Definitive Analysis
Definitive Analysis
Financial Statements
Periods / Units
Fundamentals
Valuations
Miscellaneous
Analysis Mode
Full Access
See Pricing Start Trial

National Australia Bank Limited (NAB.AX)

Company Dividend Discount ModelIndustry: Banks - DiversifiedSector: Financial Services

Valuation Snapshot

Stable Growth$51.69 - $94.10$69.30
Multi-Stage$76.60 - $83.95$80.21
Blended Fair Value$74.75
Current Price$34.02
Upside119.73%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.55%1.69%1.401.291.190.800.690.971.261.411.371.08
YoY Growth--8.32%8.31%49.37%15.45%-28.87%-22.62%-11.14%3.42%26.74%-8.78%
Dividend Yield--3.74%4.44%4.14%2.87%3.89%3.27%4.55%4.49%4.90%3.73%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)12,160.50
(-) Cash Dividends Paid (M)8,075.00
(=) Cash Retained (M)4,085.50
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2,432.101,520.06912.04
Cash Retained (M)4,085.504,085.504,085.50
(-) Cash Required (M)-2,432.10-1,520.06-912.04
(=) Excess Retained (M)1,653.402,565.443,173.46
(/) Shares Outstanding (M)3,362.043,362.043,362.04
(=) Excess Retained per Share0.490.760.94
LTM Dividend per Share2.402.402.40
(+) Excess Retained per Share0.490.760.94
(=) Adjusted Dividend2.893.163.35
WACC / Discount Rate7.08%7.08%7.08%
Growth Rate1.41%2.41%3.41%
Fair Value$51.69$69.30$94.10
Upside / Downside51.94%103.71%176.59%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)12,160.5012,453.1612,752.8613,059.7813,374.0813,695.9514,106.83
Payout Ratio66.40%71.12%75.84%80.56%85.28%90.00%92.50%
Projected Dividends (M)8,075.008,857.049,672.0410,521.1411,405.5112,326.3513,048.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.08%7.08%7.08%
Growth Rate1.41%2.41%3.41%
Year 1 PV (M)8,190.398,271.168,351.93
Year 2 PV (M)8,270.858,434.788,600.32
Year 3 PV (M)8,319.778,568.338,821.80
Year 4 PV (M)8,340.258,674.139,017.94
Year 5 PV (M)8,335.188,754.359,190.21
PV of Terminal Value (M)216,087.57226,954.29238,253.86
Equity Value (M)257,544.02269,657.05282,236.06
Shares Outstanding (M)3,362.043,362.043,362.04
Fair Value$76.60$80.21$83.95
Upside / Downside125.17%135.76%146.76%

High-Yield Dividend Screener

« Prev Page 4 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
VKQInvesco Municipal Trust8.62%$0.8469.07%
ARCCAres Capital Corporation8.61%$1.7691.56%
TPVGTriplePoint Venture Growth BDC Corp.8.52%$0.5767.26%
C-PJCitigroup Inc.8.49%$2.1326.99%
RVTRoyce Value Trust Inc.8.42%$1.3639.40%
OGNOrganon & Co.8.37%$0.6131.54%
MITTAG Mortgage Investment Trust, Inc.8.12%$0.7043.47%
CAGConagra Brands, Inc.8.06%$1.3978.70%
NOGNorthern Oil and Gas, Inc.8.02%$1.7794.64%
PAAPlains All American Pipeline, L.P.8.00%$1.4690.71%
TSLXSixth Street Specialty Lending, Inc.8.00%$1.7385.26%
ACCOACCO Brands Corporation7.90%$0.2967.00%
ETDEthan Allen Interiors Inc.7.90%$1.8197.75%
CQPCheniere Energy Partners, L.P.7.82%$4.2388.03%
UNMAUnum Group 6.250% JR NT587.69%$1.7933.52%
WRB-PHW.R. Berkley Corporation 4.125%7.68%$1.2726.69%
JHSJohn Hancock Income Securities Trust7.65%$0.8994.90%
NIDNuveen Intermediate Duration Municipal Term Fund7.59%$1.0284.59%
HWCPZHancock Whitney Corporation - 67.58%$1.7731.35%
WRB-PGW.R. Berkley Corporation 4.25%7.54%$1.2726.69%
NMTNuveen Massachusetts Quality Municipal Income Fund7.48%$0.8580.62%
LOANManhattan Bridge Capital, Inc.7.45%$0.3574.53%
OPALOPAL Fuels Inc.7.43%$0.1846.94%
ZIONLZions Bancorporation N.A. - 6.97.42%$1.8632.04%
GMTAGATX Corporation SR NT 20667.41%$1.8621.29%
IIMInvesco Value Municipal Income Trust7.41%$0.9264.33%
JMMNuveen Multi-Market Income Fund7.28%$0.4461.06%
BKEThe Buckle, Inc.7.26%$3.9196.21%
MHIPioneer Municipal High Income Fund, Inc.7.19%$0.6413.70%
ORIOld Republic International Corporation7.19%$3.1193.13%
PMFPIMCO Municipal Income Fund7.07%$0.5992.59%
RYNRayonier Inc.7.04%$1.5230.67%
DRQDril-Quip, Inc.7.02%$1.0850.37%
TRINITrinity Capital Inc. 7.875% Notes Due 20297.02%$1.7883.48%
C-PNCitigroup Capital XIII TR PFD SECS7.01%$2.1326.99%
VPVInvesco Pennsylvania Value Municipal Income Trust6.98%$0.7360.22%
VCVInvesco California Value Municipal Income Trust6.97%$0.7860.58%
EOTEaton Vance National Municipal Opportunities Trust6.96%$1.1869.84%
FLATXFidelity Latin America Fund6.92%$1.1539.63%
EGYVAALCO Energy, Inc.6.91%$0.2592.67%
NOMNuveen Missouri Quality Municipal Income Fund6.91%$0.8278.81%
UBCPUnited Bancorp, Inc.6.90%$0.9996.30%
TBCAT&T Inc. 5.625% Global Notes d6.89%$1.7255.65%
GTNGray Media, Inc.6.87%$0.3334.04%
HEPHolly Energy Partners, L.P.6.86%$1.4074.08%
AFGAmerican Financial Group, Inc.6.85%$9.2396.49%
BANFPBFC Capital Trust II PFD TR 7.20%6.85%$1.8025.72%
CFG-PDCitizens Financial Group, Inc.6.83%$1.7143.60%
RCIIRent-A-Center, Inc.6.81%$1.8279.98%
SPHSuburban Propane Partners, L.P.6.81%$1.2778.56%