National Bank of Kuwait S.A.K.P.

KWSE:NBK Stock Report

Market Cap: د.ك7.3b

National Bank of KuwaitK.P Valuation

Is NBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NBK's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NBK's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NBK?

Key metric: As NBK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NBK. This is calculated by dividing NBK's market cap by their current earnings.
What is NBK's PE Ratio?
PE Ratio13x
Earningsد.ك564.72m
Market Capد.ك7.33b

Price to Earnings Ratio vs Peers

How does NBK's PE Ratio compare to its peers?

The above table shows the PE ratio for NBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.1x
KFH Kuwait Finance House K.S.C.P
21.3x6.9%د.ك12.5b
BOUBYAN Boubyan Bank K.S.C.P
27.7x14.0%د.ك2.4b
GBK Gulf Bank K.S.C.P
21.4x16.9%د.ك1.2b
CBK Commercial Bank of Kuwait K.P.S.C
10.2xn/aد.ك1.0b
NBK National Bank of KuwaitK.P
13x3.4%د.ك7.3b

Price-To-Earnings vs Peers: NBK is good value based on its Price-To-Earnings Ratio (13x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

How does NBK's PE Ratio compare vs other companies in the Asian Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NBK 13.0xIndustry Avg. 8.5xNo. of Companies76PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NBK is expensive based on its Price-To-Earnings Ratio (13x) compared to the Asian Banks industry average (8.5x).

Price to Earnings Ratio vs Fair Ratio

What is NBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: NBK is good value based on its Price-To-Earnings Ratio (13x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.ك0.88
د.ك0.88
+0.3%
8.9%د.ك1.02د.ك0.75n/a10
Nov ’25د.ك0.85
د.ك0.88
+3.6%
9.3%د.ك1.02د.ك0.75n/a9
Oct ’25د.ك0.88
د.ك0.90
+1.7%
8.4%د.ك1.02د.ك0.75n/a9
Sep ’25د.ك0.87
د.ك0.90
+2.6%
8.4%د.ك1.02د.ك0.75n/a9
Aug ’25د.ك0.90
د.ك0.89
-0.9%
9.4%د.ك1.02د.ك0.71n/a9
Jul ’25د.ك0.85
د.ك0.89
+4.7%
9.5%د.ك1.02د.ك0.71n/a9
Jun ’25د.ك0.86
د.ك0.90
+4.5%
10.7%د.ك1.10د.ك0.71n/a10
May ’25د.ك0.86
د.ك0.90
+4.2%
11.3%د.ك1.10د.ك0.71n/a10
Apr ’25د.ك0.91
د.ك0.89
-2.1%
12.1%د.ك1.10د.ك0.69n/a9
Mar ’25د.ك0.93
د.ك0.88
-5.2%
12.0%د.ك1.10د.ك0.69n/a10
Feb ’25د.ك0.93
د.ك0.88
-5.0%
11.4%د.ك1.10د.ك0.69n/a10
Jan ’25د.ك0.85
د.ك0.88
+2.9%
10.4%د.ك1.05د.ك0.69n/a10
Dec ’24د.ك0.84
د.ك0.88
+4.3%
10.2%د.ك1.05د.ك0.69n/a10
Nov ’24د.ك0.83
د.ك0.88
+6.5%
10.7%د.ك1.05د.ك0.69د.ك0.859
Oct ’24د.ك0.86
د.ك0.88
+2.1%
10.0%د.ك1.02د.ك0.72د.ك0.888
Sep ’24د.ك0.88
د.ك0.90
+2.8%
11.7%د.ك1.05د.ك0.72د.ك0.878
Aug ’24د.ك0.91
د.ك0.91
-0.4%
14.1%د.ك1.12د.ك0.72د.ك0.908
Jul ’24د.ك0.89
د.ك0.92
+3.7%
14.2%د.ك1.12د.ك0.72د.ك0.858
Jun ’24د.ك0.87
د.ك0.93
+7.0%
15.5%د.ك1.14د.ك0.73د.ك0.868
May ’24د.ك0.95
د.ك0.93
-1.9%
15.5%د.ك1.14د.ك0.73د.ك0.868
Apr ’24د.ك0.96
د.ك0.97
+1.6%
15.3%د.ك1.13د.ك0.73د.ك0.918
Mar ’24د.ك0.98
د.ك0.97
-1.0%
15.3%د.ك1.13د.ك0.73د.ك0.938
Feb ’24د.ك1.01
د.ك0.97
-4.0%
15.5%د.ك1.13د.ك0.73د.ك0.938
Jan ’24د.ك0.98
د.ك0.97
-0.6%
15.5%د.ك1.13د.ك0.73د.ك0.858
Dec ’23د.ك1.02
د.ك0.96
-6.1%
15.2%د.ك1.13د.ك0.73د.ك0.848
Nov ’23د.ك1.00
د.ك0.96
-3.4%
15.5%د.ك1.13د.ك0.73د.ك0.838

Analyst Forecast: Target price is less than 20% higher than the current share price.

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