National Bank Holdings Corporation (NBHC) P/E Ratio History
Premium ValuationTrading at 15.3x vs 5Y avg 12.8x · 95th percentile · Premium to historical baseline · Data 2012–2025
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P/E Ratio Analysis
As of June 13, 2026, National Bank Holdings Corporation (NBHC) trades at a price-to-earnings ratio of 15.3x, with a stock price of $43.74 and trailing twelve-month earnings per share of $2.87.
The current P/E is 20% above its 5-year average of 12.8x. Over the past five years, NBHC's P/E has ranged from a low of 9.0x to a high of 19.0x, placing the current valuation at the 95th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.9x, NBHC is roughly in line with its sector peers. The sector includes 784 companies with P/E ratios ranging from 0.0x to 197.4x.
Relative to the broader market, NBHC trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NBHC DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NBHC Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
NBHC P/E vs Peers
Commercial and middle-market focused banks peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $730M | 10.9Lowest | 2.06 | +3% | |
| $5B | 19.0 | 4.22 | +13% | |
| $3B | 14.0 | 4.40 | +6% | |
| $8B | 14.7 | 1.79 | +13% | |
| $4B | 18.7 | 4.56 | -2% | |
| $7B | 13.6 | - | -10% | |
| $2B | 11.9 | 1.03 | +16% | |
| $6B | 11.7 | 0.89Best | +20%Best | |
| $3B | 12.4 | 1.54 | +2% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
NBHC Historical P/E Data (2012–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Dec 31 2025 | $38.01 | $2.85 | 13.3x | -84% |
| FY2025 Q3 | - | $38.64 | $3.16 | 12.2x | -85% |
| FY2025 Q2 | Jun 30 2025 | $37.61 | $3.10 | 12.1x | -86% |
| FY2025 Q1 | Mar 31 2025 | $38.27 | $2.90 | 13.2x | -84% |
| FY2024 Q4 | - | $43.06 | $3.09 | 13.9x | -83% |
| FY2024 Q3 | Sep 30 2024 | $42.10 | $3.23 | 13.0x | -84% |
| FY2024 Q2 | Jun 30 2024 | $39.05 | $3.31 | 11.8x | -86% |
| FY2024 Q1 | Mar 31 2024 | $36.07 | $3.48 | 10.4x | -88% |
| FY2023 Q4 | Dec 31 2023 | $37.19 | $3.72 | 10.0x | -88% |
| FY2023 Q3 | Sep 30 2023 | $29.76 | $3.29 | 9.0x | -89% |
| FY2023 Q2 | Jun 30 2023 | $29.04 | $2.85 | 10.2x | -88% |
| FY2023 Q1 | Mar 31 2023 | $33.46 | $2.67 | 12.5x | -85% |
| FY2022 Q4 | Dec 31 2022 | $42.07 | $2.21 | 19.0x | -77% |
| FY2022 Q3 | Sep 30 2022 | $36.99 | $2.51 | 14.7x | -82% |
| FY2022 Q2 | - | $38.27 | $2.65 | 14.4x | -83% |
| FY2022 Q1 | - | $40.28 | $2.75 | 14.6x | -83% |
| FY2021 Q4 | Dec 31 2021 | $43.94 | $3.01 | 14.6x | -83% |
| FY2021 Q3 | - | $40.48 | $3.14 | 12.9x | -85% |
| FY2021 Q2 | Jun 30 2021 | $37.74 | $3.40 | 11.1x | -87% |
| FY2021 Q1 | Mar 31 2021 | $39.68 | $3.20 | 12.4x | -85% |
| FY2020 Q4 | - | $32.76 | $2.84 | 11.5x | -86% |
| FY2020 Q3 | Sep 30 2020 | $26.25 | $2.59 | 10.1x | -88% |
| FY2020 Q2 | - | $27.00 | $2.38 | 11.3x | -86% |
| FY2020 Q1 | - | $23.90 | $2.45 | 9.8x | -88% |
| FY2019 Q4 | - | $35.22 | $2.55 | 13.8x | -84% |
| FY2019 Q3 | Sep 30 2019 | $34.19 | $2.48 | 13.8x | -84% |
| FY2019 Q2 | Jun 30 2019 | $36.30 | $2.37 | 15.3x | -82% |
| FY2019 Q1 | Mar 31 2019 | $33.26 | $2.29 | 14.5x | -83% |
| FY2018 Q4 | Dec 31 2018 | $30.87 | $1.96 | 15.8x | -81% |
| FY2018 Q3 | Sep 30 2018 | $37.65 | $1.04 | 36.2x | -57% |
| FY2018 Q2 | Jun 30 2018 | $38.59 | $0.72 | 53.6x | -36% |
| FY2018 Q1 | Mar 31 2018 | $33.25 | $0.49 | 67.9x | -19% |
| FY2017 Q4 | Dec 31 2017 | $32.43 | $0.52 | 62.4x | -26% |
| FY2017 Q3 | Sep 30 2017 | $35.69 | $1.25 | 28.6x | -66% |
| FY2017 Q2 | Jun 30 2017 | $33.11 | $1.29 | 25.7x | -69% |
| FY2017 Q1 | Mar 31 2017 | $32.50 | $1.11 | 29.3x | -65% |
| FY2016 Q4 | Dec 31 2016 | $31.89 | $0.82 | 38.9x | -54% |
| FY2016 Q3 | Sep 30 2016 | $23.37 | $0.57 | 41.0x | -51% |
| FY2016 Q2 | - | $20.36 | $0.32 | 63.6x | -24% |
| FY2016 Q1 | - | $20.39 | $0.13 | 156.8x | +87% |
| FY2015 Q4 | - | $21.37 | $0.15 | 142.5x | +70% |
| FY2015 Q3 | Sep 30 2015 | $20.53 | $0.10 | 205.3x | +145% |
| FY2015 Q2 | - | $20.83 | $0.13 | 160.2x | +91% |
| FY2015 Q1 | - | $18.81 | $0.22 | 85.5x | +2% |
| FY2014 Q4 | Dec 31 2014 | $19.41 | $0.22 | 88.2x | +5% |
| FY2014 Q3 | - | $19.12 | $0.18 | 106.2x | +27% |
| FY2014 Q2 | Jun 30 2014 | $19.94 | $0.12 | 166.2x | +98% |
| FY2014 Q1 | Mar 31 2014 | $20.07 | $0.13 | 154.4x | +84% |
| FY2013 Q4 | - | $21.40 | $0.14 | 152.9x | +82% |
| FY2013 Q3 | Sep 30 2013 | $20.54 | $0.18 | 114.1x | +36% |
| FY2013 Q2 | Jun 30 2013 | $19.70 | $0.01 | 1970.0x | +2249% |
| FY2012 Q3 | Sep 30 2012 | $19.46 | $0.49 | 39.5x | -53% |
Average P/E for displayed period: 83.9x
What if you invested $1,000 in NBHC back in 2012?
Total return with dividends reinvested · 14+ years of data
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Compare NowNBHC — Frequently Asked Questions
Quick answers to the most common questions about buying NBHC stock.
What is NBHC's P/E ratio?
National Bank Holdings Corporation (NBHC) trailing twelve-month P/E ratio is 15.3x, based on TTM diluted EPS of $2.87. The 5-year average P/E is 12.8x and the historical range spans 9.0x to 19.0x.
Is NBHC stock overvalued or undervalued?
NBHC trades at 15.3x P/E, near its 5-year average of 12.8x. The 95th percentile ranking within the 9.0x–19.0x historical range places valuation within normal bounds.
Is NBHC stock expensive?
NBHC is fairly valued relative to its own history. The current P/E of 15.3x is near the 5-year average of 12.8x (95th percentile of historical range).
What is NBHC's historical P/E range?
Over the past 5 years, NBHC's P/E ratio has ranged from 9.0x to 19.0x, with a median of 12.9x and an average of 12.8x. The current P/E of 15.3x places the stock at the 95th percentile of this range. Full historical data spans 2012–2025.
How does NBHC's P/E compare to the S&P 500?
NBHC trades at 15.3x P/E versus the S&P 500 median of 25.1x. The 39% discount to the market suggests lower growth expectations or perceived higher risk.
How does NBHC's valuation compare to Financial Services peers?
National Bank Holdings Corporation P/E of 15.3x compares to the Financial Services sector median of 13.9x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is NBHC's PEG ratio?
NBHC PEG ratio is N/A, based on a P/E of 15.3x and EPS growth of -7.5%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is NBHC's earnings yield?
NBHC earnings yield is 6.52%, the inverse of its 15.3x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.