National Bank of CanadaTSX:NA -0.12%74 Net Margin % is 31.66% as of Apr. 2026, which is 4% above its 10-year median of 30.48. GuruFocus rates TSX:NA with a GF Score™ of 74/100 and a GF Value™ of C$148.92 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,527 Banks companies, National Bank of Canada ranks better than 63.98% on this metric.
The historical rank and industry rank for National Bank of Canada's Net Margin % or its related term are showing as below:
TSX:NA'
s Net Margin % Range Over the Past 10 Years
Min: 19.62 Med: 30.48 Max: 35.27
Current: 30.92
TSX:NA's Net Margin % is ranked better than 63.98% of 1527
companies
in the Banks industry
Industry Median: 26.95
vs TSX:NA: 30.92
National Bank of Canada (TSX:NA) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
National Bank of Canada Net Margin % Related Terms
National Bank of Canada Net Margin % 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.
For the Banks - Diversified subindustry, National Bank of Canada's Net Margin %, along with its competitors' market caps and Net Margin % 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 Canada Net Margin % vs Banks Industry
For the Banks industry and Financial Services sector, National Bank of Canada's Net Margin % distribution charts can be found below:
* The bar in red indicates where National Bank of Canada's Net Margin % 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 Bank of Canada (TSX:NA) has a Net Margin % of 31.66% as of Apr. 2026. Net margin is the ratio of total net income to net sales. View historical data on National Bank of Canada and its competitors. This is near median its historical median of 30.48. Over the past decade, National Bank of Canada's Net Margin % has ranged from 19.62 to 35.27. According to the industry distribution chart, National Bank of Canada ranks #550 out of 1527 companies in the Banks industry, placing it in the top 36%.
Is National Bank of Canada's Net Margin % too high?
National Bank of Canada's current Net Margin % of 31.66% is near median its 10-year median of 30.48. Over the past 10 years, this metric has ranged from a low of 19.62 to a high of 35.27. The Banks industry median Net Margin % is 26.95. National Bank of Canada's value of 31.66% is 17.5% above this industry median. Based on the distribution chart, National Bank of Canada ranks #550 out of 1527 companies in the Banks industry, which is above the industry midpoint. Overall, National Bank of Canada has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Bank of Canada's Net Margin % compare to JPM and BAC?
According to the Banks industry distribution chart, National Bank of Canada ranks #550 out of 1527 companies for Net Margin %. This puts National Bank of Canada in the upper half of its industry. The industry median Net Margin % is 26.95. National Bank of Canada's value of 31.66% is 17.5% above this benchmark. Historically, National Bank of Canada's own Net Margin % has ranged from 19.62 to 35.27 over the past decade. While the company's 10-year median is 30.48 vs. the industry median of 26.95, National Bank of Canada 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 Net Margin % for a Banks company?
The median Net Margin % among Banks companies is 26.95, based on 1,527 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Bank of Canada's current Net Margin % of 31.66% is 17.5% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on National Bank of Canada and its competitors. For the Banks industry, the median Net Margin % is 26.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bank of Canada's current Net Margin % is 31.66%, which is near median its own 10-year median of 30.48. 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 Canada stock overvalued right now?
Based on GuruFocus' analysis, National Bank of Canada (TSX:NA) is currently considered Significantly Overvalued. The stock's GF Value™ is C$148.92, compared to a current price of C$223.81 — trading 50.3% above its estimated fair value. The current Net Margin % is 31.66%, which is near median its 10-year median of 30.48 and 17.5% above the Banks industry median of 26.95. National Bank of Canada's overall GF Score™ is 74/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For National Bank of Canada (TSX:NA), the current Net Margin % is 31.66% as of Apr. 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 Canada (TSX:NA) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank of Canada stock appears to be overvalued.
The current stock price of C$223.81 is trading 50.3% above its estimated GF Value™ of C$148.92.
GuruFocus considers National Bank of Canada to be Significantly Overvalued.
Key valuation signals for TSX:NA:
Net Margin %: 31.66% (near median its 10-year median of 30.48)
GF Value™: C$148.92 vs. price of C$223.81 (50.3% above fair value)
Industry Position: 17.5% above the Banks median (#550 of 1527)
No single metric tells the full story. See the TSX:NA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bank of Canada is the sixth-largest bank in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth management and capital markets services. The bank derives around 45% of its 2025 revenue from the province of Quebec, with additional operations in the rest of Canada and the United States. National Bank of Canada also owns ABA Bank, one of the largest commercial banks in Cambodia.
74GF Score
Get the complete analysis for TSX:NA
Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSX:NA has been successfully added to your 
