National Bank of Kuwait S.a.k.p

National Bank of Kuwait maintains a capital structure characterized by total assets of 45.61 billion KWD and total equity of 5.02 billion KWD. The bank carries long-term debt of 1.05 billion KWD, resulting in a debt-to-equity ratio of 0.21. Liquidity is assessed as medium, with a key flag noting that net cash is negative after subtracting total debt. Operating cash flow stands at 1.07 billion KWD, while free cash flow is 400.87 million KWD, supported by capital expenditures of -61.62 million KWD.

Profitability metrics indicate a return on equity of 11.48% and a return on assets of 1.27%. The bank reported net income of 577.61 million KWD against revenue of 999.55 million KWD. Valuation multiples appear elevated, with a price-to-earnings ratio of 13,363.76 and a price-to-book ratio of 1,534.59, likely reflecting data scaling anomalies in the market price input relative to the financial statement currency.

Segment and geographic revenue concentration data is not provided in the available source documents. The analysis relies on aggregate financial figures without breakdown by business line or region.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current financial snapshot provides a single-period view of revenue and net income, preventing year-over-year trend assessment.

Risk assessment identifies medium liquidity risk and low dilution risk. The primary financial flag is the negative net cash position after debt subtraction. Dilution risk is low, with basic and diluted shares outstanding identical at 9.18 billion shares.

Recent observations include analyst estimates with a mean price target of 0.94 KWD and a median of 0.93 KWD. The mean recommendation is 3.25, indicating a neutral stance, with two buy ratings and three hold ratings. Competitor context lists major global banks but provides no comparative financial data.

Revenue grew at a 10.5% CAGR over four years, reaching KWD 999.5 million in FY2026.

Net income expanded at a 12.4% CAGR, demonstrating strong profitability growth over the four-year period.

Free cash flow surged 13.4% year-over-year to KWD 400.9 million, indicating robust cash generation.

Return on equity of 11.5% significantly exceeds the bank cohort median of 6.2%.

Net income declined 3.8% year-over-year in FY2026, signaling a recent reversal in profit growth.

Long-term debt increased to KWD 1.13 billion in FY2025, rising from KWD 956.5 million in FY2024.

The company faces medium liquidity risk, which could constrain operational flexibility during market stress.

Revenue KWD 248.1M, +4,8% YoY; Net income +1,0% YoY.

• ▍Revenue KWD 248.1M, +4,8% YoY
• ▍Net income +1,0% YoY
• ▍Free cash flow −0,3% YoY
• ▍Net margin 54.6%

Revenue KWD 250.6M, +1,7% YoY; Net income −24,3% YoY.

• ▍Revenue KWD 250.6M, +1,7% YoY
• ▍Net income −24,3% YoY
• ▍Free cash flow −25,1% YoY
• ▍Net margin 43.2%

Revenue KWD 259.2M, +3,1% YoY; Net income −7,6% YoY.

• ▍Revenue KWD 259.2M, +3,1% YoY
• ▍Net income −7,6% YoY
• ▍Free cash flow +86,0% YoY
• ▍Net margin 58.7%

Revenue KWD 252.9M, +3,6% YoY; Net income +24,2% YoY.

• ▍Revenue KWD 252.9M, +3,6% YoY
• ▍Net income +24,2% YoY
• ▍Free cash flow +20,7% YoY
• ▍Net margin 71.6%

Revenue KWD 236.8M; Net margin 56.6%.

• ▍Revenue KWD 236.8M
• ▍Net margin 56.6%

Revenue KWD 246.3M; Net margin 58.1%.

• ▍Revenue KWD 246.3M
• ▍Net margin 58.1%

Revenue KWD 251.4M; Net margin 65.5%.

• ▍Revenue KWD 251.4M
• ▍Net margin 65.5%

Revenue KWD 244.2M; Net margin 59.7%.

• ▍Revenue KWD 244.2M
• ▍Net margin 59.7%

Revenue KWD 999.5M, +2,0% YoY; Net income −3,8% YoY.

• ▍Revenue KWD 999.5M, +2,0% YoY
• ▍Net income −3,8% YoY
• ▍Free cash flow +13,4% YoY
• ▍Net margin 57.8%

Revenue KWD 980.1M, +8,3% YoY; Net income +7,0% YoY.

• ▍Revenue KWD 980.1M, +8,3% YoY
• ▍Net income +7,0% YoY
• ▍Free cash flow +14,0% YoY
• ▍Net margin 61.2%

Revenue KWD 905.1M, +19,8% YoY; Net income +10,1% YoY.

• ▍Revenue KWD 905.1M, +19,8% YoY
• ▍Net income +10,1% YoY
• ▍Free cash flow +42,3% YoY
• ▍Net margin 61.9%

Revenue KWD 755.8M, +12,9% YoY; Net income +40,5% YoY.

• ▍Revenue KWD 755.8M, +12,9% YoY
• ▍Net income +40,5% YoY
• ▍Free cash flow −2,4% YoY
• ▍Net margin 67.4%