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Earnings transcript
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NBHC
National Bank Holdings Corporation
$42.68
0.69
(1.64%)
| Exchange: | NYSE |
| Market Cap: | 1.62B |
| Shares Outstanding: | 52.184M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | G. Timothy Laney | |||||
| Full Time Employees: | 1259 | |||||
| Address: |
| |||||
| Website: | https://www.nationalbankholdings.com |
National Bank Holdings Corporation (NBHC) serves as the parent company for NBH Bank, providing a comprehensive range of banking products and financial services to commercial businesses and individual consumers across the United States. The bank offers various deposit accounts, including checking, savings, and money market options, alongside fixed-rate and fixed-maturity time deposits. Its lending portfolio is extensive, featuring commercial and industrial loans for purposes such as working capital, equipment financing, lender finance, and specialized sectors like food and agriculture, government, and non-profits. NBHC also finances both owner-occupied and non-owner occupied commercial real estate, covering diverse property types like office buildings, warehouses, multi-family residences, hospitality venues, and retail spaces. Additionally, it provides Small Business Administration (SBA) loans to support manufacturers, distributors, and service providers, as well as general term loans, lines of credit, real estate-secured loans, residential mortgages, and consumer loans. Beyond its core deposit and lending services, NBHC delivers a suite of treasury management solutions. These encompass digital banking (online and mobile), commercial credit cards, wire transfers, Automated Clearing House (ACH) services, electronic bill payment, lockbox services, remote deposit capture, merchant processing, cash vault services, controlled disbursements, and fraud prevention tools. The company also offers auxiliary services like account reconciliation, collections, repurchase accounts, zero balance accounts, and sweep accounts. As of January 20, 2022, NBHC operated through a network of 81 banking centers situated in Colorado, the greater Kansas City region, New Mexico, Utah, and Texas, complemented by 121 ATMs. Originally established in 2009 as NBH Holdings Corp., the company officially adopted its current name, National Bank Holdings Corporation, in March 2012. Its corporate headquarters are located in Greenwood Village, Colorado.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 553,563 | 594,314 | 583,936 |
| Gross Profit | 411,804 | 394,679 | 403,967 |
| EBITDA | 199,455 | 169,438 | 164,507 |
| Operating Income | 175,602 | 145,247 | 142,729 |
| Net Income | 142,048 | 118,815 | 109,574 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 9,951,064 | 9,807,693 | 9,883,518 |
| Total Liabilities | 8,738,257 | 8,502,618 | 8,498,404 |
| Total Stockholders Equity | 1,212,807 | 1,305,075 | 1,385,114 |
| Total Debt | 413,827 | 123,406 | 54,540 |
| Cash and Cash Equivalents | 190,826 | 127,848 | 417,058 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 166,935 | 155,271 | 162,418 |
| Capital Expenditure | -36,834 | -34,592 | 0 |
| Free Cash Flow | 130,101 | 120,679 | 162,418 |
| Net Income | 142,048 | 118,815 | 109,574 |
| Net Change in Cash | -6,193 | -64,478 | 289,210 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2027 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 578,223.062 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 583,526.894 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 581,551.250 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 190,029.412 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 191,772.484 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 191,123.201 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 156,460.963 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 158,345.957 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 157,403.460 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 185,456.226 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 187,157.349 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 186,523.692 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 4.130 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 4.150 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 4.100 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 3 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 3 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance in Q2 2025: Based on the earnings call transcript, NBHC reported strong quarterly results with notable growth in key financial metrics, including revenue and net income, surpassing analyst expectations. This reflects effective operational management and a robust business model within the banking sector.
- Healthy Profitability Metrics: Key metrics such as gross profit margin TTM and net profit margin TTM indicate a strong ability to generate profits relative to revenue, positioning NBHC favorably against industry peers in the financial services sector.
- Positive Free Cash Flow: Cash flow statements highlight consistent free cash flow generation TTM, supported by operating cash flow strength. This provides financial flexibility for reinvestment, debt management, and dividend payments, as evidenced by the dividend yield TTM.
- Stable Leadership and Strategic Focus: Insights from the earnings call suggest that under the current CEO’s guidance, NBHC maintains a clear strategic direction, focusing on loan production and fee income growth, which aligns with long-term value creation.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates NBHC intrinsic value between $46.13 – $46.65 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about NBHC valuation
Is National Bank Holdings Corporation (NBHC) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for National Bank Holdings Corporation (NBHC) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NBHC a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NBHC trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NBHC’s P/E ratio?
You can see NBHC’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NBHC?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NBHC a good long-term investment?
Whether NBHC fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NBHC
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
1.64
Trading Metrics:
| Open: | 42.36 | Previous Close: | 41.99 | |
| Day Low: | 41.67 | Day High: | 43.29 | |
| Year Low: | 35.06 | Year High: | 43.86 | |
| Price Avg 50: | 41.63 | Price Avg 200: | 39.58 | |
| Volume: | 307027 | Average Volume: | 470057 |
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Login — it's freeNBHC full analysis
Welcome to MARKETSNAP’s SWOT analysis for National Bank Holdings Corporation, or NBHC as it’s known on the ticker. If you’re a long-term investor looking to build wealth with solid picks, you’re in the right place. Today, we’re diving deep into this regional banking player to see what makes it tick, what’s holding it back, and where it could be headed. Let’s break it down with a quick overview, some recent updates, and then get into the meat of our SWOT…
