# Nationwide Building Society (NBS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Banks. Price £127.30, market value £1.2 billion.

## Valuation
- **P/E (trailing): 1.1×** (5-yr avg 0.9×, 3-yr avg 0.9×). Nationwide Building Society trades at 1.1× trailing earnings, close to its own five-year average of 0.9×. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 0.0×**. Each dollar of revenue is priced at 0.0×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.1×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 6.5×**. Enterprise value is 6.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -4508.7%** (5-yr avg 79.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 91.1%**. The inverse of the P/E: 91.1% of the price is earned each year.

## Profitability
- **Gross margin: 34.3%**. Nationwide Building Society keeps 34.3% of revenue after the direct cost of what it sells.
- **Operating margin: 8.0%**. 8.0% of revenue is left after running the business.
- **Net margin: 6.1%**. 6.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 5.0%**. 5.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 6.2%**. Return on all capital, debt included, is 6.2%.
- **Return on assets: 0.9%**. Each dollar of assets produces 0.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 6.9%** (3-yr 23.6%/yr, 5-yr 30.8%/yr). Revenue grew 6.9% over the last year, against 30.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -54.1%** (3-yr -12.0%/yr, 5-yr 14.6%/yr). Earnings per share fell 54.1%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 24.6%/yr**. Free cash flow has compounded at 24.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: £38.4 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 8.04%** (£10.25 per share, trailing). Nationwide Building Society yields 8.04%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 9%**. 9% of earnings goes out as dividends, leaving room to keep raising it.
- **Shareholder yield: -128.2%**. Dividends plus net buybacks return -128.2% of the market value a year.

## Price and momentum
- **Total return (1 yr): -1.9%** (YTD -2.3%, 3-mo -1.2%). The shares are down 1.9% over twelve months including dividends.
- **From 52-week high: -4.9%** (5.9% above the low). Trading within 5% of its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 17**. An RSI of 17 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 0.04** (volatility 3%). Beta of 0.04 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NBS.L · Page: https://foliofundamentals.com/stocks/nbs.l

Not investment advice.