Is National Bank Holdings (NBHC) overvalued or fairly valued?

MarketChacha shows National Bank Holdings's valuation in context — a trailing P/E of about 14.8, a forward P/E of about 10.7, a price-to-book of about 1.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does National Bank Holdings's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.31×) from reported figures — education, not a rating.

What is National Bank Holdings's revenue?

National Bank Holdings reported revenue of $47.1M for FY2025, with net profit of $109.6M, per official filings.

What is the share price of National Bank Holdings (NBHC)?

National Bank Holdings last traded at $42.07 (+0.5% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

National Bank Holdings

NBHC · NYSE · Financials · United States

Snapshot

TickerNBHC

ExchangeNYSE

SectorFinancials

IndustryBanks - Regional

CountryUnited States

Employees1,250

HeadquartersGreenwood Village, United States

Websitewww.nationalbankholdings.com

Filings tracked25

About National Bank Holdings

National Bank Holdings Corporation operates as the bank holding company for NBH Bank that provides various banking products and financial services to commercial, business, and consumer clients in the United States. It offers deposit products, including checking, savings, money market, health savings, and other deposit accounts, including fixed-rate and fixed maturity time deposits. The company also provides commercial and industrial loans and leases, such as working capital loans, equipment loans, lender finance loans, food and agriculture loans, government and non-profit loans, owner occupied commercial real estate loans, and other commercial loans and leases; non-owner occupied commercial real estate loans consisting of loans on commercial properties, such as hospitality, office buildings, warehouse/distribution buildings, multi-family, and retail buildings; small business administration loans to support small businesses and entrepreneurs; term loans, line of credits, and real estate secured loans; residential real estate loans; and consumer loans. In addition, it offers treasury management solutions comprising online and mobile banking, commercial credit card, wire transfer, automated clearing house, electronic bill payment, lock box, remote deposit capture, merchant processing, cash vault, controlled disbursements, and fraud prevention services, as well as positive pay and other auxiliary services, including account reconciliation, collections, repurchase accounts, zero balance accounts, and sweep accounts. The company operates through a network of banking centers located in Colorado, the greater Kansas City region, Texas, Utah, Wyoming, New Mexico and Idaho. It also operates ATMs. The company was formerly known as NBH Holdings Corp. and changed its name to National Bank Holdings Corporation in March 2012. The company was incorporated in 2009 and is headquartered in Greenwood Village, Colorado.

Who owns it

Insiders5.8%
Institutions94.2%
Public & other0.0%

330 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.14.58%
Vanguard Portfolio Management LLC6.15%
William Blair Investment Management, LLC5.61%
State Street Corporation5.21%
Dimensional Fund Advisors LP5.02%
Vanguard Capital Management LLC4.29%
Charles Schwab Investment Management, Inc.3.79%
T. Rowe Price Investment Management, Inc.3.10%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 70.3 points over the period — profitability is trending down.

Cash conversion1.31×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend302.7% → 232.4%

Margin has compressed by about 70.3 points over the period — profitability is trending down.

Return on equity7.9%

Latest ROE of 7.9% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 0% · PAT -12%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $139.1M · EPS 0.95

Est. earnings growth +59.2%

Next fiscal year

Rev $572.4M · EPS 3.93

Est. earnings growth +19.1%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$47.1M

Net margin

232.4%

ROE

7.9%

Revenue CAGR (2y)

+0.2%

Profit CAGR (2y)

-12.2%

EPS (FY2025)

2.85

Net profit (FY2025)

$109.6M

Ask MarketChacha about NBHC

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$47.1M	$109.6M	2.85	232.4%	7.9%
FY2024	$46.2M	$118.8M	3.08	257.3%	9.1%
FY2023	$46.9M	$142.0M	3.72	302.7%	11.7%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$11.9M	$26.5M	0.58	221.9%
2026Q1	$11.4M	$20.8M	0.46	183.1%
2025Q3	$11.3M	$35.3M	0.92	312.9%
2025Q2	$11.1M	$34.0M	0.88	306.1%
2025Q1	$10.8M	$24.2M	0.63	223.9%
2024Q3	$12.1M	$33.1M	0.86	274.4%
2024Q2	$11.7M	$26.1M	0.68	223.6%
2024Q1	$11.0M	$31.4M	0.82	285.2%
2023Q3	$13.0M	$36.1M	0.94	278.0%
2023Q2	$13.4M	$32.6M	0.85	242.7%
2023Q1	$10.1M	$40.3M	1.06	400.0%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/5/2026
8-K — Other events, Exhibits
SEC8/4/2026material
8-K — Reg FD disclosure, Exhibits
SEC7/27/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC7/21/2026material
8-K — Executive/director change, Shareholder vote results, Exhibits
SEC5/12/2026material
8-K — Other events, Exhibits
SEC5/7/2026material
10-Q filing
SEC5/7/2026
8-K — Reg FD disclosure, Exhibits
SEC5/4/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC4/21/2026material
10-K filing
SEC2/24/2026
8-K — Executive/director change, Exhibits
SEC2/19/2026material
8-K — Material agreement, Material financial obligation, Reg FD disclosure, Exhibits
SEC2/11/2026material
8-K — Reg FD disclosure, Exhibits
SEC2/10/2026material
8-K — Other events, Exhibits
SEC2/5/2026material
8-K — Reg FD disclosure, Exhibits
SEC2/4/2026material
8-K — Results of operations, Other events, Exhibits
SEC1/27/2026material
8-K — Completion of acquisition/disposition, Executive/director change, Other events, Exhibits
SEC1/7/2026material

2025

8-K — Other events, Exhibits
SEC12/23/2025material
8-K — Reg FD disclosure, Exhibits
SEC11/3/2025material
8-K — Other events, Exhibits
SEC10/29/2025material
10-Q filing
SEC10/29/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC10/21/2025material
8-K — Material agreement, Executive/director change, Exhibits
SEC9/18/2025material
8-K — Reg FD disclosure, Exhibits
SEC9/15/2025material
8-K — Reg FD disclosure, Exhibits
SEC8/14/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.