Valuation · at the close on 16 Oct 2026

National Bank of Pakistan (NBP) valuation

At Rs 159.33 (close on 16 Oct 2026) NBP trades at 4.5× earnings (TTM to Jun 2026), above its five-year average of 3.4× and below the Commercial Banks median of 6.0×. The shares are priced at 0.72× book value (sector median 0.90×). The dividend yield is 22.0%.

P/E · today

4.5×

TTM to Jun 2026

5-yr average3.4× Sector median6.0×

P/B · today

0.72×

Quarter to Jun 2026

5-yr average— Sector median0.90×

Dividend yield · today

22.0%

FY2025

5-yr average— Payers' median9.4%

Market value Rs 339.0 bn at Rs 159.33. Sector medians use the latest close of 19 Commercial Banks companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10 All

NBP valuation history (annual) (Rs bn)

Rs bn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 Jan – Dec 2016	FY2015 Jan – Dec 2015	FY2014 Jan – Dec 2014	FY2013 Jan – Dec 2013	FY2012 Jan – Dec 2012	FY2011 Jan – Dec 2011	FY2010 Jan – Dec 2010	FY2009 Jan – Dec 2009	FY2008 Jan – Dec 2008	FY2007 Jan – Dec 2007	FY2006 Jan – Dec 2006
Market capitalisation	515.2	142.4	68.3	50.2	73.4	91.4	92.1	89.4	103.3	159.3	115.0	147.8	123.5	91.4	69.0	103.4	80.0	45.1	189.3	159.0
Share price (period end) Rs	242.18	66.92	32.11	23.59	34.52	42.96	43.30	42.03	48.56	74.89	54.04	69.46	58.06	42.95	32.45	48.58	37.63	21.22	88.98	74.74
P/E (diluted)	6.06×	5.48×	1.29×	1.63×	2.57×	3.00×	5.56×	4.49×	4.46×	6.92×	5.74×	9.19×	23.42×	5.87×	3.90×	5.80×	4.59×	2.88×	10.13×	9.22×
Price to book	0.96×	0.31×	0.17×	0.16×	0.25×	0.33×	0.39×	0.43×	0.58×	0.89×	0.67×	0.81×	0.77×	0.55×	0.51×	0.79×	0.66×	0.43×	1.61×	1.92×
Dividend yield (gross)	3.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	15.4%	10.0%	10.2%	2.9%	10.5%	13.8%	14.6%	7.8%	7.3%	14.9%	1.5%	1.1%
PEG ratio	0.03×	—	0.02×	0.21×	(0.41×)	0.04×	(0.33×)	(0.32×)	7.28×	0.46×	0.23×	0.04×	(0.35×)	(0.49×)	(6.76×)	2.83×	0.41×	(0.18×)	1.21×	0.26×
P/E (diluted, normalised)	6.31×	6.00×	1.25×	1.43×	1.89×	3.00×	4.90×	4.46×	5.01×	7.46×	5.97×	10.09×	18.51×	5.56×	3.29×	3.53×	4.42×	2.81×	10.15×	9.62×
Price to book — 5-year average	—	—	0.25×	0.30×	0.38×	0.50×	0.57×	0.67×	0.75×	0.74×	0.67×	0.69×	0.66×	0.59×	0.80×	1.04×	1.18×	1.29×	1.51×	1.37×
Dividend yield — 5-year average	—	—	0.0%	0.0%	3.5%	6.0%	7.8%	7.8%	9.4%	9.0%	9.4%	9.0%	10.6%	11.1%	6.9%	4.4%	3.1%	2.3%	1.3%	1.2%

NBP valuation: frequently asked questions

What is NBP's P/E ratio? +

At the closing price of Rs 159.33 on 16 Oct 2026, NBP trades at a P/E of 4.5× based on EPS of Rs 35.18 (TTM to Jun 2026).

What is NBP's book value per share? +

National Bank of Pakistan's book value per share was Rs 252.05 at the end of FY2025. The shares trade at 0.72× book value.

Information only, not investment advice.