into.
National Australia Bank's current Enterprise Value is A$246,492 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. National Australia Bank's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was A$623 Mil.
* 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 EV-to-OCF of 395.65 as of Aug. 20, 2026. This is 5922% above median its historical median of 6.57. According to the industry distribution chart, National Australia Bank ranks #1492 out of 1496 companies in the Banks industry, placing it in the top 99.7%.
Is National Australia Bank's EV-to-OCF too high?
National Australia Bank's current EV-to-OCF of 395.65 is 5922% above median its 10-year median of 6.57. The Banks industry median EV-to-OCF is 3.89. National Australia Bank's value of 395.65 is 10084% above this industry median. Based on the distribution chart, National Australia Bank ranks #1492 out of 1496 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Australia Bank has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Australia Bank's EV-to-OCF compare to JPM and BAC?
According to the Banks industry distribution chart, National Australia Bank ranks #1492 out of 1496 companies for EV-to-OCF. This places National Australia Bank in the lower half of its industry. The industry median EV-to-OCF is 3.89. National Australia Bank's value of 395.65 is 10084% above this benchmark. While the company's 10-year median is 6.57 vs. the industry median of 3.89, 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 EV-to-OCF for a Banks company?
The median EV-to-OCF among Banks companies is 3.89, based on 1,496 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Australia Bank's current EV-to-OCF of 395.65 is 10084% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Banks industry, the median EV-to-OCF is 3.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Australia Bank's current EV-to-OCF is 395.65, which is 5922% above median its own 10-year median of 6.57. 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$42.31, compared to a current price of A$38.43 — trading 9.2% below its estimated fair value. The current EV-to-OCF is 395.65, which is 5922% above median its 10-year median of 6.57 and 10084% above the Banks industry median of 3.89. National Australia Bank's overall GF Score™ is 66/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For National Australia Bank (ASX:NAB), the current EV-to-OCF is 395.65 as of Aug. 20, 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$38.43 is trading 9.2% below its estimated GF Value™ of A$42.31.
GuruFocus considers National Australia Bank to be Fairly Valued.
Key valuation signals for ASX:NAB:
EV-to-OCF: 395.65 (5922% above median its 10-year median of 6.57)
GF Value™: A$42.31 vs. price of A$38.43 (9.2% below fair value)
Industry Position: 10084% above the Banks median (#1492 of 1496)
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.
66GF Score
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