` Comparison: NAB, CBA - Alpha Spread

NAB
vs
CBA

Over the past 12 months, NAB has underperformed CBA, delivering a return of -1% compared to the CBA's +28% growth.

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NAB
CBA
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One-click summary across all key metrics.
Ranked results with clear takeaways.
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Valuation
Growth
Profitability
Solvency
Comparing Valuation
Running a multi-layered valuation analysis to compare how attractive each stock is.
Comparing Growth
Financial growth, forecasts, volatility, and historical drawdowns.
Comparing Profitability
Margins, returns on capital, and the consistency of profitability.
Comparing Solvency
Debt levels, liquidity, interest coverage, and bankruptcy risk.
Summarizing...
We need a little more time to summarize the results

Valuation Comparison

NAB Intrinsic Value
32.83 AUD
Overvaluation 12%
Intrinsic Value
Price
CBA Intrinsic Value
103.82 AUD
Overvaluation 40%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
National Australia Bank Ltd
ASX:NAB
37.51 AUD
Commonwealth Bank of Australia
ASX:CBA
172.87 AUD
Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
NAB, CBA

NAB
CBA
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
National Australia Bank Ltd
Revenue
Commonwealth Bank of Australia
Revenue

All metrics are calculated based on data from the last 10 years.

Profitability Comparison

Free Cash Flow
NAB, CBA

NAB
CBA
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
National Australia Bank Ltd
ASX:NAB
FCF is not applicable for financial companies
Commonwealth Bank of Australia
ASX:CBA
FCF is not applicable for financial companies
What is Free Cash Flow?

Gross Margin

NAB
CBA
LTM 3Y Avg 5Y Avg 10Y Avg
National Australia Bank Ltd
Not applicable for financial companies
Commonwealth Bank of Australia
Not applicable for financial companies

Operating Margin

NAB
CBA
LTM 3Y Avg 5Y Avg 10Y Avg
National Australia Bank Ltd
Not applicable for financial companies
Commonwealth Bank of Australia
Not applicable for financial companies

Net Margin

NAB
32.4%
CBA
35.1%

FCF Margin

NAB
CBA
LTM 3Y Avg 5Y Avg 10Y Avg
National Australia Bank Ltd
Not applicable for financial companies
Commonwealth Bank of Australia
Not applicable for financial companies

ROE

NAB
11.1%
CBA
13.2%

ROA

NAB
0.6%
CBA
0.8%

ROIC

NAB
CBA
LTM 3Y Avg 5Y Avg 10Y Avg
National Australia Bank Ltd
Not applicable for financial companies
Commonwealth Bank of Australia
Not applicable for financial companies

ROCE

NAB
CBA
LTM 3Y Avg 5Y Avg 10Y Avg
National Australia Bank Ltd
Not applicable for financial companies
Commonwealth Bank of Australia
Not applicable for financial companies

Solvency Comparison

Balance Sheet Comparison

Stocks Performance

Stocks Performance
NAB, CBA

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Performance Gap
NAB, CBA

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NAB
CBA
Difference
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Performance By Year
NAB, CBA

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NAB
CBA
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