EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, National Bank Holdings's Enterprise Value is €1,505.0 Mil.
National Bank Holdings's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €34.3 Mil. Therefore, National Bank Holdings's EV-to-FCF for today is 43.83.
The historical rank and industry rank for National Bank Holdings's EV-to-FCF or its related term are showing as below:
FRA:NB9'
s EV-to-FCF Range Over the Past 10 Years
Min: -146.18 Med: 12.17 Max: 574.71
Current: 42.15
During the past 13 years, the highest EV-to-FCF of National Bank Holdings was 574.71. The lowest was -146.18. And the median was 12.17.
FRA:NB9's EV-to-FCF is ranked worse than 91.88% of 1195
companies
in the Banks industry
Industry Median: 6.57
vs FRA:NB9: 42.15
EV-to-FCF 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 Bank Holdings (FRA:NB9) EV-to-FCF Explanation
EV-to-FCF 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 Bank Holdings's PE Ratio (TTM) for today is calculated as:
National Bank Holdings's share price for today is €37.80.
National Bank Holdings's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €2.304.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF 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 - Regional subindustry, National Bank Holdings's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 Holdings EV-to-FCF vs Banks Industry
For the Banks industry and Financial Services sector, National Bank Holdings's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where National Bank Holdings's EV-to-FCF falls into.
National Bank Holdings's current Enterprise Value is €1,505.0 Mil.
National Bank Holdings's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €34.3 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 Bank Holdings (FRA:NB9) has a EV-to-FCF of 43.83 as of Jul. 08, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on National Bank Holdings and its competitors. This is 260% above median its historical median of 12.17. According to the industry distribution chart, National Bank Holdings ranks #1098 out of 1195 companies in the Banks industry, placing it in the top 91.9%.
Is National Bank Holdings' EV-to-FCF too high?
National Bank Holdings' current EV-to-FCF of 43.83 is 260% above median its 10-year median of 12.17. The Banks industry median EV-to-FCF is 6.57. National Bank Holdings' value of 43.83 is 567.1% above this industry median. Based on the distribution chart, National Bank Holdings ranks #1098 out of 1195 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Bank Holdings has a GF Score™ of 63/100, reflecting its overall financial health beyond just this single metric.
How does National Bank Holdings' EV-to-FCF compare to STEL and OFG?
According to the Banks industry distribution chart, National Bank Holdings ranks #1098 out of 1195 companies for EV-to-FCF. This places National Bank Holdings in the lower half of its industry. The industry median EV-to-FCF is 6.57. National Bank Holdings' value of 43.83 is 567.1% above this benchmark. While the company's 10-year median is 12.17 vs. the industry median of 6.57, National Bank Holdings 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-FCF for a Banks company?
The median EV-to-FCF among Banks companies is 6.57, based on 1,195 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Bank Holdings's current EV-to-FCF of 43.83 is 567.1% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on National Bank Holdings and its competitors. For the Banks industry, the median EV-to-FCF is 6.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bank Holdings's current EV-to-FCF is 43.83, which is 260% above median its own 10-year median of 12.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Bank Holdings stock overvalued right now?
National Bank Holdings (FRA:NB9) has a current EV-to-FCF of 43.83. The stock's GF Value™ is €34.58, compared to a current price of €37.80 — trading 9.3% above its estimated fair value. The current EV-to-FCF is 43.83, which is 260% above median its 10-year median of 12.17 and 567.1% above the Banks industry median of 6.57. National Bank Holdings' overall GF Score™ is 63/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For National Bank Holdings (FRA:NB9), the current EV-to-FCF is 43.83 as of Jul. 08, 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 Holdings (FRA:NB9) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank Holdings stock appears to be overvalued.
The current stock price of €37.80 is trading 9.3% above its estimated GF Value™ of €34.58.
Key valuation signals for FRA:NB9:
EV-to-FCF: 43.83 (260% above median its 10-year median of 12.17)
GF Value™: €34.58 vs. price of €37.80 (9.3% above fair value)
Industry Position: 567.1% above the Banks median (#1098 of 1195)
No single metric tells the full story. See the FRA:NB9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bank Holdings Corp offers a full range of banking products and financial services to commercial, business, and consumer clients predominantly in Colorado, with a focus on personalized service through relationship managers and banking center associates. The company provides commercial and industrial loans, non-owner occupied commercial real estate loans, Small Business Administration loans as a Preferred Lender Provider, U.S. Department of Agriculture and Farm Service Agency loans, commercial deposit and treasury management products, business online and mobile banking, consumer and residential real estate loans, deposit services, and trust and wealth management services. Its services emphasize full-relationship banking, integrating lending, deposits, and cash management solutions.
63GF Score
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