National Bank of GreeceATH:ETE -2.40%56 ROE % is 11.60% as of Mar. 2026, which is 67% above its 10-year median of 6.96. GuruFocus rates ATH:ETE with a GF Score™ of 56/100 and a GF Value™ of €7.85 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,524 Banks companies, National Bank of Greece ranks better than 67.13% on this metric.
The historical rank and industry rank for National Bank of Greece's ROE % or its related term are showing as below:
ATH:ETE'
s ROE % Range Over the Past 10 Years
Min: -36.07 Med: 6.96 Max: 18.36
Current: 12.54
During the past 13 years, National Bank of Greece's highest ROE % was 18.36%. The lowest was -36.07%. And the median was 6.96%.
ATH:ETE's ROE % is ranked better than 67.13% of 1524
companies
in the Banks industry
Industry Median: 10.22
vs ATH:ETE: 12.54
National Bank of Greece (ATH:ETE) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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 of Greece's ROE %, along with its competitors' market caps and ROE % 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 Greece ROE % vs Banks Industry
For the Banks industry and Financial Services sector, National Bank of Greece's ROE % distribution charts can be found below:
* The bar in red indicates where National Bank of Greece's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
National Bank of Greece (ATH:ETE) has a ROE % of 11.60% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on National Bank of Greece and its competitors. This is 67% above median its historical median of 6.96. According to the industry distribution chart, National Bank of Greece ranks #501 out of 1524 companies in the Banks industry, placing it in the top 32.9%.
Is National Bank of Greece's ROE % too high?
National Bank of Greece's current ROE % of 11.60% is 67% above median its 10-year median of 6.96. The Banks industry median ROE % is 10.22. National Bank of Greece's value of 11.60% is 13.5% above this industry median. Based on the distribution chart, National Bank of Greece ranks #501 out of 1524 companies in the Banks industry, which is above the industry midpoint. Overall, National Bank of Greece has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Bank of Greece's ROE % compare to PNC and USB?
According to the Banks industry distribution chart, National Bank of Greece ranks #501 out of 1524 companies for ROE %. This puts National Bank of Greece in the upper half of its industry. The industry median ROE % is 10.22. National Bank of Greece's value of 11.60% is 13.5% above this benchmark. While the company's 10-year median is 6.96 vs. the industry median of 10.22, National Bank of Greece 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 ROE % for a Banks company?
The median ROE % among Banks companies is 10.22, based on 1,524 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Bank of Greece's current ROE % of 11.60% is 13.5% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on National Bank of Greece and its competitors. For the Banks industry, the median ROE % is 10.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bank of Greece's current ROE % is 11.60%, which is 67% above median its own 10-year median of 6.96. 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 Greece stock overvalued right now?
Based on GuruFocus' analysis, National Bank of Greece (ATH:ETE) is currently considered Significantly Overvalued. The stock's GF Value™ is €7.85, compared to a current price of €15.05 — trading 91.7% above its estimated fair value. The current ROE % is 11.60%, which is 67% above median its 10-year median of 6.96 and 13.5% above the Banks industry median of 10.22. National Bank of Greece's overall GF Score™ is 56/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For National Bank of Greece (ATH:ETE), the current ROE % is 11.60% 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 Bank of Greece (ATH:ETE) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank of Greece stock appears to be overvalued.
The current stock price of €15.05 is trading 91.7% above its estimated GF Value™ of €7.85.
GuruFocus considers National Bank of Greece to be Significantly Overvalued.
Key valuation signals for ATH:ETE:
ROE %: 11.60% (67% above median its 10-year median of 6.96)
GF Value™: €7.85 vs. price of €15.05 (91.7% above fair value)
Industry Position: 13.5% above the Banks median (#501 of 1524)
No single metric tells the full story. See the ATH:ETE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bank of Greece SA consists of several subsidiaries offering diverse financial services, including retail, corporate, and investment banking, specialized asset solutions, transactional banking, leasing, factoring, brokerage, asset management, real estate management, and bancassurance-related services. Its segments include Retail Banking, Corporate and Investment Banking, Trouble Assets Units, Global Markets and Asset Management, International Banking Operations, and Other. The group generates maximum revenue from the Retail Banking segment, which, through its branch network and digital business, offers various types of loans (mortgage, consumer, and small business lending), cards (debit, credit, and prepaid cards), deposits, investment, bancassurance, and other products.
56GF Score
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