NTIOF
National Bank of Canada
OTC Markets OTCPKUSDEQUITY
Financial Services
DELAYED
Neutral
-15/100
Last price
143.50
▲ 1.25 (0.88%)
MARKET · —
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Tool
1D
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Range —
Vol —
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Open
—
Prev close
142.25
Day high
143.51
Day low
143.09
Volume
338
Market cap
$54.94B
P/E (TTM)
16.63
52W range
106.84 – 171.47
Trailing performance
Returnvs SPY
1W
-1.98%
-3.9%
1M
-9.03%
-10.2%
3M
-8.95%
-13.5%
6M
+6.49%
-11.7%
YTD
+13.93%
-0.3%
1Y
+32.18%
+15.8%
3Y
+115.43%
+33.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on NTIOF open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
436.81K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 17, 26 | National Bank of Canada Issuer |
BUY | 68.00K | $10.25M | Direct |
| Sep 17, 26 | National Bank of Canada Issuer |
— | 68.40K | — | Direct |
| Sep 16, 26 | National Bank of Canada Issuer |
BUY | 68.40K | $10.29M | Direct |
| Sep 16, 26 | National Bank of Canada Issuer |
— | 67.50K | — | Direct |
| Sep 15, 26 | National Bank of Canada Issuer |
BUY | 67.50K | $10.09M | Direct |
| Sep 15, 26 | National Bank of Canada Issuer |
— | 67.30K | — | Direct |
| Sep 14, 26 | National Bank of Canada Issuer |
BUY | 67.30K | $10.29M | Direct |
| Sep 14, 26 | National Bank of Canada Issuer |
— | 67.80K | — | Direct |
| Sep 11, 26 | National Bank of Canada Issuer |
BUY | 67.80K | $10.36M | Direct |
| Sep 11, 26 | National Bank of Canada Issuer |
— | 67.00K | — | Direct |
| Sep 10, 26 | National Bank of Canada Issuer |
BUY | 67.00K | $10.24M | Direct |
| Sep 10, 26 | National Bank of Canada Issuer |
— | 66.50K | — | Direct |
| Sep 9, 26 | National Bank of Canada Issuer |
BUY | 66.50K | $10.21M | Direct |
| Sep 9, 26 | National Bank of Canada Issuer |
— | 65.50K | — | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
Blanchet (Luice) |
Senior Officer of Issuer | 32.41K | Grant of rights |
Blouin, Pierre J |
Director of Issuer | 23.50K | Grant of rights |
Boivin (Pierre) |
Director of Issuer | 31.47K | Grant of rights |
Charest (Yvon) |
Director of Issuer | 21.19K | Acquisition or disposition in the public market |
Dubuc (�tienne) |
Senior Officer of Issuer | 37.86K | Stock dividend |
Ferreira (Laurent) |
Director of Issuer | 126.88K | Stock dividend |
Gingras (Marie Chantal) |
Senior Officer of Issuer | 25.38K | Stock dividend |
Hebert, Brigitte |
Senior Officer of Issuer | 34.89K | Stock dividend |
National Bank of Canada |
Issuer | 136.40K | Redemption, retraction, cancelation, repurchase |
Par� (Robert) |
Director of Issuer | 23.41K | Grant of rights |
Fundamentals
Market cap$54.94B
Enterprise value$-92.22B
Revenue (TTM)$14.58B
Gross profit$14.58B
EBITDA—
Net income$4.70B
EPS (TTM)$8.63
Free cash flow—
Total cash$232.33B
Total debt$83.51B
Book value / share$62.55
Shares outstanding382.84M
Float382.77M
Short % of float—
Dividend yield2.58%
Beta (5Y)1.17
Valuation & profitability ratios
Trailing P/E16.63
Forward P/E13.91
PEG ratio1.31
Price / sales—
Price / book2.29
EV / revenue-6.32
EV / EBITDA—
Gross margin0.00%
Operating margin45.02%
Profit margin33.28%
Return on equity14.27%
Return on assets0.82%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $14.02B | $11.41B | $10.05B | $9.62B | +22.9% |
| Operating revenue | $14.02B | $11.41B | $10.05B | $9.62B | +22.9% |
| Selling, general & admin | $4.55B | $3.73B | $3.42B | $3.28B | +22.1% |
| Pre-tax income | $5.13B | $4.78B | $3.91B | $4.28B | +7.5% |
| Tax provision | $1.12B | $961.00M | $619.00M | $894.00M | +16.2% |
| Net income | $4.02B | $3.82B | $3.29B | $3.38B | +5.2% |
| Net income to common | $3.85B | $3.66B | $3.15B | $3.28B | +5.2% |
| Basic EPS | 10.18 | 10.78 | 9.33 | 9.72 | -5.6% |
| Diluted EPS | 10.07 | 10.68 | 9.24 | 9.61 | -5.7% |
| Basic shares | 378.50M | 339.73M | 337.66M | 337.10M | +11.4% |
| Diluted shares | 382.48M | 342.84M | 340.77M | 340.84M | +11.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $27.92B | $31.55B | $35.23B | $31.87B | -11.5% |
| Accounts receivable | $3.01B | $3.04B | $2.14B | $1.90B | -1.1% |
| Property, plant & equipment | $2.16B | $1.87B | $1.59B | $1.40B | +15.7% |
| Goodwill & intangibles | $4.85B | $2.75B | $2.78B | $2.88B | +76.0% |
| Total assets | $576.92B | $462.23B | $423.48B | $403.74B | +24.8% |
| Current debt | $64.25B | $32.73B | $20.77B | $17.07B | +96.3% |
| Long-term debt | $43.59B | $41.59B | $32.22B | $27.25B | +4.8% |
| Total debt | $108.49B | $74.78B | $53.51B | $44.88B | +45.1% |
| Total liabilities | $543.15B | $436.68B | $399.89B | $381.99B | +24.4% |
| Retained earnings | $20.37B | $18.63B | $16.65B | $15.14B | +9.3% |
| Shareholder equity | $33.77B | $25.55B | $23.58B | $21.74B | +32.2% |
| Net tangible assets | $28.92B | $22.80B | $20.80B | $18.86B | +26.9% |
| Shares issued | 391.07M | 340.74M | 338.28M | 336.58M | +14.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $4.02B | $3.82B | $3.29B | $3.38B | +5.3% |
| Depreciation & amortisation | $654.00M | $514.00M | $524.00M | $481.00M | +27.2% |
| Stock-based compensation | $24.00M | $17.00M | $18.00M | $17.00M | +41.2% |
| Change in working capital | -$1.05B | $196.00M | $1.26B | -$5.92B | -637.2% |
| Operating cash flow | $4.63B | $4.65B | $5.17B | -$1.92B | -0.4% |
| Capital expenditure | -$502.00M | -$703.00M | -$651.00M | -$670.00M | +28.6% |
| Investing cash flow | -$7.08B | -$7.34B | -$80.00M | -$1.46B | +3.5% |
| Share buybacks | -$513.00M | $0 | $0 | -$245.00M | — |
| Dividends paid | -$1.95B | -$1.64B | -$1.50B | -$1.32B | -19.0% |
| Financing cash flow | -$1.18B | -$1.10B | -$2.27B | -$381.00M | -7.1% |
| Free cash flow | $4.13B | $3.95B | $4.51B | -$2.59B | +4.7% |
| End cash position | $27.92B | $31.55B | $35.23B | $31.87B | -11.5% |
| Line item | 2026-07-31 | 2026-04-30 | 2026-01-31 | 2025-10-31 | 2025-07-31 | 2025-04-30 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $4.05B | $3.90B | $3.88B | $3.70B | $3.44B | — | +3.9% |
| Operating revenue | $4.05B | $3.90B | $3.88B | $3.70B | $3.44B | — | +3.9% |
| Selling, general & admin | $1.27B | $1.25B | $1.26B | $1.16B | $1.16B | — | +1.5% |
| Pre-tax income | $1.71B | $1.61B | $1.64B | $1.37B | $1.32B | — | +6.1% |
| Tax provision | $407.00M | $381.00M | $384.00M | $308.00M | $256.00M | — | +6.8% |
| Net income | $1.31B | $1.23B | $1.25B | $1.06B | $1.06B | — | +5.9% |
| Net income to common | $1.27B | $1.20B | $1.22B | $1.02B | $1.02B | — | +5.8% |
| Basic EPS | 3.29 | 3.10 | 3.12 | — | 2.61 | 2.19 | +6.1% |
| Diluted EPS | 3.25 | 3.06 | 3.08 | — | 2.58 | 2.17 | +6.2% |
| Basic shares | 384.66M | 386.58M | 390.05M | — | 391.61M | 390.12M | -0.5% |
| Diluted shares | 390.02M | 391.46M | 394.74M | — | 395.92M | 393.88M | -0.4% |
| Line item | 2026-07-31 | 2026-04-30 | 2026-01-31 | 2025-10-31 | 2025-07-31 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $47.76B | $43.43B | $36.77B | $27.92B | $29.56B | +10.0% |
| Accounts receivable | $2.97B | $3.30B | $4.13B | $3.01B | $2.69B | -10.0% |
| Property, plant & equipment | $2.27B | $2.17B | $2.16B | $2.16B | $2.12B | +4.5% |
| Goodwill & intangibles | $4.75B | $4.79B | $4.82B | $4.85B | $4.91B | -0.8% |
| Total assets | $635.16B | $617.73B | $605.87B | $576.92B | $552.62B | +2.8% |
| Current debt | $76.18B | $67.38B | $69.64B | $64.25B | $55.31B | +13.1% |
| Long-term debt | $49.91B | $48.87B | $50.56B | $43.59B | $41.92B | +2.1% |
| Total debt | $126.87B | $116.92B | $120.85B | $108.49B | $97.85B | +8.5% |
| Total liabilities | $600.49B | $584.15B | $572.65B | $543.15B | $519.25B | +2.8% |
| Retained earnings | $21.08B | $20.77B | $20.47B | $20.37B | $20.11B | +1.5% |
| Shareholder equity | $34.67B | $33.58B | $33.22B | $33.77B | $33.38B | +3.2% |
| Net tangible assets | $29.93B | $28.80B | $28.40B | $28.92B | $28.46B | +3.9% |
| Shares issued | 383.58M | 385.63M | 388.32M | 391.07M | 391.97M | -0.5% |
| Line item | 2026-07-31 | 2026-04-30 | 2026-01-31 | 2025-10-31 | 2025-07-31 | YoY |
|---|---|---|---|---|---|---|
| Net income | $1.31B | $1.23B | $1.25B | $1.06B | $1.06B | +5.9% |
| Depreciation & amortisation | $172.00M | $171.00M | $166.00M | $215.00M | $147.00M | +0.6% |
| Stock-based compensation | $6.00M | $6.00M | $6.00M | $6.00M | $7.00M | 0.0% |
| Change in working capital | $4.54B | $9.28B | $12.26B | -$392.00M | -$650.00M | -51.0% |
| Operating cash flow | $6.14B | $10.77B | $13.89B | $1.01B | $863.00M | -43.0% |
| Capital expenditure | -$96.00M | -$106.00M | -$103.00M | -$184.00M | -$92.00M | +9.4% |
| Investing cash flow | -$1.85B | -$2.90B | -$2.93B | -$1.92B | -$2.94B | +36.3% |
| Share buybacks | -$14.00M | -$622.00M | -$1.12B | -$213.00M | $0 | +97.7% |
| Dividends paid | -$554.00M | -$519.00M | -$526.00M | -$509.00M | -$510.00M | -6.7% |
| Financing cash flow | -$491.00M | -$1.09B | -$1.63B | -$1.05B | $159.00M | +54.9% |
| Free cash flow | $6.04B | $10.66B | $13.79B | $830.00M | $771.00M | -43.3% |
| End cash position | $47.76B | $43.43B | $36.77B | $27.92B | $29.56B | +10.0% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jul 2026 | 2.30 | 2.45 | +6.4% |
| Apr 2026 | 2.28 | 2.34 | +2.6% |
| Jan 2026 | 2.20 | 2.37 | +7.8% |
| Oct 2025 | 1.87 | 2.02 | +8.0% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 2.36 | 9 | $4.03B | +8.9% |
| Next quarter | 2.53 | 5 | $4.15B | +6.5% |
| Current year | 9.41 | 11 | $15.83B | +12.9% |
| Next year | 10.31 | 11 | $16.64B | +5.1% |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusHOLD
Strong buy / Buy1 / 1
Hold7
Sell / Strong sell0 / 2
Held by insiders0.11%
Held by institutions41.99%
Institutions holding354
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
145.42
-1.32% from price
SMA 20
148.58
-3.42% from price
SMA 50
155.24
-7.56% from price
SMA 100
155.00
-7.42% from price
SMA 200
144.23
-0.51% from price
EMA 12
145.79
-1.57% from price
EMA 26
149.34
-3.91% from price
EMA 50
152.24
-5.74% from price
RSI (14)
35.9
Neutral
MACD (12,26,9)
-3.55
Hist -0.51
ATR (14)
1.99
1.39% of price
Realised vol 30D
25.6%
Annualised
Bollinger upper
156.54
20, 2σ
Bollinger lower
140.63
20, 2σ
50 / 200 cross
Golden
155.24 vs 144.23
Trend bias
Below 200
-0.51%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.67
Less volatile than market
Correlation to SPY
0.42
Loosely linked
Realised vol 30D
25.6%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-15.5%
Peak to trough
Max drawdown 5Y
-31.7%
Peak to trough
ATR 14
1.99
1.39% of price
Beta (reported)
1.17
5Y monthly, from filing
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jun 1, 23 | TD Securities | MAINTAINED | — | Hold |
Dividends & splits
Forward rate$3.70 / yr
Forward yield2.58%
5-year avg yield3.31%
Payout ratio41.64%
Ex-dividend dateSep 28, 2026
Next pay dateAug 1, 2026
Last split2:1
Split dateFeb 14, 2014
Headlines
National Bank of Canada confirms the launch of its normal course issuer bid
CNW Group · 1d ago
National Bank of Canada's Dividend Analysis
GuruFocus.com · 9d ago
National Bank of Canada Intends to Launch a Normal Course Issuer Bid
MT Newswires · 12d ago
National Bank of Canada announces its intention to launch a normal course issuer bid
CNW Group · 12d ago
Canada's Banks To Accept Tokenized Deposits
CryptoProwl · 14d ago
Is National Bank Of Canada (TSX:NA) Still Undervalued After A 165% Run?
Simply Wall St. · 14d ago
National Bank of Canada Announces Closing of Institutional NVCC Preferred Shares Offering
CNW Group · 15d ago
National Bank of Canada Eyes Commercial Growth From CWB Deal, Succession Wave
MarketBeat · 15d ago
PRIVATE STRATEGY · BY QUALIFICATION
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