National Bank of CanadaSTU:NBC +0.65%73 ROE % is 14.82% as of Apr. 2026, which is 5% below its 10-year median of 15.62. GuruFocus rates STU:NBC with a GF Score™ of 73/100 and a GF Value™ of €93.37 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,524 Banks companies, National Bank of Canada ranks better than 74.54% on this metric.
The historical rank and industry rank for National Bank of Canada's ROE % or its related term are showing as below:
STU:NBC'
s ROE % Range Over the Past 10 Years
Min: 10.81 Med: 15.62 Max: 17.91
Current: 13.82
During the past 13 years, National Bank of Canada's highest ROE % was 17.91%. The lowest was 10.81%. And the median was 15.62%.
STU:NBC's ROE % is ranked better than 74.54% of 1524
companies
in the Banks industry
Industry Median: 10.22
vs STU:NBC: 13.82
National Bank of Canada (STU:NBC) 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 (Apr. 2026) net income data. The Revenue data used here is four times the quarterly (Apr. 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 - Diversified subindustry, National Bank of Canada'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 Canada ROE % vs Banks Industry
For the Banks industry and Financial Services sector, National Bank of Canada's ROE % distribution charts can be found below:
* The bar in red indicates where National Bank of Canada'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 (Apr. 2026) net income data.
ROE % is displayed in the 30-year financial page.
National Bank of Canada (STU:NBC) has a ROE % of 14.82% as of Apr. 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 Canada and its competitors. This is near median its historical median of 15.62. Over the past decade, National Bank of Canada's ROE % has ranged from 10.81 to 17.91. According to the industry distribution chart, National Bank of Canada ranks #388 out of 1524 companies in the Banks industry, placing it in the top 25.5%.
Is National Bank of Canada's ROE % too high?
National Bank of Canada's current ROE % of 14.82% is near median its 10-year median of 15.62. Over the past 10 years, this metric has ranged from a low of 10.81 to a high of 17.91. The Banks industry median ROE % is 10.22. National Bank of Canada's value of 14.82% is 45% above this industry median. Based on the distribution chart, National Bank of Canada ranks #388 out of 1524 companies in the Banks industry, which is above the industry midpoint. Overall, National Bank of Canada has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Bank of Canada's ROE % compare to JPM and BAC?
According to the Banks industry distribution chart, National Bank of Canada ranks #388 out of 1524 companies for ROE %. This puts National Bank of Canada in the upper half of its industry. The industry median ROE % is 10.22. National Bank of Canada's value of 14.82% is 45% above this benchmark. Historically, National Bank of Canada's own ROE % has ranged from 10.81 to 17.91 over the past decade. While the company's 10-year median is 15.62 vs. the industry median of 10.22, 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 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 Canada's current ROE % of 14.82% is 45% 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 Canada 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 Canada's current ROE % is 14.82%, which is near median its own 10-year median of 15.62. 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 (STU:NBC) is currently considered Significantly Overvalued. The stock's GF Value™ is €93.37, compared to a current price of €138.35 — trading 48.2% above its estimated fair value. The current ROE % is 14.82%, which is near median its 10-year median of 15.62 and 45% above the Banks industry median of 10.22. National Bank of Canada's overall GF Score™ is 73/100 with 7 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 Canada (STU:NBC), the current ROE % is 14.82% 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 (STU:NBC) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank of Canada stock appears to be overvalued.
The current stock price of €138.35 is trading 48.2% above its estimated GF Value™ of €93.37.
GuruFocus considers National Bank of Canada to be Significantly Overvalued.
Key valuation signals for STU:NBC:
ROE %: 14.82% (near median its 10-year median of 15.62)
GF Value™: €93.37 vs. price of €138.35 (48.2% above fair value)
Industry Position: 45% above the Banks median (#388 of 1524)
No single metric tells the full story. See the STU:NBC 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.
73GF Score
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